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The gear pump market size is forecast to increase by USD 470.3 million, at a CAGR of 4.5% between 2023 and 2028.
The market is experiencing significant growth due to the mechanization of agriculture and the expansion of the agriculture machinery industry. This trend is particularly noticeable in emerging economies, where investments in chemical manufacturing facilities are on the rise. However, the contraction In the mining industry in China may pose a challenge to market growth. The gear pumps market is a significant segment of the industrial pump industry, catering to various sectors including construction, water treatment, and the automotive industry. Mechanization in agriculture is leading to increased demand for efficient and reliable irrigation systems, which in turn is driving the demand for gear pumps. Additionally, the growing chemical manufacturing sector in developing countries is expected to boost the market, as gear pumps are extensively used In the production process of chemicals. Conversely, the mining industry's downturn in China, a major consumer of gear pumps, could negatively impact market growth. Overall, the market is poised for steady expansion, driven by the agriculture and chemical industries, despite the challenges posed by economic fluctuations in specific sectors.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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