Hydraulic Pumps Market Research Report on Current Status and Future Growth Prospects to 2030 – SMU Daily Mustang

According to the Market Statsville Group (MSG), the global hydraulic pump market the size should go from $8,465.9 million in 2021 for $13,190.4 million by 2030to CAGR of 4.7% during the study period 2022 to 2030. The need for hydraulic pumps is driven by increasing construction activity around the world, increasing automobile sales, and increased usage in the mining industry. Additionally, government regulations focus on reducing CO2 emissions and raising public awareness of energy conservation. These factors are expected to provide growth opportunities in the hydraulic pump market over the forecast period. Furthermore, growing investment in R&D by major players coupled with advanced technologies will create lucrative opportunities for market growth over the forecast period.

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Global Hydraulic Pumps Market Definition

Hydraulic pumps form a source of mechanical energy that converts mechanical power into hydrostatic energy or hydraulic energy. These pumps maintain flow with sufficient power to overcome load-induced pressure at the pump outlet.

Global Hydraulic Pump Market Dynamics

Drivers: Growth of construction, mining and automotive industries worldwide

The key factor impacting the growth of the hydraulic pumps market is the growth of application industries. Hydraulic pumps have huge application in construction, mining and automotive industries. Additionally, there is an increase in industrialization and urbanization in developing countries like India and China. These countries are in a phase of rapid industrialization due to the increase in population. This has led to an increase in consumer demand for products, accelerating the growth of end-use industries.

The mining industry plays a vital role in the economic growth and development of a country. Many reserves are waiting to be discovered, but the tools and equipment are insufficient to complete the task. Some of the tools used are ineffective. Hydraulic mining, on the other hand, is not a new concept. Hydraulic jacks, for example, have played an important role in modern underground mining. Likewise, the mining rotary crusher has proven to be very useful in breaking up large chunks of earth that might otherwise clog underground mining. In both surface and underground mining processes, these pieces of equipment remove obstacles to allow easier access to the work area.

Constraints: High maintenance cost and degrading salvage value of hydraulic pumps

A hydraulic pump is a complex mix of science, technology, engineering and chemistry. There are two different types of hydraulic pumps; vane pump and radial piston pump. There are a multitude of difficulties to be aware of when it comes to valve pumps and radial piston pumps.

Some of them are:

  • Pump noise is excessive.
  • If the system overheats,
  • The pump is not producing enough pressure.
  • The oil pump does not supply the necessary amount of oil.
  • If a leak occurs at the oil seal,
  • If the pump does not have enough volume,
  • If one of the bearings fails,
  • If the motor is overloaded

All these problems usually arise with the use of a hydraulic pump and therefore lead to high maintenance costs. These problems can have different reasons.

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Scope of the Global Hydraulic Pumps Market

The study categorizes the hydraulic pumps market on the basis of component, waste type, method and application regionally and globally..

By Outlook type (Sales, million USD, 20172030)

  • gear pump
    • External gear pump
    • Internal gear pump
  • vane pump
  • piston pump
    • Lift pump
    • Force the pump
    • Axial pump
      • Closed loop pump
      • Open loop pump
    • Radial piston pump
  • Others

By Outlook app (Sales, million USD, 20172030)

  • Construction
  • Automotive
    • Passenger car
    • commercial vehicle
  • Others

By Outlook control type (Sales, million USD, 20172030)

  • Manual control
  • SJC control

Outlook by region (Sales, million USD, 20172030)

  • North America
  • Europe
    • Germany
    • Italy
    • France
    • UK
    • Spain
    • Poland
    • Russia
    • The Netherlands
    • Norway
    • Czech republic
    • The rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Indonesia
    • Malaysia
    • Thailand
    • Singapore
    • Australia and New Zealand
    • Rest of Asia-Pacific
  • South America
    • Brazil
    • Argentina
    • Colombia
    • Rest of South America
  • The Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • South Africa
    • North Africa
    • Rest of MEA

The gear pump segment is expected to account for the largest market share, by type

Based on type, the global hydraulic pumps market is divided into gear pump, vane pump, piston pump and others. In 2021, the gear pump segment is expected to hold the largest global market share during the forecast period. Hydraulic gear pumps have been used in various applications due to their adaptability, simple design, ease of operation and diversity.

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Hydraulic gear pumps are directly related to the growing demand for industrial equipment across a wide range of industries. Throughout the projection period, the hydraulic gear pump market will be driven by the growing need for user-friendly pumping solutions coupled with proper mounting. Moreover, it has huge application in building and construction industries. Building and construction operations that are thriving in both developed and developing economies are expected to generate significant demand for high quality equipment.

Asia Pacific represents the highest CAGR over the forecast period

Based on regions, the global hydraulic pump market has been segmented into North America, AsiaPacific, Europe, South America, Middle East and Africa. Global, Asia-Pacific region is estimated to hold the highest CAGR in the global hydraulic pump market during the forecast period.

Rising industrialization and stringent laws by government bodies to limit carbon emissions will fuel the growth of hydraulic pumps market in Asia Pacific. Asia Pacific includes China, India, South Korea, Australia, Japan and Rest of Asia Pacific. The growth of hydraulics market in Asia-Pacific is driven by the fast growing construction industry. With the increase in population and urbanization, industrialization is accelerating. Hydraulic pumps are used in various construction equipment which are cost effective and save a lot of time compared to traditional equipment. They help reduce fuel consumption, thereby reducing CO2 emissions. In addition, governments are taking initiatives for construction and the reduction of CO2 emissions.

Key Market Players in Global Hydraulic Pumps Market

The global hydraulic pumps market is highly competitive with major industry players adopting various strategies such as product development, partnerships, acquisitions, agreements, and expansion to strengthen their positions in the market.

Major players in the Global Hydraulic Pumps Market are:

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