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Hydraulic Pumps Global Market Report 2022
Major players in the hydraulic pumps market are Kawasaki Heavy Industries, Ltd, Daikin Industries Ltd, CASAPPA S. p. A, Linde Hydraulics, Parker Hannifin Corporation, Oilgear, Eaton Corporation PLC, Dynamatic Technologies Ltd.
New York, Sept. 15, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Hydraulic Pumps Global Market Report 2022" - https://www.reportlinker.com/p06318515/?utm_source=GNW
, Danfoss AS, Bucher Industries AG, Bosch Rexroth AG, HYDAC International GmbH, Caterpillar Inc., Roper Pump Company, Viking Pump Inc., Permco, Inc., and KYB Corporation.
The global hydraulic pumps market is expected to grow from $8.88 billion in 2021 to $9.39 billion in 2022 at a compound annual growth rate (CAGR) of 5.67%. The hydraulic pumps market is expected to reach $11.35 billion in 2026 at a CAGR of 4.86%.
The hydraulic pumps market consists of sales of hydraulic pumps by entities (organizations, sole traders, and partnerships) that refer to a mechanical device that transforms mechanical energy into hydraulic energy.Initially, the pump’s mechanical action generates a vacuum at the intake, allowing air pressure to drive liquid from the reservoir into the inlet line of the pumps.
Then, its mechanical action drives this liquid into the hydraulic system by delivering it to the pump output.
The main types of hydraulic pumps include gear pumps, vane pumps, piston pumps, and screw pumps.The gear pumps contain a fixed displacement design and operate by pumping fluid through the systems by means of a prime mover such as an engine or a motor.
They are used in mobile and industrial applications in end-use industries ranging from construction, mining, agriculture, machinery, automotive, and others.
North America was the largest region in the hydraulic pumps market in 2021.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the hydraulic pumps market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The hydraulic pumps market research report is one of a series of new reports that provides hydraulic pumps market statistics, including hydraulic pumps industry global market size, regional shares, competitors with a hydraulic pumps market share, detailed hydraulic pumps market segments, market trends and opportunities, and any further data you may need to thrive in the hydraulic pumps industry. These hydraulic pumps market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The increase in construction activities is driving the hydraulic pumps market.Hydraulic pumps are widely used in construction equipment such as excavators, cranes, loaders, and other machinery to pull, push or lift heavy loads in day-to-day operational activities.
An increase in construction activities across the globe is expected to boost increased demand for hydraulic pumps, as they are primary components in heavy lifting equipment. According to the U.S. Census Bureau report on monthly construction spending in March 2022, the construction investment reached $376.6 billion in the first three months of 2022, which showed a 12.0% increase from $336.3 billion in the same time in 2021. Therefore, the rising construction activities are expected to boost demand for hydraulic pumps during the forecast period.
Product innovation in hydraulic pumps is a key trend gaining popularity in the hydraulic pump market.The companies operating in the hydraulic pumps sector are increasingly focusing on developing IoT-based smart hydraulic pumps with advanced technology integrations such as big data, analytics, machine learning algorithms, and cognitive intelligence to analyze and visualize data.
Smart hydraulic pumps developed utilizing advanced technologies monitor and deliver real-time data on various aspects, including the pump’s health, productivity, pressure, temperature, and the velocity of water flowing through the outlet.In November 2019, Grundfos, a manufacturer of sophisticated pump systems, partnered with Telenor Connexion to establish a resilient and agile ecosystem to support the Grundfos IoT strategy in the future.
Telenor Connexion is a provider of managed IoT connectivity services.
In May 2022, Pedrollo Group, an Italy-based company specializing in water treatment, energy conversion, and applied technology, acquired Superior Pump for an undisclosed amount.Through this acquisition, the Pedrollo Group is focused on expanding hydraulic pump technology in North America and expand its business presence across the globe.
The long-term strategy of this acquisition is to market and launch the Pedrollo brand in the United States and Canada. Superior Pump is a Minnesota-based company specializing in residential/light commercial duty pumps.
The countries covered in the hydraulic pumps market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
Read the full report: https://www.reportlinker.com/p06318515/?utm_source=GNW
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