At 4.0% CAGR, North America Hydraulic Pumps Market is Projected to be Worth US$ 4,369.10 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the North America hydraulic pumps market was valued at US$ 3,201.12 million in 2022 and is expected to reach US$ 4,369.10 million by 2030, registering a CAGR of 4.0% from 2022 to 2030. Increasing mining projects and growing wastewater treatment projects are among the critical factors attributed to drive the North America hydraulic pumps market growth.

Municipal wastewater treatment operations are continuously evolving to replace and upgrade aging infrastructure. Countries across the globe, such as the US, India, South Africa, and China, are sustainably investing in wastewater treatment activities, which is expected to create opportunities in the market. Piston pumps are widely used in wastewater treatment plants. These pumps move liquids through a cylinder or hose and then transfer high-viscosity liquids, such as pastes or sludges. The pump allows consistent collection and separation of solid waste from liquid. It effectively removes large debris and sediments throughout the wastewater treatment cycle, which is expected to increase its adoption in the near future. Growing number of wastewater treatment projects and increasing investment in wastewater treatment plants are expected to boost the global hydraulic pumps market growth during the forecast period. For instance, Walnut Creek WWTP Expansion to 100 MGD - The City of Austin Water, Texas, manages the Walnut Creek Wastewater Treatment Plant (WWTP). The US government has expanded plant capacity to 100 million gallons per day (MGD) to serve over 1 million customers daily. This project received an investment of more than US$ 284 million in the first quarter of 2023 to increase the volume and effectiveness of wastewater treatment.

On the contrary, high cost and complexities associated with hydraulic pumps hamper the growth of North America hydraulic pumps market.

Based on type, the North America hydraulic pumps market is segmented into gear pump, piston pump, and vane pump. The gear pump segment held 49.6% market share in 2022, amassing US$ 1,588.44 million. It is projected to garner US$ 2,310.46 million by 2030 to register 4.8% CAGR during 2022-2030.

In terms of application, the North America hydraulic pumps market is segmented into construction, commercial vehicles, agriculture vehicles, aerospace, and others. The construction segment held 30.5% share of North America hydraulic pumps market in 2022, amassing US$ 976.76 million. It is anticipated to garner US$ 1,515.24 million by 2030 to expand at 5.6% CAGR during 2022-2030.

Based on country, the North America hydraulic pumps market is categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 76.5% share of North America hydraulic pumps market in 2022. It was assessed at US$ 2,449.18 million in 2022 and is likely to hit US$ 3,394.68 million by 2030, registering a CAGR of 4.2% during 2022-2030.

Key players operating in the North America hydraulic pumps market are Bosch Rexroth Ltd, Danfoss LLC, Linde Hydraulics GmbH & Co KG, HYDAC International GmbH, Parker Hannifin Corp, Kawasaki Heavy Industries Ltd, Daikin Industries Ltd, Bucher Hydraulics GmbH, and HAWE North America Inc, among others.

• In 2023, Parker Aerospace, a business segment of Parker Hannifin Corporation, announced an agreement with the US Army for a five-year contract providing overhaul and upgrade to the UH-60 Blackhawk hydraulic pump and flight control actuation.
  
  
• In 2023, HAWE Hydraulik expanded its presence in Canada and made management changes. HAWE Hydraulik has expanded its global presence with its own subsidiary in Mississauga, Ontario. As of July 1st, the 100% subsidiary HAWE Hydraulik Canada Inc. is focused on compact power units assembled as system solutions. This move is in line with the HAWE Hydraulik SE's strategy to focus more strongly on the North American market, thus consistently pursuing its three-continent sales strategy.
  
  

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