June 20, 2024

Gear Pumps Market Size to Rake USD 12.8 Billion by 2033

The global gear pumps market size is expected to increase USD 12.8 billion by 2033 from USD 9.1 billion in 2023 with a CAGR of 3.40% between 2024 and 2033.

Key Takeaways

  • Asia Pacific held the largest share of the market in 2023.
  • By product type, the external gear pump segment held the largest segment of the gear pumps market in 2023.
  • By product type, the internal gear pump segment is expected to grow at a significant rate during the forecast period.
  • By operating pressure, the 100-300 bar gear pump segment held the dominating share of the gear pumps market in 2023.
  • By operating pressure, the above 300 bar segment is expected to grow at a notable rate.
  • By end-user, the construction diagnostics segment held the largest share of the market in 2023.
  • By end-user, the oil and gas segment is expected to grow at a notable rate.
Gear Pumps Market Size 2024 To 2033

Introduction:

The gear pumps market is witnessing steady growth owing to their widespread application across various industries. Gear pumps are positive displacement pumps that use intermeshing gears to pump fluids. They are known for their reliability, efficiency, and ability to handle a wide range of viscosities, making them ideal for diverse applications. The market for gear pumps is driven by factors such as increasing demand from industries such as oil & gas, chemicals, food & beverage, and automotive, coupled with technological advancements and the need for more efficient pumping solutions.

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Growth Factors

Several factors contribute to the growth of the gear pumps market. One significant factor is the expanding industrial sector, particularly in emerging economies, which drives the demand for pumping equipment for various processes. Additionally, the rise in investments in infrastructure development projects, such as water treatment plants, refineries, and manufacturing facilities, further boosts the demand for gear pumps. Moreover, the adoption of advanced materials and technologies in pump manufacturing, leading to improved efficiency, durability, and performance, is fueling market growth.

Gear Pumps Market Scope

Report CoverageDetails
Global Market Size in 2023USD 9.1 Billion
Global Market Size by 2033USD 12.8 Billion
Growth Rate from 2024 to 2033CAGR of 3.40%
Largest MarketNorth America
Base Year2023
Forecast Period2024 to 2033
Segments CoveredBy Product Type, By Operating Pressure, and By End-User
Regions CoveredNorth America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Gear Pumps Market Dynamics

Drivers:

The market for gear pumps is primarily driven by their versatility and reliability in pumping various types of fluids, including viscous liquids, corrosive chemicals, and abrasive materials. Gear pumps offer consistent flow rates and are capable of handling high-pressure applications, making them essential in industries such as oil & gas for metering and transferring fluids. Furthermore, the need for energy-efficient pumping solutions is driving the adoption of gear pumps equipped with advanced features such as variable speed drives and smart control systems, reducing energy consumption and operating costs for end-users.

Restraints:

Despite their widespread use and advantages, the gear pumps market faces certain restraints. One such restraint is the competition from alternative pumping technologies such as centrifugal pumps and diaphragm pumps, which may offer advantages in specific applications or operating conditions. Additionally, challenges related to maintenance, including wear and tear of pump components and the need for regular lubrication, can increase operational costs for users. Moreover, fluctuations in raw material prices and regulatory uncertainties may pose challenges for pump manufacturers in terms of cost management and compliance.

Opportunity:

The gear pumps market presents opportunities for manufacturers to innovate and expand their product offerings to cater to evolving customer needs and industry requirements. With the growing emphasis on sustainability and environmental conservation, there is a rising demand for gear pumps designed to minimize energy consumption and reduce carbon emissions. Manufacturers can capitalize on this trend by developing energy-efficient pump designs and incorporating features such as IoT connectivity for remote monitoring and predictive maintenance. Furthermore, the increasing focus on digitization and automation in industrial processes creates opportunities for the integration of smart pump technologies, enhancing efficiency, reliability, and operational flexibility.

