The global external gear pump market share is estimated to clock a revenue of USD 247.6 million in 2024. External gear pump providers are likely to expect a sluggish CAGR of 3.90% through 2034, with a forecast valuation of USD 370 million by 2034.
| Attribute | Details |
|---|---|
| External Gear Pump Market Size, 2023 | USD 238.1 million |
| External Gear Pump Market Size, 2024 | USD 247.6 million |
| External Gear Pump Market Size, 2034 | USD 370 million |
| Value CAGR (2024 to 2034) | 3.90% |
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| Attributes | Details |
|---|---|
| External Gear Pump Market Size (2019) | USD 202.7 million |
| External Gear Pump Market Size (2023) | USD 238.1 million |
| Historical Growth Rate % (2019 to 2023) | 4.1% |
The external gear pump market demand observed a rise in value from USD 202.7 million in 2019 to USD 238.1 million in 2023. Meanwhile, the market registered a CAGR of 4.10% from 2019 to 2023. With broad applications across sectors, including chemical, construction, mining, material handling, and automotive manufacturing, the market demand for external gear pumps is set to increase. Other prevailing factors for market growth consist of:
The market is set to register a CAGR of 3.9% through 2034 to reach USD 370 million by 2034 from USD 247.6 million in 2024.
| Historical CAGR % (2019 to 2023) | 4.1% |
|---|---|
| Forecast CAGR % (2024 to 2034) | 3.9% |
| Leading End Use | Chemical Processing |
|---|---|
| Market Share % (2023) | 19% |
The use of external gear pumps is significant in chemical processing. As FMI analysts estimate, the segment gained a market value of 19% in 2023. These positive displacement pumps are finding high demand in applications requiring high-pressure output or precise dosing. The versatility and low maintenance of external gear pumps are increasing their attractiveness in chemical processing applications. Sales for external gear pump is projected to increase as manufacturers focus on bringing efficiencies to the product.
| Leading Product Type | Two Shaft |
|---|---|
| Market Share % (2023) | 29% |
Two shaft holds dominance in the external gear pump market. The segment acquired a share of 29% in 2023. Demand for two shafts is rising directly to demand for sophisticated machinery. Additionally, manufacturers of end-use industries are adopting two shafts owing to their energy efficiency. Players are expected to utilize new materials and enhance their manufacturing processes to develop even better two shafts.
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| Country | The United Kingdom |
|---|---|
| Forecast CAGR % (2024 to 2034) | 3.5% |
The recent market estimates demonstrate Europe's external gear pump market acquired a value share of 23% in 2023. Within Europe, the United Kingdom and Germany registered CAGRs of 3.5% and 3.3%, respectively, through 2034. Market growth across these countries is projected to be determined by the following factors:
| Country | The United States |
|---|---|
| Forecast CAGR % (2024 to 2034) | 3.5% |
The United States is anticipated to register sales of external gear pumps at a CAGR of 3.5% through 2034. The following factors drive the country:
| Country | India |
|---|---|
| Forecast CAGR % (2024 to 2034) | 4.6% |
The India external gear pump market is expected to expand at a CAGR of 4.6% through 2034. The following factors are guiding sales of external gear pumps in India:
| Country | China |
|---|---|
| Forecast CAGR % (2024 to 2034) | 4.4% |
The China external gear pump market is anticipated to expand at a CAGR of 4.4% through 2034. Growth analysis of the external gear pump market in China is as follows:
| Country | Australia |
|---|---|
| Forecast CAGR % (2024 to 2034) | 3.6% |
In Australia, the demand for external gear pumps is expanding at a CAGR of 3.6% through 2034. Throughout the forecast period, the market scope is elevated by:
Key players are developing high-performance external gear pumps to increase their adoption among end users. Constant research and development to advance this equipment and integration of Industry 4.0 technologies in recent versions of external gear pumps are competitive strategies employed by players. Key providers are also focusing on developing strategies to enter new geographical territories.
Market competitors are acquiring smaller companies with a track record in the external gear pump field. New acquisitions aim to reach recent market locations, expand product portfolios, and enhance overall capabilities. Further, players are enhancing their manufacturing capacities to meet the surging demand for external gear pumps. Besides these strategies, players partner, collaborate and refine their customer services to reach more customers.
Profiles of Leading Players of External Gear Pump
| Company Names | Competitive Strategies Adopted by Companies |
|---|---|
| Bosch Rexroth AG | The company is a leading provider of power trains, hydraulics, and automation technology. The firm makes constant innovations and developments in its product portfolio of external gear pumps, such as the development of highly efficient external gear pumps that are designed for reduced energy consumption. |
| Eaton | It is a diversified industrial manufacturer with a widespread presence in fluid power and power management industries. The firm is extending its reach in new markets via strategic acquisitions. These acquisitions helped Eaton gain a more substantial presence in the global market for external gear pumps. |
| Parker Hannifin | The company leads the market in motion and control technologies. For future growth, the company is focusing on strategic collaborations and partnerships. |
| Sundyne | The company manufactures compressors and process pumps. The company's focus area is customer service, which helps build customer service and promotes repeat business prospects. The company offers a range of customer service programs like technical support, training, and field service. |
The external gear pump market is expected to be worth USD 247.6 million in 2024.
The market is predicted to expand at a CAGR of 3.90% through 2034.
The market is anticipated to account for USD 370 million by 2034.
India is predicted to provide high growth opportunities.
Two shafts are considerably opted by end users.
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. Motorless 5.2. Electric 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Application 6.1. Construction 6.2. Material Handling 6.3. Mining 6.4. Automotive Manufacturing 6.5. Other 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. South Asia and Pacific 7.6. East Asia 7.7. Middle East and Africa 8. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 9. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 10. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 11. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 12. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 13. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 14. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. IDEX Corporation 17.2. EATON 17.3. Haight Pumps (Baker) 17.4. Dayton 17.5. Chemsteel 17.6. Vivoil Oleodinamica 17.7. Pulsafeeder 17.8. Beinlich Pumpen 17.9. Hydropa 18. Assumptions & Acronyms Used 19. Research Methodology
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External Gear Pump Market
