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The gear pump market size is estimated to grow by USD 470.3 million at a CAGR of 4.5% between 2023 and 2028. The agricultural sector has witnessed significant advancements through mechanization, leading to increased productivity and efficiency. The agriculture machinery industry has experienced substantial growth as a result, with innovations such as automated harvesters, irrigation systems, and precision farming equipment becoming increasingly common. In parallel, the construction machinery industry has also seen robust expansion, driven by the need for infrastructure development and urbanization. As the global economy continues to evolve, there is a growing emphasis on reducing operational costs and enhancing machinery performance. This trend is expected to fuel further growth in both the agriculture and construction machinery industries.
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The market is witnessing significant growth due to their extensive application in various industries, including construction, water treatment, and the automotive sector. These pumps are essential components in pump solutions for transporting fluids such as oils, fuels, and chemicals. In the construction sector, gear pumps are widely used in construction equipment for moving concrete and other heavy materials. One challenge in the Gear Pumps market is the noise generated during operation. However, the demand for energy-efficient solutions is driving the development of quieter, more efficient gear pumps. In the chlor-alkali industry, gear pumps are used in the production of ethylene dichloride, while in the automotive sector, they are employed in fuel systems and power steering. Hydraulic gear pumps, which use intermeshing gears to move fluids, are popular in heavy machinery applications. Other industries, such as agriculture and wastewater treatment, also utilize gear pumps in their processes. Overall, the Industrial pump industry continues to grow, with the Gear Pumps market expected to expand alongside it. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Mechanization of agriculture and growth of the agriculture machinery industry is notably driving market growth. Gear pumps play a significant role in various industries, particularly in the sectors of Oils, Fuels, Chemicals, and the handling of viscous fluids. In the Automotive sector, gear pumps are employed for fuel and hydraulic applications. The Chemical processing sector relies on gear pumps for transferring and circulating chemicals. With the advent of automation, smart manufacturing practices, Industry 4.0, and energy efficiency, gear pumps have become essential components in ensuring the seamless operation of industrial processes.
Furthermore, the Infrastructure sector, Mining sector, and Water management sector also heavily utilize gear pumps due to their ability to handle high pressure and flow rates. Gear pump manufacturers offer customized solutions to cater to the unique requirements of these industries. With the increasing focus on environmental sustainability, gear pumps are being used in water scarcity mitigation projects and to reduce environmental pollution. Despite their widespread usage, gear pumps are not without challenges. External gear pumps and internal gear pumps each have their advantages and disadvantages, such as noise generation and efficiency. Consequently, continuous research and development efforts are being made to improve the performance and efficiency of gear pumps while minimizing their environmental footprint. Thus, such factors are driving the market's growth during the forecast period.
Rising investments in chemical manufacturing facilities in emerging economies is the key trend in the market. The global market for gear pumps is witnessing significant growth due to the increasing demand for efficient and reliable fluid transportation solutions in various industries. Gear pumps are extensively used for transporting oils, fuels, chemicals, and viscous fluids in sectors such as automotive and chemical processing. With the increasing focus on automation, smart manufacturing practices, Industry 4.0, energy efficiency, and environmental sustainability, the demand for gear pumps is expected to rise in infrastructure projects, mining, and water management. Gear pump manufacturers are providing customized solutions to cater to the specific requirements of these industries.
Furthermore, the growth of the chemical industry, particularly in emerging economies in Asia Pacific, the Middle East, and South America, is driving the demand for gear pumps in the transportation and dosing of organic and inorganic chemicals. Water scarcity and environmental pollution are also fueling the demand for gear pumps in water management applications. Despite the benefits, gear pumps can generate noise, which is a concern in certain applications. External and internal gear pumps are the two main types used in various industries, with external gear pumps being more commonly used for high-pressure applications and internal gear pumps being preferred for low-pressure applications. Thus, such trends will shape the market's growth during the forecast period.
Contraction in mining industry in China is the major challenge that affects the growth of the market. The global market for gear pumps is driven by various industries, such as automotive and chemical processing, which require the transportation of viscous fluids, including oils and fuels. Automation and smart manufacturing practices, in line with Industry 4.0, are increasing the demand for energy-efficient gear pumps. However, challenges such as environmental sustainability and infrastructure projects necessitate the adoption of gear pumps in water management and mining sectors.
Furthermore, gear pump manufacturers are focusing on providing customized solutions to cater to the unique requirements of these industries. Water scarcity and environmental pollution are major concerns, leading to the preference for gear pumps that minimize noise generation and offer high efficiency. Both external and internal gear pumps are utilized based on specific application needs. Despite these opportunities, market growth is hindered by economic challenges, particularly in the mining sector, where reduced mining activities due to decreased metal and coal imports in China have led to increased debts and financial instability. Hence, the above factors will impede the growth of the market during the forecast period
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
A and S Hydraulic Co. Ltd. - The company offers wide range of gear pumps such as Atos POX-34940, Atos POX-349, and more.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market share growth by the Heavy industry sector segment will be significant during the forecast period. The Gear Pumps market plays a significant role in various industries, including the construction sector, petrochemical industry, and automobile manufacturing. These pumps, which operate on the principle of positive displacement using intermeshing gears, provide efficient solutions for transporting fluids such as crude oil, diesel oil, lubricating oil, bitumen, sodium silicate, mixed chemicals, acids, polymers, isocyanates, and water.
