Europe Hydraulic Pumps Market
No. of Pages: 79 | Report Code: BMIRE00030407 | Category: Manufacturing and Construction
No. of Pages: 79 | Report Code: BMIRE00030407 | Category: Manufacturing and Construction
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; it is estimated to register a CAGR of 3.4% from 2022 to 2030. Growing Demand from Automotive Industry Drives Europe Hydraulic Pumps Market
Hydraulic pumps are highly used in industries such as aerospace, construction, agriculture, and automotive for lifting heavy loads. The expansion of these industries is creating a demand for hydraulic pumps among users. The automotive industry extensively uses hydraulic pumps in numerous applications, such as brakes, power steering, and transmission systems. Hydraulic pumps are used to make easier and comfortable for the driver to steer when driving. Hydraulic pumps are widely used in automobiles for energy production and vehicle propulsion. The market is growing due to the recent trend of electric vehicles (EVs) and the increasing use of robots in automotive manufacturing. For instance, according to the International Energy Agency (IEA), electric vehicle sales increased by 10 million in 2022. Approximately 14% of all new cars sold across the globe were electric. The increasing sales of electric cars globally raise the adoption of hydraulic pumps among automotive manufacturers. Hydraulic pumps are used in advanced braking systems in electric vehicles. Hydraulically operated brakes can deploy quickly and are much more responsive than electric brakes, which increases their adoption among consumers.
Hydraulic pumps are demanded by automotive users to provide rapid response needed when the brake pedal is depressed and slowing down the vehicles speed. The pumps also support the driver to regulate the ABS and power steering systems. Hydraulic pumps improve vehicles' performance, range, and overall energy usage, enabling faster response times and better power distribution by reducing the load on the battery, which increases their demand among consumers.Europe Hydraulic Pumps Market Overview
Europe is a technologically advanced region, owing to the high demand for advanced technologies in countries such as Germany, the UK, France, Italy, Spain, and Russia. Germany is the major automotive hub owing to the presence of various automotive giants. This increases the demand for hydraulic pumps in the automotive industry. For instance, Parker Hannifin Corp provides a full line of Electro-Hydraulic Pump (EHP) kits used in hybrid electric and other electric mobile applications. EHP kits provide real-time speed/torque commands, control, operation, and diagnostic monitoring through the inverter's discrete I/O or CANopen interface. The increasing sales of electric vehicles is expected to create growth opportunities in the hydraulic pumps market. For instance, according to the European Automobile Manufacturers Association (ACEA), in July 2023, Europe sold 62% of electric vehicles. The growing sale of electric vehicles increases the adoption of hydraulic pumps among automotive manufacturers. Hydraulic pumps are required for precise movements in electric and hybrid vehicles, which fuels the market growth.
Europe Hydraulic Pumps Market Revenue and Forecast to 2030 (US$ Million)
Strategic insights for the Europe Hydraulic Pumps provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market. The geographic scope of the Europe Hydraulic Pumps refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
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Get more information on this report Europe Hydraulic Pumps Report Scope
Report Attribute
Details
Market size in 2022
US$ 2,210.89 Million
Market Size by 2030
US$ 2,898.72 Million
Global CAGR (2022 - 2030)
3.4%
Historical Data
2020-2021
Forecast period
2023-2030
Segments Covered
By Type
By Application
Regions and Countries Covered
Europe
Market leaders and key company profiles
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Europe Hydraulic Pumps Market Segmentation
The Europe hydraulic pumps market is categorized into type, application, and country.
Based on type, the Europe hydraulic pumps market is segmented into gear pump, piston pump, and vane pump. The gear pump segment held the largest Europe hydraulic pumps market share in 2022.
In terms of application, the Europe hydraulic pumps market is segmented into construction, commercial vehicles, agriculture vehicles, aerospace, and others. The construction segment held the largest Europe hydraulic pumps market share in 2022.
By country, the Europe hydraulic pumps market is segmented into Germany, France, the UK, Russia, Italy, and the Rest of Europe. Germany dominated the Europe hydraulic pumps market share in 2022.
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 are some of the leading companies operating in the Europe hydraulic pumps market.
1. Bosch Rexroth Ltd
2. Danfoss LLC
3. Linde Hydraulics GmbH & Co KG
4. Dynamatic Technologies Ltd
5. HYDAC International GmbH
6. Parker Hannifin Corp
7. Kawasaki Heavy Industries Ltd
8. Daikin Industries Ltd
9. Bucher Hydraulics GmbH
The Europe Hydraulic Pumps Market is valued at US$ 2,210.89 Million in 2022, it is projected to reach US$ 2,898.72 Million by 2030.
As per our report Europe Hydraulic Pumps Market, the market size is valued at US$ 2,210.89 Million in 2022, projecting it to reach US$ 2,898.72 Million by 2030. This translates to a CAGR of approximately 3.4% during the forecast period.
The Europe Hydraulic Pumps Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Hydraulic Pumps Market report:
The Europe Hydraulic Pumps Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Hydraulic Pumps Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Hydraulic Pumps Market value chain can benefit from the information contained in a comprehensive market report.
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