Global Hydraulic Pump Market Size Study & Forecast, by Type (Piston Pumps, Gear Pumps, Vane Pumps, Others) by Application (Construction, Oil and Gas, Mining, Agriculture, Automotive, Others) and Regional Analysis, 2023-2030

Global Hydraulic Pump Market Size Study & Forecast, by Type (Piston Pumps, Gear Pumps, Vane Pumps, Others) by Application (Construction, Oil and Gas, Mining, Agriculture, Automotive, Others) and Regional Analysis, 2023-2030

Global Hydraulic Pump Market is valued at approximately USD XX billion in 2022 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030. A hydraulic pump is a mechanical device that converts mechanical power into hydraulic energy. It generates flow with enough power to overcome pressure induced by the load. These pumps are crucial components in hydraulic systems, which are widely used in various industries for generating and transmitting power. Moreover, the growing construction industry, rising demand for mining equipment, expansion of the oil and gas industry, and growing automotive industry that anticipated to create a lucrative demand for the market during the forecast period 2023-2030.

The growing construction industry plays a crucial role in supporting the growth of the hydraulic pump market. The construction projects require heavy machinery such as excavators, loaders, cranes, and forklifts, many of which utilize hydraulic systems powered by hydraulic pumps. As the construction industry expands, the demand for such machinery increases, thereby boosting the demand for hydraulic pumps. According to Oxford Economics, the global construction industry will grow by 85% to USD 15.5 trillion by 2030, with India, China, and the United States capturing a 57% share of all global growth. According to Statista, in 2016 the value of construction work done by Hochtief a global provider of construction-related services was USD 23.30 billion and in 2021 the number reached USD 25.98 billion. Moreover, the advancements in hydraulic technology such as the development of energy-efficient pumps, smart pumps with sensors for condition monitoring, and integration of IoT (Internet of Things) capabilities, and the growing trend of industrial automation and adoption of industry 4.0 that anticipated to create a lucrative opportunity for the market. However, the high maintenance cost and high initial investment stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Hydraulic Pump Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the growing infrastructure development, rising demand in the agricultural sector, growing focus on renewable energy sources, and continuous advancements in hydraulic pump technology, such as the development of more efficient and compact pumps with enhanced performance and reliability, drive market growth. Moreover, the Asia Pacific is expected to grow with the fastest growth rate during the forecast period, owing to factors such as the growing rapid industrialization, growing automotive industry, growing infrastructure development, and rising mining and construction activities.

Major market players included in this report are:
Bucher Industries Ag
Linde Hydraulics GmBH & Co. Kg
Bosch Rexroth Ag
Eaton
Oilgear
Parker Hannifin Corp.
Dynamatic Technologies Limited
Bailey International, LLC
Enerpac Tool Group Corp.
Danfoss As

Recent Developments in the Market:
 In September 2022, Parker Hannifin Corporation was chosen by the US Air Force to provide its AP15V engine-driven pump (EDP) for the hydraulic system of the B-52H Stratofortress. This selection ensures the Parker AP15V EDP, also referred to as the World Pump, will serve as a vital component powering the aircraft's hydraulic system well into the 2050s. Notably, the World Pump offers a 10% reduction in weight while delivering the highest horsepower-to-weight ratio, enhancing the performance capabilities of the aircraft. Thus, the selection of Parker Hannifin Corporation's hydraulic pump for the B-52H Stratofortress by the US Air Force serves as a significant endorsement of the company's technology, credibility, and market potential, thereby supporting the growth of the hydraulic pump market.

Global Hydraulic Pump Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered – Type, Application, Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define the market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters to detailed information about the crucial aspects such as driving factors & challenges that will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with a detailed analysis of the competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Type:
Piston Pumps
Gear Pumps
Vane Pumps
Others

By Application:
Construction
Oil and Gas
Mining
Agriculture
Automotive
Others

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.