Electrohydraulic Pump Market Trends & Analysis 2024-2034

Electrohydraulic Pump Market Outlook for (2024 to 2034)

The electrohydraulic pump market is estimated to rise from USD 1,392.7 million in 2024 to USD 2,565.6 million by 2034. Sales of electrohydraulic pumps are anticipated to rise at a CAGR of 5.50% during the forecast period. In 2023, the global market was valued at USD 1,316.1 million.

Attributes	Key Statistics
Electrohydraulic Pump Market Value (2024)	USD 1,392.7 million
Anticipated Market Value (2034)	USD 2,565.6 million
Value-based CAGR (2024 to 2034)	5.50 %

Key Market Highlights

Adoption of Industry 4.0 Drives Demand for Electrohydraulic Pumps

Industry 4.0 emphasizes the use of intelligent automation and data exchange in manufacturing processes. Electrohydraulic pumps have been gaining a lot of impetus as they can be easily integrated into smart manufacturing setups. This enables real-time adjustments, predictive maintenance, and optimized performance, which are essential for effective operations in the manufacturing processes.

The demand for electrohydraulic pumps is also increasing in factory units as they can be equipped with sensors and connectivity capabilities for enhanced collection of valuable operational data. Manufacturers can use this data to gain insights into pump performance, energy efficiency, and overall system health. This capability can help adjust pump parameters in real time based on changing operating conditions, ensuring optimal performance.

Consumption Analysis of the Electrohydraulic Pump Market

• Manufacturing industries, including automotive, aerospace, machinery production, and metalworking, form one of the largest consumer pools in the market. These industries use electrohydraulic pumps in powering hydraulic systems such as metal forming, stamping, and assembly line operations.
• Apart from this, the construction sector also utilizes electrohydraulic pumps for powering hydraulic systems in construction machinery. These pumps are integrated with excavators, cranes, loaders, and other heavy construction equipment to provide hydraulic power for lifting, digging, and other operations.
• The oil and gas sector also uses electrohydraulic pumps in hydraulic systems for drilling rigs, wellhead control systems, and various other applications. The pumps play a pivotal role in providing the hydraulic power required for efficient and precise operations in the extraction and processing of oil and gas.
• Electrohydraulic pumps are one of the essential components in the mining sector as well. These pumps enable the hydraulic systems to perform tasks like digging, material handling, and transporting minerals in mining operations.
• In the agricultural sector, electrohydraulic systems are often fixed with tractors, harvesters, and irrigation systems to power hydraulic systems for functions such as steering, lifting, and controlling various implements. Farmers can do labor-intensive activities without the aid of manual labor thanks to these pumps.

Historical Analysis of the Electrohydraulic Pump Market

The electrohydraulic pump market relies heavily on the performance of industrial and manufacturing activity. As hydraulic pumps also find their application in construction and infrastructure investments, any fluctuations in these sectors significantly impact the sales of these units. With the emphasis on smart automation and AI-driven operations in the manufacturing sector, factory units opt for advanced technologies like electrohydraulic pumps for efficient streamlining of processes.

Attributes	Key Statistics
Historical Market Valuation (2019)	USD 1,030.8 million
Market Value (2023)	USD 1,316.1 million
Historical CAGR (2019 to 2023)	6.30% CAGR

Factors Adversely Affecting the Electrohydraulic Pump Market

• Recessionary economic times and the decline in global consumer spending can significantly affect the manufacturing landscape globally. This can result in a negative demand for electrohydraulic pumps in a broad spectrum of industries worldwide.
• The electrohydraulic pump market is closely tied to industrial and infrastructure development, and any fluctuations in these sectors can result in decreased demand for electrohydraulic pumps.
• The market also gets adversely affected due to the decreased manufacturing and production capabilities in sectors such as manufacturing, automotive, and aerospace all over the world.
• Installing advanced electrohydraulic pump systems can be financially expensive for small and medium-sized manufacturing units in developing and underdeveloped economies. This can deter a major chunk of consumers from becoming a part of this market.
• Disruptions in the global supply chain, as witnessed during events like the COVID-19 pandemic, can adversely affect the availability of raw materials and components needed for manufacturing electrohydraulic pumps.
• High operational and maintenance costs associated with electrohydraulic systems may deter some industries from adopting or maintaining these systems, especially in times like this.

