Status : Published Published On : Dec, 2022 Report Code : VRCH2091 Industry : Chemicals & Materials Available Format : Page : 200
2022
2030

Global Hydraulic Pump Market – Analysis and Forecast (2022-2030)
Industry Insight by Type (Vane Pumps, Gear Pumps, Piston Pumps, and Others), by Application (Oil & Gas, Construction, Automotive, Chemical & Petrochemical, Water & Wastewater, Power Generation, Food & Beverages, Industrial, Agriculture & Fertilizer, and Others), and Geography (U.S., Canada, Germany, U.K., France, China, Japan, India, and Rest of the World)

Industry Overview

Industry Overview

The global hydraulic pump market size is estimated to grow from USD 11.85 billion in 2021 to USD 15.72 billion in 2030. It will register a CAGR of 4.3% during the forecast period. Hydraulic pumps provide an automatic source of power and transforms mechanical energy into hydraulic or hydrostatic pressure. The forces impacted by the load at the pump channel generate proper energy for the movement. This result in creating a vacuum at the pump entry which forces the fluid to run into the line. Hydraulic pumps are extensively deployed in various industry verticals like oil & gas, automotive, construction, chemical, etc.  The robust development and rapid urbanization in several emerging nations like India and China will propel the market expansion of the global hydraulic pump industry.

Market Segmentation

Insight by Type

Based on Type, the Global Hydraulics Market is segmented into Vane Pumps, Gear Pumps, Piston Pumps, and Others. Gear Pump is further divided into an External Gear pump and Internal Gear Pump. Piston Pump is further divided into Lift pump, Force Pump, Axial Pump, and Radial Piston-Pump. Gear Pumps contribute the largest market share in the global hydraulic pump industry owing to their increased adoption in several applications and are excellent substitute for chemical and industrial processes. Gear pumps have properties like simple design, adaptability, ease of operation, versatility, reasonable price, and is the right fit for several industrial processes.

Insight by Application

Based on Application, the Global Hydraulics Market is segregated into Oil & Gas, Construction, Automotive, Chemical & Petrochemical, Water & Wastewater, Power Generation, Food & Beverages, Industrial, Agriculture & Fertilizer, and Others. The construction industry contributes the largest share in the global hydraulic pump industry owing to the increased adoption of construction equipment in operations like earthmoving, excavation, lifting, and material handling. Both in established and emerging economies, manufacturers are increasing their expenditures in machine tools to enhance their production systems and processes. The development of both of these fields in the upcoming years will be advantageous to hydraulic systems and the building sector.

Global Hydraulic Pump Market Report Coverage

Report Metric

Details

Historical Period

2018–2021

Base Year Considered

2022

Forecast Period

2022 - 2030

Market Size in 2021

$11.85 Billion

Revenue Forecast in 2030

$ 15.72 Billion

Growth Rate

CAGR 4.3%

Segments Covered in the Report

By Type, and By Application

Report Scope

Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling

Regions Covered in the Report

North America, Europe, Asia-Pacific, Middle East, and Rest of the World

Industry Dynamics

Growth Drivers

Factors attributing to the market growth of hydraulic pump market include rising demand for automobiles, increasing expenditure in construction industry, surge in crude oil drilling. Moreover, increased adoption for sustainable equipment and growing dependence on water supply utilities on hydraulic pumps will accelerate the market development for hydraulic pumps industry. Furthermore, increased government investment and government regulations towards reduction of CO2 emissions, rising adoption in mining industry, surge in public awareness regarding energy conservation will fuel market growth. With energy costs continually growing, energy consumption now plays a larger role than ever in the whole cost of machine operation. As a result, the hydraulics industry is looking for energy-saving alternatives.

There are many reserves that are yet to be found, but the necessary tools and equipment are lacking. The tools used can sometimes be ineffectual. On the other hand, hydraulic mining is not a novel idea. For instance, hydraulic jacks have been significant to modern underground mining. The mining rotary breaker has also shown to be quite useful in breaking apart substantial earthen blocks that could otherwise hamper underground mining. Such tools remove obstructions to make it simpler to access the working area in both on-surface and underground mining procedures.

Challenges

The rising use of alternative pumping technologies like piston pumps is anticipated to limit the demand for hydraulic gear pumps. The increased maintenance cost and degrading salvage value of hydraulic pumps will stymie the market expansion further.

Opportunities

The industry players offer several market opportunities in the global hydraulics pump market:

  • Technological Development like an electro-hydraulics machine for e-vehicles, and a robot-operated hydraulic actuator.
  • Increased investment in water and wastewater treatment infrastructure
  • Increased Adoption of Fire-Resistant Hydraulic Fluids Among End-Use Industries

Geographic Overview

  • North America
  • Europe
  • Asia Pacific (APAC)
  • Rest of the World (RoW)

Asia-Pacific is expected to witness highest share in the hydraulic pumps industry owing to the presence of various manufacturing facilities for construction equipment, and material handling equipment.

