This report analyzes the global hydraulic pumps market in terms of product type, end-use application, and geography. Based on product type, the global hydraulic pumps market is segregated into gear pumps, piston pumps and vane pumps. Similarly, on the basis of end-use application, the market for hydraulic pumps is further classified into construction and earth moving, oil and gas, mining, agriculture, manufacturing and material handling, and automotive among others. The geographical distribution of the global hydraulic pumps market considered in this study encompasses regional markets such as North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Overview:
Flourishing construction industry post economic recession is identified as the major factor driving hydraulic pumps market. In addition, drive towards industrial automation to reduce lead time, enhance productivity, and conserve energy is also expected to boost demand for hydraulic pumps. These factors are expected to contribute towards a CAGR of 4.5% during the forecast period 2015 – 2023.
1.1 Report Description
Purpose of the Report
The purpose of this strategic research study titled “Hydraulic Pumps Market - Growth, Share, Opportunities, and Competitive Analysis, 2015 – 2023” is to offer industry investors, company executives, and industry participants with in-depth insights to enable them make informed strategic decisions related to the opportunities in the hydraulic pumps market.
1.1.1 Target Audience
1.1.2 USP and Key Offerings
The report titled “Global Hydraulic Pumps Market - Growth, Share, Opportunities, and Competitive Analysis, 2015 – 2023” offers strategic insights into the global hydraulic pumps market along with the market size and estimates for the duration 2015 to 2023. The said research study covers in-depth analysis of multiple market segments based on product type, end-use application, and cross-sectional study across different geographies. In order to help strategic decision makers, the report also includes competitive profiling of the key industry participants, their SCOT (Strength, Challenges, Opportunities, and Weaknesses) analysis, market positioning, and recent developments. Other in-depth analysis provided in the report includes:
Overall, the research study provides a holistic view of the global hydraulic pumps market, offering market size and estimates for the period from 2015 to 2023, keeping in mind the above mentioned factors.
In the base year of 2015, gear pumps led the global hydraulic pumps market followed by piston and vane pumps. The segment accounted for over half of the global market revenue in the same year. Over the forecast period 2015 - 2023, hydraulic gear pumps is expected to remain the largest revenue contributing product segment. The hydraulic gear pumps have extremely tight fits and tolerances, and are capable of operating against high differential pressures. Thus, gear pumps find increasing use in construction, mining and material handling applications. In addition, hydraulic gear pumps are relatively cheap as compared to other product variants. Although hydraulic gear pumps are expected to remain the major product segment, hydraulic piston pumps are expected to witness comparatively higher growth during the forecast period 2015 – 2023. The anticipated growth can be attributed to the superior efficiency and reliability offered by hydraulic piston pumps over other variants. Thus, hydraulic piston pumps are witnessing growing adoption in high pressure application verticals such as mining and earth moving.
Hydraulic pumps are used in construction equipment such as excavators, loaders, and earth movers to convert mechanical energy into hydraulic energy and allow fluid to transmit the requisite force throughout the machinery. In the base year of 2015, construction and earth moving was the largest application segment in the hydraulic pumps market. The segment accounted for around one-fourth of the global hydraulic pumps market revenue in the same year. Swift recovery by the construction and real estate industry post economic recession, especially in developed economies and the infrastructural development in Asia Pacific is driving the construction equipment market, which, in turn has positive impact on the demand for hydraulic pumps. Thus, construction and earth moving application segment is presumed to exhibit strong growth over the forecast period 2015 – 2023. On the other hand, manufacturing and material handling segment is poised to witness healthy growth in demand over the forecast period. The drive towards industrial automation to reduce lead time, enhance productivity, and conserve energy is expected to boost demand for industrial and material handling machinery across the globe.
In the base year of 2015, Asia Pacific was the largest hydraulic pumps market in terms of both revenue and unit shipments. China was the largest individual hydraulic pumps market in Asia Pacific followed by India and Japan. Asia Pacific led the global hydraulic pumps market on account of the flourishing construction and real estate industry. The demand for hydraulic pumps in the region is also supported by the growing demand for automation in industrial and agricultural operations. On the other hand, the market for hydraulic pumps in North America and Europe witnessed a gradual slowdown in the beginning of decade on account of unstable economic conditions in these regions. However, with construction industry showing signs of recovery post economic recession, the demand for hydraulic pumps is anticipated to witness upswing. The growth is also supported by the replacement demand for piston and gear pumps.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Hydraulic Pumps market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Product type
| |
End-use application
| |
|
Region Segment (2022-2032; US$ Million)
|
Key questions answered in this report
