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Hydraulic Pump Market by Product Type (Gear pump, Vane pump) Application (Mobile application, Construction) Global Analysis and Industry Forecast 2022

02-07-2019 09:38 AM CET | Industry, Real Estate & Construction

Press release from: Allied Market Research

Hydraulic Pump Market

Hydraulic Pump Market

The world hydraulic pump market is segmented based on product type, application and geography. Based on product type, the market is categorized into gear pump, vane pump and piston pump. Gear pumps would dominate the market throughout the analysis period; however, piston pumps would witness fastest growth due to increasing adoption in high pressure application areas such as mining. Market by application comprises mobile and industrial application. Industrial applications segment would grow at a faster pace due to increasing usage of hydraulic pumps in the manufacturing industry.

Sub-divisions of the mobile application segment include construction, agriculture, mining and others. The pumps used across various application areas differ in terms of material, operating pressure, temperature and frequency.
Hydraulic Pump Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $10.4 billion by 2022, registering a CAGR of 4.7% during the period 2016-2022. In the year 2015, the Asia-Pacific region accounted for the largest market share of 36.7%, followed by North America. Growth in developing countries including China and India would primarily be supplemented by increasing usage of hydraulic pumps in manufacturing industry, construction activities and in automobiles.

The Asia-Pacific region was estimated to be the largest market in terms of revenue owing to higher usage of hydraulic pumps in the manufacturing industry. The region is expected to grow at the highest CAGR of 5.5% during the forecast period on account of increase in utilization of hydraulic pumps in manufacturing industry, construction equipment and in automobiles. LAMEA is forecast to grow at a CAGR of 4.8% due to increasing application of piston pumps in oil extraction and mining activities.

Based on type, hydraulic pumps are classified as vane, piston, and gear pumps. Among all product types, gear pumps dominated the market in 2015, accounting for over 50% of the overall market revenue owing to their compatibility with varied fluid types and lower cost as compared to other product types. Piston pump is expected to be the fastest growing product category, on account of its high efficiency, reliability, and increasing usage in high
pressure application areas such as mining, construction, and others.

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Market by application comprises mobile and industrial application. Sub-segments of the mobile application segment includes construction, agriculture, mining and others. In the year 2015, the mobile application segment occupied a major share of the overall market. However, the industrial segment is anticipated to grow at a faster rate during 2016 - 2022, owing to increasing application of hydraulic pumps in manufacturing activities in the developing economies.

Key Findings of Hydraulic Pump Market:
• In the year 2015, Asia-Pacific was the highest revenue-generating region for hydraulic pumps, followed by North America
• Growth in LAMEA is likely to be supplemented by increasing usage of hydraulic pumps in mining and oil extraction activities
• Gear pumps are the most commonly used hydraulic pumps worldwide
• Mobile application was the major revenue-generating application segment in 2015
• The industrial application segment would grow at a faster CAGR of 5.5% during 2016-2022

The key market players profiled are Bosch Rexroth Ltd., Eaton Corporation Plc, Danfoss Power Solutions, Parker Hannifin Corporation, Actutant Corporation, Bailey International LLC, Linde Hydraulics, Dynamatic Technologies Ltd., Hydac International and Toshiba Machine Co. Ltd. Manufacturers have launched innovative hydraulic pumps to strengthen their foothold in the market. For instance, Eaton Corporation Plc introduced a new series of piston pumps for mobile applications, called X 20 open system piston pumps to strengthen its position in the market.

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Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.

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