The global hydraulic pump market size reached US$
8.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$
12.3 Billion by 2028, exhibiting a growth rate (CAGR) of
5.48% during 2023-2028.
Hydraulic pumps are equipment that convert mechanical power into hydrostatic energy. They can be powered by motors running on gasoline, diesel, natural gas, or electricity. Hydraulic pumps generate a strong flow with enough power to overcome the pressure induced by the load present at the pump outlet. This, in turn, creates a vacuum at the pump inlet, forcing liquid from the reservoir into the inlet line, and through a mechanical action, it delivers this fluid to the hydraulic system. Hydraulic pumps are energy-efficient, offer better control, utilize minimum energy to propel a large amount of liquid, and require low maintenance. Based on these properties, they are extensively used in power transmission systems, injection molding machines, material handling, conveyors, lifts, and steel miles.
Hydraulic Pump Market Trends:
The ongoing construction and mining activities across the globe and the increasing need for low-maintenance mechanical devices that can reach high-pressure levels are majorly driving the market growth. Hydraulic pumps are used in brick molding machines to minimize labor costs and manual efforts. In line with this, the rising environmental concerns have prompted governments of several countries to promote the uptake of eco-friendly devices, such as hydraulic pumps, to reduce greenhouse gas (GHG) emissions, which is acting as another growth-inducing factor. The surging product demand can also be attributed to the increasing need to generate renewable energy, especially by updating the existing hydraulic systems, and growing consumer awareness regarding power conservation. Additionally, the extensive utilization of hydraulic pumps in automobiles to support the vehicle weight, provide a smoother ride, and feed the torque converter and transmission cooler is impelling the market growth. Other factors, such as the rising product employment in the wastewater infrastructure to remove logged water and strategic collaborations amongst key players to enhance product efficacy, are positively stimulating the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global hydraulic pump market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product type, pressure range, application and end user.
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
Breakup by Region:
- North America
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.
|Base Year of the Analysis
||Product Type, Pressure Range, Application, End User, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||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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Key Questions Answered in This Report:
- How has the global hydraulic pump market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global hydraulic pump market?
- What are the key regional markets?
- What is the breakup of the market based on the product type?
- What is the breakup of the market based on the pressure range?
- What is the breakup of the market based on the application?
- What is the breakup of the market based on the end user?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global hydraulic pump market and who are the key players?
- What is the degree of competition in the industry?