Category-wise Insights

Significant Use of Electrohydraulic Pumps in Metal Forming Operations

The significance of efficient pumping solutions in the metal forming industries has been growing since the adoption of smart manufacturing systems in factory units. Metal forming operations, such as stamping, forging, and die casting, require hydraulic systems that provide accurate and robust force for shaping and molding raw metal materials. The product demand in the manufacturing landscape is also surging due to their uniformity in industries requiring tight tolerances and intricate designs.

Attributes	Details
End Use	Metal Forming
Market share	24.00%

On the basis of end users, the metal forming industries dominate the electrohydraulic pump market with a remarkable share of 24.00%. Their demand in the metal forming industry can also be attributed to their ability to deliver variable speed and force control. This enables manufacturers to optimize the shaping process for different materials and product specifications. Electrohydraulic pumps are also safer and more reliable due to their adaptive and responsive technologies.

Variable Displacement Electrohydraulic Pumps Gaining Popularity Across Industries

With the rise in the diversification of operations in a single manufacturing unit, businesses are actively seeking pumping solutions that can be easily operated to meet varied demands across various industrial applications. Electrohydraulic pump systems with variable displacement feature allows these pumps to adjust the flow rate and pressure of hydraulic fluid, providing precise control over the output. This helps industries expand their manufacturing capabilities in real time.

Attributes	Details
Product Type	Variable Displacement
Market share	33.00%

On the basis of product type, electrohydraulic pumps with variable displacement features dominate the market with a share of 33.00%. These pumps finely adjust the pump's output based on real-time requirements, which not only enhances operational efficiency but also reduces energy consumption but also enhances sustainability during the overall manufacturing processes.

Country-wise Insights

This section provides an analysis of the electrohydraulic pump market by countries, including the United States, the United Kingdom, Australia, China, and India. The table presents the CAGR for each country, indicating the expected growth of the blister card market in that country through 2034.

Countries	CAGR (2024 to 2034)
India	6.20%
China	6.00%
Australia	5.20%
The United Kingdom	5.10%
The United States	5.10%

Electrohydraulic Pump Market in India

The electrohydraulic pump market in India is anticipated to grow at a significant rate of 6.20% CAGR from 2024 to 2034.

• In the past few years, the Indian economy has witnessed robust growth in industrialization and expansion of manufacturing sectors. Government policies promoting indigenous manufacturing have boosted various sectors in the nation. The demand for electrohydraulic pumps is touching the skies as they are one of the essential components in these factory units.
• India is also experiencing a surge in infrastructural development projects such as construction, water management, and power generation, both by government as well as private bodies. These projects require significant use of electrohydraulic pumps for ground drilling, foundation work, and power transmission.

Electrohydraulic Pump Market in China

The electrohydraulic pump industry in China is expected to showcase remarkable growth during the forecast period, with a CAGR of 6.00%.

• The Chinese economy is known for its massive manufacturing sector in the world. Over the years, these sectors have heavily emphasized advanced technologies and automation in the pumping systems. This has opened new doors for the electrohydraulic pump market, nurturing significant growth and opportunities.
• The Chinese government has also actively supported and promoted the use of technologically advanced systems on the shop floor. This has inspired large and small industries to install electrohydraulic pump systems in the manufacturing units, thus contributing to the market's growth.

Electrohydraulic Pump Market in Australia

The electrohydraulic pump market in Australia is anticipated to grow at a 5.20% CAGR over the forecast period.

• The mining industry in Australia is a significant contributor to the country's economy. This industry relies heavily on electrohydraulic pump systems for ore extraction, material transport, and processing.
• In the agricultural sector as well, electrohydraulic pumps are utilized in machinery such as tractors and harvesters. The modernization of farming practices and the adoption of advanced equipment contribute to the market's growth.

