The global hydraulic pump market size was US$ 8,461.9 million in 2021. The global hydraulic pump market is forecast to grow to US$ 13,181.4 million by 2030 by registering a compound annual growth rate (CAGR) of 5.1% during the forecast period from 2022 to 2030. 
Hydraulic pumps are a type of mechanical energy source that transforms mechanical energy into hydraulic or hydrostatic energy. Such pumps can overcome the pressure caused by the load at the pump outlet by maintaining the flow with sufficient power.

Factors Influencing the Market
The expansion of the application industries is the main factor influencing the growth of the hydraulic pump market. Hydraulic pumps find a wide range of applications in construction, mining, and automotive industries. Additionally, developing nations like China and India are becoming more urbanized and industrialized, which is expected to offer several opportunities for the growth of the hydraulic pump market during the study period. 
The growing global population will increase the demand for products from the end-use industries of the hydraulic pump. As a result, it will contribute to the growth of the global hydraulic pump market during the study period. Apart from that, an important factor in economic from that, development is the growth of the mining industry. There are many reserves that are waiting to be found, but the necessary tools and equipment are lacking. Thus, it will be opportunistic for the hydraulic pump market during the forecast period as hydraulic mining is significantly growing in popularity. 
On the flip side, the high maintenance cost associated with hydraulic pumps may limit the market growth during the study period.

COVID-19 Impact Analysis
The COVID-19 pandemic has significantly affected the global hydraulic pump market, owing to the decline in industrial activities. Further, the mining sector recorded a sharp drop in terms of revenue, which restricted the growth of the global hydraulic pump market for more than a year.

Regional Analysis
The Asia-Pacific hydraulic pump market is forecast to record the highest growth rate, owing to the rising industrialization and stringent regulations imposed by government bodies to limit carbon emissions. In addition, the rapidly growing construction industry, combined with the steadily rising population, will contribute to the growth of this regional market. Growing urbanization will also have a significant impact on the market. Apart from that, the benefits of hydraulic pumps, such as cost-effectiveness, time savings, etc., will prompt the demand for hydraulic pumps during the study period.

Competitors in the Market
• Bosch Rexroth AG
• Bucher Industries AG
• Danfoss AS
• Enerpac Tool Group Corp.
• Bailey International LLC
• Dynamatic Technologies Ltd.
• Eaton Corporation PLC
• Linde Hydraulics
• Oilgear
• Parker Hannifin Corporation
• Other Prominent Players

Market Segmentation
The global hydraulic pump market segmentation focuses on Type, Application, Control Type, and Region. 
By Type Outlook
• Gear Pump
o External Gear Pump
o Internal Gear Pump
• Vane Pump
• Piston Pump
o Lift Pump
o Force Pump
• Axial Pump
o Closed-Loop pump
o Open-Loop Pump
o Radial Piston-Pump
• Others
By Application Outlook
• Construction
• Automotive
• Passenger Car
• Commercial Vehicle
• Others
By Control Type Outlook
• Manual Control
• SJC Control
By Region
● North America
o The U.S.
o Canada
o Mexico
● Europe
▪ Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
▪ Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
● Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
● Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
● South America
o Brazil
o Argentina
o Rest of South America