The Global Markets for Hydraulic Pumps are Increasing

The Global Markets for Hydraulic Pumps are IncreasingIt is important to stay up to date on hydraulic market trends and emerging technologies. This ensures that you are using the best practices to build, maintain and repair your hydraulic equipment, as well as the most efficient and quality hydraulic components.

Scouring through the latest news, we came across a report detailing the hydraulic pump global market outlook. It’s important to understand how markets are going to shift, as it causes prices, quality and technology to shift as well. By giving you a breakdown of the report, Bernell Hydraulics hopes to keep you informed and up to date on important industry information.

The Global Hydraulic Pump Market is Growing at 3%

This three percent growth is caused by increasing demand from the end-users of hydraulic pumps. The majority of this growth is taking part in North America, the Asia-Pacific areas, and throughout Europe.

The Global Hydraulic Pump Market Will Continue Growing Steadily

The report also details how the market will continue its steady growth. In 2015, the market grossed $8.9 billion. That number rose to $9.3 billion in 2016, and will grow at 3% through 2021. This means that 2021 will see a $10.7 billion market for hydraulic pumps globally. Throughout this growth, the areas of China, Indonesia, Philippines, India, Brazil and Malaysia are expected to increase significantly.

Increased Environmental Regulations is Encouraging Hydraulic Pump Market Growth

As regulations regarding CO2 emissions increase, companies are being forced to develop hydraulic pumps with advanced features. These environmentally friendly hydraulic pumps that decrease energy use and emissions, come at a cost. This is one reason that the market is expected to see increased growth.

Different Types of Hydraulic Pumps See Different Growth Rates

Through the report, hydraulic pumps are separated into three types – piston pumps, vane pumps and gear pumps. Both piston and gear pumps are used in high-pressure environments, while vane pumps are used primarily in low-pressure applications. When it comes to value, piston pumps dominate the market. It regard to volume, gear pumps claim the top spot.

Let Bernell Hydraulics help with you hydraulic component needs

It is important to utilize quality components in your hydraulic systems, and Bernell Hydraulics can help you do just that. However, Bernell Hydraulics is not limited to hydraulic pumps. We also offer full lines of hydraulic components, from valves, brushings and hoses, to motors, instrumentation and rubber products.

If you need hydraulic components, hydraulic equipment preventative maintenance, diagnostics or repair, give Bernell Hydraulics a call. We can be reached at 800-326-7252. We also have four retail stores throughout the Inland Empire of California. Our stores provide customers with top of the line, quality hydraulic components and service to Southern California. Come check us out, you won’t be disappointed!