Hydraulic Pumps Market - Forecasts from 2023 to 2028

The global hydraulic pumps market was valued at US$10.501 billion in 2021 and is projected to expand at a CAGR of 3.74% over the forecast period to reach US$13.575 billion by 2028

Hydraulic pumps are mechanical devices designed to generate fluid flow and create hydraulic power. They play a crucial role in hydraulic systems by converting mechanical energy into fluid pressure. The common types of pumps provided by the hydraulic pump industry are gear pumps, piston pumps, vane pumps, and screw pumps which find usage in aerospace & defense, industrial, automotive, and water treatment applications to provide precise control and reliable operation. The increased automotive production and the rise in water treatment activities are acting as driving factors expanding the hydraulic pump market size.

The hydraulic pumps market size will grow due to the rising automotive production

Hydraulic pumps are utilized in power steering systems to assist drivers in maneuvering their vehicles with ease and generate the hydraulic pressure necessary to assist in steering operations. The increase in automobile production coupled with recent product launches of hydraulic pumps will drive the growth in the hydraulic pump industry. According to the International Organization of Motor Vehicle Manufacturers (OICA) report in 2022, global commercial vehicle production reached 23,418,078 in 2022. In January 2022, Stromag launched hydraulic power units called "SHPU3" using hydraulic pumps, which are suitable to be used with Stromag hydraulic brakes and clutches and offer increased modularity and excellent performance.

Growing water treatment operations are anticipated to boost the hydraulic pump market growth

Hydraulic pumps are essential in wastewater treatment plants as they are used for pumping raw sewage, transferring sludge, and circulating wastewater within treatment processes. The rise in investment for new water treatment plants will propel the hydraulic pump industry's growth. In November 2022, Newmont announced an investment of $160 million for a water treatment plant at Porcupine Mine involving collection, treatment, and return of impacted water. Similarly, in March 2022, Saudi Arabia announced 60 water projects for water desalination and wastewater treatment worth SR35 billion ($9.33 billion) at the Mena Desalination Projects Forum 2022 in Abu Dhabi.

Increased aerospace & defense operations drive the market growth

Hydraulic pumps are critical components in various aerospace and defense applications, including aircraft, helicopters, missiles, and armored vehicles. These pumps provide the necessary hydraulic power to operate landing gears, control surfaces, braking systems, weapon systems, and other vital functions in aerospace and defense equipment. Increased aircraft production boosts the hydraulic pump market growth. In January 2020, Airbus announced that it would produce 63 A320 family aircraft per month in 2021 and invest another $40 million in the project, which brings the total investment to more than $1 billion

The Asia-Pacific region is expected to hold a significant market share

The Asia Pacific will account for a major share of the hydraulic pump market owing to the increased automotive production, and the establishment of water treatment plants in the region. In December 2021, the Chinese government announced the removal of limits on foreign investment in passenger car manufacturing to expand domestic car manufacturing in the country. In November 2022, the Asian Development Bank signed a $25 million debt facility with VA Tech Wabag Limited (Wabag) to support sanitation and water security through the development of new water treatment plants in India. Such developments will boost the demand for hydraulic pumps and drive regional hydraulic pump market growth.

High maintenance costs will restrain the hydraulic pump market growth

Hydraulic systems require regular maintenance and servicing to ensure optimal performance and longevity. The cost of maintenance, including periodic inspections, fluid changes, and potential repairs, can be a concern for businesses. Additionally, operational costs, such as energy consumption, can be significant, especially for large-scale hydraulic systems. The demand for hydraulic pumps in traditional internal combustion engine vehicles may decline in the long term with the growing focus on sustainable transportation and the shift towards electric vehicles (EVs). EVs rely primarily on electric drives and motors, restraining the hydraulic pump market size expansion in powertrain and braking applications.

Key Developments

• July 2021: Hi-Force launched an electric-driven hydraulic pump "HEP4" which incorporated the most reliable electric motors and controls within a robust enclosure and offered a low-pressure flow rate of 9 liters/min with automatic changeover to a high-pressure flow rate of 1 liter/min up to 700 bars.
• June 2021: ESCO launched a "Pro Series Hydraulic Pump [Model 10518]" capable of delivering 10,000 PSI of operating pressure and promoted safety, offering noise-reduced operation, and is suitable for automotive up to heavy-duty applications.
• April 2021: REHOBOT Hydraulics announced a new electric-powered hydraulic pump "PME70-2500MRV/VR70" with low weight, noise, and maintenance which would satisfy a wide range of customers within different application fields.
• 2021: Eaton launched "X3 hydraulic pumps" which were designed for medium-duty propel applications in machinery such as aerial work platforms, boom lifts, ag sprayers, harvesters and windrows, compactors, compact track loaders, skid-steer loaders, turf mowers, and utility vehicles.

Company Products

• X20 mobile open circuit pump: This hydraulic pump by Eaton Corporation is a small pump with big power that’s built for better productivity, fuel efficiency, control, and reliability.
• K7V series: Such products by Kawasaki Heavy Industries, Ltd are variable displacement axial piston pumps of swash plate design, suitable for use in mobile applications such as Excavators, Cranes, etc. A long life is obtained by adopting a large capacity of bearing and thicker shaft which reduces the load on the edge of bearing rollers.
• PA10VSO Series Hydraulic Pump: This pump by Yeoshe Hydraulics Technology Co. Ltd has a heavy load-bearing capacity with a low noise level and its working pressure is 280 Bar to 350 Bar.

Segmentation

By Type

• Gear Pump
• Piston Pump
• Vane Pump
• Screw Pump
• Others

By Material

• Aluminum
• Stainless Steel

By End-User

• Aerospace & Defense
• Industrial
• Automotive
• Water Treatment
• Construction
• Others

By Geography

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• Germany
• UK
• France
• Spain
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Others
• Asia Pacific
• China
• Japan
• South Korea
• India
• Australia
• Other