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The gear pump market size is projected to reach US$ 15.4 billion by 2031 from US$ 11.22 billion in 2024. The market is expected to register a CAGR of 4.9% during 2025-2031. Rising demand for energy-efficient solutions is likely to bring new key trends in the market in the coming years.
Gear Pump Market Analysis
The demand for gear pumps is increasing in various industries worldwide as they are highly efficient in transferring fluids, offering consistent flow and pressure with minimal slippage. The chemical and petrochemical industries are experiencing tremendous growth worldwide; these industries are prominent end users of gear pumps. Furthermore, to provide an enhanced product portfolio and to expand their presence, manufacturers continuously focus on inorganic growth strategies such as mergers and acquisitions, which are expected to create growth opportunities for them in the coming years. Also, a surge in oil and gas exploration activities worldwide is expected to fuel the market growth in the coming years. Moreover, technological advancements in gear pumps to enhance their efficiency, reliability, and adaptability to be able to meet the changing demands of various industries would further propel the growth of the gear pump market in the near future.
Gear Pump Market Overview
A gear pump is a positive displacement pump that moves fluids through interlocking gears. Unlike centrifugal pumps, which generate flow by rotating an impeller, gear pumps aid the flow by trapping fluid between the teeth of rotating gears and the pump casing. This mechanism offers a continuous and exact flow rate, rendering the suitability of gear pumps in a variety of applications. There are two types of gear pumps: exterior and internal. Although both types are designed to manage differing fluid viscosities and working conditions, they operate on the same basic concept. Gear pumps have various features that make them a popular choice for many industrial applications. They provide a consistent and precise flow rate, which is particularly essential in applications that require accurate fluid delivery. They can also function at high pressure, making them ideal for tough tasks. Gear pumps can handle an array of fluids, from low-viscosity solvents to high-viscosity oils and adhesives, and their durable design provides long-term performance even in severe settings. Furthermore, their basic design results in a lower possibility of parts wear-off and easier maintenance.
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Gear Pump Market: Strategic Insights
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Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Gear Pump Market: Strategic Insights
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Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
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Gear Pump Market Drivers and Opportunities
Rising Demand for Energy-Efficient Solutions
Gear pumps are critical in numerous industrial and mechanical applications. These pumps use interlocking gears to transport fluids throughout a system. Gear pumps are noted for their dependability, efficiency, and ability to handle a broad variety of fluids, including high-viscosity substances. Their volumetric efficiencies often surpass 90%, which remains consistent throughout a wide range of viscosity values. Nonetheless, they excel at managing both thin and thick liquids. Thin liquid gear pumps perform well with water-like fluids.
Rising Demand in Oil and Gas Industry
As global energy demands rise, oil and gas exploration and production activities are increasing significantly across the world. According to the IEA Oil Market Report (OMR) published in 2024, the global oil demand is set to surge from 840 kb/d in 2024 to 1.1 mb/d in 2025, further propelling the consumption to 103.9 mb/d in 2025. Refinery throughputs will hit an annual peak of 84.3 mb/d in December 2025, roughly 3 mb/d higher than that in October, when maintenance and economic run cuts constrained activity. Crude runs will average 82.7 mb/d in 2024 and 83.3 mb/d in 2025, an increase of 520 and 620 kb/d, respectively. Thus, the flourishing oil and gas industry is expected to propel the demand for gear pumps, thereby creating lucrative opportunities for the market in the coming years.
Gear Pump Market Report Segmentation Analysis
Key segments that contributed to the derivation of the gear pump market analysis are solution, material, and industry.
- Based on type, the gear pump market is bifurcated into internal gear pumps and external gear pumps. The external gear pump segment held a larger share of the market in 2024.
- Based on pressure range, the gear pump market is segmented into up to 100 bar, 100–300 bar, and above 300 bar. The 100–300 Bar segment held the largest share of the market in 2024.
- Based on end-use industry, the gear pump market is segmented into food and beverage, industrial and material handling machines, chemical and petrochemical, oil and gas, automotive, water treatment, aerospace, and others. The industrial and material handling machines segment held the largest share of the market in 2024.
Gear Pump Market Share Analysis
The geographical scope of the gear pump market report offers a detailed global analysis. North America, Europe, and Asia Pacific are major regions witnessing significant growth in the gear pump market.
North America witnessed tremendous growth in electric vehicle sales in 2023. According to the International Energy Agency’s (IEA) annual Global EV Outlook 2024, new electric car registrations in the US reached 1.4 million in 2023, accounting for a rise of more than 40% compared to 2022. In addition, the region is witnessing tremendous growth in its natural gas industry. According to the IEA, the domestic natural gas production in North America in 2022 was 44,377,518 TJ, out of which the US and Canada accounted for 80.6% and 16.2%, respectively. Also, domestic natural gas production witnessed a growth trend of 69% from 2000 to 2022. Thus, the growth in the automotive and natural gas industry bolsters the gear pump market in North America.
