- The key vendors in the Global Hydraulic Pumps Market 2015-2019 are Bosch Rexroth Corp., Danfoss Power Solutions Pvt. Ltd., Eaton Corporation Plc and Parker Hannifin Corp.
London, 25 March 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the Global Hydraulic Pumps Market 2015-2019. High demand for fire-resistant hydraulic fluids is one of the key trends emerging in the market. Hydraulic equipment operating under extreme heat conditions may suffer from oil leakage, resulting in fire risks. Hence, vendors are now developing equipment that uses fire-resistant fluids. The Global Hydraulic Pumps market is expected to grow steadily at a CAGR of 5.07% during the period 2015-2019.
Augmented demand for gear pumps and plunger pumps from the mining, agriculture, oil and gas, and automotive industries drives the global market. The budding construction industry in developing countries is a significant factor because hydraulic pumps are used to operate equipment such as cranes and forklifts, which are essentially used in the Construction industry.
“Vendors are working to boost their equipment’s energy efficiency and productivity. This will expand the overall capabilities of hydraulic pumps,” says Faisal Ghaus, Vice President of Technavio Research.
“Key vendors such as Bosch Rexroth and Eaton have come up with a broad range of hydraulic technologies that are being incorporated into cranes, loaders, excavators, and other hydraulic equipment.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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