Gear Pump Market is set to grow through mechanization

The global gear pump market size is estimated to grow by USD 470.3 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  4.5%  during the forecast period. Mechanization of agriculture and growth of the agriculture machinery industry is driving market growth, with a trend towards rising investments in chemical manufacturing facilities in emerging economies. However, the contraction in the mining industry in China poses a challenge. Key market players include A and S Hydraulic Co. Ltd., Avingtrans plc, Bailey International LLC, Bucher Industries AG, CASAPPA SpA, Daikin Industries Ltd., Danfoss AS, Dover Corp., Eaton Corp. Plc, Flowserve Corp., Hudaco Industries Ltd., IDEX Corp., Kawasaki Heavy Industries Ltd., KSB SE and Co. KGaA, KYB Corp., Linde Hydraulics GmbH and Co. KG, Parker Hannifin Corp., Permco Inc., Robert Bosch GmbH, and Roper Pump Co..

The Gear Pumps market encompasses the production, sales, and installation of gear pumps used in various industries for transporting fluids, including oils, fuels, and chemicals. These pumps are widely used in the construction sector for applications such as concrete mixing and water management in infrastructure projects. However, the noise generated by these pumps can be a significant challenge, particularly in residential areas. In the petrochemical industry, gear pumps are employed in the production of chlor alkali, ethylene dichloride, PVC, sodium silicate, mixed chemicals, acids, polymers, isocyanates, and other chemicals. The automotive sector and household goods manufacturing also rely heavily on gear pumps for automotive fuel systems and various applications.

The pandemic restrictions have impacted industrial activity, leading to a decline in demand for gear pumps in the petrochemical projects, interstate crude pipeline, and chemical production sectors. However, the market is expected to recover as these industries resume operations. Gear pumps are also used in the mining sector, particularly in the Porcupine Mine, for transporting bitumen and other viscous fluids. The agricultural machinery sector uses gear pumps for irrigation and other applications. Energy efficiency and environmental sustainability are driving the demand for energy-efficient solutions in the gear pump market. Smart manufacturing practices, Industry 4.0, and automation are also gaining popularity in the industrial pump industry.

Customized solutions are increasingly in demand as gear pump manufacturers cater to the specific needs of various industries. Water scarcity and environmental pollution are also significant challenges, leading to the development of more efficient and eco-friendly gear pumps. External and internal gear pumps, as well as hydraulic gear pumps, are used in various applications, including water treatment activities, wastewater treatment plants, and construction equipment. The market for gear pumps is expected to grow significantly in the coming years due to the increasing demand for pump solutions in various industries..