Europe is witnessing tremendous growth in the oil and gas industry. According to the IEA, Europe's domestic crude oil production was 24% of the total crude oil supply in 2022. Also, the total crude oil production in Europe in 2022 was 6,700,159 TJ. According to the European Commission, in 2022, the EU's total crude oil imports were 479.6 Mt. In addition, the water and wastewater industry is gaining traction at a fast pace in the region. In March 2023, with the Urban Water Catalyst Initiative, Germany launched the first global initiative to mobilize public and private investment for climate-resilient urban water utilities in the Global South. The initiative was launched with support from the Netherlands. The aim is to provide city dwellers in the growing cities of the Global South with access to safe drinking water and sanitation. Thus, the flourishing oil & gas and water & wastewater industries are expected to fuel the gear pump market growth in Europe in the coming years.
Asia Pacific is expected to record the highest CAGR in the gear pump market during the forecast period. The automotive industry is witnessing tremendous growth in this region. According to the data by the China Association of Automobile Manufacturers (CAAM), in 2023, China recorded an upsurge of 22% in the sales of its commercial vehicles, including exports, growing from 3.30 million units in 2022 to 4.03 million units in 2023. As per the Japan Automobile Dealers Association and the Japan Light Motor Vehicle and Motorcycle Association, 4.78 million new cars were sold in Japan in 2023, recording a rise of 13.8% year-on-year.
Companies in the MEA are continuously working on expanding their production plants. For instance, in July 2024, Saudi Aramco announced that they had made seven new oil and gas discoveries in Saudi Arabia's Eastern Province and Empty Quarter. The discoveries include two unconventional oil fields, one light Arabian oil reservoir, two natural gas fields, and two natural gas reservoirs. Furthermore, SAM is witnessing growth in its vehicle production.
Gear Pump Market Report Scope
Gear Pump Market News and Recent Developments
The gear pump market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the gear pump market are listed below:
- Shimadzu Corporation has launched an environment-friendly high-pressure gear pump, the MLP2 Series, as the next generation of the SGP2 Series. This new pump has succeeded in increasing the rated pressure from 24.5 MPa to 25 MPa and the maximum surge pressure from 29.4 MPa to 30 MPa, while eliminating the plating process of the cast iron body used in the SGP2 series to improve durability. (Source: Shimadzu Corporation, Press Release, June 2024)
- Marzocchi Pompe S.p.A announced that it has taken another step in its strategic plan to enlarge its complex in Zola Predosa, finalizing the purchase of a new 2,500 sq. m. real estate of which 1,000 is covered, located in Via Calari 9, adjacent to the one currently in use (located in Via Grazia 2), for € 1,050,000 and located in the same industrial complex where the company had acquired two other properties in October 2022 and July 2023. (Source: Marzocchi Pompe S.p.A, Press Release, March 2024)
Gear Pump Market Report Coverage and Deliverables
The "Gear Pump Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:
- Gear pump market size and forecast at country levels for all the key market segments covered under the scope
- Gear pump market trends, as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST and SWOT analysis
- Gear pump market analysis covering key market trends, country framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the gear pump market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The gear pump market is expected to reach US$ 15.40 billion in the year 2031.
The key players, holding majority shares, in gear pump market includes Bosch Rexroth AG, Danfoss AS, Parker Hannifin Corp., Eaton Corp Plc, and Viking Pump Inc.
The North America held the largest market share in 2024, followed by Europe.
The gear pump market was valued at US$ 11.22 billion in 2024 and is projected to reach US$ 15.40 billion by 2031; it is expected to grow at a CAGR of 4.9% during 2025–2031.
Integration of smart technology, modular designs, and advanced sustainable technologies are the future trends of the gear pump market.
Rising demand for energy-efficient solutions, and surging demand in petrochemical industry are the driving factors impacting the gear pump market.
The List of Companies - Gear Pump Market
- Jihostroj a.s.
- Bosch Rexroth AG
- Danfoss AS
- Bucher Hydraulics GmbH
- Parker Hannifin Corp
- Kawasaki Heavy Industries Ltd
- CASAPPA S.p.A.
- Bailey International LLC
- HYDAC International GmbH
- Eaton Corp Plc
- Marzocchi Pompe S.p.A.
- KYB Corporation
- Viking Pump, Inc.
- Gorman-Rupp Pumps
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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