The growth of worldwide construction, mining, and automotive industries and increasing use of hydraulic pumps in wastewater treatment plants is driving the growth at a CAGR of 4.7% during the forecast period 2023 to 2030

The Global Hydraulic Pumps Market is estimated to register a CAGR of 4.7% during the forecast period of 2023 to 2030.

MRFR recognizes the following companies as the key players in the Global hydraulic pumps market— Bosch Roxroth, Eaton, Parker Hannifin, Bucher Hydraulics, Hydac, Bondoli& Pavesi SpA, Continental Hydraulics, Liebherr-International AG, Danfoss Power Solutions, Kawasaki Heavy Industries Ltd., Lind Hydraulics, Poclain Hydraulics GmbH and others.

Hydraulic Pumps Market Highlights

The Global hydraulic pumps market is accounted for to register a CAGR of 4.7% during the forecast period and is estimated to reach USD 13,190.4 Million by 2030.

The key factor impacting the growth of the hydraulic pump market is the growth of the application industries. Hydraulic pumps have a huge application in the construction, mining, and automotive industries. The growth of worldwide construction, mining, and automotive industries is driving the demand for hydraulic pumps. These industries heavily rely on hydraulic systems for various applications, and hydraulic pumps are a critical component of these systems. 

The construction industry, in particular, plays a significant role in driving the demand for hydraulic pumps. With increasing construction activities, especially in emerging economies, there is a higher demand for hydraulic pumps. Construction machinery such as excavators, bulldozers, cranes, and loaders require hydraulic pumps to power their hydraulic systems, enabling them to perform heavy lifting, digging, and other tasks efficiently.

In addition, the mining industry plays a vital role in the economic growth and development of a country. Numerous reserves are waiting to be discovered, but there are insufficient tools and equipment to complete the task properly. Some of the tools employed are ineffective. Hydraulic mining, on the other hand, is not a new concept. Hydraulic jacks, for example, have played an important role in modern underground mining. 

Similarly, the mining rotary breaker has shown to be quite helpful in breaking up large chunks of earth that could otherwise obstruct underground mining. In both on-surface and underground mining processes, such pieces of equipment break down impediments to enable easier access to the working area. Thus, the advancing construction and mining industries will result into an increase in demand for hydraulic pumps over the forecast period.

Moreover, surging investment in wastewater treatment plants and services will drive the growth of the market. For instance, in July 2021, Veolia enhanced the development of its water business in Japan by signing off the operation of the Miyagi Water and Wastewater Concession Project. This concession contract is for 20 years of O&M and renewal works of 8 treatment plants, with a total treatment capacity of over 900,000 m3 per day. 

Similarly, in 2020, the European Investment Bank invested about EUR 4 billion (~USD 4334.30 million) in the water and wastewater management sector to provide safe drinking water to 29.6 billion people. This is expected to increase the water and wastewater treatment capacities in the region. This, in turn, fuels the demand for the hydraulic pump to treat the wastewater, which as a result drives the growth of the market in forthcoming years across the globe.

Segment Analysis

The global hydraulic pumps market has been segmented based on type, application and control type.

Based on type, the market is categorized into gear pump, vane pump, and piston pump. Among these, gear pump is projected to dominate the Global hydraulic pumps market revenue through the projected period as estimated by MRFR analysts. Hydraulic gear pumps have long been utilized in various applications due to their simple design, adaptability, and ease of operation, as well as their diversity. Hydraulic gear pumps are an excellent choice for chemical and industrial processes as of their characteristics. 

Furthermore, when compared to other pump types available on the market, the price of a hydraulic gear pump remains within a reasonable range. Hydraulic gear pumps are directly tied to rising demand for industrial equipment from a wide range of industries. Throughout the projection period, the market for hydraulic gear pumps will be fueled by rising need for user-friendly pump solutions coupled with proper fitment.

Based on application, the global hydraulic pumps market has been segmented into construction, automotive and others. The construction segment is projected to dominate the Global hydraulic pump market revenue through the projected period as estimated by MRFR analysts. In recent years, the world has been urbanizing rapidly. More than half of the world’s population now live in urban areas. Urbanization applies to a range of disciplines, including urban planning, architecture, geography, sociology, education, economics, statistics, and public health. 

