Global Hydraulic Pumps Market to Grow at a CAGR Of 5.07% and Forecast to 2021
A hydraulic pump is a mechanical device that converts mechanical energy into hydraulic energy or hydrostatic energy. It operates on displacement principle. A vacuum is created at the pump outlet, when the pump operates, that induces a force, which drives a liquid from the reservoir into the inlet line. With the aid of further mechanical action, the liquid gets transferred to the outlet and eventually into the hydraulic system. This system is used in hydraulic drive systems, which can either be hydrostatic or hydrodynamic. A hydraulic machine, together with a pump, performs various tasks such as lift, lower, close, open, or rotate components. It is the source of power for various dynamic machines and equipment.
There are various types of hydraulic pumps:
• Gear pumps
• Vane pumps
• Piston pumps
The analysts forecast the Global Hydraulic Pump market to grow at a CAGR of 5.07 percent over the period 2015-2019.
Covered in this Report
This report covers the present scenario and the growth prospects of the Global Hydraulic Pump market during the period 2015-2019. For ascertaining the market size and vendor share, the report considers revenue generated from the sales of hydraulic pumps.
The report, the Global Hydraulic Pump Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Global Hydraulic Pump market landscape and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.