Region Snapshot

The demand for gear pumps varies by region, influenced by factors such as industrialization, infrastructure development, and economic growth. In regions such as Asia Pacific, particularly in countries like China and India, rapid industrialization and urbanization drive the demand for gear pumps across various sectors, including manufacturing, construction, and agriculture. North America and Europe also represent significant markets for gear pumps, supported by robust manufacturing industries and investments in infrastructure projects. In regions with mature economies, replacement and upgrade activities in existing industrial facilities contribute to market growth. Additionally, regions with burgeoning oil & gas exploration and production activities, such as the Middle East and Africa, offer growth opportunities for gear pump manufacturers catering to the energy sector.

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Recent Developments

  • In December 2021, Shimadzu Corporation introduced its newly advanced Serenade SRP 300 series of gear pumps. It offers a low-noise design that decreases noise by up to 30 % in contrast to preceding models.
  • In May 2021, EnviroGear announced that its G Series internal gear pumps are now available with jacketing to improve the G Series’ stability and temperature control.
  • In October 2021, Hydreco launched new external gear pumps for movable applications, such as forestry, construction equipment, municipal machines, earthmoving machinery, and agricultural.

Gear Pumps Market Companies

  • Bosch Rexroth AG
  • Bucher Hydraulics GmbH
  • CASAPPA S.p.A.
  • Daikin Industries, Ltd.
  • Danfoss
  • Eaton Corporation plc
  • Kawasaki Heavy Industries, Ltd.
  • KYB Corporation
  • Parker-Hannifin Corporation
  • Viking Group, Inc.

Segments Covered in the Report

By Product Type

  • External gear pump
  • Internal gear pump

By Operating Pressure

  • Less than 100 Bar
  • 100–300 Bar
  • Above 300 Bar

By End-User

  • Construction
  • Mining
  • Chemical and Petrochemical
  • Oil and Gas
  • Automotive
  • Agriculture
  • Others

