Market Research Future (MRFR) in the new report on the Global Hydraulic gear pump Market 2020, states determiners and restrains on the market. A detailed study on the influence of COVID 19 outbreak on the hydraulic gear pump is elaborated in the report. As per MRFR data, the global market is anticipated to thrive at ~6% across the analysis period.
The global hydraulic gear pump market is growing rapidly. The market growth attributes to the burgeoning automotive industry, creating a vast demand for the pumps. Besides, increasing automotive production, alongside the stringent emission norms, and the adoption of advanced technologies, drive market growth. Augmenting demand for environment-friendly propulsion systems creates significant market demand.
Additionally, advantages of hydraulic gear pumps, such as improved engine fuel efficiency, accurate temperature stabilization, and reduced emissions & noise compared to mechanical pumps, define the growing landscape of the market. Also, construction equipment for operations such as excavation, earthmoving, and material handling increases the demand for hydraulic gear pumps. Rising productions of cars, trucks, and vehicles with power generating mechanism increase the market size.
Global Hydraulic Gear Pump Market – Competitive Analysis
Highly competitive, the hydraulic gear pump market appears fragmented due to the presence of several well-established players. To gain a larger competitive share, industry players initiate strategic approaches such as mergers & acquisitions, innovation, brand reinforcement, and expansion. Due to the expected innovations and improvements in product, service, and product innovations, the market will soon witness an intensified competition.
Major Players:
Players leading the global hydraulic gear pump market include Bosch Rexroth AG (Germany), Eaton Corporation Plc (Republic of Ireland), Linde Hydraulics GmbH & Co. Kg (Germany), Bucher Hydraulics GmbH (Switzerland), Kawasaki Heavy Industries, Ltd(Japan), Parker Hannifin Corp (US), HYDAC(Germany), Dynamatic Technologies Limited (India), Sapricon Hydraulic Industries(India), Marzocchi Pompe S.p.A. (Italy), Gemma Automotive (Turkey), and Daikin Industries, Ltd. (Japan), among others.
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Global Hydraulic Gear Pump Market – Segments
- By Product Type : Internal Gear Pump and External Gear Pump.
- By Operating Pressure: < 100 Bar, 100–300 Bar and Above 300 Bar.
- By Vehicle Type : Light Duty Vehicle (LDV), Heavy Duty Vehicles (HDV), and Material Handling Vehicles.
- By Application : Transmission/Clutches, Electrohydraulic Powered Steering, Hybrid Propulsion, Lifting Application, and others.
- By Distribution Channel: OEM and Aftermarket.
- By Region : North America, Europe, APAC, and the Rest-of-the-World.
Global Hydraulic Gear Pump Market – Regional Analysis
North America leads the global hydraulic gear pump market. The largest market share attributes to the spurring demand from the automotive sector in the region. Besides, the growing agricultural and construction activities in the region increase the hydraulic gear pump market size. Moreover, increased construction spending across various countries fuels market sales. The North American hydraulic gear pump market is projected to retain its dominance throughout the estimated period.
The Asia Pacific region stands second in the global hydraulic gear pump market. Market growth is driven by the burgeoning automotive industry and the availability of innovative technologies. Additionally, the presence of several notable players and increased production capacity in terms of volume and new facilities boost the regional market growth.
Industry/ Innovations/ Related News
January 22, 2020 ---- Danfoss Power Solutions India Private Limited, announced the acquisition of Eaton Hydraulics India, a power management company. The acquisition would provide Danfoss greater in-roads into the US market. At the same time, the Danish company is already a major player in the European markets, which would help Danfoss expand its Indian operations and globally.
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TABLE OF CONTENTS:
- Market Introduction
- Research Methodology
- Market Dynamics
- Executive Summary
- Market Factor Analysis
- Hydraulic gear pump Market, By Segments
- Competitive Analysis
More…
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APAC Hydraulic Gear Pump Market to Register Highest Growth in FutureHydraulic gear pumps provide more accurate temperature stabilization, improved fuel economy, and reduced noise as compared to conventional mechanical pumps.
They are mainly used in civil engineering and construction, agriculture, industrial vehicles, and other equipment and systems.
Market Research Future (MRFR) has published a research report on the global hydraulic gear pumps market and has predicted a CAGR of 4% over the forecast period of 2018 to 2023.The demand for construction equipment is rising at a torrid pace against the backdrop of the expanding construction industry.
Additionally, reconstruction of existing building structures has further resulted in the expansion of the construction industry and in turn, expansion of the hydraulic gear pump market.
The growing emphasis on infrastructural development, especially in developing countries, has further broadened the scope of the market.The increasing level of automation and the use of machinery in the agriculture sector has set a positive tone for the growth of the market.
This too remains a hindrance to the growth of the market.SegmentationThe global hydraulic gear pump market has been segmented based on vehicle type, product type, operating pressure, application, and distribution channel.By vehicle type, the hydraulic gear pump market has been segmented into light-duty vehicles, heavy duty vehicles, and material handling vehicles.By product type, the hydraulic gear pump market has been segmented into external gear pump and internal gear pump.By operating pressure, the hydraulic gear pump market has been segmented into less than 100 Bar, 100–300 Bar, and above 300 Bar.By application, the hydraulic gear pump market has been segmented into hybrid propulsion, transmission/clutches, electrohydraulic powered steering, and lifting application.By distribution channel, the hydraulic gear pump market has been segmented into original equipment manufacturer (OEM) and aftermarket.Regional AnalysisBy region, the hydraulic gear pump market has been segmented into North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).The global market was led by North America in 2017, and its dominance is expected to continue a similar growth pattern throughout the forecast period.
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