Gear Pump Market Analysis 2024-2028

The gear pump market is projected to grow by USD 470.3 million, with a CAGR of 4.5% from 2023 to 2028. The growth is driven by the mechanization of agriculture and the expansion of the agriculture machinery industry. Emerging economies are investing heavily in chemical manufacturing facilities, increasing demand for gear pumps. However, the downturn in the mining industry in China presents a challenge to market growth. Gear pumps play a key role in sectors like construction, water treatment, and automotive, meeting the demand for efficient and reliable fluid transfer solutions.

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Market Segmentation

The gear pump market is segmented based on end-user applications and geography.

End-User Segments

1. Heavy Industry Sector
2. Agriculture and Forestry
3. Automotive
4. Others

Regional Market Trends

• APAC
  Countries: China, India, Japan
  The Asia Pacific (APAC) region is expected to witness significant growth, driven by the construction industry's expansion in developing economies like China and India, and increasing investments in the defense sector, particularly in Japan, China, and India.

• North America
  Countries: US
  North America is forecast to contribute 31% to the market growth, with a significant focus on heavy industry and agriculture machinery.

• Europe
  Countries: Germany
  The European market remains stable with moderate growth driven by the demand in the automotive and construction sectors.

• South America

• Middle East and Africa

Market Dynamics

• Key Drivers

  1. Mechanization of agriculture and growth in agriculture machinery demand.
  2. Increased adoption of energy-efficient and environmentally sustainable solutions across sectors like automotive and chemical manufacturing.

• Market Trends

  1. Rising investments in chemical manufacturing facilities, especially in emerging economies.
  2. Focus on industrial automation and Industry 4.0 technologies, promoting smart manufacturing practices.

• Challenges

  1. Contraction in the mining industry in China.
  2. Noise generation from gear pumps and the need for noise reduction solutions

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Key Companies in the Gear Pump Market

Some of the key companies of the Gear Pump Market are as follows:

• A and S Hydraulic Co. Ltd.
• Avingtrans plc
• Bailey International LLC
• Bucher Industries AG
• CASAPPA SpA
• Daikin Industries Ltd.
• Danfoss AS
• Dover Corp.
• Eaton Corp. Plc
• Flowserve Corp.
• Hudaco Industries Ltd.
• IDEX Corp.
• Kawasaki Heavy Industries Ltd.
• KSB SE and Co. KGaA
• KYB Corp.
• Linde Hydraulics GmbH and Co. KG
• Parker Hannifin Corp.
• Permco Inc.
• Robert Bosch GmbH
• Roper Pump Co.