Axial piston hydraulic motors and pumps market for water management applications is expected to grow at the highest growth rate during the forecast period.
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The global axial piston hydraulic motors and pumps market was valued at $1,418 million in 2015 and is projected to reach $1,882 million by 2022 at the CAGR of 4.2% during the forecast period. The report includes the study of axial piston hydraulic motors and axial piston hydraulic pumps and their sub-types including constant & variable displacement piston pumps and motors.
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Axial piston hydraulic pumps are used to convert mechanical energy into hydraulic energy; while axial piston hydraulic motors are used to convert hydraulic pressure and flow into angular displacement (rotation) and torque. In addition, axial piston hydraulic motors and pumps are used in various applications including manufacturing, oil & gas, agriculture, automotive, energy & utility, mining, food & beverages, construction, water management, and others (transportation & logistics, maritime, and chemical).
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The following graph signifies the growth potential of the global axial piston hydraulic motors and pumps market size based on application. The market is driven by manufacturing and water management segments, and accounted for the highest market share in 2014.
The major factors that drive the growth of these segments include the high adoption of process automation, significant growth of manufacturing industry in the Asia-Pacific and LAMEA, rise in need for renewable energy, upgrade of existing machinery and equipment in factories, and technological upgrades in the design of axial piston pumps & motors.
n recent years, there is an increase in cross-border infrastructural activities globally, particularly in the developing regions, such as Asia and Africa. Moreover, key players from the construction industry are also planning to expand their infrastructure projects in mining, energy, water, and rail sectors in these regions.
In addition, there is an increase in foreign investment for Greenfield projects in these regions. North America has also witnessed an increase in industrial and commercial construction activities in the past few years.
Design upgradation and technical innovation have fueled the adoption of axial piston hydraulic motors and pumps in various end-user industries. Displacement-controlled actuators, hydraulic hybrid power trains, and continuous variable transmissions for mobile hydraulic machines are the latest technologies, which allow reduced emissions and fuel savings resulting to increase in the demand for the positive displacement of pumps and motors.
Furthermore, stringent legislation and regulations regarding eco-friendly equipment, especially in the mobile hydraulics and industrial machinery have driven the demand for energy efficient, high pressure, high performance, and adaptable axial piston hydraulic motors and pumps.
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