Agriculture is imposing an impact on APAC's water resources as expanding populations, fast urbanization, and increased energy, industrial, and home consumption have depleted water supplies. Many Asian countries rely largely on groundwater for agriculture. Approximately 80% of Asia's groundwater is used to irrigate crops, with the vast majority of it being wasted. This is projected to drive the rise of hydraulic pumps, as they significantly increase productivity through ease of use and preciseness of control.

North America is expected to have a significant share owing to increased expenditure on construction and mining industries. Furthermore, Shale gas production is done via hydraulic fracturing technology resulting in increased market demand for hydraulic pumps in the region.

Competitive Insight

The presence of a substantial number of regional and international manufacturers globally contributes to the competitiveness and diversity of the global hydraulic pump industry. In order to expand their services and customer base, several manufacturers are steadily working to increase the effectiveness of hydraulic pumps. Additionally, these key players are continuously working to strengthen their position in the market by mergers, acquisitions, product development, partnerships, agreements, and growth projects.

One of the prominent market leaders in hydraulic pump design, production, and innovation is Bosch Rexroth. Rexroth's full line of hydraulic pumps is used in basically every manufacturing and technological application, including railway engineering, chemical processing plants, power and environmental engineering, automotive engineering, machinery for processing plastics, paper industry, presses, test rigs and simulation systems, marine/offshore engineering, special projects, civil/water engineering, transportation technology, and machine tools. Axial piston pumps, external gear pumps, internal gear pumps, gerotor pumps, vane pumps, radial piston pumps, and electro-hydraulic pumps are all part of the hydraulic pump family.

Bucher Hydraulics is one of the major international producer of cutting-edge electrohydraulic systems and provides a wide range of electrical and hydraulic components. Bucher Hydraulics is able to create high-quality solutions that are specifically customised to clients' needs owing to its extensive application knowledge and customer engagement. These solutions meet the highest engineering, safety, and quality criteria and are utilised in numerous equipment throughout the world.  A comprehensive portfolio of hydraulic pumps and motors, including specific axial piston units, internal and external gear units. They are utilised in all mobile applications such as construction equipment, agricultural machinery, and special-purpose vehicles. They are also durable and have a long service life.

Recent Development by Key Players

In November 2022, Danfoss introduces the MBT 2310 bearing temperature sensor to its lineup of sensors for mobile hydraulic applications.

In March 2022, Bailey International LLC is expanding its global operations into India. Bailey currently provides a comprehensive range of hydraulic equipment directly to consumers, in addition to custom hydraulic solutions for OEMs. Bailey has also expanded its Indian-based application engineering capabilities and can now provide full-service design and technical support to customers in India.

Key Players Covered in the Report

Some of the major players in the global hydraulic pumps market include Bosch Rexroth AG, Bucher Industries AG, Danfoss AS, Enerpac Tool Group, Bailey International, Dynamatic Technologies Limited, Eaton, Linde Hydraulics GmbH & Co. KG., PARKER HANNIFIN CORP, and Shibaura Machine CO., LTD.

Hydraulic Pump Market Size and Market Analysis

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Frequently Asked Questions

The global hydraulic pump is expected to grow at a CAGR of 4.3% during the forecast period.
During the forecast period, the global hydraulic pump market is anticipated to be driven by the development of the construction, automotive, and mining industries, where hydraulic pumps are extensively used in a number of operations. The hydraulic pumps are used in a variety of industrial equipment, including cranes, aircraft, forklifts, and amusement parks.
Hydraulic Gear Pumps contributes the largest share in the global hydraulic pump market. The demand for user-friendly pump solutions combined with precise installation will drive the market for hydraulic gear pumps. It also has a wide range of applications in the building and construction sectors.
Asia-Pacific is expected to witness highest share in the hydraulic pumps industry owing to the presence of various manufacturing facilities for construction equipment, and material handling equipment.
Some of the major players in the global hydraulic pumps market include Bosch Rexroth AG, Bucher Industries AG, Danfoss AS, Enerpac Tool Group, Bailey International, Dynamatic Technologies Limited, Eaton, Linde Hydraulics GmbH & Co. KG., PARKER HANNIFIN CORP, and Shibaura Machine CO., LTD.

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Research Methodology

  •  Desk Research / Pilot Interviews
  •  Build Market Size Model
  •  Research and Analysis
  •  Final Deliverabvle

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