The global fluid power pump and motor market is expected to witness significant growth over the forecast period. Fluid power pump and motors find its application in various end-use industries including agricultural, construction, marine, entertainment, packaging, industrial, military & aerospace, mining, earthmoving equipment, material handling, and medical industries. Increasing need for sophistication of industrial operations is a key driver for the fluid power pumps and motor market. Aerospace developments and advancements by many countries in recent times created a demand for the aerospace grade fluid power pumps.
Safety measures in hazardous environment are driving the market as this equipment is spark-free and they can be used under high temperatures. High power to weight ratio delivered by fluid power pump system makes them suitable in mining plants. Increasing mining activities in various countries such as China, Australia, Vietnam, etc. are expected to foster fluid power system demand.
Advantage of fluid power pump and motor over the electric motors is they can produce high torque at low speeds. This characteristic is very much desirable where smooth operations at high loads are required. This is expected to drive the market participants to shift towards fluid power pump and motor system.
Mechanical power train systems are very complicated in their operation which includes chains, belts, cams, and linkages, which need high maintenance compared to fluid power assemblies. Ease of handling along with simplicity in design is expected to attract more users to incorporate fluid power systems.
Increasing development in the mining industry throughout the world to meet the needs raw material requirements, is expected to foster fluid power pumps market, it being a major part of the process.
Lifting and pressing processes are being carried out by fluid power pump system, which was earlier done by mechanical systems, because of their higher productivity and less power consumption.
Fluid power pumps are also used in the aerospace industry to operate various engine components and accessories. Growing aerospace market is expected to create an opportunity for fluid power pump and motor market to grow exponentially.
Requirement of higher safety factors to deal with high pressure liquids and compressed air is the major cost associated with these systems which are expected to restraint market growth. High amount of noise pollution created by pneumatic pumps while releasing the compressed air into the environment may have legal issues in some countries. High costs associated with compressing and conditioning the air in compressed pneumatic pumps are expected to limit the market growth.
On the basis of products, the market can be segmented as aerospace hydraulics, aerospace pneumatics, non-aerospace hydraulics, and non-aerospace pneumatics. Non-aerospace hydraulics is estimated to hold the largest market share as these systems are used in most of the industrial applications. Aerospace hydraulics is also a key application segment on account of increasing hydraulic systems demand from the aerospace industry.
North America is estimated to be the largest market on account of highly developed industrial and aerospace sectors. Europe is also expected to be high potential market in the industrial segment due to the presence of highly sophisticated and high technology industries using fluid power in their manufacturing operations.
The U.S. and Germany are the leading manufacturer of aerospace equipment and fluid power systems which are used in the aerospace industry to a great extent. For example, the landing gear of aircrafts uses hydraulic power systems for functioning.
Countries like, Ukraine & Russia in Europe, South Africa & Guinea in Middle East & Africa, and China &Australia in Asia Pacific are estimated to be potential markets for the fluid power motors due to increasing mining operations. Growing manufacturing sector in the Asia Pacific region is a high potential market for hydraulic & pneumatic power pumps and motors, as the large manufacturing units use hydraulic & pneumatic power in many of their operations.
Key players operating in the global industry include Hydro-Gear, Bosch Rexroth Corporation, Parker-Hannifin Corporation, ITT Corporation, Sulzer Pumps (us), East West Manufacturing, M. P. Pumps, Rockford Concentric, Bucher Hydraulics, The Oligear Company, Mcnally industries, J. H. Bennet and company, Mechanical Tool & Engineering Co, White Drive Products, Propulsys, Armstrong Fluid Handling, New Dimensions Precision Machining, Spencer Fluid Power, SRC Lexington, GsscInc, and Ram-Pac International.
Fluid power systems require regular servicing and periodic maintenance in order to ensure breakdown free operation of the system. After sale service is highly important for these equipment, which needs a constant interaction with the customer. Regional spread should be high and vast number of technicians should be available to address the breakdowns and regular servicing activities.
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