According to a report by Future Market Insights (FMI), the vane pump market is expected to reach a valuation of USD 2,442.4 million in 2024, up from USD 2,311.1 million in 2023. The market is projected to grow at a compound annual growth rate (CAGR) of 5.6% between 2024 and 2034, reaching USD 4,292.1 million by 2034.
Vane pumps, a type of positive displacement pump, are gaining traction across various industries, including automotive and aviation, due to their reliability in hydraulic systems. Their compact design and ease of handling make them an attractive choice for industries seeking efficient and user-friendly equipment. Additionally, vane pumps are known for their low noise output, a key advantage for busy industrial environments where noise reduction is a priority.
However, the presence of alternatives, such as gear pumps and piston pumps, poses a challenge to the growth of the vane pump market. These alternative technologies offer similar functionalities, particularly in handling high-viscosity liquids, which limits the market expansion of vane pumps.
Key Takeaways from the Vane Pump Market:
- The vane pump industry is estimated to be valued at US$ 2,442.4 Million in 2024.
- Heavy duty vane pumps are the most common in the market. In 2024, heavy duty vane pump is projected to account for 32.0% of the market share by product type.
- The aviation industry widely employs vane pumps. In 2024, the aviation segment is expected to hold 24.0% of the market share by the end-use industry.
- India is one of the leading countries in the market. Over the forecast period, the CAGR for the market in India is predicted to be 6.3%.
- China is another Asian country with potential for the market. The CAGR for the market in China is anticipated to be 6.1% during the forecast period.
- The United Kingdom is one of the European countries with lucrative opportunities for market growth. The CAGR for the United Kingdom market is pegged at 5.2% through 2034.
Competition Analysis of the Vane Pump Industry:
Market players are looking to manufacture vane pumps that have enhanced efficiency and even lower noise levels. Technology is playing a key part in helping market players to reach their desired goals. The market for vane pumps is competitive, with high-end players tussling with local brands. Some of the prominent companies in the market are Eaton Corporation plc, Parker Hannifin Corporation, Bosch Rexroth AG, and Danfoss A/S.
Key Players Operating in the Global Vane Pump Industry:
- Eaton Corporation plc
- Parker Hannifin Corporation
- Bosch Rexroth AG
- Danfoss A/S
- Moog Inc.
- Kawasaki Heavy Industries Ltd.
- Eaton Fluid Power Ltd.
- Atos Spa
- Permo Inc.
- Bucher Hydraulics Gmb
Vane Pump Market Segmentation Analysis:
By Product Type:
- Heavy Duty
- Light Duty
- Unbalanced
- Balanced
- Flexible
- Others
By End Use:
- Aviation
- Oil & Gas
- Automotive
- Food & Beverage
- Others
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
Report Preview: https://www.futuremarketinsights.com/reports/vane-pump-market
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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