Global Hydraulic Gear Pump Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
“Global Hydraulic Gear Pump Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global hydraulic gear pump market report has been segmented on the basis of material, product type, vehicle type, end-user, and region.
Global Hydraulic Gear Pump Market: Overview
A hydraulic pump is a mechanical device that converts mechanical power into hydraulic energy. It generates flow with enough power to overcome pressure induced by the load. Hydraulic gear pumps are used in cars, trucks and other vehicles as a power generating mechanism. It is durable, low-cost, and capable of a wide range of displacement sizes and pressures.
Global Hydraulic Gear Pump Market: Dynamics
Increasing scope of application in automotive, construction, and agriculture industries, coupled with growth of oil and gas sector in developed as well as developing countries are some major factors expected to boost growth of the target market over the forecast period. In addition, technological advancement such as development of double gear pumps with minimal number of parts along with focus on reducing the production cost and improve capacity, are anticipated to propel demand for hydraulic gear pumps in various sectors and drives market growth over the forecast period. Moreover, government initiatives, investments, and subsidies regarding construction activities, along with focus towards reduction of CO2 emissions is another factor supporting to growth of the target market over the forecast period.
However, easy availability of low-cost alternative pumps is a major factor may hamper demand and restrain growth of the global market.
Global Hydraulic Gear Pump Market: Segment Analysis
Global hydraulic gear pump market is segmented on the basis of material, product type, vehicle, end-user, and geography.
On the basis of material, the global market is segmented into aluminum, cast iron, and alloy. The aluminum segment is estimated to hold significant share in the market over the forecast period.
On the basis of product type, the global market is segmented into unidirectional and bi-directional. The unidirectional segment is expected to register significant growth rate in the market over the forecast period.
Among the vehicle type, the heavy duty vehicles segment is projected to hold major share in the global target market over the forecast period.
On the basis of end-user, the target market segregated into construction, mining, agriculture machinery, automotive, oil and gas, and chemical and petrochemical. Construction & agriculture segment is expected to propel growth of the target market in the near future.
Hydraulic Pumps Market: Regional Analysis
Currently, market in Asia Pacific accounts for highest market share in the global hydraulic gear pump market in terms of revenue. This dominance can be attributed to rising demand from construction and agriculture sector, government initiatives taken in countries such as Indonesia, Malaysia, Singapore, China, and India, coupled with construction spending related to equipment including hauling, earth moving, conveying, pumping, hosting, and dewatering. The market in Europe accounts for significant revenue share in the global market and is expected to witness considerable growth in the upcoming period. The significant presence of construction equipment manufacturers such as Caterpillar Inc. and J.C. Bamford Excavators Limited, along with increasing demand for technologically advanced products is anticipated to drive growth of the Europe hydraulic gear pumps market during the forecast period.
Global Hydraulic Pumps Market Segmentation:
Segmentation by Material:
- Cast Iron
Segmentation by Product Type:
Segmentation by Vehicle Type:
- Light Duty Vehicles
- Heavy Duty Vehicles
- Material Handling Vehicles
Segmentation by End-user:
- Agriculture Machinery
- Oil and Gas
- Chemical and Petrochemical
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Estimated Year 2020 Actual Year 2021 Forecast Period 2021–2030 Revenue in US$
- Bosch Rexroth AG
- Eaton Corporation Plc
- Kawasaki Heavy Industries, Ltd
- Bucher Hydraulics GmbH
- PARKER HANNIFIN CORP
- DYNAMATIC TECHNOLOGIES LIMITED
- Sapricon Hydraulic Industries
- Gemma Automotive
- Marzocchi Pompe S.p.A.
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