Global Electro-hydraulic Pumps Market 2024–2033

Reports Description

Global Electro-hydraulic Pumps Market was valued at USD 11,827.2 Million in 2024 and is expected to reach USD 22,856.6 Million by 2033, at a CAGR of 6.55% during the forecast period 2024 – 2033.

An electrohydraulic pump is a device that combines an electric motor with a hydraulic pump to generate hydraulic fluid pressure. This integration allows for the efficient conversion of electrical energy into hydraulic energy, which can then be used to power various machinery and systems.

Electrohydraulic pumps are known for their precision, control, and energy efficiency, making them suitable for applications in industries such as automotive, aerospace, construction, and manufacturing. They are particularly valuable in settings where variable pressure and flow rates are required, offering advantages over traditional hydraulic systems.

Electro-hydraulic Pumps Market: Growth Factors

Increasing Demand for Energy-Efficient Systems

The growing need for energy efficiency across various industries is a significant driver of the global electrohydraulic pump market. Electrohydraulic pumps offer superior efficiency compared to traditional hydraulic systems, resulting in lower energy consumption and reduced operational costs.

This efficiency is critical in sectors like manufacturing and automotive, where energy usage is a substantial part of operational expenses. For example, the U.S. Department of Energy has highlighted that manufacturing industries consume approximately 25% of the nation’s energy, and improvements in hydraulic system efficiencies can significantly reduce this consumption.

Expansion of Electric and Hybrid Vehicles

The rise in the production and adoption of electric and hybrid vehicles is another major driver. Electrohydraulic pumps are increasingly used in these vehicles due to their ability to provide precise control and improve fuel efficiency.

According to the International Energy Agency (IEA), the global electric car stock surpassed 10 million in 2020, representing a 43% increase over 2019. This growth is expected to continue, driven by government policies and consumer demand for environmentally friendly transportation options, thereby boosting the demand for electrohydraulic pumps in the automotive sector.

Electro-hydraulic Pumps Market: Restraints

High Initial Costs

Despite their benefits, the high initial costs of electrohydraulic pump systems can be a barrier to market growth. The integration of advanced technologies and materials necessary for these pumps increases their price compared to traditional hydraulic systems.

This can be a significant deterrent for small and medium-sized enterprises (SMEs) that may lack the capital to invest in such advanced equipment. The European Commission’s report on SME performance indicates that high capital costs are a common barrier to technology adoption among smaller firms.

Technical Complexity and Maintenance Requirements

The complexity of electrohydraulic systems can also act as a restraint. These systems require specialized knowledge for installation, operation, and maintenance, which can be challenging for industries with limited technical expertise. Additionally, the need for regular maintenance to ensure optimal performance can increase operational costs and downtime.

According to a report by the International Federation of Robotics (IFR), companies often face challenges in maintaining advanced automated systems due to a shortage of skilled technicians, impacting the broader adoption of electrohydraulic pumps.

Electro-hydraulic Pumps Market: Opportunities

Advancements in Smart and Connected Technologies

The integration of smart technologies and the Internet of Things (IoT) presents significant opportunities for the electrohydraulic pump market. Smart electrohydraulic pumps equipped with sensors and connectivity features can provide real-time data on system performance, enabling predictive maintenance and reducing downtime.

The global push towards Industry 4.0, characterized by the automation and data exchange in manufacturing technologies, supports the adoption of such advanced systems. According to the World Economic Forum, the Industry 4.0 market is projected to grow substantially, creating a favorable environment for the adoption of smart electrohydraulic pumps.

Growing Construction and Infrastructure Projects

The surge in construction and infrastructure development projects globally presents a considerable opportunity for the electrohydraulic pump market. These pumps are essential in various construction equipment and machinery due to their efficiency and control.

The Global Infrastructure Hub, an initiative of the G20, estimates that global infrastructure investment needs will reach $94 trillion by 2040, driven by urbanization and economic development. This immense investment in infrastructure will likely lead to increased demand for advanced hydraulic systems, including electrohydraulic pumps, to enhance efficiency and performance in construction activities.

Electro-hydraulic Pumps Market: Segmentation Analysis

Based on type, the Global Electro hydraulic pump market is segmented into Wound Field Motors, Permanent Magnet Motors, and Variable Displacement. Among all these segments Permanent Magnet Motors held the highest market share in 2023 due to their superior efficiency and performance.

They are widely preferred in applications requiring high precision and reliability, such as in electric power steering and various industrial machinery. Permanent magnet motors offer better energy conversion efficiency and lower operational costs, making them ideal for modern, energy-conscious industries.

According to the U.S. Department of Energy, permanent magnet motors can be 5-10% more efficient than traditional wound field motors, contributing to their leading position in the market. Variable displacement electrohydraulic pumps are the fastest growing due to their adaptability and energy-saving capabilities.

These pumps can adjust the flow and pressure according to the system’s needs, enhancing efficiency and performance in diverse applications.

