Hydraulic Gear Pumps Market reaching the valuation of US$ 2.5 Bn at the end of forecast period

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Material handling equipment plays a vital role in lean supply chain management and it is gaining traction owing to the growing outlook of transportation and logistics across the globe. Manufacturers of hydraulic gear pumps thus need to align their product offerings with the changing material handling equipment requisites.

Hydraulic Gear Pumps Market Outlook & Key Findings

• Hydraulic gear pumps market will witness a growth rate of just about 3% in 2021 over that projected for 2020
• In the following decade, these is expected rise in demand for material handling equipment and construction equipment will primarily drive the sales of hydraulic gear pumps
• Increasing demand for low maintenance pump solution from various end users, as hydraulic gear pumps are having relatively high maintenance costs that lead to increasing operating expenses
• Despite high maintenance costs, controllable output and ability to tackle a wide range of viscosities continue to drive preference for hydraulic gear pumps over other pump types
• A majority of market participants are developing long-term agreements and collaborations with OEMs for long-term business opportunities and a competitive advantage in global market.

Hydraulic Gear Pumps Market: Taxonomy

The global hydraulic gear pumps market is segmented in detail to cover every aspect of the market and present complete market intelligence to the reader.

Type

• External Gear Pumps
• Internal Gear Pumps

Operating Pressure

• Upto 15 bar
• 15 – 50 bar
• 50 – 150 bar
• 150 – 250 bar
• 250 – 300 bar
• More than 300 bar

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End Use

• Construction Equipment
• Mining Equipment
• Automotive
• Material Handling Equipment
• Off Highway Vehicles
• Processing Industry
  • Chemicals
  • Petrochemicals
  • Oil & Gas Refineries
  • Others
• Other Industrial Machinery and Equipment

Region

• North America
• Latin America
• Europe
• South Asia & Pacific
• East Asia
• Middle East & Africa

Increasing Adoption in Agriculture and Forestry Equipment

Agriculture sector is also a significant end user shaping up the market for hydraulic gear pumps. The demand is expected to increase for the agricultural applications. A majority of manufacturers in the global hydraulic gear pumps market are following the trends of manufacturing and providing hydraulic gear pumps specifically for agricultural and farming equipment.

Competitive Landscape Analysis

The hydraulic gear pumps market represents a fairly fragmented market structure, owing to the presence of a large number of hydraulic gear pump suppliers across the globe. Eaton Corporation, Parker-Hannifin Corporation, and Bucher Hydraulics GmbH remain some of the market leaders, operating with medium to high level global presence. Top 10 market participants in the hydraulic gear pumps landscape currently account for more than 30% revenue share and prefer to concentrate on strategic collaboration agreements with regional leaders in distribution space. New regional distributorships will enable them to gain a competitive advantage while introducing new offerings to newer regional markets.

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Know More About the Report Coverage

The research report analyzes the total sales of Hydraulic Gear Pumps on the basis of volume (Th. units) and value (US$ Mn). The market is projected on the basis of factors such as Rising Construction Spending, Growth in Material Handling Equipment Industry, Increasing Automotive Production and Fleet Scenario, Swelling Demand for Oil & Gas, Consumption of Chemicals, COVID-19 Crisis Impact and Automation in Agricultural Activities. The scope of the research report includes the sales of Hydraulic Gear Pumps used in Construction Equipment, Mining Equipment, Automotive, Material Handling Equipment, Off Highway Vehicles, Processing Industry and Other Industrial Machinery and Equipment. As per our research scope, we have considered the External Gear Pumps and Internal Gear Pumps.