The Latest Hydraulic Gear Pump Industry Statistics Explained
The Global Hydraulic Gear Pump Market size was estimated at USD 1.94 billion in 2020.
This statistic indicates the estimated economic value of the global hydraulic gear pump market in the year 2020, which was calculated to be approximately USD 1.94 billion. This figure represents the total revenue generated by the sales of hydraulic gear pumps across various industries and regions worldwide during that specific time period. It serves as a key metric to gauge the market’s size and financial significance, providing insights into the scope and scale of the hydraulic gear pump industry on a global scale. The market size estimation is crucial in understanding the economic impact of hydraulic gear pumps and can be used by businesses, investors, policymakers, and researchers to make informed decisions and strategic planning related to this specific market segment.
About 39.8% of 2020 Hydraulic gear pump market was dominated by the construction industry application segment.
The statistic indicates that in the year 2020, approximately 39.8% of the total market share for hydraulic gear pumps was held by the construction industry application segment. This suggests that a significant portion of the hydraulic gear pump market was driven by demand from the construction industry. The dominance of the construction sector in this market highlights the importance of hydraulic gear pumps in construction equipment and machinery, implying that a considerable amount of these pumps were utilized in construction activities such as earthmoving, material handling, and other related applications during that period.
Europe was the second largest region accounting for 22% of the global hydraulic gear pump market.
This statistic indicates that Europe is the second biggest region in terms of market share in the global hydraulic gear pump market, capturing a 22% share of the total market. This suggests that Europe plays a significant role in the industry, with a substantial portion of hydraulic gear pump sales occurring within the region. The fact that Europe ranks second implies that there is at least one other region with a larger market share, highlighting the competitive landscape of the market. Companies operating in the hydraulic gear pump industry should pay attention to the European market as it represents a sizable portion of global demand for these products.
In 2020, North America dominated the hydraulic gear pump market with 38.4% market share.
In 2020, the statistic that North America dominated the hydraulic gear pump market with a 38.4% market share indicates that the North American region held a significant portion of the market compared to other regions. This means that more than a third of the global sales of hydraulic gear pumps in 2020 were attributed to companies operating in North America. The dominance of North America in this market suggests that the region has a strong presence of manufacturers, suppliers, and users of hydraulic gear pumps, likely due to factors such as technological advancements, industrial infrastructure, and demand for machinery requiring hydraulic systems. This statistic underscores the importance of North America in the hydraulic gear pump industry and highlights the region as a key player in the global market.
The Asia-Pacific region is projected to showcase the highest CAGR during the forecast period in the hydraulic gear pump market.
This statistic indicates that the hydraulic gear pump market in the Asia-Pacific region is anticipated to experience the highest Compound Annual Growth Rate (CAGR) compared to other regions over the forecast period. It suggests that there is strong growth potential for hydraulic gear pumps in countries across the Asia-Pacific region, driven by factors such as increasing industrialization, infrastructure development, and investments in sectors like manufacturing, construction, and mining. The high CAGR projection implies that companies operating in the hydraulic gear pump market may find significant opportunities for expansion and growth by focusing on this region during the forecast period.
The agriculture industry segment of the hydraulic gear pump market is likely to grow at the highest rate between 2021 and 2025.
This statistic suggests that within the hydraulic gear pump market, the agriculture industry segment is expected to experience the highest growth rate during the period from 2021 to 2025. This indicates a strong potential for increased demand for hydraulic gear pumps within the agriculture industry, likely driven by factors such as modernization of farming equipment, adoption of advanced irrigation systems, and the overall growth and development of the agriculture sector. Manufacturers and suppliers operating in the hydraulic gear pump market may benefit from focusing resources and efforts on serving the agriculture industry segment given its projected growth opportunities in the coming years.
The mobile applications segment holds the highest market share in the hydraulic gear pump market.
This statistic indicates that within the hydraulic gear pump market, the mobile applications segment dominates in terms of market share compared to other segments such as industrial machinery or automotive. The popularity and demand for hydraulic gear pumps in mobile applications, which include construction equipment, agricultural machinery, and material handling vehicles, have propelled this segment to hold the largest share of the market. Factors such as increasing construction activities, agriculture mechanization, and infrastructure development drive the demand for hydraulic gear pumps in mobile applications, cementing its position as the leading segment in the market.
The open loop segment dominates the hydraulic gear pump market with a share of over 62.0% in 2020.
This statistic indicates that in the hydraulic gear pump market in 2020, the open loop segment holds a significant majority share of over 62.0%. This suggests that a large portion of hydraulic gear pump sales and usage are dominated by the open loop segment, implying that it is a popular and preferred choice among consumers and industries. The strong market presence of the open loop segment may be due to various factors such as cost-effectiveness, efficiency, reliability, or specific industrial applications that align with its advantages. Overall, the statistic highlights the prominence and competitiveness of the open loop segment within the hydraulic gear pump market during the specified year.
The average price of Hydraulic Gear Pumps is in the decreasing trend, from 124 USD/Unit in 2013 to 117 USD/Unit in 2019.
The statistic indicates that the average price of Hydraulic Gear Pumps has shown a decreasing trend over the span of six years, dropping from 124 USD per unit in 2013 to 117 USD per unit in 2019. This suggests that over this time period, the cost of Hydraulic Gear Pumps has gradually declined on average. Possible factors contributing to this trend could include advancements in technology leading to more cost-effective production methods, increased competition among manufacturers driving prices down, or changes in market demand influencing pricing strategies. Overall, the decreasing trend in the average price of Hydraulic Gear Pumps reflects a downward movement in the pricing dynamics of this product category over the specified time frame.
