Hydraulic Gear Pump Market to Grow With an Exceptional CAGR Through 2028F Across the Globe
Rapid industrialization and
urbanization is a significant factor driving the growth of the Global Hydraulic
Gear Pump Market in the forecast period of 2024-2028.
According to the TechSci
Research report, "Global Hydraulic Gear
Pump Market – Industry Size, Share, Trends, Competition, Opportunity and
Forecast, 2018-2028F," The Global Hydraulic
Gear Pump Market is anticipated to expand in the coming years.
A hydraulic gear pump is a positive
displacement (PD) pump. It transfers fluid mechanically by repeatedly enclosing
a fixed volume with interlocking cogs or gears. It produces a smooth,
pulse-free flow that is proportional to the rotational speed of its gears.
Rapid urbanisation and
industrialization in key emerging countries such as China and India is one of
the major factors influencing the growth of the hydraulic gear pumps market.
Due to the growing urban population, these countries are currently going
through a phase of rapid industrialization whichhas resulted in rise of consumer
needs and products, affecting the growth of end-use industries. The expansion
of end-use industries has had a direct impact on the demand for hydraulic gear pumps.
With a significant number of manufacturing industries being established and
planned expansions across industries, demand for hydraulic pumps is expected to
grow rapidly during the forecast period.
Lower replacement rates and equipment
lifecycle extension such as repair and maintenance, are likely to halt the
growth of the hydraulic gear pump market. Moreover, new technologies and innovations
in hydraulic gear pumps provide enormous opportunity for repairs but it also poses
challenges in terms of maintaining hydraulic gear pumps.
With the growing need to use
water efficiently, there has been an increase in technological innovations in
the water industry over the last decade, and pumps are one of the essential in
industrial and commercial spaces. Industrial processes consume a significant
amount of groundwater, accounting for 13% of total freshwater consumption. Thus,
there is an urge to address the issues related to the waste water management
and therefore, industries are developing new technologies.
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Global
Hydraulic Gear Pump Market is segmented into Product, End-Use, Operating Pressure, Application,
By Region, and By Competition.
The
agricultural industry is a significant end user driving the hydraulic gear pump
market. As demand for agricultural applications is expected to rise. Thus, the
majority of global hydraulic gear pump manufacturers are following the trends
of manufacturing and providing hydraulic gear pumps specifically for
agricultural and farming equipment. However, when compared to mechanical and
electrical systems, hydraulic gear pumps have fewer moving parts. Therefore, they
become less complex and simpler to maintain. Moreover, farmers can easily speed
up, slow down, or stop the flow of water by using straightforward controls
which drives the market for hydraulic gear pumps.
According to
regional analysis, Hydraulic Gear Pump Market is segmented into North America,
Europe, South America, Asia-Pacific, and Middle east and Africa. North America
is expected to grow during the forecast period. The demand for hydraulic pumps
is anticipated to be primarily driven by economic growth, urbanisation, and
industrialization in countries such as US, Canada, Mexico. Over the forecast
period, the economy of North America are
anticipated to offer hydraulic pump manufacturers significant growth prospects.
The growing economy and the region's rapid end-use industry growth are
anticipated to be the main drivers of the hydraulic pumps market's expansion,
particularly in fast-growing economies.
Major
market players operating in the Global Hydraulic Gear Pump Market are:
- Linde Hydraulics GmbH
& Co. Kg
- Bosch Rexroth AG
- Eaton Corporation Plc
- Kawasaki Heavy
Industries Ltd.
- Bucher Hydraulics GmbH
- Parker Hannifin Corp
- Dynamatic Technologies
Limited
- HYDAC
- Sapricon Hydraulic
Industries
- Gemma Automotive
- Marzocchi
Pompe S.p.A.
- Daikin Industries Ltd.
Players in the
hydraulic gear pumps market are focusing on expanding their market footprint in
key developing regions, as well as strategic collaborations with domestic
players, in order to maintain their market leadership. Some of the recent
developments by key players are:
In October
2022, Hydreco, a Duplomatic Group company, has doubled its production plants in
the Emilia region of Italy, with a new range of external gear pumps.
In March 2018,
Kawasaki Precision Machinery highlighted electro-hydraulic hybrid system, for
industrial applications at Hannover Messe. This new system provide efficient
controllability in applications such as press machines, injection moulding
machines, and steel manufacturing.
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"The global hydraulic
gear pump market is expected to thrive as the market for hydraulic gear pumps
focuses on developing current pump models to improve energy efficiency. Pumps
are critical pieces of equipment. It is essential in everything from irrigation
to sewage treatment, and as new technologies and designs emerge, the pumps
industry is constantly evolving and improving.." said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based global management
consulting firm.
"Hydraulic Gear Pump Market– Global
Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F, Segmented
By Product (External Gear and Internal Gear), By End-Use (Construction, Mining
& Metallurgy, Automotive, Transportation, Architecture, Chemicals &
Petrochemicals and Others), By Operating Pressure, (Less than 100 Bar, 100–300
Bar, and Above 300 Bar), By Application (Hybrid Propulsion,
Transmission/Clutches, Electrohydraulic Powered Steering, and Lifting
Application), By Region, By Competition ", has evaluated the future growth
potential of Global Hydraulic Gear Pump market and provides statistics &
information on market size, structure, and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Global Hydraulic Gear Pump Market.
Contact
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+1-646-360-1656
Email: [email protected]m
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