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Multifarious application in various operations, including excavation, material handling & lifting, and earth moving is likely to spur demand for construction equipment. Also, a renewed focus on infrastructure development remains a key sales influencer of hydraulic gear pumps. In addition, rapid development of commercial spaces as well as residential spaces is estimated to provide the much-needed fillip to sales of hydraulic gear pumps.
Multiple end-user industries rely on hydraulic gear pumps to attain operational efficiency. In case of applications involving highly corrosive and reactive fluids, wherein centrifugal pumps don’t fill the bill, hydraulic gear pumps are witnessing extensive demand.
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However, lower replacement rates and extension of component lifecycle via repair & maintenance are likely to impede the growth of hydraulic gear pump market. New technologies introduced in the hydraulic gear pumps provide immense scope for repairs instead if replacements, creating challenges vis-à-vis demand for new hydraulic gear pumps.
Key manufacturers of hydraulic gear pumps are focusing on long-term supply contracts and launch of new products for solidifying their foothold in the global market space. For instance, Haldex Hydraulics Systems launched a new and exclusive mobile hydraulic gear pump meant for reducing noise levels by up to ten dB(A) or 80% in case of low-speed applications, notably in forklifts and warehouse trucks. The development of this pump was a collaborative effort of the company and the University of Dresden, Germany.
In order to be highly cost competitive, manufacturers are offering hydraulic gear pumps and parts at economical prices. Moreover, manufacturers of hydraulic gear pumps maintain a comprehensive stock holding of spares, which helps them to offer additional value to their customers. Manufacturers are also focusing on offering custom hydraulic pump designs and manufacturing to serve diverse customer requirements.
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