According to the new report published by Allied Market Research, titled, Axial Piston Hydraulic Motors and Pumps Market by Product and Application: Global Opportunity Analysis and Industry Forecast, 2014-2022, the axial piston hydraulic motors and pumps market was valued at $1,418 million in 2015, and is expected to reach at $ 1,882 million by 2022 during the forecast period. The axial piston hydraulic pumps segment is expected to dominate the global market. Asia-Pacific accounted for 34% of market share in 2014, and is expected to witness significant growth rate during the forecast period.
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An axial piston hydraulic motor is used to convert pressure and fluid energy into torque and angular displacement. An axial piston hydraulic pump, a type of positive displacement pump, which is used to convert mechanical power into hydraulic energy, that is, flow or pressure. The demand for hydraulic pumps and motors has increased, owing to increase in construction activities globally, rise in sales of automobiles, and growth in application areas in the mining industry. In addition, government regulations and legislations for reducing CO2 (carbon dioxide) and NOX (nitrogen oxide) emissions and increased awareness about energy savings are expected to propel the market growth. However, high cost of maintenance and continuous monitoring of these motors to detect and rectify any failure in the equipment pose a threat to market growth.
The axial piston hydraulic pumps segment dominated the global axial piston hydraulic motors and pumps industry in 2014, with around 53% share, and is expected to grow at the highest growth rate during the forecast period. The axial piston hydraulic pumps market is driven by high demand from oil & gas, chemical, water & waste water management, and manufacturing industries; and increase in adoption of high efficiency and high-power piston pumps in renewable energy, automotive, mining, agriculture; and other applications.
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In the global axial piston hydraulic motors market, the variable displacement segment generated highest share of revenue in 2014, and is projected to grow at the highest CAGR of 4.9% during forecast period. Similarly, in global axial piston hydraulic pumps market, the variable displacement segment generated highest revenue in 2014, and is anticipated to grow at the highest CAGR during the forecast period.
The manufacturing and construction applications segments collectively accounted for around 33% share of the global market revenue in 2014, while the water management application segment is anticipated to grow at the highest CAGR of 4.7%. The market for manufacturing applications is expected to grow at the second highest CAGR of 4.6%, owing to increase in process automation, upgradation of existing machineries and equipment in factories, and rise in adoption of highly efficient and high-power hydraulic motors and pumps.
Key Findings of the Axial Piston Hydraulic Motors and Pumps Market:
- The axial piston hydraulic motors segment dominated the market, in terms of revenue, and is projected to grow at a CAGR of 3.6% during the forecast period.
- The variable displacement axial piston hydraulic motors segment led the global axial piston hydraulic motors in 2014, and is anticipated to grow at the highest CAGR.
- The variable displacement axial piston hydraulic pumps segment dominated the global axial piston hydraulic pumps in 2014, and is anticipated to grow at the highest CAGR.
- Manufacturing application generated the highest revenue in 2014, while the water management application is estimated to grow at the highest growth rate of 4.7%.
- In 2014, Asia-Pacific was the dominant region and is anticipated to grow at the highest CAGR, while China is the major contributor in the market.
KEY PLAYERS - Bondioli & Pavesi SPA, Bosch Rexroth AG, Danfoss Group, DTA (Damen Technical Agencies), Eaton Corporation, HAWE Hydraulik SE, HYDAC, Hytec Group, Parker-Hannifin Corporation, and Poclain Hydraulics, Inc.
APPLICATION
Among applications, axial piston hydraulic motors and pumps market for manufacturing applications dominated the axial piston hydraulic motors and pumps, and is anticipated to continue its dominance throughout the period. The rise in the adoption of process automation, increase in use of technologically advanced designs of hydraulic motors and pumps, the inclusion of environment-friendly products, and up-gradation of existing machineries and equipment in the factories is expected to fuel the growth in axial piston hydraulic motors and pumps market.
Axial piston hydraulic motors and pumps market for water management applications is expected to grow at the highest growth rate during the forecast period. Water & wastewater management is one of the crucial tasks of a city or a town, for which high-pressure, high torque, and highly efficient motors and pumps are required. Increase in innovations, high demands for high-performance, and efficient high-pressure pumps are expected to offer numerous growth opportunities for market expansion. Furthermore, the demand for hydropower energy and tidal energy is expected to drive the market growth. Increase in need for planned cities and towns and rise in standards of living in the developing countries are expected to fuel the market growth in this sector.