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Gear Pump Market Growth Opportunities, Industry Analysis, Size, Share, Geographic Segmentation & Competitive Landscape R

The global gear pump market size is projected to reach USD 2.32 billion by 2025. The growth is driven by increasing scope of application in construction, automotive, and agriculture industries.

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Gear Pump Market Growth Opportunities, Industry Analysis, Size, Share, Geographic Segmentation & Competitive Landscape R

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  1. Your Catalyst to a Lucrative Business Gear Pump Market Share, Size, Segmentation, Outlook and Forecasts to 2025 | HexaResearch “ The global gear pump market size is projected to reach USD 2.32 billionby 2025.” 23 January2019 The global gear pump marketsize is projected to reach USD 2.32 billion by 2025. The growth is driven by increasing scope of application in construction, automotive, and agriculture industries. In addition, growth of oil and gas industry is expected to be a key factor driving the market, especially in U.S. and the Middle Eastern countries. Gear pump is predominantly used for displacement, transfer, and extraction of fluids in the oil and gasindustry. Technological advancements play a strategic role in fostering demand for gear pumps in different industries. Various innovations, such as development of double gear pumps with minimal number of parts and axial gauge,arereducingtheproductioncostwhileincreasingtheprocessreliability. The integrated adaptive systems use computer assisted manufacturing, which increases the production quality and reduces the production time. For instance, Sumitomo Electric Industries, Ltd. designed Parachoid and Megafloid motors for improving efficiency of gear pumps. The advent of high-efficiency internal rotors has increased the efficiency and reliability of industrialoperations. FollowUs:

  2. Your Catalyst to a Lucrative Business External gear pump held 80.09% of the total market share in 2017. These are widely used as oil pumps in engines and as lubrication pumps in machine tools and fluid power transfer units. Favorable government policies in India and China to encourage investments in petrochemical and agrochemical production are expected to open new growth avenue over the forecastperiod. Browse Details of Report @https://www.hexaresearch.com/research-report/gear-pump-market Oil and gas segment led the global market in 2017 and is projected to expand at the highest CAGR of 4.4% during the forecast period. To meet the growing demand for oil, many companies are adopting techniques, such as microbial Enhanced Oil Recovery (EOR), CO2 injection, and thermal injection among others to increase oil production. This trend is expected to boost demand for technological advanced gear pump over the forecastperiod. Growing global population and demand for food are driving growth of agriculture industry. Nevertheless, changing lifestyle and increasing disposable income are creating a huge demand for residential construction and passenger cars. Thus, rapidly expanding construction, automotive, and agriculture sectors, especially in emerging economies including China and India, would drive the market. The Europe gear pump market is expected to register a CAGR of 3.3% from 2017 to 2025. Increasing government initiatives for minimizing energy consumption and CO2 emission coupled with demand for cost-effective solutions and quality products are expected to propel the growth. Moreover, rising focus on R&D activities by key companies is expected to provide substantial businessopportunities. In emerging economies, such as China and India, lower product penetration and extensive applications are the key growth opportunity drivers. Many prominent large- and medium-scale enterprises are investing in manufacturing positive displacement pumps. Therefore, certain economies within the Asia Pacific and Middle East and Africa regions are anticipated to be lucrative markets for gear pumps over the next fewyears. Browse Related Category Market Reports @ https://www.hexaresearch.com/research-category/distribution-and- utilities-industry FollowUs:

  3. Your Catalyst to a Lucrative Business AboutUs: Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growthinitiatives. ContactUs: Ryan Shaw HexaResearch Felton Office Plaza 6265 Highway9 Felton, California 95018 UnitedStates Phone:+1-800-489-3075 Email:sales@hexaresearch.com Website -https://www.hexaresearch.com FollowUs:

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