Global Hydraulic Pumps Market Projected to Grow at 6.6% CAGR, Reaching $14.26 Billion by 2029

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What Will the Hydraulic Pumps Industry Market Size Be by 2025?
The market for hydraulic pumps has seen a significant upsurge over the past few years. It's projected that the industry, which was valued at $10.47 billion in 2024, will experience an increase to $11.05 billion in 2025, reflecting a compound annual growth rate (CAGR) of 5.6%. The past growth in this sector can be linked to the demand in the automotive sector, expansion in construction and infrastructure, the use of agricultural machines, oil and gas exploration ventures, and the flux in the mining industry.

What's the Long-Term Growth Forecast for the Hydraulic Pumps Market Size Through 2029?
Expectations are high for the hydraulic pumps market in the coming years, with projections indicating robust growth. The market is forecasted to reach a valuation of $14.26 billion by 2029, expanding at a compound annual growth rate (CAGR) of 6.6%. The surge in growth during the forecast period is anticipated to be driven by factors such as increases in renewable energy projects, trends in electrification, the advent of smart hydraulic systems, modernization of infrastructure, and a strong focus on energy efficiency. Key trends expected during this forecasted period include the rising prominence of electric hydraulic pumps, the incorporation of IoT and data analytics, a focus on industry 4.0 integration, expanding demand for variable displacement pumps, and a heightened emphasis on sustainability.

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What Are the Key Growth Drivers Fueling the Hydraulic Pumps Market Expansion?
Growing construction-based activities are propelling the growth of the hydraulic pumps market. Widely utilized in construction machinery like excavators, cranes, loaders, among others, hydraulic pumps are essential for pushing, lifting, or pulling hefty loads during routine operations. Given their integral role in heavy lifting equipment, a global surge in construction activities is seen to trigger a heightened demand for hydraulic pumps. The U.S. Census Bureau's report on construction spending as of March 2022 highlighted that $376.6 billion was spent on construction in the first quarter of 2022, marking a 12.0% increase compared to $336.3 billion during the same period in 2021. Hence, escalating construction activities are anticipated to strengthen the demand for hydraulic pumps over the projected period.

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What Are the Key Trends Driving Hydraulic Pumps Market Growth?
Product advancement is a significant trend rising in popularity in the hydraulic pump industry. Many organizations in the hydraulic pump sector are creating revolutionary products with cutting-edge technologies to consolidate their standing in this market. For instance, as per a report published by Grundfos in October 2024, a technology firm based in the US launched a new SP 6-inch hydraulic pump. This product has been designed to boost energy efficiency and minimize operational costs in areas such as irrigation and groundwater extraction. The pump, with its progressive hydraulic design and innovative motor technology, smartly manages energy consumption through an intelligent control system, resulting in considerable savings. The pump's sturdy build guarantees resilience in harsh environments, underlining Grundfos's dedication to sustainable water management and ecological responsibility.

How Is the Hydraulic Pumps Market Segmented?
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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Which Companies Are Leading the Charge in Hydraulic Pumps Market Innovation?
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.

Which Regions Are Leading the Global Hydraulic Pumps Market in Revenue?
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.

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