Gear Pump Market Insights Report
by Susan Hill Business Consultant4 April 2019, The global Gear Pump Market size is projected to reach
USD 2.32 billion by 2025. The growth is driven by increasing scope of
application in construction, automotive, and agriculture industries. In
addition, growth of oil and gas industry is expected to be a key factor driving
the market, especially in U.S. and the Middle Eastern countries. Gear pump is
predominantly used for displacement, transfer, and extraction of fluids in the
oil and gas industry.
Technological advancements play a
strategic role in fostering demand for gear pumps in different industries.
Various innovations, such as development of double gear pumps with minimal
number of parts and axial gauge, are reducing the production cost while
increasing the process reliability.
The integrated adaptive systems use
computer assisted manufacturing, which increases the production quality and
reduces the production time. For instance, Sumitomo Electric Industries, Ltd.
designed Parachoid and Megafloid motors for improving efficiency of gear pumps.
The advent of high-efficiency internal rotors has increased the efficiency and
reliability of industrial operations.
External gear pump held 80.09% of the
total market share in 2017. These are widely used as oil pumps in engines and
as lubrication pumps in machine tools and fluid power transfer units. Favorable
government policies in India and China to encourage investments in
petrochemical and agrochemical production are expected to open new growth
avenue over the forecast period.
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Oil and gas segment led the global
market in 2017 and is projected to expand at the highest CAGR of 4.4% during
the forecast period. To meet the growing demand for oil, many companies are
adopting techniques, such as microbial Enhanced Oil Recovery (EOR), CO2
injection, and thermal injection among others to increase oil production. This
trend is expected to boost demand for technological advanced gear pump over the
forecast period.
Growing global population and demand
for food are driving growth of agriculture industry. Nevertheless, changing
lifestyle and increasing disposable income are creating a huge demand for
residential construction and passenger cars. Thus, rapidly expanding
construction, automotive, and agriculture sectors, especially in emerging
economies including China and India, would drive the market.
The Europe gear pump market is
expected to register a CAGR of 3.3% from 2017 to 2025. Increasing government
initiatives for minimizing energy consumption and CO2 emission coupled with
demand for cost-effective solutions and quality products are expected to propel
the growth. Moreover, rising focus on R&D activities by key companies is
expected to provide substantial business opportunities.
In emerging economies, such as China
and India, lower product penetration and extensive applications are the key
growth opportunity drivers. Many prominent large- and medium-scale enterprises
are investing in manufacturing positive displacement pumps. Therefore, certain
economies within the Asia Pacific and Middle East and Africa regions are
anticipated to be lucrative markets for gear pumps over the next few years.
Major manufacturers in the gear pump
market are Eaton Corp. PLC; Bosch Rexroth AG; Kawasaki Heavy Industries, Ltd.;
Haight Pumps; Viking Pump, Inc.; Parker Hannifin Corp.; Albany Pumps. These
companies engage in manufacturing internal and external gear pumps. Each of
these companies has a broad product portfolio wherein different series and
models of gear pumps are featured with various combinations of specifications.
Hexa Research has segmented the global
gear pump market report based on product type, application and region:-
Segmentation by
Product Type
• Internal
• External
Segmentation by
Application
• Construction
• Automotive
• Chemicals
• Agriculture
• Oil & Gas
• Pulp & Paper
• Food & Beverages
• Others
Segmentation by
Region
• North America
• U.S.
• Europe
• Germany
• U.K.
• Asia Pacific
• China
• India
• Central and South America
• Middle East and Africa
Key Players
Analyzed
• Eaton, Bosch Rexroth
• Kawasaki Heavy Industries, Ltd.
• Haight Pumps
• Viking Pump, Inc.
• Parker Hannifin Corp.
• TUTHILL
• Albany Pumps
• ROPER PUMP COMPANY
• Pompe Cucchi Srl
• DESMI
• PSG
• SPX FLOW
• DAIDO MACHINERY CORPORATION
• VARISCO s.r.l.
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Created on Apr 3rd 2019 01:27. Viewed 352 times.