According to our latest study on "Gear Pump Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis - by Offering, Industry, Application and Monitoring Types," the Gear Pump Market size was valued at US$ 11.22 billion in 2024 and is expected to reach US$ 15.40 billion by 2031; it is estimated to record a CAGR of 4.9% from 2025 to 2031.

The global Gear Pump Market is segmented into North America, Europe, APAC, the MEA, and SAM. North America witnessed tremendous growth in electric vehicle sales in 2023. According to the International Energy Agency's (IEA) annual Global EV Outlook 2024, new electric car registrations in the US reached 1.4 million in 2023, accounting for a rise of more than 40% compared to 2022. In addition, the region is witnessing tremendous growth in its natural gas industry. According to the International Energy Agency (IEA), the domestic natural gas production in North America in 2022 was 44,377,518 TJ, out of which the US and Canada account for 80.6% and 16.2%, respectively. Also, domestic natural gas production witnessed a growth trend of 69% from 2000 to 2022. Thus, the growth in the automotive and natural gas industry is fueling the growth of the gear pump market in North America.

Europe is witnessing tremendous growth in the oil and gas industry. According to the IEA, Europe's domestic crude oil production was 24% of the total crude oil supply in 2022. Also, the total crude oil production in Europe in 2022 was 6,700,159 TJ. Also, according to the European Commission, in 2022, the EU's total crude oil imports were 479.6 Mt. In addition, the water and wastewater industry is gaining traction at a fast pace in the region. In March 2023, with the Urban Water Catalyst Initiative, Germany launched, with support from the Netherlands, the first global initiative to mobilize public and private investment for climate-resilient urban water utilities in the Global South. The aim is to provide city dwellers in the growing cities of the Global South with access to safe drinking water and sanitation. Thus, the growth in the oil & gas and water & wastewater industries is expected to fuel the growth of the gear pump market in Europe.

Asia Pacific is expected to record the highest CAGR in the gear pump market during the forecast period. The automotive industry is witnessing tremendous growth in this region. According to the data by the China Association of Automobile Manufacturers (CAAM), in 2023, China recorded an upsurge of 22% in the sales of its commercial vehicles, including exports, growing from 3.30 million units in 2022 to 4.03 million units in 2023. As per the Japan Automobile Dealers Association and the Japan Light Motor Vehicle and Motorcycle Association, 4.78 million new cars were sold in Japan in 2023, recording a rise of 13.8% year-on-year.

Key Findings of Gear Pump Market Study:

The gear pump market is segmented on the basis of type, pressure range, end-use industry, and geography. Based on type, the market is bifurcated into internal gear pumps and external gear pumps. Based on pressure range, the market is segmented into up to 100 bar, 100 bar to 300 bar, and above 300 bar. In terms of end-use industry, the market is segmented into construction, mining, chemical and petrochemical, oil and gas, automotive, agriculture, and others. By geography, the market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South and Central America.

In terms of type, the Gear Pump Market is segmented into internal gear pumps and external gear pumps. The external gear pumps segment held the largest Gear Pump Market share. An internal gear pump uses gears of two different sizes to transport fluid. The pump is made up of two rotors: an inner rotor, often known as the drive gear, and an outer rotor, which is larger and has internal teeth. Internal gear pumps are known for their great efficiency and energy-saving capabilities. Their design minimizes fluid slippage and maximizes volumetric efficiency, resulting in more fluid pumped with every rotation than other pump kinds. An elevated efficiency minimizes the energy required to produce the target flow rate, making internal gear pumps more cost-effective over time. In addition, internal gear pumps are adaptable and can handle fluids of varying viscosities, ranging from thin liquids to thick oils and semi-solids. This feature makes them useful for a wide range of industrial applications in the chemical, food & beverage, and lubricant industries.

Based on application, the Gear Pump Market is segmented into storage, transportation, inventory protection, and others. Refrigeration monitoring in storage applications is critical to ensuring product quality and safety in a variety of industries. One of the most important applications of refrigeration monitoring is in storage systems, where temperature-sensitive commodities must be kept under controlled conditions. These storage applications are used in a variety of industries, including food and beverages, pharmaceuticals, chemicals, and logistics, where precise temperature control is critical for maintaining product quality, safety, and regulatory compliance. With products necessitating precise temperature control to preserve their quality, any deviation can result in spoilage, financial setbacks, and potential safety hazards. This highlights the importance of specialized temperature-controlled warehousing, which guarantees that products are stored, managed, and transported within the ideal conditions to safeguard their integrity.

Jihostroj a.s.; Bosch Rexroth AG; Danfoss AS; Bucher Hydraulics GmbH; Parker Hannifin Corp; Kawasaki Heavy Industries Ltd; CASAPPA S.p.A.; Bailey International LLC; HYDAC International GmbH; Eaton Corp Plc; Marzocchi Pompe S.p.A.; KYB Corporation; Viking Pump, Inc.; and Gorman-Rupp Pumps are among the key players profiled in the Gear Pump Market report. Several other major players were studied and analyzed during the Gear Pump Market analysis to get a holistic view of the market and its ecosystem. The Gear Pump Market also provides detailed market insights, which help the key players strategize their growth. The report includes growth prospects owing to the current Gear Pump Market trends and their foreseeable impact during the forecast period.

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