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Gear Pumps Market 

5.1. COVID-19 Landscape: Gear Pumps Industry Impact

5.2. COVID 19 – Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global Gear Pumps Market, By Product Type

8.1. Gear Pumps Market Revenue and Volume, by January, 2024-2033

8.1.1 External gear pump

8.1.1.1. Market Revenue and Volume Forecast (2021-2033)

8.1.2. Internal gear pump

8.1.2.1. Market Revenue and Volume Forecast (2021-2033)

Chapter 9. Global Gear Pumps Market, By Operating Pressure

9.1. Gear Pumps Market Revenue and Volume, by Operating Pressure, 2024-2033

9.1.1. Less than 100 Bar

9.1.1.1. Market Revenue and Volume Forecast (2021-2033)

9.1.2. 100–300 Bar

9.1.2.1. Market Revenue and Volume Forecast (2021-2033)

9.1.3. Above 300 Bar

9.1.3.1. Market Revenue and Volume Forecast (2021-2033)

Chapter 10. Global Gear Pumps Market, By End-User 

10.1. Gear Pumps Market Revenue and Volume, by End-User, 2024-2033

10.1.1. Construction

10.1.1.1. Market Revenue and Volume Forecast (2021-2033)

10.1.2. Mining

10.1.2.1. Market Revenue and Volume Forecast (2021-2033)

10.1.3. Chemical and Petrochemical

10.1.3.1. Market Revenue and Volume Forecast (2021-2033)

10.1.4. Oil and Gas

10.1.4.1. Market Revenue and Volume Forecast (2021-2033)

10.1.5. Automotive

10.1.5.1. Market Revenue and Volume Forecast (2021-2033)

10.1.6. Agriculture

10.1.6.1. Market Revenue and Volume Forecast (2021-2033)

10.1.7. Others

10.1.7.1. Market Revenue and Volume Forecast (2021-2033)

Chapter 11. Global Gear Pumps Market, Regional Estimates and Trend Forecast

11.1. North America

11.1.1. Market Revenue and Volume Forecast, by January (2021-2033)

11.1.2. Market Revenue and Volume Forecast, by Operating Pressure (2021-2033)

11.1.3. Market Revenue and Volume Forecast, by End-User (2021-2033)

11.1.4. U.S.

11.1.4.1. Market Revenue and Volume Forecast, by January (2021-2033)

11.1.4.2. Market Revenue and Volume Forecast, by Operating Pressure (2021-2033)

11.1.4.3. Market Revenue and Volume Forecast, by End-User (2021-2033)

11.1.5. Rest of North America

11.1.5.1. Market Revenue and Volume Forecast, by January (2021-2033)

11.1.5.2. Market Revenue and Volume Forecast, by Operating Pressure (2021-2033)

11.1.5.3. Market Revenue and Volume Forecast, by End-User (2021-2033)

11.2. Europe

11.2.1. Market Revenue and Volume Forecast, by January (2021-2033)

11.2.2. Market Revenue and Volume Forecast, by Operating Pressure (2021-2033)

11.2.3. Market Revenue and Volume Forecast, by End-User (2021-2033)

11.2.4. UK

11.2.4.1. Market Revenue and Volume Forecast, by January (2021-2033)

11.2.4.2. Market Revenue and Volume Forecast, by Operating Pressure (2021-2033)

11.2.4.3. Market Revenue and Volume Forecast, by End-User (2021-2033)

11.2.5. Germany

11.2.5.1. Market Revenue and Volume Forecast, by January (2021-2033)

11.2.5.2. Market Revenue and Volume Forecast, by Operating Pressure (2021-2033)

11.2.5.3. Market Revenue and Volume Forecast, by End-User (2021-2033)

11.2.6. France

11.2.6.1. Market Revenue and Volume Forecast, by January (2021-2033)

11.2.6.2. Market Revenue and Volume Forecast, by Operating Pressure (2021-2033)

11.2.6.3. Market Revenue and Volume Forecast, by End-User (2021-2033)

11.2.7. Rest of Europe

11.2.7.1. Market Revenue and Volume Forecast, by January (2021-2033)

11.2.7.2. Market Revenue and Volume Forecast, by Operating Pressure (2021-2033)

11.2.7.3. Market Revenue and Volume Forecast, by End-User (2021-2033)

11.3. APAC

11.3.1. Market Revenue and Volume Forecast, by January (2021-2033)

11.3.2. Market Revenue and Volume Forecast, by Operating Pressure (2021-2033)

11.3.3. Market Revenue and Volume Forecast, by End-User (2021-2033)

11.3.4. India

11.3.4.1. Market Revenue and Volume Forecast, by January (2021-2033)

11.3.4.2. Market Revenue and Volume Forecast, by Operating Pressure (2021-2033)

11.3.4.3. Market Revenue and Volume Forecast, by End-User (2021-2033)

11.3.5. China

11.3.5.1. Market Revenue and Volume Forecast, by January (2021-2033)

11.3.5.2. Market Revenue and Volume Forecast, by Operating Pressure (2021-2033)

