Electrohydraulic Pumps Market Is Expected To Grow at a CAGR Of 9.24% during Forecast Period 2023 To 2030 | Data By Contrive Datum Insights Pvt Ltd.
Contrive Datum Insights Pvt Ltd
5 min read
Contrive Datum Insights Pvt Ltd
According to a market research study published by Contrive Datum Insights, Asia Pacific led the market is expected to have the highest CAGR over the next five years.
Farmington, March 20, 2023 (GLOBE NEWSWIRE) -- The Global Electrohydraulic Pumps Market Size Was Estimated At USD 1327 Million In 2022, Growing at a CAGR Of 9.24% During The Forecast Period Of 2022 To 2030. Electro-Hydraulic Pumps (EHPs) are newer versions of hydraulic pumps that use less fuel and produce fewer emissions. Electrohydraulic Pumps are mostly made or designed for all-electric and hybrid-electric mobile applications.
The electro-hydraulic pump system is made up of an electric motor that is directly connected to a hydraulic pump and is controlled by a high-performance mobile reinforced drive.
During the forecast period, the global market for electro-hydraulic pumps is expected to grow quickly. This is because electro-hydraulic pumps are being used more and more in applications like electric power steering, electro-hydraulic systems, and circuits.
Electro-hydraulic pumps are more efficient than traditional pumps, and there is a shift towards electro-hydraulic pumping. This has affected the growth of the electro-hydraulic pump market over the forecast period. Over the next few years, the global market for electric hydraulic pumps is expected to grow quickly. This is because electric hydraulic pumps are being used more and more in applications like electric power steering and electrohydraulic systems and circuits. In the past few years, things like falling oil prices have had a big effect on the pump industry. This is likely to slow the growth of the global electro-hydraulic pumps market.
Regional Outlook:
In terms of geography, the global electric hydraulic pump market can be split into North America, Europe, Asia-Pacific, Middle East and Africa, and South America.
Electro-hydraulic pumps are mostly sold in North America, and the United States is a key market because of its industrialization and technological progress.
During the forecast period, the electric hydraulic pump market is expected to grow quickly in Asia-Pacific, followed by Europe and North America. This is because developing countries like India and China are building more infrastructures. This is expected to boost the industrial segment of the electric hydraulic pump market across the region.
North America: (US, Canada, Mexico, Rest of North America)
Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
Latin America: (Brazil, Argentina, Rest of Latin America)
Rest Of the World
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About Us: Contrive Datum Insights (CDI) is a global delivery partner of market intelligence and consulting services to officials at various sectors such as investment, information technology, telecommunication, consumer technology, and manufacturing markets. CDI assists investment communities, business executives, and IT professionals to undertake statistics-based accurate decisions on technology purchases and advance strong growth tactics to sustain market competitiveness. Comprising of a team size of more than 100 analysts and cumulative market experience of more than 200 years, Contrive Datum Insights guarantees the delivery of industry knowledge combined with global and country-level expertise.
