Hydraulic Pump Market Size, Share, Trends Analysis & Forecast to 2022-2027
The latest research study “Hydraulic Pump Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global hydraulic pump market size reached US$ 8.35 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 11.76 Billion by 2027, exhibiting a growth rate (CAGR) of 5.65% during 2022-2027.
Hydraulic pumps refer to equipment that transforms mechanical power into hydrostatic energy and is powered by motors that run on natural gas, gasoline, diesel, or electricity. They produce a powerful flow strong enough to overcome the pressure from the load present at the pump outlet. Consequently, a vacuum is created at the pump inlet, forcing liquid from the reservoir into the inlet line, which is mechanically delivered to the hydraulic system. They are energy-efficient, require low maintenance, offer better control, and utilize minimum energy to propel a large amount of liquid. As a result, hydraulic pumps find extensive applications in power transmission systems, conveyors, lifts, steel miles, injection molding machines, and material handling.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Hydraulic Pump Market Trends and Drivers:
The global hydraulic pump market is primarily driven by the increasing need for low-maintenance mechanical devices that can reach high-pressure levels. Moreover, there has been a rise in the use of hydraulic pumps in brick molding machines to reduce labor expenses and manual efforts. In line with this, several favorable initiatives by governments of numerous countries to promote the uptake of eco-friendly devices, such as hydraulic pumps, to minimize greenhouse gas (GHG) emissions due to the growing environmental concerns are positively influencing the product demand. Additionally, the escalating demand for hydraulic pumps due to the increasing consumer awareness regarding power conservation and the rising need to generate renewable energy by updating the existing hydraulic systems has catalyzed market growth. Other factors, including ongoing construction and mining activities, rising product employment in the wastewater infrastructure to remove logged water, and strategic collaborations among key players to enhance product efficacy, are also anticipated to drive the market further.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Bailey International LLC, Bosch Rexroth AG (Robert Bosch GmbH), Bucher Industries AG, Danfoss A/S, Dynamatic Technologies Limited, Enerpac Tool Group, HAWE Hydraulik SE, HYDAC INTERNATIONAL GmbH, Kawasaki Heavy Industries Ltd., Linde Hydraulics GmbH & Co. KG (Weichai Power Co. Ltd.), Moog Inc. and Parker Hannifin Corporation.
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Hydraulic Pump Market Report Segmentation:
The report has been segmented the market into following categories:
Breakup by Product Type:
- Gear Pump
- Vane Pump
- Piston Pump
Breakup by Pressure Range:
- Up to 600 psi
- 601 psi–1000 psi
- More than 1000 psi
Breakup by Application:
- Mobile Application
- Industrial Application
Breakup by End User:
- Oil and Gas
- Chemicals and Petrochemicals
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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