|The global hydraulic pump market size was valued at $9,725.6 million in 2020, and is projected to reach $13,919.0 million by 2030, registering a CAGR of 3.6% from 2021 to 2030.|
The hydraulic pumps includes gear pump, vane pump, , and piston pump. Gear pumps are commonly used in agricultural machinery, mining equipment, automotive, and construction equipment, owing to their superior dirt tolerance and inexpensive cost. The market for construction equipment is expected to be driven by widespread use of construction equipment in operations including excavation, earthmoving, and lifting & material handling. They are also employed in plastic machines and metallurgical equipment where minimal noise is essential.
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Key companies profiled in the hydraulic pump market report include Enerpac Tool Group Corp., Bailey International LLC, Bosch Rexroth AG, Bucher Industries AG, Danfoss AS, Dynamatic Technologies Ltd., Eaton Corporation PLC, Oilgear, Parker Hannifin Corporation, and Linde Hydraulics.
Rise in construction and oil industry drives demand for pistons and gear pumps. Major key players in the hydraulic pump market are manufacturing advanced mobile hydraulic pumps for construction and oil industries. For instance, in February 2020, Parker Hannifin Corporation introduced Electronic High Pressure Mobile Pump – EP2 series and EP3 series (IFPE). Parker EP2 series and EP3 series are piston pumps with closed loop displacement control, which are designed for operations in open circuits and mobile hydraulic systems. Such strategic moves are expected to provide significant growth in the hydraulic pump market.
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Key Findings Of The Study
The report provides an extensive analysis of the current and emerging hydraulic pump market trends and dynamics.
Depending on product type, the gear hydraulic pump segment has dominated the hydraulic pump market, in terms of revenue in 2020.
By application, the mobile application segment registered highest revenue in 2020.
Asia-Pacific region is projected to register highest growth rate in the coming years.
The key players within the hydraulic pump market are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the hydraulic pump industry.
The report provides an extensive analysis of the current trends and emerging opportunities of the hydraulic pump market.
In-depth hydraulic pump analysis is conducted by constructing estimations for the key segments between 2021 and 2030.
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