The global hydraulic pumps market was estimated to be valued at USD 10,135.86 million in 2018 and is projected to reach USD 13,972.84 million by 2025, at a CAGR of 4.69% during 2018 to 2025. Scope of global hydraulic pumps market includes by Type (Hydraulic Gear Pumps, Hydraulic Vane Pumps, Hydraulic Piston Pumps), by Application (Automotive & Transportation, Construction & Mining, Oil & Gas), and by Region (North America- U.S., Canada; Europe- U.K., France, Germany; Asia-Pacific- China, Japan, India; Latin America- Brazil, Mexico; Middle East & Africa- South Africa, Saudi Arabia).
A hydraulic pump is a mechanical source of power that converts mechanical power into hydraulic energy (hydrostatic energy i.e. flow, pressure). It generates flow with enough power to overcome pressure induced by the load at the pump outlet. When a hydraulic pump operates, it creates a vacuum at the pump inlet, which forces liquid from the reservoir into the inlet line to the pump and by mechanical action delivers this liquid to the pump outlet and forces it into the hydraulic system.
Growing adoption of home and building automation systems, increasing demand for energy-efficient devices/appliances are some of the factor for market growth. However, increase in adoption of high-voltage direct current (HVDC) and renewable energy remain restrain the growth of the market.
South Korea Hydraulic Pumps Market Revenue, 2015 - 2026
Based on type, the market is segmented into Hydraulic Gear Pumps, Hydraulic Vane Pumps, and Hydraulic Piston Pumps. In 2018, Hydraulic Gear Pumps held majority of the market share globally. This is attributed to strong revenue growth of mechanical components market. The heavy demand from several end-use industries is propelling the growth of this segment over the forecast period as well. Globally, the Hydraulic Gear Pumps segment accounted dominated the global market in 2018.
Based on application, the market is segmented into Automotive & Transportation, Construction & Mining, Oil & Gas, and others. In 2018, Automotive & Transportation segment dominated the market. However, Construction & Mining is expected to grow with the highest CAGR.
Furthermore, based on region Asia dominated the global market owing to the growing adoption of Hydraulic Pumps. There has been significant amount of strategic developments accounted in global industry.
The global hydraulic pumps market is primarily segmented by type, application and region.
Based on type, the market is split into:
* Hydraulic Gear Pumps
* Hydraulic Vane Pumps
* Hydraulic Piston Pumps
Based on application, the market is divided into:
* Automotive & Transportation
* Construction & Mining
* Oil & Gas
Moreover, the market is classified across regions and countries as follows:
* North America- U.S., Canada
* Europe- U.K., France, Germany
* Asia-Pacific- China, Japan, India
* Latin America- Brazil, Mexico
* Middle East & Africa- South Africa, Saudi Arabia
Key Market Players:
The key players profiled in the market include:
* Bosch Rexroth
* Linde Hydraulics
* PARKER HANNIFIN
* Kawasaki Precision Machinery
* Yuken Kogyo
These enterprises are focusing on growth strategies, such as new product launches, expansions, acquisitions, and agreements & partnerships to expand their operations across the globe.
Key Benefits of the Report:
* Global, regional, country, product type and application market size and their forecast from 2014-2025
* Identification and detailed analysis on key market dynamics, such as, drivers, restraints, opportunities, and challenges influencing growth of the market
* Detailed analysis on industry outlook with market specific Porter’s Five Forces analysis, PESTLE analysis, and Value Chain, to better understand the market and build expansion strategies
* Identification of key market players and comprehensively analyze their market share and core competencies, detailed financial positions, key products, and unique selling points
* Analysis on key player’s strategic initiatives and competitive developments, such as joint ventures, mergers, sales contracts, and new product launches in the market
* Expert interviews and their insights on market shift, current and future outlook, and factors impacting vendors’ short term and long term strategies
* Detailed insights on emerging regions, product types and applications with qualitative and quantitative information and facts
* Identification of the key patents filed in the field of hydraulic pumps
* Hydraulic pumps manufacturer & Technology Providers
* Traders, Importers, and Exporters
* Raw Material Suppliers and Distributors
* Research and Consulting Firms
* Government and Research Organizations
* Associations and Industry Bodies
The market is derived through extensive use of secondary, primary, in-house research followed by expert validation and third party perspective, such as, analyst reports of investment banks. The secondary research is the primary base of our study wherein we conducted extensive data mining, referring to verified data sources, such as, white papers, government and regulatory published articles, technical journals, trade magazines, and paid data sources.
For forecasting, regional demand & supply factors, recent investments, market dynamics including technical growth scenario, consumer behavior, and end use trends and dynamics, and production capacity were taken into consideration. Different weightages have been assigned to these parameters and quantified their market impacts using the weighted average analysis to derive the market growth rate.
The market estimates and forecasts have been verified through exhaustive primary research with the Key Industry Participants (KIPs), which typically include:
* Raw Material Providers
* Government Body & Associations
* Research Institutes