Market Synopsis
The Asia-Pacific hydraulic pumps market, fueled by rapid industrialization and infrastructure development. With emerging economies like China and India driving demand, the market experiences significant expansion across diverse sectors, including construction, mining, and agriculture. Technological advancements and increasing investments in automation further enhance market growth, making Asia-Pacific a pivotal hub for hydraulic pump manufacturers and suppliers.
Market Research Future (MRFR) asserts that the hydraulic pumps market can expect to touch USD 13,190.4 Million by 2030. The market’s estimated growth rate can be 4.7% from 2024 to 2030 (considered to be the appraisal period).
Top Drivers and Main Deterrents
With the demand for oil and gas going down following the pandemic, the demand for pumping equipment has also massively weakened among end-users. As the novel coronavirus hit the global economy, the number of development projects in gas, energy and oil segments reduced, which could only mean slower growth for the hydraulic pumps market.
However, hydraulic pumps continue to observe high demand in the industrial set up for applications in material handling, foundries, mixers, conveyors, steel mills, presses, lifts, forklifts, pallet jacks, injection molding machines, slitters, and more. Also, the rampant need for water along with the growing demand for better waste water infrastructure especially in Asia Pacific can be huge opportunities for prominent market firms worldwide. Besides, the accelerated demand for these pumps in the food & beverage sector could also benefit the global market.
The extensive application scope in automobiles, advancing construction industry and the rise in crude oil drilling are also acting in favor of the hydraulic pump market. The continuously rising demand for sustainable equipment and the fact that water supplying utilities are largely dependent on hydraulic pumps has an incredible impact on the market. MRFR has further focused on the major trends in the worldwide market, one of which includes the rising preference for robot operated hydraulic actuator, which consumes the energy supplied by the hydraulic pump that mostly helps the control systems to function on the basis of the situation. Sensing the potential of this trend, companies are increasingly launching advanced actuators with more features in a bid to gain a higher market position.
For instance, in July 2020, Cowan Dynamics launched an expanded E2H series of electro-hydraulic linear valve actuator. This actuator now features emergency shut-down/ESD; remote diagnostics as well as data logging and off/on or modulating service, among others.
Top Contenders
- HANSA-TMP
- Hydac INTERNATIONAL GmbH
- Hengli Hydraulic
- Hydro Leduc
- KYB Corporation
- HAWE Hydraulik SE
- NACHI-FUJIKOSHI CORP
- Casappa S.P.A
- Concentric AB
- DAIKIN INDUSTRIES, Ltd
- Dana limited
- Eaton
- FluiDyne
- Moog Inc
- Mottrol
- PARKER HANNIFIN CORPORATION
- Bosch Rexroth AG
- Bondioli & Pavesi S.p.A
- Bucher Hydraulics GmbH
- Continental hydraulics, inc.
- Liebherr-International AG
- Danfoss Power Solutions
- Kawasaki Heavy Industries Ltd
- linde hydraulics
- Poclain Hydraulics
Segmental Review
Hydraulic pumps industry has been extensively studied by MRFR analysts, and in order to provide the best possible insight have segmented it into type and application.
The main types of hydraulic pumps are axial piston pump, gear pump, and others. The segments on the basis of ‘others’ are vane pumps, screw pumps and radial piston pumps. In 2018, in the lead was the market for gear pumps as these types are quite easy to operate, affordable and require less maintenance.
Application-wise, the hydraulic pump market caters to industrial and mobile. Between these two segments, the highest advancement rate will be observed by the mobile segment during the evaluation period.
Regional Aspect
APAC/Asia Pacific, Europe/EU, North America and MEA/the Middle East and Africa along with the RoW/Rest of the world are the primary markets for hydraulic pumps.
The APAC market can continue being the global leader throughout the conjectured period, mainly since the region attracts massive investments from prominent vendors. The increased spending has also meant a rising number of construction activities in emerging countries like China and India. The APAC market growth is also warranted by the escalating sales of automobiles coupled with the rising use of hydraulic pumps in the mining industry. On top of this, governments across the region impose regulations aiming to bring down the CO2 emission level while various countries are gradually becoming more aware about energy saving, which is leading to further market expansion.
The North American market is thriving at present and can continue to do so throughout the review period, as a result of the increasing uptake of hydraulic pumps in the automotive and manufacturing industries. The flourishing housing industry along with the rapid growth of the agriculture sector in the United States can translate to higher revenue generation in the regional market.
In the EU market, the rampant demand for processed minerals in the industrial sector has resulted in a higher need for advanced hydraulic pumps. These pumps are being increasingly deployed in construction, agriculture and manufacturing industries, thereby benefitting the market. Interestingly, the MEA market for hydraulic pumps can gain steady impetus in the following years, on account of the rising technical innovations in the energy and power industry.
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