Mobile Hydraulic Pump Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022-2027)

The Global Mobile Hydraulic Pump Market registered a CAGR of 4.5% over the forecast period 2021 - 2027. The infrastructural developments, automation across industries, such as manufacturing and automotive, and an increase in construction activities globally would be driving the growth prospects for hydraulic pumps until the forecast period.

Key Highlights

• Mobile Hydraulic Pumps have become widespread across industries that convert mechanical power into hydraulic energy. These pumps are used on excavators, cranes, tractors, loaders, vacuum trucks, forestry equipment, graders, dump trucks, mining machinery, and other applications.
• The increasing number of innovations and the demands of the markets for high-performance, efficient high-pressure pumps, and water hydraulics systems means that a high degree of specialist engineering knowledge and competence is required. As a result, continuous development of pumps and their integration into production processes in various areas of application are necessary.
• However, the prices of sophisticated pumps that meet regulatory requirements are higher than those of standard pumps.
• Moreover, the need for mobile hydraulic pump is driven by increase in worldwide construction activities, rising automobile sales, and increased use in the mining industry. Furthermore, government regulations focusing toward reduction of CO2 emission and increasing public awareness regarding energy conservation. Such factors are expected to provide lucrative growth in the mobile hydraulic pump market during the forecast period.

Key Market Trends

Construction Industry to Dominate the Market

• Mobile Hydraulic Pumps, particularly gear pumps are largely used in the construction industry. Extensive application of construction equipment in operations, such as excavation, earth-moving, and lifting and material handling is expected to drive the market for construction equipment.
• Manufacturers are expanding their investments in machine tools in both developed and developing countries in order to improve their production processes and systems. The building industry and hydraulic systems will benefit from the maturation of both of these areas in the coming years.
• In both developed, as well as developing countries, manufacturers are increasing their investments in machine tools to enhance their production processes and systems. The maturity of both of these markets will help the construction sector and hydraulic systems throughout the next few years.
• The market is being propelled forward by an increase in construction activity as well as rising construction spending in various countries.

Asia-Pacific segment would be the fastest growing market

• Rapid development and urbanization in important developing nations such as China and India are driving the expansion of the hydraulic pumps industry.
• Because of the expanding urban population, many countries are seeing fast industrialization. As a result, there has been an increase in consumer demands and products, affecting the expansion of end-use sectors.
• Owing to the presence of the leading consumers of hydraulic gear pumps due to the presence of several manufacturing facilities for construction equipment, material handling equipment, and construction equipment, including key players such as Mitsubishi, Hangcha Group, and Komatsu Ltd. Countries in the Asia-Pacific region held the major share.
• Due to the impact of COVID-19, the bulk of end-use sector companies are seeking to relocate their production facilities to India and ASEAN countries as an alternative to China. Supporting government actions these governments may draw global players to these countries, which will have a direct impact on the region's opportunities.

Competitive Landscape

The Global Mobile Hydraulic Pump Market is quite competitive with the presence of diverse firms of different sizes. This market is anticipated to encounter a number of partnerships, mergers, and acquisitions as organizations continue to invest strategically in offsetting the present slowdowns that they are experiencing. The market comprises key solutions and service providers, Bosch Rexroth, Linde Hydraulics, Eaton Corporation, Kawasaki Precision Machinery, and Bondioli & Pavesi Inc.

• In April 2022, Linde Hydraulics invested EUR50 million across its global production network. The money would be used for the up-gradation of its facilities in Germany and at other international locations.
• In May 2021, Bosch Rexroth launched its fast and power-dense Hagglunds Atom hydraulic motor. The Hagglunds Atom hydraulic motor would be supplying more revolutions per minute, along with more power than motors of similar size. It would be ideal for mobile, marine, and recycling applications.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

This product will be delivered within 2 business days.