Hydraulic Pump Market Size, Share, Growth Analysis, By Service(Prophylactic Vaccines, Therapeutic Vaccines), By Application(Rare Genetic Diseases, Oncology) - Industry Forecast 2024-2031

Hydraulic Pump Market size was valued at USD 10.6 Billion in 2022 and is poised to grow from USD 11.02 Billion in 2023 to USD 15.09 Billion by 2031, at a CAGR of 4% during the forecast period (2024-2031).

The worldwide hydraulic pump market is characterized by a fiercely competitive environment that includes a wide range of competitors, from long-standing industry leaders to cutting-edge newcomers. Eaton Corporation, Parker Hannifin Corporation, Bosch Rexroth AG, Danfoss Group, Kawasaki Heavy Industries Ltd., and Eaton Corporation are important market participants. To retain a sizable market presence, these sector leaders make use of their broad knowledge, cutting-edge technology, and huge distribution networks. 'Eaton Corporation (United States)', 'Parker Hannifin Corporation (United States)', 'Bosch Rexroth AG (Germany)', 'Danfoss Group (Denmark)', 'Kawasaki Heavy Industries Ltd. (Japan)', 'Eaton Corporation (United States)', 'Bucher Hydraulics GmbH (Switzerland)', 'Hydac International GmbH (Germany)', 'Sauer-Danfoss (Danfoss Power Solutions) (Denmark)', 'Casappa S.p.A (Italy)', 'Concentric AB (Sweden)', 'Tokyo Keiki Inc. (Japan)', 'Yuken Kogyo Co., Ltd. (Japan)', 'Oilgear Company (United States)', 'Linde Hydraulics (Germany)', 'Atos S.p.A (Italy)', 'Vickers (Eaton Corporation) (United States)', 'Moog Inc. (United States)', 'Permco Inc. (United States)', 'Hawe Hydraulik SE (Germany)'

The use of hydraulic pumps is fueled by the growing focus on energy efficiency and sustainability since they provide effective power transfer and may be incorporated into environmentally friendly systems.

Electricity and hybrid technology: With the integration of electric components to improve energy efficiency and minimize environmental effect, the hydraulic pump industry is observing a trend toward electrification and hybridization.

The hydraulic pump industry is expected to benefit significantly from the Asia Pacific region. The crucial role hydraulic pumps play in addressing the region's increasing demand on its water supplies serves to highlight this contribution. Population growth, fast urbanization, rising energy consumption, industrial activity, and household water use have all contributed to the overall stress on water resources, particularly in the context of agriculture. Around 80% of Asia's groundwater is dedicated to agricultural irrigation, a large percentage of it is wasted, and many Asian nations significantly rely on it for irrigation. Hydraulic pumps stand out as a key option in this situation because of their user-friendly controls and capacity to significantly increase production.