Gear Pump Market To Witness Demand Owing To Growing Application Scope In Automotive, Construction And Agriculture Industry Till 2023 | Million Insights

December 20 07:46 2019
Gear Pump Market To Witness Demand Owing To Growing Application Scope In Automotive, Construction And Agriculture Industry Till 2023 | Million Insights

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According to new report available with Million Insights, Gear pumps are the positive displacement pumps that transfer fluid or liquid by gears. It comprises two or more internal gears which produces vacuum pressure for transferring fluid to the pump.

Global Gear Pump Market is estimated to grow considerably in the forecast period owing to the growth of construction sector. Gear pumps are the positive displacement pumps that transfer fluid or liquid by gears. It comprises two or more internal gears which produces vacuum pressure for transferring fluid to the pump. It comes in small sizes to offer stable fluid flow in comparison to other pumps, such as diaphragm and peristaltic pumps. Gear pumps are the self-priming pumps that potentially pump high viscosity fluids. They are user-friendly by nature due to ease of handling and maintenance.

The major driving factors of gear pump market include growing application scope in automotive, construction, and agriculture industry, increased application in construction industry, high demand from material handling sector, and technological advancements. Several technological advancements like improvement of double gear with least number of components and axial gauge that are decreasing the production cost while improving reliability. Moreover, in comparison to other alternatives like mechanical pumps, gear pumps offers benefits, such as more accurate and stable temperature, upgraded engine fuel efficiency, reduced noise and emissions. However, significant cost of gear pumps is hampering the gear pump market.

Full Research Report On Global Gear Pump Market Analysis available at: https://www.millioninsights.com/industry-reports/gear-pump-market-outlook

Increase in adoption of microbial Enhanced Oil Recovery (EOR), thermal injection, and CO2 injection techniques for meeting the growing demand is an emerging trend in the market. Growing popularity and adoption of fire-resistant hydraulic fluids is another trend in the market. To overcome the drawbacks of energy sources, manufacturers are focusing on using reliable and efficient liquids. Nevertheless, low product penetration in developing economies like India and China is an opportunity for the market.

Gear pump market is categorized on the basis of product type, application, end user, and geography. On the basis of product type, market is divided into internal gear pumps and external gear pumps. External gear pumps are expected to grow considerably in the coming years due to growing applications as lubrication pumps in machines and fluid power transfer units and as oil pumps in engine. On the basis of application, the market is divided into agricultural machinery, earth moving equipment, construction equipment, material handling, and others.

In terms of end user, gear pumps market is bifurcated into food & beverages, chemicals, automotive, oil & gas, construction, agriculture, pulp & paper, and others. Oil and gas segment is anticipated to lead the market in future due to high demand for oil. To meet this growing demand, organizations are increasingly emphasizing on adopting various techniques like thermal injection.

Geographically, gear pump industry is segmented as North America, South America, Europe, Asia Pacific, and Middle East & Africa. Europe is projected to dominate the market due to increase in demand for cost-efficient solutions, quality products, and increase in government initiatives for reducing energy consumption.

The major players in the gear pump market are Atos, Eaton, Bosch Rexroth, Permco Gear Pumps, Kawasaki Heavy Industries, Bailey International, DANTAL HYDRAULICS, Parker Hannifin, Commercial Shearing, ROPER PUMP COMPANY, Danfoss, and Hayward Tyler Group.

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Market Segment:

Report contents include

• Analysis of the gear pump market including revenues, future growth, market outlook

• Historical data and forecast

• Regional analysis including growth estimates

• Analyzes the end user markets including growth estimates.

• Profiles on gear pump including products, sales/revenues, and market position

• Market structure, market drivers and restraints.

Key regions

• North America

• Europe

• Asia Pacific

• Middle East and Africa

• South America

Key Vendors

• request free sample to get a complete list of companies

Related Reports of this Category available at Million Insights: https://www.millioninsights.com/industry/machinery-and-machine-parts

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