Knowledge Sourcing Intelligence announces the publication of a new analysis report on the market the “Global Gear Pumps Market – which is forecasted from 2023 to 2028”.
The prime factor driving the Global Gear Pumps Market growth is expanding industrial expansion and manufacturing activities.
The global gear pump market is expected to grow at a CAGR of 4.53% from US$1,075.018 million in 2021 to US$1,465.749 million in 2028.
The global gear pumps market is a dynamic and important component of many industrial industries, providing accurate and efficient fluid transfer solutions. Gear pumps are frequently utilised in sectors like as manufacturing, automotive, and oil and gas because of their dependability and adaptability. The requirement for sturdy and high-performance pumping systems drives this industry. As businesses expand, the gear pumps market becomes increasingly important in guaranteeing the smooth and efficient circulation of fluids inside various processes. The global gear pumps market is expected to expand significantly due to the convergence of numerous major factors driving demand and adoption. Here’s a more detailed description of what these growth factors are. The global expansion of manufacturing sectors drives up demand for gear pumps, which are essential for fluid transmission and lubrication in a variety of industrial processes. The continual growth of the automobile industry, including the development of electric cars and complex transmissions, necessitates the use of gear pumps for lubrication, cooling, and fuel injection systems.
The global market for gear pumps used in heavy machinery and construction equipment is being driven by ongoing infrastructure development, including building and mining projects. Gear pumps are essential in the energy sector for effective fluid handling in oil rigs, refineries, and pipelines, especially as exploration and production operations rise. Continuous innovation in gear pump technology drives market expansion by resulting in more efficient and dependable pumps. Because the chemical and process industries require accurate and dependable fluid management, the demand for gear pumps in chemical manufacture and processing is increasing. Gear pumps are an essential component of hydraulic systems found in a wide range of applications, including construction machinery and material handling equipment. Emerging economies and more globalisation have resulted in increased industry, which has created new prospects for gear pump makers. In conclusion, the global gear pumps market is expanding due to its critical position in a broad range of sectors and applications, as well as continued technical developments and the increase of industrial activity globally. Because of these considerations, gear pumps are an essential component of the machinery and systems that power our contemporary world.
The global gear pumps market has been categorized based on type, application, end-user, and geography. The market has been segmented based on type into external gear pump, and internal gear pump. Application is further classified into oil & fuel, paints & ink, chemical, solvents & adhesives and others.
By region, the Asia-Pacific region has emerged as the market leader in the global gear pumps market. This supremacy can be attributable to a number of variables, including The growing industrialization of the area, notably in China and India, increases the need for gear pumps in various production processes. The automobile sector is centred in Asia-Pacific, and gear pumps are widely utilised for lubrication and fuel transfer applications. Due to the region’s enormous agricultural environment, gear pumps are widely used in the agriculture industry for operations such as pesticide and fertiliser spraying. The energy and oil and gas industries, both of which are expanding in the region, rely on gear pumps for fluid transfer and lubricating operations. As Asia-Pacific’s industries continue to expand, the region’s gear pumps market is positioned for continuous expansion.
As a part of the report, the key companies operating in the global gear pumps market that have been covered are Del Pd Pumps & Gears Pvt., Gear Pump Manufacturing LLC, KRACHT GmbH, MAAG Group, Northern Pump, Rickmeier GmbH, Teral Inc., Tuthill Pumps, Verder Group, Viking Pump (IDEX Corporation).
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/global-gear-pumps-market
This analytics report segments the global cosmeceutical market on the following basis
- By Type
- Internal Gear Pump
- External Gear Pump
- By Application
- Oil & Fuel
- Paints & Ink
- Solvents & Adhesives
- By End User
- Oil & Gas
- Pulp & Paper
- Food & Beverage
- By Geography
- North America
- South America
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America