Latest News- Gear Pump Market: Heavy industry sector is expected to lead the End-user segment during 2025-2029

The Gear Pump Market is being driven by Mechanization of agriculture and growth of agriculture machinery industry

The Gear Pump Market is expected to grow at a CAGR of 4.5% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 485.4 million. In emerging economies, particularly in Asia Pacific, Middle East, and South America, the expansion of specialty chemicals production and distribution sectors is experiencing significant growth. This trend is primarily driven by the burgeoning chemical industry in these regions, which is witnessing substantial investments. As a result, the production of chemicals is increasing, leading to a heightened demand for storage containers and transport pumps, including gear pumps, to facilitate the safe and efficient movement of organic and inorganic chemicals. The anticipated continued growth of the chemical industry in these regions is expected to fuel the demand for chemical products, thereby driving the market for gear pumps in the forecast period. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Heavy industry sector
  • Agriculture and forestry
  • Automotive
  • Others
• Type
  • External gear pump
  • Internal gear pump
• Capacity
  • 100-300 bar
  • Less than 100 bar
  • Above 300 bar
• Material
  • Cast iron
  • Stainless steel
  • Bronze
  • Other alloys
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Mechanization of agriculture and growth of agriculture machinery industry
• Growth in construction machinery industry
• Rising focus on increasing efficiency of machinery

However, the market also witnesses some limitations, which are as follows:

• Contraction in mining industry in China
• Volatility in raw material prices
• Reduction in prices of products due to heavy competition and government regulations

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Market Scope in Gear Pump Market Research Report

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Research Analysis Overview

The Gear Pumps market encompasses the production and supply of gear pumps as effective pump solutions for various industries. These pumps find extensive application in the construction sector for handling concrete and other heavy materials. In the industrial pump industry, gear pumps are utilized in chlor-alkali and ethylene dichloride production, as well as in water treatment activities and wastewater treatment plants. Notable users include the Porcupine Mine and agricultural machinery. Hydraulic Gear Pumps, characterized by intermeshing gears, offer energy-efficient solutions for the automotive sector and construction equipment. Gear pumps, as positive displacement pumps, excel in handling viscous fluids.

Market Research Overview

The global industrial machinery and supplies market, encompassing companies that manufacture machinery and components, includes gear pumps as a significant segment. This market's size is determined by the consolidated revenue generated by these entities supplying equipment for industries such as construction, chlor alkali, ethylene dichloride, and others. Market expansion will be fueled by the increasing industrial output in process and discrete industries, driven by the growing demand for energy, chemicals and petrochemicals, pulp and paper products, and processed food and beverages, particularly in developing economies. This trend is expected to significantly boost the demand for gear pumps in various industries.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

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