Hydraulic Pump Industry Anticipated to Reach a Value of $15.1 Billion by 2034, With a Predicted Compound Annual Growth Rate (CAGR) of 4.0%

In the dynamic world of industrial machinery, the hydraulic pump market has proven to be a significant player, recording impressive growth in 2024.

Selectable Joystick Controls (SJC) emerged as the frontrunner, capturing a staggering 68.4% share of the global market. Meanwhile, Gear pumps held a steady 45.2% market share. Interestingly, both these segments operated above the 1000 psi mark, which collectively accounted for a significant 42.2% of the market.

The Asia-Pacific (APAC) region held a commanding position, claiming a 43.8% share in the global hydraulic pump market, valued at around USD 4.4 billion. The region's growth is primarily driven by industrial expansion, particularly in China, India, and Southeast Asia. Notably, APAC's market is pivoting towards energy-efficient and eco-friendly pumps.

The construction sector reigned supreme, accounting for a 34.5% chunk of the global hydraulic pump market in 2024. This sector's dominance is due in part to the use of hydraulic pumps in various applications, such as excavators, cranes, and concrete pumps.

Innovation also played a crucial role in the market's growth. Companies like CML (Camel Precision Co., Ltd) introduced advanced hydraulic products in 2025, including customized hydraulic stations and systems with energy-saving effects up to 75%. Other companies, such as PFISTERER, released new generations of mobile battery hydraulic pumps, but CML's focus on synchronization and precise load control systems for heavy loads set them apart.

The market is forecasted to continue its upward trajectory, with a projected growth to USD 15.1 billion by 2034, up from USD 10.2 billion in 2024. This growth is expected to occur at a Compound Annual Growth Rate (CAGR) of 4.0% during the forecast period 2025 to 2034.

The construction industry's reliance on hydraulic pumps is set to continue, as is the dominance of Positive Displacement Pumps, which accounted for 67.2% of the market in 2024.

However, the story doesn't end here. Companies like Bosch Rexroth, Bondioli & Pavesi, Bailey Hydraulics, Bucher Hydraulics, and Enerpac are also making strides in the market. Bosch Rexroth launched the A10VSO series axial piston pumps with improved energy efficiency. Bondioli & Pavesi expanded its PFD series of high-performance gear pumps for agricultural and industrial use. Bailey Hydraulics launched the Vickers PVH series replacement pumps, offering high efficiency and durability. Bucher Hydraulics unveiled the MX series of compact, high-pressure piston pumps for mobile machinery. Enerpac introduced the Synchronized Lifting System (SLS) with advanced hydraulic pumps for precise load control in heavy lifting.

The global hydraulic pump market serves diverse industries, including construction, agriculture, automotive, industrial manufacturing, oil & gas, aerospace, and defense. As these industries continue to grow and evolve, so too will the demand for hydraulic pumps.

APAC's move towards automation and modernized manufacturing has sparked a surge in hydraulic system use. This trend, combined with the region's focus on energy-efficient and eco-friendly pumps, suggests that APAC will continue to lead the global hydraulic pump market in the coming years.

In conclusion, the hydraulic pump market is a dynamic and evolving sector, driven by technological advancements, industrial growth, and a shifting focus towards energy efficiency and sustainability. As industries continue to rely on hydraulic pumps for their operations, we can expect the market to thrive and grow in the years to come.

Hydraulic Pump Industry Anticipated to Reach a Value of $15.1 Billion by 2034, With a Predicted Compound Annual Growth Rate (CAGR) of 4.0%