|Market Size in 2021||Market Forecast in 2028||CAGR (in %)||Base Year|
|USD 1827.4 million||2246.34 million||3.50%||2021|
Hydraulic Gear Pumps Market
The global hydraulic gear pumps market size was USD 1827.4 million in 2021 and is estimated to grow to USD 2246.34 million by 2028, with a compound annual growth rate (CAGR) of approximately 3.50% over the forecast period. The report analyzes the hydraulic gear pumps market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the hydraulic gear pumps market.
Hydraulic gear pumps convert mechanical energy into hydraulic energy in a fluid. The pump moves fluid due to the spinning of the gear, which creates a vacuum at the inlet. The liquid is pushed via the gears. The mechanical energy generated by the gears' revolution raises the fluid pressure at the discharge. Hydraulic gear pumps work with a wide range of construction machinery. Hydraulic gear pumps are used to move fluids throughout a system because the mechanical clearances between the gears are so minimal. The hydraulic fluid is driven toward the discharge point as the gears revolve.
Hydraulic gear pumps are commonly used in earth moving equipment, agricultural machinery, material handling equipment, and construction equipment. The construction business is expected to rise as urbanization accelerates in developing economies such as India, China, Brazil, and Argentina. Rapid residential sector expansion to satisfy the rising demand for urban living spaces, particularly in fast-growing economies, is also strengthening the construction industry, driving sales of a variety of construction equipment, including hydraulic gear pumps. Because hydraulic pumps are used to generate power in automobiles, trucks, and other vehicles, the growth of the automobile industry increases the demand for hydraulic gear pumps.
Furthermore, the hydraulic gear pump market is likely to be driven by infrastructure upgrades, a rising renewable energy sector, and an increasing demand for energy-efficient solutions to meet rigorous government laws for environmental protection all over the world. However, the high cost of producing hydraulic gear pumps is likely to stifle market expansion throughout the projection period.
The COVID-19 epidemic has forced numerous products in the hydraulic gear pump industry to stop production because of the ongoing state of emergency in important international locations. However, players in the hydraulic gear pump market can only sustain a total lockdown for a short time before they are forced to change their investment strategies. Additionally, with the availability of the COVID-19 vaccine on the market, fewer incidences of the disease are anticipated shortly. To respond to urgent problems and implement new working procedures, equipment and machinery manufacturers must concentrate on safeguarding their employees, operations, and supply networks when COVID-19 infection rates begin to drop.
The rapid urbanization and development of significant developing nations like China and India is propelling the growth of the hydraulic pumps sector. Many nations are experiencing rapid industrialization as a result of the growing urban population. As a result, consumer demands and product availability have increased, which has had an impact on the growth of end-use sectors. The overall expansion of end-use industries has directly impacted the demand for hydraulic pumps.
In recent years, factory automation has steadily gained popularity. The construction equipment business uses intelligent machines to boost industrial output and make it more economical and energy-efficient. However, due to its operational inefficiency compared to more sophisticated competitors on the market, end users are switching to alternative pump solutions like hydraulic gear pumps to meet changing customer demands worldwide. Because of this, it is anticipated that the demand for hydraulic gear pumps would be constrained as more alternative pumping technologies, such as piston pumps, are used.
The global hydraulic gear pumps market is segregated on the basis of product type, operating pressure, application, distribution channel, and region.
By product type, the market is bifurcated into external gear pump and internal gear pump. Among these, the external gear pump segment dominated the market in 2021. An external gear pump makes use of two identical gears that are mesh-meshed side by side. One of the gears is driven by a motor, and it then drives the other gear, which drives the idle (driven) gear. A shaft with bearings on both sides of the gear supports each gear individually. Consequently, the construction industry finds it more valuable.
Based on operating pressure, the market is divided into less than 100 bar, 100–300 bar, and above 300 bar. Among these, the 100–300 bar segment dominated the market in 2021.
Based on application, the market is divided into transmission/clutches, electrohydraulic powered steering, hybrid propulsion and lifting applications. Over the forecast period, the lifting application is expected to develop fastest.
