Charting the Growth and Innovation Journey of the External Gear Pumps Market to a US$370 Million Horizon by 2034
The global external gear pump market value is expected to rise from US$ 247.6 million in 2024 to US$ 370 million by 2034. The external gear pump demand is expected to rise at a moderate CAGR of 3.9% over the forecast period.
Manufacturers in end-use industries are increasingly investing in external gear pumps, also known as positive displacement pumps. In response, leading players are innovating pumps to manage thin and thick fluids in metering and pumping applications.Market leaders also focus on introducing low-noise features to benefit workers in proximity. For use in the oil and gas industry, manufacturers integrate unique seal designs to avoid leakage and enhance reliability. Similarly, manufacturers are innovating an easy-to-clean external gear pump for use in the food and beverage industry.
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Leading players are elevating the external gear pump’s efficiency and performance with optimized internal structures. Additionally, players are incorporating smart technologies like data analytics and sensors into external gear pumps to increase reliability and performance.“Market competitors are expanding their footprint in Asian countries due to rapid growth in end-use industries. For a competitive edge, players are expected to equip their products with advanced technologies like sensors and data analytics,” –Says Nikhil Kaitwade, Associate Vice President at Future Market Insights, Inc.Key Takeaways from the External Gear Pump Market Report:
Regionally, Europe dominates the external gear pump market by acquiring 23% in 2023. North America follows behind Europe, obtaining a market hold of 19% in 2023.The United States and the United Kingdom external gear pump markets are anticipated to expand at a CAGR of 3.5% through 2034.Germany external gear pump market is anticipated to register a CAGR of 3.3% through 2034.India is estimated to expand at a CAGR of 4.6%, and China is predicted to develop at a 4.4% CAGR through 2034.External gear pump industry in Australia is expected to register a CAGR of 3.6% through 2034.By end use, chemical processing is anticipated to account for a share of 19% in 2023.Two shaft segment is a highly requested external gear pump. FMI analysts have estimated this segment to hold a 29% stake in the global market.
Competitive Strategies Adopted by External Gear Pump Manufacturers:Leading players are gaining a more significant market share by offering innovative or upgraded versions of external gear pumps for varied applications.Players invest in research studies and developmental efforts to materialize advanced external gear pumps. Additionally, market leaders are incorporating Industry 4.0 technologies in their latest product series. Players are expanding their market presence and tying up with local distributors to reach customers across various geographical territories.Key Players Operating in the External Gear Pump Market
Bosch Rexroth AGEatonParker HannifinSundyneTurollaOthers
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Key SegmentsBy Product Type:
MotorlessElectricTwo Shaft
By End Use:
ConstructionChemical ProcessingMaterial HandlingMiningAutomotive ManufacturingOthers
By Region:
North AmericaLatin AmericaEuropeAsia Pacific Except JapanJapanThe Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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