South & Central America Hydraulic Pumps Market Forecast to 2030 - Regional Analysis - by Type and Application

The South & Central America hydraulic pumps market was valued at US$ 316.43 million in 2022 and is expected to reach US$ 385.73 million by 2030; it is estimated to register a CAGR of 2.5% from 2022 to 2030.

Government Initiatives for Infrastructure Development Fuel South & Central America Hydraulic Pumps Market

Governments of several nations are taking initiatives to develop new infrastructure, creating opportunities in the hydraulic pumps market. For instance, with a whopping 680 projects, the recently released 2024 bidding strategy highlights Chile's steadfast commitment to promoting economic growth through strategic infrastructure investments. These projects cover a broad range of industries and include desalination plants, road and rail networks, cable car systems, airport development, innovative architecture, hydraulic engineering, port expansions, and rural healthcare facilities.

Hydraulic pumps are highly used in machinery and equipment, such as bulldozers, loaders, cranes, trucks, and tractors, that are required for constructing roads and bridges. Hydraulic pumps power heavy machinery to perform tasks such as digging, breaking rocks, lifting, and moving materials efficiently. Therefore, rapid urbanization and an increase in government initiatives and funding for infrastructure development are expected to provide growth opportunities for the hydraulic pumps market during the forecast period.

South & Central America Hydraulic Pumps Market Overview

The growth of the South America hydraulic pumps market is driven by increasing mining activities in the region. Favorable initiatives taken by the government to develop new mining projects are creating opportunities for the hydraulic pumps market. For instance, in October 2023, South America hosted the fourth International Conference and Exhibition of Mining in Santiago, Chile. This international conference provides a top-level networking platform to industries for developing strategies to expand mining activities. The government is also showcasing the next decade's mining prospects for Peru and the rest of South America.

Increasing mining activities in the region are expected to generate lucrative opportunities for the hydraulic pump market during the forecast period. Hydraulic pumps are used in numerous mining machinery and equipment, including dump trucks, excavators, drill rigs, loaders, and shovels, to upgrade them to lift and move heavy loads. Thus, significant benefits offered by hydraulic pumps to the mining industry are anticipated to propel the market growth in the region.

South & Central America Hydraulic Pumps Market Segmentation

The South & Central America hydraulic pumps market is categorized into type, application, and country.

• Based on type, the South & Central America hydraulic pumps market is segmented into gear pump, piston pump, and vane pump. The gear pump segment held the largest South & Central America hydraulic pumps market share in 2022.
• In terms of application, the South & Central America hydraulic pumps market is segmented into construction, commercial vehicles, agriculture vehicles, aerospace, and others. The construction segment held the largest South & Central America hydraulic pumps market share in 2022.
• By country, the South & Central America hydraulic pumps market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America hydraulic pumps market share in 2022.

Bosch Rexroth Ltd, Danfoss LLC, Linde Hydraulics GmbH & Co KG, HYDAC International GmbH, Parker Hannifin Corp, Kawasaki Heavy Industries Ltd, Daikin Industries Ltd, and Bucher Hydraulics GmbH are some of the leading companies operating in the South & Central America hydraulic pumps market.