The distribution channel bifurcates the market into aftermarket and original equipment manufacturer (OEM). Over the forecast period, the original equipment manufacturer (OEM) segment is expected to develop at the fastest rate during the forecast timeline. A company that manufactures parts and equipment that another manufacturer might sell is known as an original equipment manufacturer (OEM). Original equipment manufacturers (OEMs), sometimes known as value-added resellers, supply the parts for another company's final goods (VAR). For example, engineering technology services offers original equipment manufacturer (OEM) hydraulic gear pumps and motors for machinery used in industrial applications.
|Report Attributes||Report Details|
|Report Name||Hydraulic Gear Pumps Market Research Report|
|Market Size in 2021||USD 1827.4 million|
|Market Forecast in 2028||2246.34 million|
|Growth Rate||CAGR of 3.50%|
|Number of Pages||214|
|Key Companies Covered||Linde Hydraulics GmbH & Co. Kg, Bosch Rexroth AG, Sapricon Hydraulic Industries, Eaton Corporation Plc, Kawasaki Heavy Industries Ltd, Dynamatic Technologies Limited, Bucher Hydraulics GmbH, Parker Hannifin Corp, Marzocchi Pompe S.p.A., HYDAC, Daikin Industries Ltd., and Gemma Automotive.|
|Segments Covered||By Product Type, By Operating Pressure, By Application, By Distribution Channel, And By Region|
|Regions Covered||North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)|
|Historical Year||2016 to 2020|
|Forecast Year||2022 - 2028|
|Customization Scope||Avail customized purchase options to meet your exact research needs. Request For Customization|
Increasing agricultural and construction activity likely to help North America dominate the global market
North America dominated the global hydraulic gear pumps market in 2021 due to increasing agricultural & construction activity and increased investment in construction. The specific activities included building infrastructure and extensively using hydraulic pumps to extract metals and minerals. Additionally, there has been a rise in demand for the shale gas production technique known as hydraulic fracturing. Supporting government actions by these governments may also draw international players to these nations, thus affecting the opportunities for the region above.
Over the forecast period, Asia Pacific regional market is expected to grow significantly in hydraulic gear pumps market because wastewater treatment has expanded significantly in countries like China, India, and Japan. The increased investments in construction projects in emerging nations, particularly those in Southeast Asia, is another factor driving the region's growth. In addition, the market for these pumps has new opportunities thanks to the rising popularity of renewable energy in various Asia-Pacific countries.
Some of the main competitors dominating the global hydraulic gear pumps market include:
By Product Type
By Operating Pressure
By Distribution Channel
The construction business is expected to rise as urbanization accelerates in developing economies such as India, China, Brazil, and Argentina. In addition, rapid residential sector expansion to satisfy the rising demand for urban living spaces, particularly in fast-growing economies, is also strengthening the construction industry, driving sales of a variety of construction equipment, including hydraulic gear pumps.
According to the report, the global Hydraulic Gear Pumps market was worth 1,827.4 (USD million) in 2021 and is predicted to grow to 2,246.34 (USD million) by 2028, with a compound annual growth rate (CAGR) of around 3.50%.
North America is expected to dominate the Hydraulic Gear Pumps Market in 2021 due to increasing global agricultural and construction activity and increased construction investment. The specific activities completed include building infrastructure and using hydraulic pumps extensively in the extraction of metals and minerals. Additionally, there has been a rise in demand for the shale gas production technique known as hydraulic fracturing.
Some of the main competitors dominating the global hydraulic gear pumps market include - Linde Hydraulics GmbH & Co. Kg, Bosch Rexroth AG, Sapricon Hydraulic Industries, Eaton Corporation Plc, Kawasaki Heavy Industries Ltd, Dynamatic Technologies Limited, Bucher Hydraulics GmbH, Parker Hannifin Corp, Marzocchi Pompe S.p.A., HYDAC, Daikin Industries Ltd., and Gemma Automotive.