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The Heavy industry sector segment showed a gradual increase in the market share of USD 815.60 million in 2018. In the construction sector, gear pumps are utilized in construction equipment and water treatment activities, including wastewater treatment plants. In the petrochemical industry, they are employed in chemical production and interstate crude pipelines. The petrochemical manufacturers also use gear pumps in the production of chlor alkali, ethylene dichloride, PVC, and other petrochemical projects. Moreover, gear pumps are essential in various applications within the automobile industry, such as in the fuel system, power steering, and hydraulic systems. In the household goods sector, they are used in the production of various items, including Maple cream machinery. The market has been impacted by pandemic restrictions, leading to a decrease in industrial activity. However, the demand for energy-efficient solutions and the increasing focus on reducing noise levels in industrial applications are expected to drive the market's growth. Oberdorfer, a leading manufacturer of gear pumps, offers a wide range of gear pumps designed for various applications, ensuring optimal performance and reliability. The company's gear pumps are used in various industries, including agriculture, where they are employed in agricultural machinery for transporting fluids such as water and fertilizers. Overall, the gear pumps market is expected to grow significantly due to the increasing demand for efficient and reliable pumping solutions in various industries.
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North America is estimated to contribute 31% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The market caters to various industries, including construction, petrochemical, automobiles, and agriculture, by providing efficient pump solutions. In the construction sector, gear pumps are utilized in the operation of Maple cream machinery and other construction equipment. The petrochemical industry relies heavily on gear pumps for transporting fluids such as crude oil, diesel oil, lubricating oil, bitumen, sodium silicate, and mixed chemicals in petrochemical projects. The chlor alkali and ethylene dichloride industries use gear pumps for producing PVC and other polymers. Oberdorfer, a leading gear pump manufacturer, offers energy-efficient solutions for the industrial pump industry. The pandemic restrictions have affected industrial activity, leading to a decline in demand for gear pumps in the petrochemical industry. However, the demand for gear pumps in water treatment activities and wastewater treatment plants has remained consistent. Gear pumps are also used in the production of isocyanates, acids, and other chemicals in the petrochemical industry. In the automobile industry, gear pumps are used for hydraulic systems and fuel systems. The agricultural machinery sector uses gear pumps for transporting fluids such as water and chemicals. The market is expected to grow due to the increasing demand for intermeshing gears and the need for reliable and efficient pumping solutions.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Million " for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
Transmission Oil Pump Market: Transmission Oil Pump Market Analysis APAC, North America, Europe, Middle East and Africa, South America - US, China, Japan, India, Germany - Size and Forecast
Automotive Pump Market: Automotive Pump Market Analysis Europe, North America, APAC, South America, Middle East and Africa - US, China, Japan, Germany, UK - Size and Forecast
Asphalt Pumps Market: Asphalt Pumps Market by Product and Geography - Forecast and Analysis
An In-depth Analysis of Applications, Key Players, and Trends Gear pumps are essential components in various industries, including construction, petrochemical, and automobiles, due to their ability to handle a wide range of fluids. In the construction sector, gear pumps are extensively used in construction equipment for moving fluids like bitumen, sodium silicate, and mixed chemicals. The petrochemical industry is another significant end-user of gear pumps. They are employed in the production of chemicals like chlor alkali, ethylene dichloride, PVC, acids, polymers, isocyanates, and petrochemical projects. In the petrochemical industry, gear pumps are used to transport crude oil, diesel oil, lubricating oil, and other fluids in interstate crude pipelines and refineries. Key players in the market include Oberdorfer, Maple Cream Machinery, and various others.
Furthermore, the market is witnessing a shift towards energy-efficient solutions, leading to the increased production of hydraulic gear pumps. The automobile industry also utilizes gear pumps for the transportation of fluids in engines and hydraulic systems. The pandemic restrictions have led to a decline in industrial activity, affecting the gear pumps market. However, the demand for gear pumps is expected to recover as industrial activity resumes, and new petrochemical projects come online. Positive displacement pumps, particularly those with intermeshing gears, are gaining popularity due to their high efficiency and reliability. The gear pumps market is expected to grow significantly in the coming years due to the increasing demand for pump solutions in various industries. Gear pumps are also used in water treatment activities, wastewater treatment plants, agricultural machinery, and various other applications. Overall, the gear pumps market is expected to grow steadily, driven by the increasing demand for pump solutions in various industries.
Market Scope |
|
Report Coverage |
Details |
Page number |
152 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.5% |
Market growth 2024-2028 |
USD 470.3 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.23 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
North America at 31% |
Key countries |
US, China, Russia, Japan, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
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, and Roper Pump Co. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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
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