World Hydraulic Pump Market - Opportunities and Forecasts, 2015-2022 MarketIntelReports newly published a research report on World Hydraulic Pump Market Opportunities and Forecasts, 2015-2022 with covering detailed analysis on market segmentation, global notable vendors, geographical outlook, price & financial updates, segment & application approach and future forecasts.
Published on –01 May, 2016 | Number of pages :120 Single User Price: $4515
According to a new report published by MarketIntelReports, titled, "World Hydraulic Pump Market" the global hydraulic pump market is expected to garner $10.4 billion by 2022, growing at a CAGR of 4.7% during 2016 - 2022. In the year 2015, the Asia-Pacific region accounted for the largest market share of 36.7%, followed by North America. Growth in developing countries including China and India would primarily be supplemented by increasing usage of hydraulic pumps in manufacturing industry, construction activities and in automobiles.
Hydraulic pump works on displacement principle. The pump converts mechanical energy into hydraulic energy, which is utilized to perform various tasks such as lift, lower, open, close or rotate components in various mobile and industrial application areas. The pumps are manufactured depending on different functional and hydraulic system requirements. Increase in construction activities globally, rising sales of automobiles and increasing application in mining industry are the major factors propelling the demand for hydraulic pumps. In addition to this, government regulations focused towards reduction of CO2 emission and increased awareness about energy saving has led to the expansion of this market. However, high cost of manufacturing is a major challenge faced by the players operating in the market. Increasing pace of infrastructural improvement and increasing demand for renewable energy offers promising opportunity for players in the hydraulic pump market. Moreover, upgradation of existing machinery would also provide lucrative business opportunity to the players.
Based on type, hydraulic pumps are classified as vane, piston, and gear pumps. Among all product types, gear pumps dominated the market in 2015, accounting for over 50% of the overall market revenue owing to their compatibility with varied fluid types and lower cost as compared to other product types. Piston pump is expected to be the fastest growing product category, on account of its high efficiency, reliability, and increasing usage in high pressure application areas such as mining, construction, and others. Market by application comprises mobile and industrial application. Sub-segments of the mobile application segment includes construction, agriculture, mining and others. In the year 2015, the mobile application segment occupied a major share of the overall market. However, the industrial segment is anticipated to grow at a faster rate during 2016 - 2022, owing to increasing application of hydraulic pumps in manufacturing activities in the developing economies.
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Key questions answered in this report • What will the market size be in 2020 and what will the growth rate be? • What are the key market trends? • What is driving this market? • What are the challenges to market growth? • Who are the key vendors in this market space? • What are the market opportunities and threats faced by the key vendors? • What are the strengths and weaknesses of the key vendors? You can request one free hour of our analyst’s time when you purchase this market report. Details are provided within the report.
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World Hydraulic Pump Market Opportunities and Forecasts, 2015-2022 A detailed qualitative analysis of the factors responsible for driving and restraining growth of the World Hydraulic Pump Market - Opportunities and Forecasts, 20152022 and future opportunities are provided in the report.
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