With the expansion of the construction sector, steady growth in the number of cars sold, and increased use by operators in the mining sector, the hydraulic gear pump market is still expanding strongly. According to a recent Future Market Insights (FMI) study, the global hydraulic gear pumps market will continue to grow steadily and will be worth US$2.54 billion by the end of the forecast period (2022 to 2030).

An important trend in the market for hydraulic gear pumps will be the increased focus on updating current pump models to increase their energy efficiency quotient. According to the FMI study, high manufacturing costs continue to be a major obstacle preventing the market for hydraulic gear pumps from expanding quickly. But because of the COVID-19 crisis, a number of production facilities have been shut down, and there is a labour shortage. The lack of raw materials further complicates this situation.

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List of Key Players Covered in Hydraulic Gear Pumps Market are:

  • Eaton Corporation Plc
  • PARKER HANNIFIN CORP
  • Bucher Hydraulics Gmbh
  • KYB Corporation
  • CASAPPA S.p.A.
  • Bosch Rexroth AG
  • Dynamatic Technologies Ltd.
  • Linde Hydraulics GmbH Co. KG
  • Roper Pump Company
  • Kawasaki Heavy Industries, Ltd.
  • Concentric AB.
  • Viking Pump Inc.

Key Takeaways :

External gear pumps will be the top selling category through 2030

1.     Sales remain concentrated in East Asia and Europe

2.     A third of total sales will be accounted by hydraulic gear pumps with an operating pressure of 150 - 250 towards the end of 2030

3.     End users are inclined towards specialist distributors that provide engineering expertise, aftersales services, and end-to-end solutions to meet specific demands of customers

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.