Variable Displacement Pumps Market Worth 4.03 Billion USD by 2021
PUNE, India, July 28, 2016 /PRNewswire/ --
The report "Variable Displacement Pumps Market by Type (Piston and Vane), Application (Hydraulic and IC Engine), End-use Industry (Construction, Mining, Automotive, Agriculture, Plastic, and Material Handling) - Global Trends & Forecasts to 2021", published by MarketsandMarkets, The global market is projected to reach USD 4.03 Billion by 2021, registering a CAGR of 4.1% between 2016 and 2021.
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Browse 67 market data Tables and 60 Figures spread through 153 Pages and in-depth TOC on "Variable Displacement Pumps Market"
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The growing construction industry is expected to drive the variable displacement pumps market during the forecast period. The tremendous growth of industrial production, and rise in the number of vehicles are primarily responsible for the high consumption of variable displacement pumps. Piston pump is the most preferred type of variable displacement pumps owing to its various advantages such as wide volumetric & pressure efficiency range.
Hydraulic machine to account for the largest share of the variable displacement pumps market by 2021
The variable displacement pumps market is segmented by application, namely, hydraulic machine and IC engine. In 2015, the hydraulic machine segment captured the maximum share of the overall market and is expected to witness moderate growth rate during the forecast period. The growth of the hydraulics machine application is primarily driven by the rising demand from end-use industries. On the other hand, the IC engine application is projected to be the fastest-growing application during the forecast period. The growing automotive industry boosts the vehicle production, thus fueling the growth of the variable displacement pumps market across the globe.
Construction to be the largest end-use industry of the variable displacement pumps market between 2016 and 2021
The construction industry accounted for the largest share of the variable displacement pumps market. Variable displacement pumps are mostly used in construction equipment for better control over machine activity. The rising global population and need for construction activities are the major factors driving the growth of the construction industry across the globe, which in-turn is contributing to the growth of the variable displacement pumps market.
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Asia-Pacific to be the largest market during the forecast period
The variable displacement pumps market is broadly segmented into five regions, namely, Asia-Pacific, North America, Europe, the Middle East & Africa, and South America. Asia-Pacific is the largest market and is projected to be the fastest-growing market during the forecast period. This dominance by the Asia-Pacific region is mainly due to rapid economic growth, particularly in the construction and automotive industries in the region. In addition, rapid industrialization in Asia-Pacific coupled with improved living standard is driving the market for variable displacement pumps.
Currently, the global variable displacement pumps market is dominated by various market players such as Bosch Rexroth AG (Germany), Parker Hannifin Corp. (U.S.), Danfoss A/S (Denmark), Eaton Corporation (U.S.), The Oilgear Company (U.S.), Kawasaki Heavy Industries (Japan), Yuken Kogyo Co., Ltd. (Japan), Atos Spa (Italy), Hawe Hydraulics (Germany), and Casappa Spa (Italy) among others.
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