The vane pump market is estimated to be USD 2,442.4 million in 2024. In 2023, the market size was USD 2,311.1 million. The market is expected to progress at a CAGR of 5.6% from 2024 to 2034. By 2034, the vane pump market is anticipated to be valued at USD 4,292.1 million.
Global Vane Pump Market Trends
| Attributes | Details |
|---|---|
| Vane Pump Market Size, 2024 | USD 2,442.4 million |
| Projected Market Value, 2034 | USD 4,292.1 million |
| Value-based CAGR (2024 to 2034) | 5.6% |
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The vane pump market valuation was USD 1,844.5 million in 2019. During the historical period from 2019 to 2023, the market grew at a CAGR of 5.8%.
The adoption of vane pumps in industries continued to accelerate during the historical period. As positive displacement found more of a place in industries, vane pumps had a positive outlook. The growth of the automobile and aerospace industries over the historical period also contributed to the growth of the market. The market value reached USD 2,311.1 million by 2023.
| Market Valuation (2019) | USD 1,844.5 million |
|---|---|
| Historical CAGR (2019 to 2023) | 5.8% |
| Historical Market Valuation (2023) | USD 2,311.1 million |
For 2024, the value of the vane pump market is estimated at USD 2,442.4 million. During the period from 2024 to 2034, the market is expected to progress at a CAGR of 5.6%.
The easy-to-handle and easy-to-operate features of vane pumps make the machine viable for several industrial processes. With positive displacement equipment’s popularity set to continue over the forecast period, vane pumps are also set to find greater industrial use. The rise of industrialization is expected to positively affect the vane pump market.
However, the presence of numerous alternatives like gear pumps and piston pumps are set to restrict the pace of progress in the market. The market is projected to reach USD 4,292.1 million by the end of the forecast period.
Industrialists are inclined toward the heavy duty subset when it comes to vane pumps. In 2024, heavy duty vane pumps are estimated to hold 32.0% of the market share by product type.
Ease of handling regarding heavy duty vane pumps starts from the installment itself. The machine is easy to install, and when working, it provides operational ease to end-users too. Thus, heavy duty vane pumps are popular in the market.
| Attributes | Details |
|---|---|
| Top Product Type | Heavy Duty |
| Market Share in 2024 | 32.0% |
Vane pumps are widely employed in the aviation industry. For 2024, the aviation segment is anticipated to hold 24.0% of the market share by end-use industry.
Vane pumps have numerous applications in planes. Vane pumps are used in braking systems for all kinds of planes. As the size of the plane gets bigger, the hydraulic system required also increases. Thus, bigger planes have a bigger need for vane pumps. Therefore, the aviation industry is representing a significant end-user base for vane pumps.
| Attributes | Details |
|---|---|
| Top End-use Industry | Aviation |
| Market Share in 2024 | 24.0% |
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Rising industrialization in Asia Pacific, especially in China and India, is propelling the demand for vane pumps. As a result, Asia Pacific represents significant opportunities for market players.
Europe is another region with potential for market growth. Europe drives the global market demand due to the wide acceptance of hydraulic systems in the region.
| Countries | CAGR (2024 to 2034) |
|---|---|
| United States | 5.2% |
| Australia | 5.3% |
| United Kingdom | 5.2% |
| India | 6.3% |
| China | 6.1% |
India is anticipated to be one of the fastest-growing countries in the market. The CAGR for the market in India is marked at a promising 6.3% from 2024 to 2034.
Government initiatives have broadened the scope of industrialization in India. For example, the ‘Make in India’ initiative has helped industries to grow in the country. Market players such as HHV Pumps have taken advantage of the initiative to expand facilities. Thus, the market is getting propelled in India.
China is not far behind India when it comes to Asian countries with regard to the progress of the market. The CAGR for the market in China is pegged at an encouraging 6.1% over the forecast period.
With rapid advancements in the automobile and aviation industries, the adoption of hydraulic systems is increasing in China. Thus, the market is expected to have bright prospects in China.
Various industrial plants for renewable energy are dotting the Australian landscape. With an increasing focus on renewable energy as one of the emerging sectors, demand for vane pumps is rising in Australia and is thus rife with opportunity for the market. The CAGR for Australia over the forecast period is pegged at a solid 5.3%.
In the United Kingdom, the demand for sliding vane pumps is increasing. Manufacturers are paying attention by developing new technologies in sliding vane pumps. Thus, there is an increase both in the production and in the use of sliding vane pumps in the United Kingdom. For the forecast period, the United Kingdom market is pegged to register a reasonable CAGR of 5.2%.
In the United States, pumps and pump systems are viewed positively by industries and regulatory bodies. For example, the ‘Pump Systems Matter’ program has been developed by the Hydraulic Institute in the United States. Vane pumps, too, are benefitting due to the positive outlook towards pumps. Over the forecast period, it is predicted the market will register a sturdy CAGR of 5.2%
Efficiency and low noise levels are two of the important aspects that appeal to end-users while purchasing vane pumps. Manufacturers are further trying to improve efficiency and reduce the noise levels to make vane pumps even more appealing. The help of technology is being sought to meet the dual objectives.
The market for vane pumps is highly competitive. Several well-established companies compete with local players to gain higher profits. Expanding into untapped regions is a common concern among many of the higher-end players.
Recent Developments in the Vane Pump Market
The size of the vane pump market is estimated to be USD 2,442.4 million in 2024.
Heavy duty vane pumps are leading the market by product type, with an estimated share of 32.0% in 2024.
Vane pumps are commonly used in the aviation industry, with a projected market share of 24.0% in 2024.
The vane pump market size is predicted to be USD 4,292.1 million by 2034.
The market in India is predicted to progress at a CAGR of 6.3% from 2024 to 2034.
| Estimated Market Share in 2023 | USD 14.12 billion |
|---|---|
| Forecasted Market Size by 2033 | USD 21.72 billion |
| Projected Market CAGR (2023 to 2033) | 4.4% |
| Estimated Market Size (2023) | USD 33 billion |
|---|---|
| Projected Market Size (2033) | USD 60 billion |
| CAGR (2023 to 2033) | 6.2% |
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Vane Pump Market
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