March 28, 2020

Hydraulic Gear Pumps Market will be Growing at a CAGR of 4.2% during the forecast period from 2019 to 2027

According to a new market research report published by Credence Research “Global Hydraulic Gear Pumps Market  – Growth, Future Prospects and Competitive Analysis, 2019 – 2027”, the global market for hydraulic gear pumps is set to grow with a CAGR of 4.2 percent over the forecast period 2019 to 2027.

Market Insights

The global market for hydraulic gear pumps is highly driven by the technological advancement and increasing applications of hydraulic gear pumps in the automotive and construction industries. There are several advantages to using these pumps over others, such as these pumps can operate under high pressure and the temperature conditions can handle corrosive fluids and others. These pumps are therefore multi-liquid compatible; they can be used in blending and mixing applications.

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Hydraulic gear pump allows a high quantity of liquid to move at a relatively low pressure and a constant flow rate. These types of pumps are used for mobile equipment due to the need for constant flow of hydraulic machines for their operation. Agricultural and construction machines therefore require a hydraulic gear pump that requires a lower pressure of up to 3000 psi.

Based on the type, the market for hydraulic gear pumps has been segmented as internal gear pumps and external gear pumps. Internal gear pumps dominate the segment by type and hold more than 60 per cent in 2018 and are expected to dominate the market during the forecast period due to its mobile application. Internal gear pumps can handle thick fluids by providing more efficiency compared to external gear pumps.

Asia-Pacific is projected to be the fastest-growing regional segment due to the presence of various large industries such as chemical, petrochemical, food & beverages, automotive, construction, agriculture and others. The Asia-Pacific region is expected to grow with a CAGR of more than 5.0% during the forecast period. Moreover, these industries are growing in the region due to technological advancement and government initiative for the development of infrastructure. Additionally, economic developments and advancements in the industrial sector of emerging nations such as India, and China, also contributes to the growth of the market.

Some of the major companies dealing in the market are Bosch Rexroth AG, Linde Hydraulics GmbH & Co. Kg, Eaton Corporation Plc, Bucher Hydraulics GmbH, Kawasaki Heavy Industries, Ltd. Dynamatic Technologies Limited, Parker Hannifin Corp, HYDAC, Gemma Automotive, Sapricon Hydraulic Industries, MarzocchiPompeS.p.A, and Daikin Industries, Ltd.

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Report Scope by Segments

By Vehicle Type Segment

  • Heavy Duty Vehicles
  • Material Handling Vehicles
  • Light Duty Vehicles

By End-User Segment

  • Food & Beverages
  • Chemicals
  • Automotive
  • Oil & Gas
  • Construction
  • Agriculture
  • Pulp & Paper
  • Others

By Type

  • Internal Gear Pumps
  • External Gear Pumps

By Operating Pressure

  • Upto 100 Bar
  • Upto 300 Bar
  • Above 300 Bar

By Geography Segment

  • North America (U.S., Rest of North America)
  • Europe (U.K., Germany, France, Rest of Europe)
  • Asia Pacific (China, Japan, India, Rest of Asia Pacific)
  • Rest of the World (Middle East & Africa, Latin America)

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