The hydraulic gear pumps market is positioned for considerable growth, with a projected valuation of approximately USD 2,031.1 million by the end of 2024. Forecasts indicate a notable Compound Annual Growth Rate (CAGR) of 3.7% from 2023 to 2033, driving substantial market expansion and an estimated market value of around USD 3 billion.
Hydraulic gear pumps are widely recognized for their exceptional versatility across various industrial sectors, including hydraulic power units, material handling equipment, hydraulic presses, and agricultural machinery. They are expected to play a pivotal role in enhancing operational efficiency within these industries.
Driving Forces and Key Trends:
- Enduring Performance and Reliability: Hydraulic gear pumps are highly esteemed for their durable performance and reliability, making them a preferred choice across diverse industries.
- Efficiency in Fluid Handling: These pumps exhibit remarkable efficiency in handling large fluid volumes at significant velocities, thereby playing a crucial role in fluid transfer applications.
- Cost-Effectiveness: Hydraulic gear pumps are frequently selected for their cost-effectiveness relative to alternative pump types, providing an economically viable solution for various applications.
- Demand in Industrial and Construction Equipment: The projected increase in demand for industrial and construction equipment over the coming decade is expected to propel the adoption of hydraulic gear pumps.
Challenges and Constraints:
- Maintenance Costs: The comparatively elevated maintenance costs associated with hydraulic gear pumps could hinder market growth, potentially leading to increased operational expenses.
Competitive Landscape:
The competitive landscape of the global hydraulic gear pumps market is marked by collaborations, agreements, and innovations among players striving to gain a competitive edge. Manufacturers are focusing on designing more energy-efficient pumps to align with the growing demand for sustainability. Some market participants are intensively collaborating with original equipment manufacturers (OEMs) for long-term business opportunities.
Innovations and Partnerships Powering the Market:
Market leaders are spearheading advancements in hydraulic gear pump technology:
Airbus Defence and Space and Liebherr-Aerospace Collaboration: In April 2023, a significant partnership between Airbus Defence and Space and Liebherr-Aerospace was announced. This collaboration aims to develop and manufacture the landing gear and hydraulic system for the Eurodrone remote piloted air system (RPAS).
Concentric AB’s CAD Download Tool: In August 2023, Concentric AB, renowned for its fluid power and flow control systems, introduced a CAD download tool in partnership with CADENAS PARTsolutions. This tool enhances custom hydraulic solutions, expediting design engineers’ speed to market, and ensuring an unparalleled customer experience.
List of Key Players Covered in Hydraulic Gear Pumps Market are:
- Eaton Corporation Plc
- PARKER HANNIFIN CORP
- Bucher Hydraulics Gmbh
- KYB Corporation
- CASAPPA S.p.A.
- Bosch Rexroth AG
- Dynamatic Technologies Ltd.
- Linde Hydraulics GmbH & Co. KG
- Roper Pump Company
- Kawasaki Heavy Industries, Ltd.
- Concentric AB.
- Viking Pump Inc.
Hydraulic Gear Pumps Market by Category:
By Type:
In terms of type, the industry is divided into external gear pumps and internal gear pumps.
By Operating Pressure:
In terms of operating pressure, the industry is divided into up to 15 bar, 15 – 50 bar, 50 – 150 bar, 150 – 250 bar, 250 – 300 bar and More Than 300 bar.
By Technology:
In terms of Technology, the industry is divided into self-contained, remote condensing, and multiple condensing.
By End Use:
In terms of end use, the industry is segregated into construction equipment, mining equipment, automotive, material handling equipment, off-highway vehicles, processing industry, and industrial machinery and equipment. The processing Industry is further categorized into chemicals, petrochemicals, oil & gas refineries, and others.
By Region:
Key regions of North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and Middle East & Africa have been covered in the report.
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Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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