The growing emphasis on energy efficiency and the need for versatile hydraulic solutions in industries such as construction and manufacturing drive the demand for variable displacement pumps. The push towards smart and adaptive systems in Industry 4.0 further accelerates their growth.

Based on End Use, the Global Electro hydraulic pump market is segmented into Electric Power Steering, Electro-Hydraulic Systems and Circuits, and Metal Forming. Among all these segments Electric Power Steering held the highest market share in 2023 driven by the automotive industry’s shift towards electrification and advanced driver-assistance systems (ADAS).

EPS systems are increasingly used in modern vehicles to improve fuel efficiency and reduce emissions. The International Energy Agency (IEA) reports that electric vehicles are projected to account for 30% of new vehicle sales by 2030, boosting the demand for efficient electrohydraulic pumps in EPS systems.

The electro-hydraulic system and circuits subsegment is growing rapidly due to the expanding use of automated and smart hydraulic systems in industrial applications. These systems offer precise control and flexibility, essential for modern manufacturing and industrial processes.

The integration of IoT and smart technologies in hydraulic systems, as highlighted by the World Economic Forum’s Industry 4.0 initiatives, is driving rapid growth in this subsegment.

Based on Application, the Global Electro hydraulic pump market is segmented into Buses and Coaches Vocational Vehicles, Construction, and Agricultural Equipment. Among all these segments Construction held the highest market share in 2023 due to the extensive use of electrohydraulic pumps in construction machinery and equipment.

The global construction industry’s growth, driven by urbanization and infrastructure development, fuels the demand for efficient hydraulic systems. The Global Infrastructure Hub’s projection of $94 trillion needed for global infrastructure investment by 2040 underscores the robust demand in this sector.

Agricultural equipment is the fastest growing application subsegment, driven by the increasing adoption of precision farming and advanced agricultural machinery. Electrohydraulic pumps are essential in modern agricultural equipment for tasks such as planting, harvesting, and soil preparation.

The Food and Agriculture Organization (FAO) emphasizes the need for advanced agricultural technologies to meet the growing food demand, promoting the rapid adoption of electrohydraulic systems in this sector. The push towards sustainable and efficient farming practices further accelerates the growth in this subsegment.

Report Scope

Electro-hydraulic Pumps Market: Regional Analysis

North America stands as the leading region in the global electrohydraulic pump market, driven by its advanced industrial base and significant investments in the automotive and manufacturing sectors. The United States, in particular, has a robust automotive industry that continuously seeks improvements in fuel efficiency and vehicle performance.

The U.S. Department of Energy’s focus on energy efficiency and the push for electric and hybrid vehicles have spurred the demand for electrohydraulic pumps, especially in applications like electric power steering. Furthermore, the presence of major manufacturers and technological advancements in industrial automation support the dominance of this region.

Additionally, the manufacturing sector in North America is known for its high adoption of advanced technologies, including electrohydraulic systems. Industries such as aerospace, construction, and heavy machinery have substantial requirements for precise and efficient hydraulic systems, further boosting the market.

Government initiatives and regulations promoting energy efficiency and the reduction of emissions also contribute to the strong market position of North America.

The Asia Pacific region is the fastest-growing market for electrohydraulic pumps, propelled by rapid industrialization and urbanization. Countries like China, India, and Japan are experiencing significant growth in infrastructure projects and automotive production, driving the demand for advanced hydraulic systems.

The construction industry in these countries is booming, with large-scale infrastructure projects underway, necessitating the use of efficient and high-performance electrohydraulic pumps. According to the Asian Development Bank, Asia’s infrastructure needs are estimated to be around $1.7 trillion per year until 2030, highlighting the massive potential for growth in this sector.

Moreover, the automotive industry in Asia Pacific is expanding rapidly, with increasing production of both conventional and electric vehicles. China, being the largest automotive market in the world, has a significant impact on the demand for electrohydraulic pumps.

The Chinese government’s push for electric vehicles, as part of its strategy to combat pollution and reduce dependency on fossil fuels, further accelerates market growth. The International Energy Agency (IEA) notes that China is a leader in electric vehicle adoption, which bodes well for the electrohydraulic pump market in the region.

The manufacturing sector in Asia Pacific is also embracing automation and advanced manufacturing technologies. Countries like Japan and South Korea are at the forefront of industrial robotics and smart manufacturing, which require precise and efficient hydraulic systems.

The growing trend of Industry 4.0 and the integration of IoT in manufacturing processes are key factors driving the rapid adoption of electrohydraulic pumps in this region. This technological advancement, coupled with economic growth and supportive government policies, cements Asia Pacific’s status as the fastest-growing market for electrohydraulic pumps.

Electro-hydraulic Pumps Market: Recent Developments

• In May 2024, Bosch Rexroth, a leader in drive and control technologies, announced the launch of its new range of smart electrohydraulic pumps. These pumps are equipped with advanced IoT sensors and connectivity features, allowing for real-time monitoring and predictive maintenance. This innovation aims to reduce downtime and increase the efficiency of industrial applications, addressing the growing demand for smart and connected hydraulic systems in the manufacturing and construction sectors.

• In April 2024, