Wellesley, Mass, Jan. 24, 2017 (GLOBE NEWSWIRE) -- Increasing demand from end-user industries is driving modest growth in the global market for hydraulic pumps. BCC Research reveals in its new report the recovery of the U.S. and European economies, growth of the Asia-Pacific countries, and increasing investments in various end-user industries will drive demand for hydraulic pumps during the next five years.
The hydraulic pump converts mechanical energy from the prime mover (engine or motor) into hydraulic energy. Hydraulic pumps are capable of pushing large quantities of oil through hydraulic motors or hydraulic cylinders. A pump does not generate pressure, but produces liquid flow or movement necessary for the generation of pressure.
The global market for hydraulic pumps should increase from nearly $9.3 billion in 2016 to $10.7 billion in 2021, demonstrating a five-year compound annual growth rate (CAGR) of 3.0%. The piston pumps segment is expected to reach $6.7 billion in 2021, up from nearly $5.8 billion in 2016, reflecting a five-year CAGR of 3.0%. The gear pumps market should grow at a five-year CAGR of 3.1% to reach $2.3 billion in 2021.
The global market for vane pumps is expected to increase from 1.6 million units in 2015, at a YOY growth rate of 3.5%, in terms of volume, to reach 1.7 million units valued at $1.1 billion, in 2016. The market should grow at a five-year CAGR of 3.0%, in terms of volume, and 2.9%, in terms of value, to reach 2 million units, valued at $1.3 billion, in 2021.
With the increasing demand for heavy equipment, especially in the North America, Europe and Asia-Pacific regions, global demand for hydraulic pumps has increased considerably, with sales in 2015 above $8.9 billion. Demand from emerging economies such as China, Indonesia, Malaysia, the Philippines, Brazil and India, should increase significantly, as well.
"Increasing raw material prices and stricter environmental regulations (current and anticipated regulations) with regard to CO2 emission levels have forced companies to develop pumps with advanced technologies," "says BCC Research analyst Aneesh Kumar. “The Asia-Pacific region and other developing regions are under increasing pressure to use environmentally friendly hydraulic pumps to reduce energy consumption and CO2 emissions, creating a huge market growth opportunity for industry players in emerging and developed markets."
Global Markets for Hydraulic Pumps (MFG034B) examines hydraulic pump data by the global regions of North America, Europe, Asia-Pacific, South America and rest of the world (ROW). Analyses of global market drivers and trends, with data from 2015, estimates for 2016, and projections of CAGRs through 2021 also are provided.
About BCC Research
BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information about BCC Research, please visit
bccresearch.com. Follow BCC Research on Twitter at
@BCCResearch.