Courtesy of Pixabay
function-graphic-2137730960720.jpg

Global Hydraulic Pump Market Expected To Reach $10.4 Billion by 2022

March 25, 2017
The global hydraulic pump market is expected to garner $10.4 billion by 2022, growing at a compound annual growth rate of 4.7%.

Allied Market Research published a new report showing that the global hydraulic pump market is expected to garner $10.4 billion by 2022, growing at a compound annual growth rate (CAGR) of 4.7% during 2016 to 2022. The report, “Global Hydraulic Pump Market: Opportunities and Forecasts, 2015–2022,” is 120 pages long, and covers the recent history of the market.

In year 2015, the Asia-Pacific region accounted for the largest market share of 36.7%, followed by North America. The Asia-Pacific region was estimated to be the largest market in terms of revenue owing to higher usage of hydraulic pumps in the manufacturing industry. The region is expected to grow at the highest CAGR of 5.5% during the forecast period from increased use of hydraulic pumps in manufacturing and construction equipment. Growth in developing countries including China and India would primarily be supplemented by increasing usage of hydraulic pumps in manufacturing industry, construction activities, and automobiles.

The report classifies hydraulic pump types as vane, piston, and gear pumps. Among all product types, gear pumps dominated the market in 2015, accounting for over 50% of the overall market revenue. This is likely due to their compatibility with various fluid types and lower cost than other product types. But an update shows that piston pumps are expected to be the fastest growing product category, due to high efficiency, reliability, and high-pressure capabilities.

While the mobile-equipment segment occupied a major share of the overall market in 2015, the industrial segment is anticipated to grow at a faster rate during 2016 to 2022. This is likely due to the increasing application of hydraulic pumps in manufacturing in developing economies.

Among key findings of this study:

  • In the year 2015, Asia-Pacific was the highest revenue-generating region for hydraulic pumps, followed by North America
  • Growth in LAMEA is likely to be supplemented by increasing usage of hydraulic pumps in mining and oil extraction activities
  • Gear pumps are the most commonly used hydraulic pumps worldwide
  • Mobile application was the major revenue-generating application segment in 2015
  • The industrial application segment would grow at a faster CAGR of 5.5% during 2016-2022

For details about the market study, including prices, visit http://bit.ly/HP317HydPump.

Continue Reading

May 10, 2017
Author Brendan Casey lays out his hydraulics know-how that he acquired over 27 years in a simple handbook made for people that want to improve their skills in troubleshooting ...
Dec. 12, 2024
The incoming Trump administration is focused on implementing tariffs on goods imported into the U.S. which could impact the recovery projected for fluid power and its customer...

Sponsored Recommendations

May 15, 2024
Production equipment is expensive and needs to be protected against input abnormalities such as voltage, current, frequency, and phase to stay online and in operation for the ...
March 13, 2024
With experienced Product Engineers and Customer Service personnel, Altech provides solutions to your most pressing application challenges. All with one thought in mind - to ensure...
March 13, 2024
Introducing the All-In-One DC-UPS, a versatile solution combining multiple functionalities in a single device. Serving as a power supply, battery charger, battery care module,...
March 13, 2024
With experienced Product Engineers and Customer Service personnel, Altech provides solutions to your most pressing application challenges. All with one thought in mind - to ensure...