New York, Aug. 23, 2019 (GLOBE NEWSWIRE) -- Persistence Market Research, in its latest report titled, 'Hydraulic Pumps Market: Global Industry Analysis 2013–2017 and Forecast 2018–2028,' offers key insights and analysis on the global hydraulic pumps market. The research study offers in-depth analysis and key insights for the hydraulic pumps market report for the forecast period (2018–2028).
Based on key analysis, the hydraulic pumps market is anticipated to experience significant demand over the forecast period due to the growing applications of hydraulic systems and hydraulic pumps in major industries worldwide, coupled with growing investments in construction, oil & gas and mining industries. The global hydraulic pumps market is estimated to grow at a CAGR of 5.4% during the forecast period.
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Global Hydraulic Pumps Market Dynamics
The construction industry has been witnessing a significant rise in investments over the last few years, owing to the growing infrastructure projects and urbanization in key developing countries. Growing urban population has also created an upsurge in various end-use industries such as oil & gas, chemicals and petrochemicals to cater to the growing needs of the population.
Growing investments in water and wastewater treatment are also expected to create huge demand for hydraulic pumps over the forecast period. Governments of emerging economies in Africa and Asia, particularly in countries such as India, China and South Africa, are increasing efforts to improve access to drinking water in rural as well as urban areas.
Due to the fact that most of the regions in the world still lack basic amenities and facilities for drinking water, water and wastewater treatment activities are also expected to witness significant growth over the forecast period, driving the demand for hydraulic pumps.
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Global Hydraulic Pumps Market: Segmentation Overview
- Segmentation on the basis of product type: The variable displacement type segment is projected to lead the global hydraulic pumps market by product type in terms of value, while the fixed displacement type hydraulic pumps segment is expected to lead the market share in terms of volume due to high demand and applications of gear pumps. In terms of growth rate, the variable displacement type hydraulic pumps segment is expected to lead the segment with a CAGR of 5.6%.
- Segmentation on the basis of end use: The construction segment is projected to lead the hydraulic pumps market by end use, accounting for maximum demand on a global level. Increasing investments in the construction industry are expected to drive the growth of the segment, while urbanization and industrialization in key regions are also set to impact the growth of the segment in the hydraulic pumps market.
Global Hydraulic Pumps Market: Regional Overview
South Asia is expected to emerge as the most lucrative region and a major consumer of hydraulic pumps by the end of the forecast period. India and ASEAN countries (Thailand and Indonesia) are the main regions creating maximum demand for hydraulic pumps in the South Asia region. The demand for hydraulic pumps in these regions is also primarily driven by rapid urbanization in India.
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China is also projected to dominate the market share in terms of volume and value with the region shaping up as a new manufacturing hub. Europe is expected to remain dominant throughout the forecast period due to the growth of key end-use industries in the region.
Global Hydraulic Pumps Market: Vendor Insights
The hydraulic pumps market is largely fragmented, owing to a large number of local and established players. The report provides details of some of the key players in the global hydraulic pumps market, such as Bosch Rexroth AG, Eaton, Flowserve Corporation, Graco Inc., Actuant Corporation, Mitsubishi Heavy Industries, Danfoss A/S, Linde Hydraulics GmbH & Co. KG, PWG S.r.l., HYDAC, Yuken India, and Tuthill Corporation, among others.
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