LONDON, Jan. 4, 2017 /PRNewswire/ -- Use this report to:
- Analyze recent developments and current trends in the global market for hydraulic pumps.
- Identify significant drivers of revenue growth in specific hydraulic pump categories.
- Quantify the projected impact of the internal and external forces that are affecting the global industry today and that will affect it for the next several years.
- The global market for hydraulic pumps was valued at $8.9 billion in 2015. This market is expected to increase from nearly $9.3 billion in 2016 to $10.7 billion in 2021 at a compound annual growth rate (CAGR) of 3.0% for 2016-2021.
- Piston market is expected to grow from nearly $5.8 billion in 2016 to $6.7 billion in 2021 at a CAGR of 3.0% from 2016 through 2021.
- Gear market is expected to grow from nearly $2.0 billion in 2016 to $2.3 billion at a CAGR of 3.1% from 2016 through 2021.
The global market for hydraulic pumps is averaging a growth rate of over 3.0% in the recent past, due to increasing demand from the end-user industries. In this assessment of the market, hydraulic pumps have been broadly divided into three major types: piston pumps, gear pumps and vane pumps.
Piston pumps dominate the market in terms of value, while gear pumps dominate in terms of volume. Piston and gear pumps are used in high-pressure applications, while vane pumps are used in low-pressure applications. Earthmoving, mining, aerospace and defense, automotive and transportation, oil, gas and shipping, material handling, machine tools, agriculture and plastics are the major applications in which hydraulic pumps are used.
North America, Europe and Asia-Pacific are the three major markets by region for hydraulics. In 2015, North America dominated the market by value, followed by Asia-Pacific. In terms of volume, Asia-Pacific dominated the market followed by North America and Europe.
The recovery of the U.S. and European economies, growth of the Asia-Pacific countries, particularly India and China, and increasing investments in various end-user industries will drive demand for hydraulic pumps during the next five years.
STUDY GOALS AND OBJECTIVES
The goal of this report is to provide an up-to-date analysis of recent developments and current trends in the global market for hydraulic pumps, and to measure and forecast market growth over the next five years. Identifying significant drivers of revenue growth in specific hydraulic pump categories is an additional aim. The objective of this kind of systematic research is to quantify the projected impact of the internal and external forces that are affecting the global industry today and that will affect it for the next several years.
REASONS FOR DOING THE STUDY With the increasing demand for heavy equipment, especially in the North America, Europe and Asia-Pacific regions, global demand for hydraulic pumps has increased considerably, with sales in 2015 above $8.9 billion. Demand from emerging economies such as China, Indonesia, Malaysia, the Philippines, Brazil and India, is expected to increase significantly during the forecast period of 2016 to 2021. Increasing raw material prices and stricter environmental regulations (current regulations as well as those anticipated for the future) with regard to CO2 emission levels have forced companies to develop pumps with advanced technologies. Pressure is increasing in the Asia-Pacific region and other developing regions to use environmentally friendly hydraulic pumps in order to reduce energy consumption and CO2 emissions worldwide. This creates a huge market growth opportunity for the hydraulic pump players in emerging and developed markets.
SCOPE OF REPORT
The scope of this report is broad and covers various types of hydraulic pumps such as:
- Piston pumps.
- Vane pumps.
- Gear pumps.
End-user markets covered include:
- Oil and gas.
- Material handling.
- Aerospace and defense.
- Machine tools.
- Automotive and transportation.
This report also breaks down hydraulic pump data by the global regions of North America, Europe, Asia-Pacific, South America and rest of the world (ROW). The revenue forecasts from 2016 to 2021 are explained for each of these major types of hydraulic pumps, end-user industries and regional markets for each end-user industry. The report also discusses the major players across each of the subsegments and explains the major market drivers for the global hydraulic pump industry.
INTENDED AUDIENCE This report is intended especially for manufacturers, suppliers, end users and others in the value chain, with a vital interest in specific types of hydraulic pumps and market segments. The report should also be of interest to those in industries such as construction, mining, automotive, agriculture, oil, gas and shipping, and aerospace and defense. In addition, because of this report's business focus, it will be useful to sales executives and business managers as an up-to-date guide that includes the challenges and trends that are expected to be significant factors in the current and future market.
The findings and conclusions of this report are based on information gathered from a variety of sources. The primary sources of information were internet searches and industry association data, and interviews conducted with hydraulic pump manufacturers and distributors. In addition, secondary sources were consulted for the report, such as the industry journals and publications, product literature, white papers and technical journals, and financial reports for industry suppliers.
The base year for analysis and projection is 2015. With 2015 as a baseline, market projections were developed for 2016 to 2021. These projections are based on a combination of a consensus among the primary contacts combined with our understanding of the key market drivers, and their impact in terms of historical and analytical perspectives. The analytical methodologies used to generate the market estimates are described in detail in the market analysis. All dollar projections presented in this report are in 2015 constant dollars.
This BCC Research report, Global Market for Hydraulic Pumps, is based on a quantitative and qualitative method. BCC Research collects data through a variety of primary and secondary sources, including, but not limited to, interviews with industry vendors, white papers, business journals, public financial proceedings and historical market data from the Internet. The market data were assessed and validated, considering interrelated market attributes and the impact of global economic variables.
Furthermore, the market for each type of hydraulic pump is ascertained using a bottom-up approach through extensive research by application and region. Finally, the global market was ascertained by totaling all the hydraulic pump segments by function, end-user industry and region.
This report was developed by the market research analysts at BizImpact Knowledge Services LLP, a market research and services company. The project was managed by Aneesh Kumar, a partner in the company, along with input from various subject matter experts. Aneesh Kumar has more than 10 years of experience in handling custom research projects, and has worked with a multinational company on various research assignments for global markets.
Download the full report: https://www.reportbuyer.com/product/2403060/
Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers
For more information:
Research Advisor at Reportbuyer.com
Tel: +44 208 816 85 48
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/global-markets-for-hydraulic-pumps-300386032.html