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Internal Gear Pump Global market Report 2024 : Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Internal Gear Pump Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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LONDON, GREATER LONDON, UNITED KINGDOM, September 6, 2024 /EINPresswire / -- The internal gear pump market has experienced robust growth in recent years, expanding from $0.59 billion in 2023 to $0.63 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to increasing environmental awareness, the development of the energy sector, the widespread adoption of hydraulic systems, the global expansion of the oil and gas industry and the rapid growth of the automotive industry.
What Is The Estimated Market Size Of The Global Internal Gear Pump Market And Its Annual Growth Rate?
The internal gear pump market is projected to continue its strong growth, reaching $0.83 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to rapid industrialization, increased infrastructure projects, the need for hygienic and precise pumping solutions, the focus on reducing operational costs and maintenance downtime in various industries, and stringent regulations and standards for fluid handling systems.
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Growth Driver Of The Internal Gear Pump Market
The growing demand in the oil and gas sector is expected to propel the growth of the internal gear pump market going forward. The oil and gas industry is a crucial industry that includes the activities of exploring, extracting, and refining petroleum products from underground or underwater resources. The oil and gas sector is rising due to factors, such as energy demand, geopolitical tensions, and innovations. Internal gear pumps are essential in the oil and gas sector for their ability to handle diverse fluid viscosities and temperatures efficiently. Their robust performance and low maintenance needs are crucial for continuous operation in remote and challenging environments, supporting reliable fluid transfer across exploration, production, and processing operations.
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Which Market Players Are Steering The Internal Gear Pump Market Growth?
Key players in the internal gear pump market include Dover Corporation, Bosch Rexroth AG, Ingersoll Rand, Voith GmbH & Co. KGaA, HYDAC International GmbH, CIRCOR International Inc., SUMITOMO PRECISION PRODUCTS Co. Ltd., DESMI A/S, Viking Pump Inc., Hayward Gordon, Tuthill Corporation, IDEX India, Eckerle GmbH, Varisco, Bucher Hydraulics, Applied Pumps Limited, Daido Machinery Corpration, Haight Pump, Delta PD Pumps, Pulsafeeder, Camel Precision Co. Ltd.
What Are The Key Trends That Influence Internal Gear Pump Market Share And Analysis?
Major companies operating in the internal gear pump market are focused on developing advanced internal gear hydraulic pumps to provide cost-sensitive applications with high performance. Internal gear hydraulic pumps are designed for injection molding machines and speed-regulated stationary hydraulic systems running at up to 250 bar. This pump offers a good price/performance ratio, a long service life, minimal noise, and may be integrated into several pumps.
How Is The Global Internal Gear Pump Market Segmented?
1) By Product Type: Steel Pumps, Cast Iron Pumps, Other Product Types
2) By Operating Pressure: Less Than 100 Bar, 100–300 Bar, Above 300 Bar
3) By End-Use Industry: Chemical Industry, Marine Industry, Oil And Gas Sector, Food And Beverage Companies, Other End-Use Industries
Geographical Insights: North America Leading The Internal Gear Pump Market
North America was the largest region in the internal gear pump market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the internal gear pump market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Internal Gear Pump Market Definition
An internal gear pump is a form of positive displacement pump that pumps through the meshing of internal gears. It normally comprises of two gears, one with exterior teeth (the rotor) and one with internal teeth (the idler). They are recognized for their ability to support a wide range of viscosities and being efficient under differed pressure circumstances.
Internal Gear Pump Global Market Report 2024 from TBRC covers the following information:
.Market size data for the forecast period: Historical and Future
.Macroeconomic factors affecting the market in the short and long run
.Analysis of the macro and micro economic factors that have affected the market in the past five years
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global internal gear pump market report covering trends, opportunities, strategies, and more
The Internal Gear Pump Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on internal gear pump market size , internal gear pump market drivers and trends, internal gear pump market major players, internal gear pump competitors' revenues, internal gear pump market positioning, and internal gear pump market growth across geographies. The internal gear pump market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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The Business Research Company
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