Electrohydraulic Pump Market in the United Kingdom

The electrohydraulic pump market in the United Kingdom is anticipated to grow at a CAGR of 5.10% from 2024 to 2034.

• The increasing focus on renewable energy projects, such as hydropower and wind energy, involves electrohydraulic pumps in power generation and control systems. This shift in the energy landscape towards renewable sources has significantly influenced the role of electrohydraulic pumps in power generation and control systems.
• The United Kingdom is also known for its metal-forming industries spread across the nation. These industries, especially metal forming and CNC machining, rely heavily on them for their accuracy and control. This has collectively contributed to the growth of the electrohydraulic pump market in the country.

Electrohydraulic Pump Market in the United States

The United States’ electrohydraulic pump market is expected to showcase remarkable growth in the forecast period from 2024 to 2034, with a rate of 5.10% CAGR.

• The defense sector is one of the most significant contributors to the economy of the United States. The sector utilizes electrohydraulic pumps for various applications, including aircraft control systems and military equipment.
• The emphasis on renewable energy sources, such as wind and solar power, has increased investments in applications like solar tracking and wind turbine control, supporting the expansion of the renewable energy sector.

Competitive Landscape

The market in the global context is still in its growing stages. Due to its newness in the industry, businesses are still not readily adopting them. Though key players in the market have spread their wings in most parts of the world, some underdeveloped regions still have meager adoption rates. This is primarily due to the high initial investments, which can be detrimental for small-size enterprises. New entrants face intense competition from existing companies, which often have well-established market presence and customer trust.

Recent Developments

• Parker Hannifin, the global leader in motion and control technologies, recently launched a Permanent Magnet AC (PMAC) motor. This motor is ideal for electro-hydraulic pumps used by 48Vdc construction vehicles, such as mini excavators. The motors are also suitable for on-highway truck steering applications and auxiliaries.
• Liebherr-Aerospace and Airbus Defence and Space have strengthened their relationship by signing a contract to develop and manufacture the entire landing gear and hydraulic system for the Eurodrone, the first unmanned aerial system designed for flight in non-segregated airspace.

Key Companies in the Market

• Bosch Rexroth AG
• Parker Hannifin Corporation
• Eaton Corporation PLC
• Moog Inc.
• Danfoss Power Solutions
• Enerpac Tool Group
• Linde Hydraulics
• Oilgear Company
• Shimadzu Corporation
• HYDAC International GmbH

Table of Content

• 1. Executive Summary
• 2. Market Overview
• 3. Market Background
• 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034
• 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Type
  • 5.1. Wound Field Motors
  • 5.2. Permanent Magnet Motors
• 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Application
  • 6.1. Buses and coaches and Vocational vehicles
  • 6.2. Construction
  • 6.3. Agricultural equipment
• 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End User
  • 7.1. Electric power steering
  • 7.2. Electro-Hydraulic system and circuits
• 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region
  • 8.1. North America
  • 8.2. Latin America
  • 8.3. Western Europe
  • 8.4. Eastern Europe
  • 8.5. South Asia and Pacific
  • 8.6. East Asia
  • 8.7. Middle East and Africa
• 9. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 10. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 11. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 12. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 13. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 14. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 15. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 16. Key Countries Market Analysis
• 17. Market Structure Analysis
• 18. Competition Analysis
  • 18.1. Rittal Inc.
  • 18.2. Parker-Hannifin Corporation
  • 18.3. Bosch Rexroth
  • 18.4. Allied Motion
  • 18.5. Parker Vetus
  • 18.6. Cembre Rittal
  • 18.7. Intercable GmbH
  • 18.8. Mile-X Equipment Inc.
  • 18.9. JTEKT North America
  • 18.10. VETUS
  • 18.11. Hansa-tmp
• 19. Assumptions & Acronyms Used
• 20. Research Methodology