A hydraulic pump is a mechanical source of power that transforms mechanical power into hydraulic energy that is into pressure and flow. It generates flow with enough power to overcome pressure induced by the load at the pump outlet. To overcome pressure caused by the load at the pump outlet, hydraulic pump generates flow with sufficient strength. These pumps can be hydrodynamic or hydrostatic and are used in hydraulic drive systems. These pumps are widely used in various industrial and mobile applications.
The rapid growth of the industrial and infrastructure framework worldwide has contributed to an increase in the need for hydraulic equipment and structures for various executions. A surge in the adoption of hydraulic pumps in hydraulic power transmission system, increasing construction activities across the globe, rising production and sales of automotive vehicles, increasing significance of hydraulic pumps in mining industry, escalating awareness regarding energy saving, and rising adoption rate of hydraulic pumps in various end-use industries owing to its benefits such as simple design, ease of use, flexibility, and versatility are some of the major supporting factors that flourishing the growth of market. However, high manufacturing cost of the hydraulic pump is major restraining factor that could hamper the growth of market.
The study analyses global hydraulic pumps market based on product, application and geography.
Based on product, gear pump segment is anticipated to witness high growth during forecast period. Gear pumps are most economical and simple pumps. The displacement or swept volume of gear pumps for hydraulics will be between about 1 to 200 milliliters. They have the lowest volumetric efficiency among all other pump types. A surge in the adoption of gear pumps for pumping high viscosity fluids such as paints, oil, foodstuffs or resins is driving the growth of market. Moreover, factors such as increasing significance of gear pumps in applications where high pressure output or accurate dosing is required and in applications such as heavy trucks, automobiles, hydraulic lifts, lawn care equipment, and other machine tools are likely to propel market growth during projected timeframe.
Based on application, both mobile and industrial application segment are expected to see remarkable growth in the coming years. An increasing use of hydraulic pumps in applications such as tractors, excavators, loaders, cranes, vacuum trucks, graders, forestry equipment, mining machinery, dump trucks, and many others is accredited to the growth of market. Furthermore, rising importance of hydraulic pumps in injection molding machines, material handling, presses, lifts, mixers, conveyors, forklifts, foundries, pallet jacks, steel mills, slitters, and many other applications is further expanding the growth of market in industrial application segment.
Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific and Rest of the World. Asia Pacific held the largest share of global hydraulic pumps market and is likely to dominate the market over the estimated time frame. A massive presence of various leading hydraulic pump manufacturing companies across the region, rising use of these pumps in end-use industries especially in oil and gas, construction and mining industry and rising industrialization and urbanization are major factors that contribute to the growth of market across the APAC region.
Bosch Rexroth, Eaton Corporation Plc, Parker Hannifin, Daikin, Concentric, Casappa, Nachi-Fujikoshi, Actuant Corporation, Linde Hydraulics GmbH & Co. KG, PERMCO, Dynamatic Technologies Limited, JTEKT HPI, Peerless Engineering, Atos SPA, Avic Liyuan Hydraulic Co. Ltd, Bailey International, LLC, Beijing Huade Hydraulic Industrial Group Co. Ltd, among others.
The study analyses global hydraulic pumps market based on product, application, and geography. Hydraulic Pumps market by product is segmented into gear pump, vane pump, piston pump, screw pumps and bent axis pumps. The gear pump segment is likely to dominate the market over the forecast period. Increased adoption of gear pumps in many industrial applications is attributed to the market growth. The market finds application in mobile application and industrial application. The industrial application segment is likely to register fastest growth in years to come owing to the growing adoption of hydraulic pumps in various end-use industries across the world. Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific and Rest of the World.
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