Market Size in 2021 | Market Forecast in 2028 | CAGR (in %) | Base Year |
---|---|---|---|
USD 1827.4 million | 2246.34 million | 3.50% | 2021 |
FrequentlyAsked Questions
The construction business is expected to rise as urbanization accelerates in developing economies such as India, China, Brazil, and Argentina. In addition, rapid residential sector expansion to satisfy the rising demand for urban living spaces, particularly in fast-growing economies, is also strengthening the construction industry, driving sales of a variety of construction equipment, including hydraulic gear pumps.
According to the report, the global Hydraulic Gear Pumps market was worth 1,827.4 (USD million) in 2021 and is predicted to grow to 2,246.34 (USD million) by 2028, with a compound annual growth rate (CAGR) of around 3.50%.
North America is expected to dominate the Hydraulic Gear Pumps Market in 2021 due to increasing global agricultural and construction activity and increased construction investment. The specific activities completed include building infrastructure and using hydraulic pumps extensively in the extraction of metals and minerals. Additionally, there has been a rise in demand for the shale gas production technique known as hydraulic fracturing.
Some of the main competitors dominating the global hydraulic gear pumps market include - Linde Hydraulics GmbH & Co. Kg, Bosch Rexroth AG, Sapricon Hydraulic Industries, Eaton Corporation Plc, Kawasaki Heavy Industries Ltd, Dynamatic Technologies Limited, Bucher Hydraulics GmbH, Parker Hannifin Corp, Marzocchi Pompe S.p.A., HYDAC, Daikin Industries Ltd., and Gemma Automotive.
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