Hydraulic Gear Pump Market Size is expected to cross USD $12 billion by 2030 at a CAGR of 4% during the forecast period 2022- 2030
Market Scenario: Hydraulic gear pumps rely on the gear meshing to pump fluids throughout a system with extremely narrow mechanical clearances between the gears. As the gears rotate, the hydraulic fluid gets pumped in forward direction towards the discharge point. Hydraulic gear pump is primarily used in earth moving equipment, material handling equipment, agricultural machinery, and construction equipment.
Global hydraulic gear pump market is expected to grow at CAGR of ~4%. The hydraulic gear pump offers improved engine fuel efficiency, more accurate temperature stabilization, and reduced emissions and noise compared to its alternatives such as mechanical pumps. Increased use of construction equipment for operations such as excavation, earthmoving, and material handling along with the growth in automobile industry increases the demand for hydraulic gear pumps as the hydraulic pumps are used in cars, trucks and other vehicles as a power generating mechanism. Furthermore, infrastructural improvements, increasing renewable energy sector, and the increasing demand for energy efficient solutions to fulfil the stringent government regulations for environmental protection all over the world are expected to drive the hydraulic gear pump market. However, the high cost of hydraulic gear pump manufacturing is expected to hamper the market growth during the forecast period.
Segmentation: Global Hydraulic Gear Pump Market:
Global hydraulic gear pump market is segmented on the basis of vehicle type, product type, operating pressure, application, distribution channel, and region. On the basis of vehicle type, the market has been segmented into light duty vehicles, heavy duty vehicles, and material handling vehicles. On the basis of product type, the market has been segmented into external gear pump, and internal gear pump. On the basis of operating pressure, the market has been segmented into less than 100 Bar, 100–300 Bar, and above 300 Bar. On the basis of application, the market has been segmented into transmission/clutches, electrohydraulic powered steering, hybrid propulsion, and lifting application. On the basis of distribution channel, the market has been segmented into original equipment manufacturer (OEM) and aftermarket.
Geographically, the global hydraulic gear pump market has been segmented into the four regions of North America, Europe, Asia-Pacific, and the Rest of the World. North America is estimated to hold the highest market share throughout the forecast period, owing to the growing agricultural and construction activities coupled with increased construction spending across various countries. For instance, according to the US Census Bureau, the construction spending rose from USD 788 billion in 2011 to USD 1231 billion in 2017 in the US. Furthermore, Europe is estimated to hold substantial market share during the forecast period. The presence of major market players such as Linde Hydraulics GmbH & Co. Kg, Bosch Rexroth AG, Eaton Corporation Plc, Bucher Hydraulics GmbH, HYDAC, and Marzocchi Pompe S.p.A. along with the strong demand for the heavy-duty vehicles are expected to fuel the growth of the Europe market.
The prominent players in the global hydraulic gear pump market include Linde Hydraulics GmbH & Co. Kg (Germany), Bosch Rexroth AG (Germany), Eaton Corporation Plc (Republic of Ireland), Kawasaki Heavy Industries, Ltd(Japan), and Bucher Hydraulics GmbH (Switzerland). Parker Hannifin Corp (US), Dynamatic Technologies Limited (India), HYDAC(Germany), Sapricon Hydraulic Industries(India), Gemma Automotive (Turkey), Marzocchi Pompe S.p.A. (Italy), and Daikin Industries, Ltd. (Japan), are among others.
The report for Global Hydraulic Gear Pump Market of Market Research Future covers extensive primary research. This is accompanied with detailed analysis of qualitative and quantitative aspects by various industry experts and key opinion leaders to gain deeper insights into the market and industry performance. The report gives a clear picture of the current market scenario, which includes the historical and forecasted market size, in terms of value and volume, technological advancement, macroeconomic, and governing factors of the market. The report provides comprehensive information about the strategies of the top companies in the industry, along with a broad study of the different market segments and regions.
|Market Size||2030 : Significant Value|
|CAGR||4% CAGR (2022 to 2030)|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product Type, Operating Pressure, Vehicle Type, Application and Distribution Channel|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Linde Hydraulics GmbH & Co. Kg (Germany), Bosch Rexroth AG (Germany), Eaton Corporation Plc (Republic of Ireland), Kawasaki Heavy Industries, Ltd(Japan), and Bucher Hydraulics GmbH (Switzerland). Parker Hannifin Corp (US), Dynamatic Technologies Limited (India), HYDAC(Germany), Sapricon Hydraulic Industries(India), Gemma Automotive (Turkey), Marzocchi Pompe S.p.A. (Italy), and Daikin Industries, Ltd. (Japan)|
|Key Market Opportunities||Increased use of construction equipment for operations such as excavation, earthmoving, and material handling|
|Key Market Drivers||
The global hydraulic gear pump market is projected to register a moderate 4% CAGR in the forecast period.
Bucher Hydraulics GmbH (Switzerland), Kawasaki Heavy Industries, Ltd (Japan), Dynamatic Technologies Limited (India), and Parker Hannifin Corp (US) are the market contenders.
The North American region is likely to control the uppermost market stake in the forecast period.
The amplified usage of construction equipment for excavation and earthmoving is likely to promote the market’s development.
Product type, operating pressure, distribution channel, vehicle type, application, and region are the market segments.