HVAC and Construction Industry Hydraulic Pump Market Overview and Trends 2024

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Hydraulic Pumps Market Share, Size, Analysis, Growth, Strategies,
Regional Outlook, Trends and Forecasts to 2024 | Hexa Research
"Hydraulic Pumps Market Size To Reach USD 11,400
Million By 2024."
The global Hydraulic Pumps Market to reach USD 11,400 million by 2024, driven by the rising demand for
mobility and industrial sector. Asia-Pacific was the largest market accounting for over one-third of the market
share in the year 2016 owing to growing agriculture and construction industry in countries such as India and
China. North America and Europe followed the suit, where the regions are expected to grow over the forecast
period.
Availability of fire resistant and wear and corrosion free hydraulic pump along with flourishing industrial and
construction segment are among the key drivers for the hydraulic pumps market. However, resilient
competition from low-cost manufacturers is expected to be among the restraints for hydraulic pumps market
over the forecast period.
In terms of application, mobility segment dominated global market accounting for over half of the market
share in the year 2016. The segment is expected to show promising growth owing to the usage of hydraulic
pumps in mining, agriculture, construction, and earthmoving equipment.Industrial segment is expected to
grow at a CAGR of 5.4% owing to the prevailing demand in industries which involve heavy and repetitive
work.
Browse Details of Report @ https://www.hexaresearch.com/research-report/hydraulic-pump-market
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