Hydraulic Gear Pump Market

• Growing water treatment activities are expected to drive market growth

Market CAGR for hydraulic gear pump is being driven by the growing water treatment activities. Hydraulic pumps are critical in wastewater treatment plants because they are used to pump raw sewage, transfer sludge, and circulate wastewater throughout the treatment process. The increased investment in new water treatment plants will drive the hydraulic pump sector forward. 

In November 2022, Newmont announced a $160 million investment in a water treatment plant at Porcupine Mine that will collect, treat, and return impacted water. At the Mena Desalination Projects Forum 2022 in Abu Dhabi in March 2022, Saudi Arabia announced 60 water projects for water desalination and wastewater treatment service for SR35 billion ($9.33 billion).

Hydraulic pumps play vital roles in a wide range of aerospace and defence applications, including airplanes, helicopters, missiles, and armoured vehicles. These pumps supply the hydraulic power required to operate landing gears, control surfaces, braking systems, armament systems, and other critical operations in aerospace and defence equipment. 

Increased aircraft manufacturing fuels the expansion of the hydraulic pump industry. Airbus said in January 2020 that it would construct 63 A320 family aircraft each month in 2021 and invest a further $40 million in the project, bringing the total commitment to more than $1 billion.

Moreover, hydraulic gear pumps are widely used in agricultural machinery such as tractors, harvesters, and sprayers to power the hydraulic systems that regulate the equipment's movement. As the demand for food increases, so does the demand for agricultural machinery. This is increasing demand for hydraulic gear pumps, which are an essential component of these devices.

For example, according to a United Nations report, the global population is predicted to exceed 9.7 billion by 2050, driving need for food production. To meet this need, the agricultural sector is projected to invest in more sophisticated technology, which will necessitate the use of hydraulic gear pumps.

Furthermore, because of their great efficiency, compact size, and low noise levels, hydraulic gear pumps are chosen over other types of pumps. This makes them excellent for use in agricultural machinery where space is restricted and noise levels must be kept low in order to not disturb livestock.

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American Hydraulic Gear Pump Market area will dominate this market, because of the growing need for hydraulic gear pumps in industries such as construction, mining, and material handling equipment.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure2: Hydraulic Gear Pump Market Share By Region 2022 (USD Billion)

Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

Europe Hydraulic Gear Pump Market accounts for the second-largest market share due to rising utilization of hydraulic gear pumps in the region.  Further, the German Hydraulic Gear Pump Market held the largest market share, and the UK Hydraulic Gear Pump Market was the fastest growing market in the European region

The Asia-Pacific Hydraulic Gear Pump Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to the existence of various construction equipment, material handling equipment, and construction equipment manufacturing plants. Moreover, China’s Hydraulic Gear Pump Market held the largest market share, and the Indian Hydraulic Gear Pump Market was the fastest growing market in the Asia-Pacific region.

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Hydraulic Gear Pump Market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. 

To expand and survive in a more competitive and rising market climate, Hydraulic Gear pump industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Hydraulic Gear Pump industry to benefit clients and increase the market sector. In recent years, the Hydraulic Gear Pump industry has offered some of the most significant advantages to medicine. 

Major players in the Hydraulic Gear Pump Market, including MANN+HUMMEL (Germany), NGK Insulators, LTD. (Japan), Denso (Japan), Donaldson Company Inc. (US), BASF (Germany), Continental AG (Germany) and others, are attempting to increase market demand by investing in research and development operations.

Motion, originally known as Motion Industries, Inc., is an American distributor of industrial parts and industrial technology based in Birmingham, Alabama. Since 1972, it has been a completely owned subsidiary of Genuine Parts Company. 

In June 2022, Motion Industries Inc. has launched Mi Fluid Power Solutions, its fluid power business brand. The company will concentrate on hydraulics, pneumatics, lubrication, filtration, process pumps, precision industrial machining, and factory automation solutions.

Daikin Industries, Ltd. is an Osaka-based Japanese multinational firm. Daikin is the world's largest maker of air conditioners. In March 2021, Daikin Industries, Ltd. purchased Duplomatic MS S.p.A, an Italian maker of hydraulic equipment. 

The acquisition contributes to the integration of hydraulic equipments in the field of industrial equipment in Europe by partnering with the business environmental technologies to reduce environmental burden, thereby contributing to a sustainable society.