11.3.5.3. Market Revenue and Volume Forecast, by End-User (2021-2033)

11.3.6. Japan

11.3.6.1. Market Revenue and Volume Forecast, by January (2021-2033)

11.3.6.2. Market Revenue and Volume Forecast, by Operating Pressure (2021-2033)

11.3.6.3. Market Revenue and Volume Forecast, by End-User (2021-2033)

11.3.7. Rest of APAC

11.3.7.1. Market Revenue and Volume Forecast, by January (2021-2033)

11.3.7.2. Market Revenue and Volume Forecast, by Operating Pressure (2021-2033)

11.3.7.3. Market Revenue and Volume Forecast, by End-User (2021-2033)

11.4. MEA

11.4.1. Market Revenue and Volume Forecast, by January (2021-2033)

11.4.2. Market Revenue and Volume Forecast, by Operating Pressure (2021-2033)

11.4.3. Market Revenue and Volume Forecast, by End-User (2021-2033)

11.4.4. GCC

11.4.4.1. Market Revenue and Volume Forecast, by January (2021-2033)

11.4.4.2. Market Revenue and Volume Forecast, by Operating Pressure (2021-2033)

11.4.4.3. Market Revenue and Volume Forecast, by End-User (2021-2033)

11.4.5. North Africa

11.4.5.1. Market Revenue and Volume Forecast, by January (2021-2033)

11.4.5.2. Market Revenue and Volume Forecast, by Operating Pressure (2021-2033)

11.4.5.3. Market Revenue and Volume Forecast, by End-User (2021-2033)

11.4.6. South Africa

11.4.6.1. Market Revenue and Volume Forecast, by January (2021-2033)

11.4.6.2. Market Revenue and Volume Forecast, by Operating Pressure (2021-2033)

11.4.6.3. Market Revenue and Volume Forecast, by End-User (2021-2033)

11.4.7. Rest of MEA

11.4.7.1. Market Revenue and Volume Forecast, by January (2021-2033)

11.4.7.2. Market Revenue and Volume Forecast, by Operating Pressure (2021-2033)

11.4.7.3. Market Revenue and Volume Forecast, by End-User (2021-2033)

11.5. Latin America

11.5.1. Market Revenue and Volume Forecast, by January (2021-2033)

11.5.2. Market Revenue and Volume Forecast, by Operating Pressure (2021-2033)

11.5.3. Market Revenue and Volume Forecast, by End-User (2021-2033)

11.5.4. Brazil

11.5.4.1. Market Revenue and Volume Forecast, by January (2021-2033)

11.5.4.2. Market Revenue and Volume Forecast, by Operating Pressure (2021-2033)

11.5.4.3. Market Revenue and Volume Forecast, by End-User (2021-2033)

11.5.5. Rest of LATAM

11.5.5.1. Market Revenue and Volume Forecast, by January (2021-2033)

11.5.5.2. Market Revenue and Volume Forecast, by Operating Pressure (2021-2033)

11.5.5.3. Market Revenue and Volume Forecast, by End-User (2021-2033)

Chapter 12. Company Profiles

12.1. Bosch Rexroth AG

12.1.1. Company Overview

12.1.2. Product Offerings

12.1.3. Financial Performance

12.1.4. Recent Initiatives

12.2. Bucher Hydraulics GmbH

12.2.1. Company Overview

12.2.2. Product Offerings

12.2.3. Financial Performance

12.2.4. Recent Initiatives

12.3. CASAPPA S.p.A.

12.3.1. Company Overview

12.3.2. Product Offerings

12.3.3. Financial Performance

12.3.4. Recent Initiatives

12.4. Daikin Industries, Ltd.

12.4.1. Company Overview

12.4.2. Product Offerings

12.4.3. Financial Performance

12.4.4. Recent Initiatives

12.5. Danfoss

12.5.1. Company Overview

12.5.2. Product Offerings

12.5.3. Financial Performance

12.5.4. Recent Initiatives

12.6. Eaton Corporation plc

12.6.1. Company Overview

12.6.2. Product Offerings

12.6.3. Financial Performance

12.6.4. Recent Initiatives

12.7. Kawasaki Heavy Industries, Ltd.

12.7.1. Company Overview

12.7.2. Product Offerings

12.7.3. Financial Performance

12.7.4. Recent Initiatives

12.8. KYB Corporation

12.8.1. Company Overview

12.8.2. Product Offerings

12.8.3. Financial Performance

12.8.4. Recent Initiatives

12.9. Parker-Hannifin Corporation

12.9.1. Company Overview

12.9.2. Product Offerings

12.9.3. Financial Performance

12.9.4. Recent Initiatives

12.10. Viking Group, Inc.

12.10.1. Company Overview

12.10.2. Product Offerings

12.10.3. Financial Performance

12.10.4. Recent Initiatives

Chapter 13. Research Methodology

13.1. Primary Research

13.2. Secondary Research

13.3. Assumptions

Chapter 14. Appendix

14.1. About Us

14.2. Glossary of Terms

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