It can be seen as a specific condition at a set time, or as an increase in that condition over time. It creates enormous social, economic, and environmental changes, which provide an opportunity for sustainability with the "potential to use resources more efficiently, to create more sustainable land use and to protect the biodiversity of natural ecosystems. Hence, with the rise in urbanization, construction in the urban area increases to accommodate the population and for the increasing number of industries to cater to the population needs.

Based on control type, the global hydraulic pumps market has been segmented into manual control and selectable joystick control (SJC). Among these the selectable joystick control (SJC) segment is projected to dominate the Global hydraulic pump market revenue through the projected period as estimated by MRFR analysts. In recent years, selectable joystick controls have gained popularity. Operators like the reduced effort, low fatigue, and adjustable settings this type of system offers. 

For jobs that involve multiple operators, many manufacturers’ joystick control patterns can alternate between the ISO and H-Pattern to match a particular operator’s preference. This plays a key role in maximizing comfort, efficiency, and productivity. Thus, selectable joystick controls in hydraulic pumps will offer smooth and efficient working for operators and professionals, thereby creating a lucrative growth opportunity in the market during forthcoming period.

Regional Analysis

By region, the global hydraulic pumps market, has been divided into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. Among these, the Asia Pacific emerged as the leading and the fastest-growing region. The growth of Asia-Pacific hydraulic market owes to high growing construction industry. With the increase in population and urbanization, industrialization is taking fast pace. Hydraulic pumps are used in various construction equipment which are cost effective and saves a lot of time as compared to traditional equipment. They help reduce fuel consumption, hence reducing CO2 emissions. 

Additionally, governments are taking initiatives for both construction and CO2 emission reduction. For instance, as of March 2022, the government plans to spend Rs. 10,565 crore (USD 1.38 billion) on the Trans-Arunachal Highway and Kaladan Multi-Model Transport Project, as well as other roads development projects such as capital connectivity, district connectivity, connectivity to the international border, and improvement and strengthening of roads in the region of Sikkim. Moreover, in September 2021, the Ministry of Road Transport and Highways constructed national highways extending 3,824 kms compared with 3,335 kms in August 2021. Thus, the advancing construction industry is driving the demand for hydraulic pumps in the region.

The hydraulic pumps market in North America has experienced steady growth over the years, driven by the growing aviation industry in the region. Aircraft hydraulic pumps are used to move non-compressible fluid through an aircraft hydraulic system. This power is commonly employed to drive wheel brakes, retractable landing gear, and some constant-speed propellers on tiny airplanes. With its application in aviation industry, hydraulic pump will grow with the growing aircrafts and air traffic in the North America region.

Europe is expected to witness growth in the hydraulic pump market owing to rising wastewater treatment in the region. Since urban wastewater may contain bacteria, viruses, nitrogen, phosphorus, and other contaminants that might harm the environment and human health, it must be properly handled. The application of hydraulic pumps in wastewater treatment plants increases its demand in the Europe region and has potential to grow in the forthcoming years. Rising industrialization and strict laws by government bodies to restrict carbon emissions will fuel the growth of the Asia pacific hydraulic pumps market.

Key Findings of the Study

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  The Global hydraulic pumps market is expected to reach USD 13,190.4 Million by 2030, at a CAGR of 4.7% during the forecast period.

  
  


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  The Asia-Pacific region accounted for the fastest-growing global market, owing to the presence of emerging nations with growing end use applications.

  
  


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  Based on type, the gear pumps market segment was attributed to holding the largest market in 2022.

  
  


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  Based on Application, the construction segment was attributed to holding the largest market in 2022.

  
  


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  Based on control type, the SJC control segment was attributed to holding the largest market in 2022.

  
  


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  Bosch Roxroth, Eaton, Parker Hannifin, Bucher Hydraulics, Hydac, Bondoli& Pavesi SpA, are some of the key market players.