Hydraulic Pumps Market Size To Grow By USD 3.53 Billion | By End-user (Construction, Mining, And Material Handling, Oil And Gas, Agriculture, And Others) And Geography

NEW YORK, April 1, 2022 /PRNewswire/ — The Hydraulic Pumps Market Share is expected to increase by USD 3.53 billion from 2021 to 2026, at an accelerated CAGR of 5.59%- according to the recent market study by Technavio. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenarios, future market trends, market size & estimations, and major investment pockets.

Hydraulic Pumps Market Facts at a Glance-

• Total Pages: 120

• Companies: 10+ – Including Bailey International LLC, Bosch Rexroth AG, Bucher Hydraulics GmbH, CASAPPA SpA, Caterpillar Inc., Dalian engineering, Danfoss AS, Dynamatic Technologies Ltd., Eaton Corp. Plc, Enerpac Tool Group Corp., HYDAC Verwaltung GmbH, Kawasaki Heavy Industries Ltd., Linde Hydraulics GmbH and Co. KG, Mitsubishi Heavy Industries Ltd., Oilgear, Parker Hannifin Corp., Permco Inc., Salami SpA, Tuthill Corp., and Daikin Industries Ltd. among others

• Coverage: Key drivers, trends, and challenges; Product insights & news; Value chain analysis; Parent market analysis; Vendor landscape; COVID impact & recovery analysis

• Segments: End-user (construction, mining, and material handling, oil and gas, agriculture, and others)

• Geographies: APAC (China and Japan), North America (US), Europe (Germany and UK), Middle East and Africa, and South America

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Vendor Insights-

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The hydraulic pumps market is fragmented and the vendors are deploying growth strategies such as increasing their market presence through mergers and acquisitions, and expansion activities to compete in the market.

• Bailey International LLC- The company offers hydraulic pumps such as chief two stage pump 11 gpm and chief two stage pump 16 gpm. Moreover, it is a privately held company headquartered in the US. It is a global company, with limited information regarding its financials and limited information regarding its employee strength is available. Its revenue from the global hydraulic pumps market contributes to its overall revenues along with its other offerings, but it is not a key revenue stream for the company.

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Regional Market Outlook

55% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for hydraulic pumps in APAC. Market growth in this region will be faster than the growth of the market in the European, North American, and South American regions.

The rapid urbanization and the need to improve connectivity between different regions will facilitate the hydraulic pumps market growth in APAC over the forecast period.

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Latest Drivers & Trends of the Market-

Hydraulic pumps are extensively used in the oil and gas sector. They are used as an alternative to gas lift systems and electric submersible pumps (ESPs). Hydraulic pumps are also favored and used where high flow rates are required, such as in wells having a heavy concentration of sand or other solids from frac operations, as they can handle high gas volumes. The global oil and gas industry is presently undergoing significant expansion and is a primary driver for the growth of the global hydraulic pumps market. There are a lot of factors leading to the expansion of the global oil and gas industry. The demand for oil and natural gas is increasing steadily due to improvements in global economic growth. The global consumption of natural gas exhibited a significant rise due to the increasing adoption of natural gas as a fuel in the last decade. Also, with the rise in fuel consumption from developing economies such as China and India, the demand for natural gas is expected to grow significantly during the forecast period. The rise in investments in E and P activities will increase the demand for hydraulic pumps. These factors will thus drive the growth of the global hydraulic pumps market during the forecast period.

Hydraulic fluids, including lubricants, perform various functions, including protection against corrosion and wear, transferring contaminants to filters, and dissipating heat from hot zones. However, under certain conditions, these lubricants become flammable. Furthermore, there is a risk of small leaks when lubricants are pressurized in hydraulic lines. The hydraulic system becomes more susceptible to fire due to these leaks. One of the important parameters to consider in selecting the appropriate hydraulic fluid is the operating temperature, which can determine the degree of fire protection required. Some of the industrial applications of FRHFs include mining, die-casting, offshore applications, power generation, iron, and steel industry, among others. They do not readily ignite when sprayed under pressure. Besides providing lubrication and being non-corrosive, glycol fluids are more cost-effective than other hydraulic fluids. Utilizing FRHFs can not only ensure the safe operation of the hydraulic pumps but may even reduce the need for a fire-suppression system. Thus, end-users can prevent and minimize the risks of any fire-related losses by replacing the flammable hydraulic oils with fire-resistant fluids in the hydraulic systems. Such trends can have a positive impact on the growth of the market during the forecast period.

Find additional information about various other market Drivers & Trends mentioned in our FREE sample report.

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Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Five Forces Analysis

5 Market Segmentation by End-user

6 Customer Landscape

7 Geographic Landscape

8 Drivers, Challenges, and Trends

9 Vendor Landscape

10 Vendor Analysis

11 Appendix

• In manufacturing industry: Market dynamics in some major processes and discrete industries are changing drastically, and manufacturers are gradually feeling the brunt of excessive demand fluctuations. The fluctuating prices of oil and gas and metals in the global market and the shortage of a skilled workforce worldwide have directly affected the profitability of manufacturing companies. A sudden and unexpected shift in market dynamics can drastically impact manufacturing processes and investments in capital goods.

• Slowdown in the automotive industry: High motorization rates in North America and Europe, the increase in tariffs on imported vehicles in the US and China, and the global economic slowdown are likely to reduce vehicle sales in the coming years. Anticipating a decline in vehicle sales, several vehicle manufacturers are halting their vehicle production. For instance, in March 2019, Ford announced the shutdown of its three vehicle-manufacturing sites in Russia. Similarly, in August 2019, Mahindra and Mahindra Ltd. stopped vehicle production at its manufacturing units in India for 8-14 days. During the same month, Maruti Suzuki announced that it had cut its vehicle production for the sixth consecutive month in 2019. In August 2019, Honda announced a halt in car production at its Argentina-based manufacturing plants. Such a slowdown in the automotive industry is expected to hamper the growth of the market during the forecast period.

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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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