Press release
Strong Growth Ahead: Hydraulic Pumps Market Size To Grow At Arecord 6.6% Cagr By 2029
Hydraulic Pumps
What Is the Projected Growth of the Hydraulic Pumps Market?
In the past few years, the market size for hydraulic pumps has significantly expanded. It is predicted to escalate from $10.47 billion in 2024 to $11.05 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 5.6%. The imminent growth during the historical period is primarily due to the demand from the automotive industry, construction and infrastructure advancement, agricultural equipment, oil and gas discovery, and the mining industry's dynamics.
In the coming years, the market size for hydraulic pumps is forecasted to witness robust growth, potentially reaching $14.26 billion in 2029, at a compound annual growth rate (CAGR) of 6.6%. The projected growth within this period is largely due to an upsurge in renewable energy projects, the trend of electrification, the advancement of smart hydraulic systems, modernization of infrastructure, and a heightened focus on energy efficiency. The forecast period is also poised to see major trends such as the emergence of electric hydraulic pumps, the amalgamation of IoT and data analytics, a greater emphasis on Industry 4.0 integration, a surging demand for variable displacement pumps, and a heightened focus on sustainability.
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What Are the Different Hydraulic Pumps Market Segments?
The hydraulic pumps market covered in this report is segmented -
1) By Product Type: Gear Pump, Vane Pump, Piston Pump, Screw Pump
2) By Application: Mobile Application, Industrial Application
3) By End User Vertical: Construction, Mining, Agriculture, Machinery, Automotive
Subsegments:
1) By Gear Pump: External Gear Pumps, Internal Gear Pumps
2) By Vane Pump: Fixed Displacement Vane Pumps, Variable Displacement Vane Pumps
3) By Piston Pump: Axial Piston Pumps, Radial Piston Pumps
4) By Screw Pump: Single Screw Pumps, Twin Screw Pumps
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What Are the Primary Drivers Shaping the Hydraulic Pumps Market?
The hydraulic pumps market is being propelled by a surge in construction activities. In construction machinery like excavators, cranes, loaders, among others, hydraulic pumps are crucial as they help lift, pull, and push bulky loads in regular operational activities. The uptick in global construction activities is likely to fuel the demand for hydraulic pumps, given their integral role in heavy lifting equipment. The U.S. Census Bureau's report on construction expenditure in March 2022 indicated that construction investments hit $376.6 billion in the initial three months of 2022, marking a 12.0% rise from $336.3 billion during the equivalent period in 2021. Consequently, the escalating construction activities are anticipated to catalyze the demand for hydraulic pumps throughout the forecast period.
Which Companies Are Leading in the Hydraulic Pumps Market?
Major companies operating in the hydraulic pumps market include Daikin Industries Ltd., Dynamatic Technologies Limited, Eaton Corporation PLC, Parker Hannifin Corporation, Kawasaki Heavy Industries Ltd., Danfoss A/S, Atos Spa, Bosch Rexroth AG, Bucher Industries AG, KYB Corporation, Haldex Hydraulics Corporation, CIRCOR Pumps North America LLC, HAWE Hydraulik GmbH, Enerpac Tool Group LLC, Linde Hydraulics GmbH & Co. KG, Cessna Fluid Power LLC, CASAPPA S.p.A., Hydraulic Supply Company, Permco Inc., Oilgear Company, Perfection Hydraulics Inc., Cross Manufacturing Inc., Bailey International LLC, Bondioli & Pavesi S.p.A., HYDAC International GmbH, Brevini Fluid Power S.p.A.
What Are the Major Trends Shaping the Hydraulic Pumps Market?
The trend of product innovation is increasingly becoming significant in the hydraulic pump industry. Many firms in this sector are focusing on the creation of innovative products incorporating cutting-edge technology to solidify their footing in the market. For example, in October 2024, Grundfos reported that a technology company based in the US introduced a new SP 6-inch hydraulic pump. It's specially engineered to increase energy efficiency and decrease the operational costs in procedures like groundwater extraction and farming irrigation. The pump comes with an advanced hydraulic system and innovative motor technology that reduces energy use via a sophisticated control system, resulting in notable savings. The sturdy build ensures the pump can withstand tough conditions, underlining Grundfos's ongoing dedication to sustainable water management and environmental stewardship.
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What Are the Top Revenue-Generating Geographies in the Hydraulic Pumps Market?
North America was the largest region in the hydraulic pumps market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hydraulic pumps market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Hydraulic Pumps Market?
2. What is the CAGR expected in the Hydraulic Pumps Market?
3. What Are the Key Innovations Transforming the Hydraulic Pumps Industry?
4. Which Region Is Leading the Hydraulic Pumps Market?
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