Report : Europe Hydraulic Pumps Market Forecast to 2030 - Regional Analysis - by Type (Gear Pump, Piston Pump, and Vane Pump) and Application (Construction, Commercial Vehicles, Agriculture Vehicles, Aerospace, and Others)
At 3.4% CAGR, Europe Hydraulic Pumps Market is Speculated to be Worth US$ 2,898.72 Million by 2030, says Business Market Insights
According to Business Market Insights' research, the Europe hydraulic pumps market was valued at US$ 2,210.89 million in 2022 and is expected to reach US$ 2,898.72 million by 2030, registering a CAGR of 3.4% from 2022 to 2030. Government Initiatives for Infrastructure Development and growing wastewater treatment projects are among the critical factors attributed to drive the Europe hydraulic pumps market growth.
Governments of several nations are taking initiatives to develop new infrastructure, creating opportunities in the hydraulic pumps market. In October 2023, the European Commission signed a grant agreement of US$ 45.6 million under the Connecting Europe Facility for Transport. The funding helps improve and modernize the transport connections between Moldova and Romania and the trans-European transport network (TEN-T). The investment will also strengthen the EU-Ukraine Solidarity Lanes. Hydraulic pumps are highly used in machinery and equipment, such as bulldozers, loaders, cranes, trucks, and tractors, that are required for constructing roads and bridges. Hydraulic pumps power heavy machinery to perform tasks such as digging, breaking rocks, lifting, and moving materials efficiently. Therefore, rapid urbanization and an increase in government initiatives and funding for infrastructure development are expected to provide growth opportunities for the hydraulic pumps market during the forecast period.
On the contrary, high cost and complexities associated with hydraulic pumps hamper the growth of Europe hydraulic pumps market.
Based on type, the Europe hydraulic pumps market is segmented into gear pump, piston pump, and vane pump. The gear pump segment held 48.2% market share in 2022, amassing US$ 1,066.63 million. It is projected to garner US$ 1,496.50 million by 2030 to register 4.3% CAGR during 2022-2030.
In terms of application, the Europe hydraulic pumps market is segmented into construction, commercial vehicles, agriculture vehicles, aerospace, and others. The construction segment held 40.1% share of Europe hydraulic pumps market in 2022, amassing US$ 886.38 million. It is anticipated to garner US$ 1,214.24 million by 2030 to expand at 4.0% CAGR during 2022-2030.
Based on country, the Europe hydraulic pumps market is categorized into Germany, France, the UK, Russia, Italy, and the Rest of Europe. Our regional analysis states that Germany captured 28.6% share of Europe hydraulic pumps market in 2022. It was assessed at US$ 632.09 million in 2022 and is likely to hit US$ 870.60 million by 2030, registering a CAGR of 4.1% during 2022-2030.
Key players operating in the Europe hydraulic pumps market are Bosch Rexroth Ltd, Danfoss LLC, Linde Hydraulics GmbH & Co KG, Dynamatic Technologies Ltd, HYDAC International GmbH, Parker Hannifin Corp, Kawasaki Heavy Industries Ltd, and Daikin Industries Ltd., among others.
- In 2023, Danfoss Power Solutions has introduced the latest in its H1 series of pumps and motors, the new H1F fixed-displacement bent-axis hydraulic motor. The new motor is designed for both open- and closed-circuit applications in agricultural, construction, and forestry machines.
- In 2022, Linde Hydraulics GmbH & Co. KG is investing US $ 59.13 million in technology at its German sites. The investments will be divided into 50 individual projects and managed in parallel. The investment project is to be completed by 2025.
Contact Us
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email Id: sales@businessmarketinsights.com