Hydraulic Pumps Market Size and Forecasts, Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Type and Application

The hydraulic pumps market size is expected to reach US$ 14.2 billion by 2030 from 10.2 billion in 2022, at an estimated CAGR of 4.2% from 2022 to 2030.

The US, Canada, and Mexico are among the major economies in North America. This region accounts for a significant share of the global hydraulic pumps market owing to greater investment in infrastructural development and wastewater treatment plants. For instance, according to the US’s Water Services Department Data of February 2023, Cave Creek Water Reclamation Plant Rehabilitation received an investment of US$ 213 million for restoring and upgrading. This investment is 70% of the total value planned to be allocated in 2024. The Water Services and Finance Departments in the US prepared five-year financial plans for maintaining and providing water and wastewater treatment services to the customers, which increases the demand for products in hydraulic pumps market among water and wastewater facilities. Products in hydraulic pumps market are essential components in the wastewater treatment plants. The pumps help ensure the movement and continuous flow of water throughout the treatment cycle.

Products in hydraulic pumps market are used in numerous equipment and machines, such as bulldozers, excavators, drills, cranes, and others, which are highly used in the construction industry. The hydraulic pumps enhance this machinery and make it capable of lifting heavy loads and moving materials. The growing investment in the construction industry is creating opportunities in the hydraulic pumps market in Canada and Mexico. For instance, according to the Government of Canada report of September 2023, the country is committed to continuously investing over US$ 133.64 billion till 2028. The investment plan also includes the development of public transit, broadband networks, trading ports, natural spaces, energy systems, and community services. The increasing adoption of products in hydraulic pumps market in the construction, power generation, automotive, and other industries is driving the market in North America.

The hydraulic pumps market in the US is projected to grow during the forecast period due to the growing spending on infrastructure development. The construction industry in the country plays a significant role in the US economy. The country has a presence in diverse industries and is one of the world leaders in infrastructure, which further drives the adoption of products in hydraulic pumps market. The increasing spending on the development of bridges and tunnels is driving the hydraulic pumps market in the US. For instance, according to the White House report of May 2023, the government of San Francisco, California, invested US$ 400 million in the retrofitting of the Golden Gate Bridge. The government is planning to retrofit, replace, and install critical structural elements of the bridge to increase resiliency against earthquakes. Retrofitting the bridge requires appropriate construction machinery capable of lifting and moving heavy materials, which will fuel the demand for products in hydraulic pumps market.

Based on application, the Hydraulic Pumps market is segmented into construction, commercial vehicles, agriculture vehicles, aircraft, and others. Hydraulic pumps play a crucial role in modern construction, powering a wide range of equipment and tools. Products in hydraulic pumps market are most frequently used on construction sites in large hydraulic machinery and various off-highway pieces of equipment such as diggers, excavators, and dumpers. Other environments, like factories and offshore work zones, require hydraulic systems to move large equipment, cut and bend material, and power heavy machines. Various players across the globe offer hydraulic pumps for construction applications. For example, Kawasaki provides a K3VL series swash plate axial piston pump designed for a wide range of construction and off-highway applications that demand a medium to high-pressure variable displacement pump. Hydraulic pumps are used in commercial vehicles for supercharging, air conditioning, power steering, and automatic transmission pumps. Several market players provide hydraulic pumps for commercial vehicles. For example, Bosch Rexroth provides Bosch Rexroth A18VO series 11, a high-pressure pump for applications in commercial vehicles. A18VO is a variable pump with axial tapered piston transmission with a bent axis design for open circuit hydrostatic drives. The pump was specifically built for demanding applications and convenient controls in commercial vehicle working equipment, such as huge HGV loading cranes and superstructures. The flow is proportional to the displacement and the drive speed. The flow can be altered steplessly by altering the bent axis.

Based on type, the Hydraulic Pumps market is segmented into gear pump, piston pump, and vane pump. Gear pumps use interlocking cogs or gears to repeatedly enclose a specific volume, physically moving the fluid through a cyclic pumping motion. Gear pumps are divided into internal and external gear pumps. The gear pump provides a steady, pulse-free flow proportionate to the gears' rotating speed. High-viscosity fluids, including oil, paints, resins, and foodstuffs, are frequently pumped using gear pumps. When precise dosage or high-pressure output is needed, these pumps are the best option. Gear pumps are also frequently chosen in scenarios where the supply is irregular, as their output is not significantly impacted by pressure. Several players across the globe have launched gear pumps. For instance, in 2020, Rexpower Hydraulic & Pneumatic Co., Ltd. launched the TOP3 internal gear pump; the product has applications in machinery as transportation of hydraulic and lubricating oil or the function of cooling and lubrication. Thus, such product launches across the globe propel the growth of the hydraulic pumps market for the gear pump segment. Viscose medium and media containing solid particles can be pumped using piston pumps, along with liquids and compressed gases. Piston pumps are utilized in high-pressure cleaning, industrial processing machinery, liquid pumping, and hydraulics for both water and oil. Several players globally provide piston pumps. For example, Pump Solutions Australasia provides several piston pumps, including the HSK series hydraulic-driven, positive displacement piston pump, which is manufactured to tackle the toughest of applications involving heavy sludges, slurries, or other viscous materials. It is suitable for use in municipal, industrial, construction, rental, agriculture, and mining applications.

Bosch Rexroth Corporation; Danfoss; Linde Hydraulics GmbH & Co. KG.; Dynamatic Technologies Limited; HYDAC International GmbH; Parker Hannifin Corp; Kawasaki Heavy Industries, Ltd; Daikin Industries, Ltd.; Bucher Industries; and HAWE Hydraulik SE; are among the key hydraulic pumps market players that are profiled in this market study.

The overall Hydraulic Pumps Market size has been derived using both primary and secondary sources. Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the Hydraulic Pumps Market size. The process also helps obtain an overview and forecast of the market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain analytical insights. This process includes industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the Hydraulic Pumps Market.

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