Global Hydraulic Gear Pump Market to Register Stable Expansion During 2017 - 2027
Hydraulic gear pumps are deployed to pump enormous amounts of fluid at a constant flow rate at a relatively low pressure. As most of the hydraulic machines demand a constant flow rate at low pressure for their operation, hydraulic gear pumps find applications in construction equipment, agricultural machineries and movable machines, among others. Considering the vital applications of hydraulic gear pumps pertaining to safety and security, the study of global hydraulic gear pumps market becomes a necessity.
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Global Hydraulic Gear Pump Market: Market Segmentation
On the basis of product type, the global hydraulic gear pump market is segmented as follows:
External gear hydraulic gear pumps
Internal gear hydraulic gear pumps
Moreover, on the basis of end-use industry, the global hydraulic gear pump market is segmented into:
Mining & Metallurgy
Automotive & Transportation
Chemicals & Petrochemicals
Global Hydraulic Gear Pump Market: Key Trends, Drivers
Hydraulic gear pumps are found to be relatively less expensive than radial piston pumps, axial piston pumps and vane pumps due to their simple design and subsequent ease of construction. Hence, they are a preferred choice when limited capital expenditures restrict expensive purchases of pumping equipment. Their price effectiveness is hence expected to drive the hydraulic gear pump market in the near future.
It has also been observed that due to the relatively less work stress exerted on the gears, hydraulic gear pumps incur low maintenance costs as the wearing out of the main bushing is gradual and hence frequency of their maintenance and breakdowns vis-à-vis other types of hydraulic pumps are much lesser, thereby driving the market demand for hydraulic gear pumps.
Another important feature of hydraulic gear pumps is that integral valve preferences and accessories could enhance the versatility of usage of hydraulic gear pumps as compared to variable displacement pumps. This also helps in considerable cost reductions as well, which has been propelling the sales of hydraulic gear pumps in recent times. Recently, it has been found that hydraulic gear pumps can be used for power home elevators with an added advantage of elevators requiring very less maintenance.
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The pressures at which hydraulic gear pumps operate match the operating pressures of piston pumps with subsequently low operating costs. Also, the options of integral load-sensing in gear pumps deliver hydraulic gear pumps the capabilities to offer variable flow rates, thereby driving the growth of the hydraulic gear pump market. Hydraulic gear pumps also have lower filtration requirements and relatively simple circuits when compared to piston equipment. The aforementioned factors are expected to bolster the growth of the global hydraulic pump market.
Besides these, manufacturers of hydraulic gear pumps have been focusing on online sales channels as a faster and more efficient sales medium apart from expanding their geographical footprint by collaborating with local and international distributors, in order to increase their sales. This move by manufacturers is projected to boost the hydraulic pump market growth.
However, pertaining to the long term growth of the hydraulic pump market, the rising demand for the production of renewable energy is expected to fuel the market growth, especially through upgrading the existing hydraulic equipment.
Global Hydraulic Gear Pump Market: Market Participants
Some of the examples of market participants in the global hydraulic gear pump market identified across the value chain include:
Eaton Corporation Plc
Bosch Rexroth AG
Parker Hannifin Corp
Dynamatic Technologies Limited
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