Authored By: Sarah
11 Jul 2024

 Gear Pump Market Size to grow by USD 470.3 million between 2024-2028

According to a research report “ Gear Pump Market” by End-user (Heavy industry sector, Agriculture and forestry, Automotive, Others) Geography (APAC, North America, Europe, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 470.3 million, at a CAGR of  4.5% during the forecast period. In the agricultural sector, gear pumps play a pivotal role in powering various types of machinery. These pumps are extensively used in tractors, combine and forage harvesters, field sprayers, poultry house machinery, and specialized harvesting equipment. With the global agricultural production aiming to double by 2050 to meet the demands of a growing population, there is a pressing need to enhance total factor productivity (TFP) in agricultural production systems. To achieve this goal, the mechanization of agricultural practices is essential, leading to an increased adoption rate of mechanized machinery, including gear pump-driven tractors, automatic seed dispensers, and harvesting machines. Despite agriculture being a sector with slow electronic integration, the need for higher TFP necessitates the investment in advanced agricultural machinery, thereby boosting the market potential for gear pumps.

Browse market data tables, figures, and in-depth TOC on “Gear Pump Market” by End-user (Heavy industry sector, Agriculture and forestry, Automotive, Others) Geography (APAC, North America, Europe, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample

 

By End-user, the Heavy industry sector segment is projected to dominate the market size in 2024

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By Geography, APAC  segment is expected to hold the largest market size for the year 2024

The Gear Pump Market represents a significant business opportunity for manufacturers and suppliers. This market is driven by various industries, including oil and gas, water and wastewater, and chemical processing. Key trends include increasing demand for energy efficiency and durability, as well as the adoption of advanced materials and technologies. Market growth is expected to remain robust due to the essential role gear pumps play in transporting fluids in various sectors.

APAC is forecasted to hold the largest market size by region in 2024

The Gear Pump Market represents a significant business opportunity for manufacturers and suppliers. This market is driven by the increasing demand for efficient and reliable fluid transfer solutions across various industries, including oil and gas, water and wastewater, and power generation. Gear pumps offer advantages such as high pressure capabilities, self-priming, and ability to handle abrasive fluids, making them a preferred choice for numerous applications. Market growth is further fueled by technological advancements, regulatory compliance, and expanding infrastructure projects.

The Gear Pump Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • 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.
.

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Research Analysis Overview

The Gear Pumps Market encompasses the production, sales, and installation of gear pumps used in various industries. These pumps are particularly suited for transferring viscous fluids, including automotive sector fluids, chemicals, fuels, oils, and other fluids. Gear pumps, a type of positive displacement pump, utilize intermeshing gears to move fluid. The market for gear pumps is vast and diverse, with applications in the automotive sector for power steering systems, agricultural machinery for transporting fuels and chemicals, and industrial pump industry uses in wastewater treatment plants and water treatment activities. Additionally, gear pumps are used in construction equipment and energy-efficient solutions for hydraulic systems. Notable industries utilizing gear pumps include the Porcupine Mine for ethylene dichloride and chlor alkali production and the construction sector for pump solutions. Despite their effectiveness, gear pumps can generate noise, making noise reduction a significant consideration for their design and application. Overall, the gear pumps market continues to grow due to their versatility and ability to handle viscous fluids efficiently.

Market Research Overview

The Gear Pumps Market encompasses various types of positive displacement pumps, including Concentric AB's Internal and External gear pumps. These pumps utilize intermeshing gears to transfer viscous fluids, such as chemicals, fuels, oils, and fluids, in industries like the Water Management sector, Mining sector, Infrastructure projects, and the Chemical Processing sector. Noise generation and environmental pollution are concerns in gear pump applications. Manufacturers like Concentric AB focus on customized solutions for energy efficiency, environmental sustainability, and Industry 4.0 practices, including automation and smart manufacturing. Key sectors for gear pumps include the Water Management sector, where they are used in wastewater treatment plants and water treatment activities. In the Mining sector, they are essential for slurry transport. The Industrial Pump Industry also relies on gear pumps for applications in Agricultural machinery, Construction equipment, and Hydraulic systems. The Automotive sector uses gear pumps for fuel and lubricating oil delivery. In the Chemical Processing sector, gear pumps handle chemicals like isocyanates, polymers, acids, mixed chemicals, sodium silicate, bitumen, and crude oil. The Petrochemical industry uses gear pumps in petrochemical projects, interstate crude pipelines, and for the production of PVC, Ethylene dichloride, Chlor alkali, and other household goods and automobiles. Despite pandemic restrictions, the market for gear pumps remains robust, with key players like Oberdorfer continuing to innovate and provide energy-efficient solutions.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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