Growth In Hydraulic Pump Market

Growth In Hydraulic Pump Market

Hydraulic pump is the pump which converts mechanical energy into hydraulic energy while working on the displacement principle. In the year 2015, Asia-Pacific region accounted for the largest market share of 36.7%, followed by North America. Growth in developing countries including China and India has been primarily supplemented by the increasing use of hydraulic pumps in the manufacturing industry, construction activities, and in automobiles. The Asia-Pacific region was estimated to be the largest market in terms of revenue, also because of increased use of hydraulic pumps in the manufacturing industry. The region is expected to grow at the highest CAGR of 5.5% during the forecast period on account of increase in utilization of hydraulic pumps in manufacturing industry, construction equipment, and in automobiles. The countries of Latin America, Middle East, and Africa (LAMEA) are forecast to grow at a CAGR of 4.8% due to the increasing application of piston pumps in oil extraction and mining activities.

The key market players profiled in the report are Bosch Rexroth Ltd, Eaton Corporation Plc, Danfoss Power Solutions, Parker Hannifin Corporation, Actutant Corporation, Bailey International LLC, Linde Hydraulics, Dynamatic Technologies Ltd, Hydac International, and Toshiba Machine Co. Ltd. Manufacturers have launched new original hydraulic pumps to strengthen their foothold in the market. Manufacturers of hydraulic pumps, such as Eaton and Bosch Rexroth Ltd., are making continuous efforts to improve their hydraulic pumps in terms of low noise level, compact size, lower maintenance cost, and longer pump life.