The hydraulic pump market is expected to show a CAGR of more than 5.0% during the forecast period 2020-2026. The function of a hydraulic pump is to convert mechanical energy into fluid power energy. Hydraulic pumps provide positive displacement that means the outlet flow is sealed from the inlet flow. Moreover, a little amount of fluid is designed to leak internally for the lubrication and internal cooling purpose. The converted energy is used to perform various functions including lift, lower, open, close, or rotate components in mobile or industrial applications. There are mainly two types of hydraulic pumps that are fixed and variable displacement. In a fixed hydraulic pump, the pump has a set flow rate whereas, in a variable displacement pump, the flow rate and the outlet pressure can be changed as per requirements.
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Growth in the building and construction activities all across the globe, high sales of automotive, rising mining activities, and increasing automation in the industries are some of the major factors which are augmenting the hydraulic pump market. Moreover, the application of the hydraulic pump in the electric vehicle is expected to provide a significant opportunity for the market in the near future.
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However, the downfall in the various application sector of the hydraulic pump market due to the COVID-19 pandemic is one of the major restraints to the market. In 2020, the hydraulic pump market is expected to significantly affect due to COVID-19 as a number of construction equipment manufacturing companies including Case Constructions, Caterpillar, JCB have to shut down their manufacturing units. Moreover, a significant downfall in the economy and building & construction activities along with the mining activities is expected to register in 2020, which will demotivate the consumers to buy new construction equipment.
Market Segmentation
Global Hydraulic Pump Market by Type
Gear Pump
• External Gear Pump
• Internal Gear Pump
Piston Pump
• Axial Piston Pump
• Radial Piston Pump
Screw Pump
• Vane Pump
• Other Pumps (Electro-Hydraulic Pumps)
Global Hydraulic Pump Market by Application
• Construction Equipment
• Industrial Machinery
• Oil & Gas
• Automotive
• Other (Mining)
Regional Analysis
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• Rest of Asia-Pacific
Rest of the World
Company Profiles
• Bailey International, LLC
• Bosch Rexroth AG
• Bucher Hydraulics GmbH
• Daikin Industries Ltd.
• Danfoss A/S
• Dynamatic Technologies Ltd.
• Eaton Corporation Plc.
• Enerpac Tool Group Corp.
• General Pump Co.
• HYDAC Verwaltung GmbH
• HYDROMA, Ltd.
• Kawasaki Heavy Industries Ltd.
• KRAL-USA, Inc.
• Linde Hydraulics GmbH & Co. KG
• Nittoh Zohki Co., Ltd.
• Panagon Systems, Inc.
• Parker Hannifin Corp.
• Suntec Industries France SAS
• TOKYO KEIKI Inc.
• Xylem Inc.
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