Over the next five years the Hydraulic Gear Pumps market will register a 0.9% CAGR in terms of revenue.
This statistic suggests that the Hydraulic Gear Pumps market is expected to experience a Compound Annual Growth Rate (CAGR) of 0.9% in terms of revenue over the next five years. This indicates a gradual increase in the market size and financial performance of companies operating in this industry. A CAGR of 0.9% implies a relatively stable and moderate growth trajectory for the market, which may be influenced by factors such as technological advancements, industry trends, and market demands. Overall, this projection provides valuable insight into the anticipated revenue growth rate for the Hydraulic Gear Pumps market in the near future.
Among the regions, Asia Pacific Hydraulic Gear Pump market is predicted to advance at the highest rate, with a CAGR of 4.7% during the forecast period.
This statistic indicates that the Asia Pacific region is expected to experience the fastest growth in the Hydraulic Gear Pump market compared to other regions during the forecast period. The Compound Annual Growth Rate (CAGR) of 4.7% suggests a consistent and steady increase in market size and demand for Hydraulic Gear Pumps in the Asia Pacific region over the forecast period. This growth rate reflects various factors such as increasing industrialization, infrastructure development, and investments in sectors like construction, agriculture, and automotive industries in the Asia Pacific region. Overall, this prediction highlights the potential opportunities and attractiveness of the Hydraulic Gear Pump market in the Asia Pacific region for businesses and investors.
In terms of production side, Europe is the largest manufacturing region occupying 41.43% hydraulic gear pump market share in 2018.
This statistic indicates that in 2018, Europe held the largest market share of 41.43% in the global hydraulic gear pump industry from a production standpoint. This means that a significant portion of hydraulic gear pumps, used in various industries such as automotive, construction, and agriculture, were manufactured in Europe. The region’s dominance in this market suggests that European manufacturers are leading players in the production of hydraulic gear pumps, potentially due to factors such as advanced technology, skilled workforce, or established infrastructure. This statistic highlights Europe’s strong presence and influence in the manufacturing sector for hydraulic gear pumps during the specified year.
The market for cast iron hydraulic gear pumps is projected to grow at a CAGR of 3.7% during the forecast period 2021-2026.
This statistic indicates the anticipated growth rate for the market of cast iron hydraulic gear pumps over a specific timeframe, in this case, from 2021 to 2026. The Compound Annual Growth Rate (CAGR) of 3.7% suggests that the market is expected to expand steadily at an average annual rate of 3.7% over the forecast period. This projection implies that the demand for cast iron hydraulic gear pumps is anticipated to increase gradually during this timeframe, which could be driven by factors such as technological advancements, industry developments, and growing demand in various end-user industries. The CAGR provides a concise way to describe the overall growth trend of the market over the specified period.
More than 35% of the world’s total hydraulic gear pump market was held by external gear pumps in 2020.
The statistic indicates that in 2020, external gear pumps accounted for more than one-third (35%) of the global hydraulic gear pump market, making them a significant player in the industry. Hydraulic gear pumps are a type of hydraulic pump used in various industrial applications to generate fluid flow by mechanical action. External gear pumps are a specific subtype of hydraulic gear pumps where the gears are located outside the pump housing. This statistic suggests that external gear pumps were a popular and widely-used choice for hydraulic systems in 2020, highlighting their importance and market dominance within the hydraulic gear pump industry.
The US held the leading share in the North America hydraulic gear pump market in 2020.
This statistic indicates that in 2020, the United States had the highest market share in the hydraulic gear pump market within North America. This suggests that the US was the dominant player in this specific market segment, outperforming competitors in terms of sales, production or revenue. The leading share could be attributed to a variety of factors such as technological advancements, strong distribution networks, competitive pricing, brand reputation, or superior product quality. This statistic underscores the significance of the US as a key player in the hydraulic gear pump industry within the North American region.
The unloading hydraulic gear pump segment is expected to grow at a CAGR of 2.1% during the forecast period.
This statistic indicates the projected growth rate of the unloading hydraulic gear pump segment over a specific period, as represented by a compound annual growth rate (CAGR) of 2.1%. A CAGR of 2.1% suggests that this particular segment of the hydraulic gear pump market is expected to experience a steady, incremental increase in demand and market size over the forecast period. This growth rate provides valuable insight into the potential opportunities and trends within the unloading hydraulic gear pump sector, serving as a useful metric for businesses, investors, and industry analysts to assess the overall market dynamics and plan strategies accordingly.
The highest operational efficiencies in external hydraulic gear pumps was around 70-75% in 2020.
The statistic indicates that the external hydraulic gear pumps industry achieved its highest operational efficiencies in 2020, with figures around the range of 70-75%. Operational efficiency in this context refers to the ratio of output power to input power, reflecting the effectiveness and productivity of the gear pumps in converting energy. The mentioned range suggests that the industry has made significant strides in optimizing its performance, possibly through improvements in design, technology, or operational practices. This statistic highlights the advancements and achievements within the external hydraulic gear pump sector in 2020, showcasing a more efficient and effective utilization of resources for this type of machinery.
References
0. – https://www.www.mordorintelligence.com
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2. – https://www.www.researchandmarkets.com
3. – https://www.www.meticulousresearch.com
4. – https://www.www.globenewswire.com
5. – https://www.www.univdatos.com
6. – https://www.www.fortunebusinessinsights.com
