Hydraulic Pumps Market – Key Research Findings
- Global hydraulic pumps market was valued at nearly US$ 6,535 Mn in 2017
- The hydraulic pumps market is pegged to observe robust growth with a 5.4% CAGR over 2018 - 2028
- South Asia and Europe are expected to remain the largest regional markets for hydraulic pumps throughout the forecast period
- Economic growth, urban population and industrialization in South Asian countries such as India and the presence of one of the biggest manufacturing hubs in Europe are expected to be the main factors driving the demand for hydraulic pump
- South Asia and East Asia regions are expected to create high growth opportunities for the manufacturers of hydraulic pumps over the forecast period
- Rapid growth of end-use industries in the region, coupled with the thriving economy, is expected to be the key factor contributing to the growth of the hydraulic pumps market within these regions, particularly in rapidly growing economies such as China and India
- Gear pumps is expected to remain as a high volume segment in the hydraulic pumps market, owing to the simple construction and wide applications of these pumps in end-use industries
- Growing adoption of piston pumps in various pumping application is expected to drive the growth of different piston type pumps over other pumps in the product type segment in hydraulic pumps market.
Top 3 Factors Shaping Hydraulic Pumps Market
- End-use Industries’ Growth Benefiting the Growth of Hydraulic Pumps Market
One of the key factors driving the growth of the hydraulic pumps market is rapid industrialization and urbanization in key developing countries such as China and India. These countries are in a phase of witnessing rapid industrialization due to growing urban population. This in turn has led to an increase in consumer needs and products, which has been affecting the growth of end-use industries.
The cumulative growth of end-use industries has directly impacted the demand for hydraulic pumps. With a large number of manufacturing industries being set-up, and planned expansions taking place across industries, the demand for hydraulic pumps is expected to witness robust growth during the forecast period.
- Growing Investments in Water and Wastewater Treatment Facilities to be a Booster for Hydraulic Pumps Market
Governments of emerging economies in Africa and Asia, particularly in countries such as India, China and South Africa, are increasing efforts to improve access to drinking water in rural as well as urban areas.
With the increased investments and activities undertaken by respective governments, the demand for hydraulic pumps is set to witness significant growth in the coming years.
- Use of Fire-Resistant Hydraulic Fluids Gaining Traction Among End-use Industries
Fire-resistant hydraulic fluids are new hydraulic fluids that are gaining significant momentum in demand from key end-use applications. They possess a higher water content of up to 45%, which enables better lubrication, reduces wearing and offers better corrosion resistance to moving parts.
Hydraulic pumps tend to wear out easily as they are operated continuously for long stretches of time, which leads to an increased need for better hydraulic fluids to improve the life of hydraulic pumps.
Hydraulic Pumps Market Structure Analysis
- The global hydraulic pumps market represents a fairly fragmented competition landscape wherein Tier-1 companies hold about a 35–40% revenue share.
- The emergence of a large number of manufacturers of hydraulic pumps from China that offer low-cost hydraulic pumps has created a huge price variation in the hydraulic pumps market around the globe
- Leading players in the hydraulic pumps market are concentrating on the expansion of their market footprint in key developing regions along with strategic collaborations with domestic players to maintain their position as market leaders
- Important entrants in the hydraulic pumps market such as Optima Hydraulik Germany MARCH PUMPEN GmbH are focusing on domestic markets to hold a significant market share in the largely fragmented hydraulic pumps market.
Persistence Market Research, in its recent study on the hydraulic pumps market, offers a detailed value-volume analysis of the hydraulic pumps market on the basis of various segments such as product type, operation, end use and region. In terms of product type, the gear pump type segment is estimated to lead the market share in terms of value, while the bent axis hydraulic pumps segment is projected to be a lucrative segment in the hydraulic pumps market.
Hydraulic pumps are widely used among industrial applications as key components of hydraulic systems. Hydraulic pumps find a large number of applications in end-use industries, particularly construction, material handling, oil & gas, chemicals and agriculture, which require the use of simple or complex hydraulic systems in their day-to-day operations. With these end-use industries projected to witness significant growth in the coming years, the hydraulic pumps market is expected to experience robust growth opportunities over the forecast period.
The hydraulic pumps market report covers market analysis through basis point analysis (BPS), incremental dollar opportunity index, market attractiveness analysis and Y-o-Y growth for the historical period 2013–2017 and a forecast analysis for 2018–2028 with 2017 as the base year.
An Overview of the Hydraulic Pumps Market Report
Hydraulic Pumps Market: Executive Summary
The hydraulic pumps market report begins with an executive summary covering a gist of the overall report, highlighting the global hydraulic pumps market overview in terms of value and volume through various segments. The section also covers key supply and demand side trends, technology roadmap, PMR analysis and recommendation in the global hydraulic pumps market.
Hydraulic Pumps Market: Introduction
The market introduction section of the report covers market definition, market taxonomy and research scope of the hydraulic pumps market.
Hydraulic Pumps Market: Background
The market background section of the global hydraulic pumps market report includes macroeconomic factors along with value chain analysis, drivers, restraints, trends, and opportunities, along with forecast factors affecting the hydraulic pumps market growth.
Hydraulic Pumps Market: Segmentation
- Fixed Displacement
- Gear Pumps
- Screw Pumps
- Gerotor Pumps
- Variable Displacement
- Rotary Vane Pumps
- Radial Piston Pumps
- Axial Piston Pumps
- Bent Axis Hydraulic Pumps
- Electro Hydraulic
- Oil & Gas
- Chemical & Petrochemical
- Water & Wastewater
- Metals & Mining
- Material Handling
- North America
- Latin America
- South Asia
- East Asia
- Middle East & Africa
Hydraulic Pumps Market: Forecast
The market forecast section provides a pricing analysis of the hydraulic pumps market on the basis of regional fronts, wherein the weighted average price has been computed to arrive at the global average prices. This section also covers global market analysis on the basis of segments, along with regional segmental analysis in terms of volume and value, Y-o-Y growth, market attractiveness index and market share.
Hydraulic Pumps Market: Emerging Countries Analysis
This section covers the hydraulic pumps market analysis for the key emerging countries that are projected to create lucrative growth opportunities for hydraulic pump manufacturers around the world.
Hydraulic Pumps Market: Competition Analysis
In the final section of the hydraulic pumps market report, a detailed competition analysis was done with market share analysis pertaining to the hydraulic pumps market and performance of manufacturers by a tier-down structure of the global hydraulic pumps market.
The section also covers detailed company profiles of key players in the hydraulic pumps market report. Examples of some of the key competitors in the hydraulic pumps market are Bosch Rexroth AG, Eaton, Flowserve Corporation, Graco Inc., Actuant Corporation, Mitsubishi Heavy Industries, Danfoss A/S, PWG S.r.l., HYDAC, Yuken India and Tuthill Corporation, among others.
The first stage of the hydraulic pumps market research entailed the formulation of a preliminary hypothesis, which was considered from primary as well as secondary approaches. To analyse the hydraulic pumps market share and competition analysis section, we tracked key developments in the hydraulic pumps market, such as collaborations, expansion, mergers & acquisitions, new orders, product launches, awards and recognition for companies operating in the market. Competition benchmarking has been provided for the top 5 competitors with respect to sales performance of hydraulic pumps.