ReportsnReports . com adds new research report Global Gear Pump Market 2017-2021 . This report covers the present scenario and the growth prospects of the global gear pump market for 2017- 2021 . To calculate the market size , the report considers the revenue generated from the new installations .
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The analysts forecast global gear pump market to grow at a CAGR of 4.02 % during the period 2017- 2021 . The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry . The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors .
The following companies are the key players in the global gear pump market : Bosch Rexroth , Bailey International , Eaton , and Parker Hannifin . Other Prominent Vendors in the market are : Kawasaki Heavy Industries , Danfoss , Permco Gear Pumps , Atos , Hayward Tyler Group , DANTAL HYDRAULICS , ROPER PUMP COMPANY , and Commercial Shearing .
Global Gear Pump Market 2017-2021 , has been prepared based on an in-depth market analysis with inputs from industry experts . The report covers the market landscape and its growth prospects over the coming years . The report also includes a discussion of the key vendors operating in this market .
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Commenting on the gear pump market report , an analyst said : “ The latest trend gaining momentum in the market is fire-resistant hydraulic fluids . Mineral oils are the most commonly used hydraulic fluids . With an attempt to combat the deficiency of energy sources , efforts are being made to switch to liquids that are reliable and efficient . The high workload on these pumps increases ruptured lines , which in turn increases the possibility of fire . Such instances of fire in hydraulic gear pumps have led to a rise in demand for improved quality and standards . The new trend is effective lubrication and wear and corrosion-free hydraulic pumps .”
According to the gear pump market report , one of the major drivers for this market is growth of construction industry . Hydraulic gear pumps are largely used in the construction industry . The construction industry is expanding at large and across the globe . Hence , it is a major driver for the growth of the gear pump market . There are a lot of factors leading to the expansion of the construction industry . The developed countries and emerging markets are expected to double in the next 10 years .
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Further , the gear pump market report states that one of the major factors hindering the growth of this market is contracting mining industry in china . China consumes nearly 50 % of the world ’ s commodities . Therefore , the country ’ s economic slowdown has led to an oversupply of commodities such as coal and iron ore . However , the production costs of energy , labor , and equipment remain high . This has resulted in reduced revenues and profits , thus increasing the debt level of mining companies . This is a major challenge to the growth of the market as it results in a decrease in mining activities .