Electric Hydraulic Pumps Market Size, Share, Growth, and Industry Analysis, By Type (Piston and Positive-Displacement), By Application (Aerospace, Metallurgical, Engineering Vehicle, and Others), and Regional Forecast to 2031

Updated On: 22 April 2024

Electric Hydraulic Pumps Market Report Overview

• 

• Request a Free Sample to learn more about this report

The global  electric hydraulic pumps market  size is expanded rapidly in 2022 and market is expected to generate substantial revenue by 2031, exhibiting a high compound annual growth rate (CAGR) from 2022 to 2031.

An electric hydraulic pump is a type of pump that is powered by an electric motor. It is commonly used in applications where a hydraulic system needs to generate high pressure and flow rates, such as in heavy machinery, construction equipment, and manufacturing processes.

Electric hydraulic pumps are often preferred over other sorts of hydraulic pumps, such as those powered by internal combustion engines or air compressors, because they are quieter, more efficient, and require less maintenance. Therefore, the market is predicted to inflate over the forecast period due to rising demand for piston type of products which is more prevalent in the market with growing demand from the end-use industries such as oil, gas, construction, and power generation. In addition, engineering vehicles is the largest segment in the market attributed to the highest demand for the product across several sectors including aerospace, automobile, and defense.

COVID-19 Impact: Pandemic Decreases Demand for Heavy Machinery and Construction Equipment

The COVID-19 pandemic has caused some challenges for the electric hydraulic pumps market. During the initial phase of the pandemic in 2020, the electric hydraulic pumps market faced a decline in demand as many manufacturing facilities and construction sites were shut down to prevent the spread of the virus. This led to a decrease in the demand for heavy machinery and construction equipment which are the main users of the electric hydraulic pumps. However, from the year 2021-22, the market has been recovering from the effects of the pandemic and will continue to grow gradually in the coming years

Latest Trends

"Growing Trend of Adoption of Innovative Technological Equipment Create Market Possibility"

The electric hydraulic pumps market is constantly evolving as manufacturers strive to meet the changing needs of their customers and incorporate new technologies to improve the efficiency and performance of their products. Further, several electric hydraulic pump manufacturers have launched new products in recent years to meet the evolving needs of their customers. For example, some manufacturers have developed compact electric hydraulic pumps that can be easily integrated into smaller equipment and machinery. Likewise, in July 2022 the German company Bungartz introduced a rotary piston pump at ACHEMA. Due to its design, the pump reduces maintenance costs by transferring torque to pistons through magnets. It is suitable for pumping toxic, corrosive, or viscous liquids, among other applications.

Electric Hydraulic Pumps Market Segmentation

• 

• Request a Free Sample to learn more about this report

• By Type Analysis

According to type, the market can be bifurcated into Piston and Positive-Displacement

• By Application Analysis

Based on application, the market can be divided into Aerospace, Metallurgical, Engineering Vehicle, and Others.

Driving Factors

"Rising Demand for Heavy Machinery and Construction Equipment Lift the Market Growth"

The market is continuously evolving over the last few years with increasing demand for heavy machinery and construction equipment. Since electric hydraulic pumps are widely used in heavy machinery and construction equipment, the growing demand for these industries is driving the demand for electric hydraulic pumps. Similarly, this is driven by factors such as increasing infrastructure development, urbanization, and industrialization.

"Rapid Advancement in Technology Accelerate the Growth of the Market"

The market is also driven by advancements in technology. As, electric hydraulic pump market is constantly evolving, with manufacturers incorporating new technologies to improve the efficiency and performance of their products. The development of new materials, control systems, and sensors is driving the demand for electric hydraulic pumps that incorporate these technologies which are anticipated to boost the electric hydraulic pumps market growth during the projection period.

Restraining Factors

"High Initial Costs & Maintenance Can Confine the Market Growth"

Electric hydraulic pumps can have higher initial costs compared to other types of hydraulic pumps, such as those powered by internal combustion engines or air compressors. This can be a barrier to entry for some customers and can restrain the growth of the market. Electric hydraulic pumps require regular maintenance, including monitoring the hydraulic fluid levels and changing the filters which can be time-consuming and expensive and can be a restraining factor for some customers.

Electric Hydraulic Pumps Market Regional Insights

• 

• Request a Free Sample to learn more about this report

"North America leads the market with a wide range of industries in the region"

According to a market review, North America is dominating the market for electric hydraulic pumps due to a high rate of product utilization in the region. Also, the existence of extensive automation, transportation, construction, defense, and aerospace industries requires electric hydraulic pumps are likely to contribute to the growth of the regional market. Furthermore, The U.S. majorly contributes to the growth of this market. Additionally, the region is account for the largest electric hydraulic pumps market share.

Key Industry Players

"Key Companies Focus on Product Portfolios & Distribution Networks to Maintain a Competitive Edge"

The successful key players are leading the market as they have the experience, expertise, innovation, product portfolios, and strong distribution networks. Also, their brand recognition which is acknowledged to meet the needs of their customers supports them to stay ahead in the competition. The major product manufacturers are generating the highest revenue from their profit margins. Some of the prominent players such as Jabsco, ALFRA, Atlas Copco, BEGA SPECIAL TOOLS, ENERPAC, HYTORC, Kirloskar, and others influence the market with their production rate, supply chain, and market share value.

List of Market Players Profiled

• Jabsco
• ALFRA
• Atlas Copco
• BEGA SPECIAL TOOLS
• ENERPAC
• HYTORC
• Kirloskar

Report Coverage

This report defines the electric hydraulic pumps market. It emphasizes the market value, expected CAGR, and USD value over the forecast period, before and after the impact of the COVID-19 pandemic restrictions on the international market, and how the industry is going to turn the corner is also stated in the report. The report provides significant market data with its product type and product applications, end-use details, and an idea of the market growth in the future. This report also provides an understanding of the growing market trends and developments and their effects on the market growth, driving factors along with restraining factors that impact the market dynamics. Along with this, the leading region, key players of the market, and their tactics to beat the market competition, sustainable policies, their collaboration, mergers, companies’ profile, previous years’ revenue, profit & loss, and market position based on their share value in the market, are also explained in the report.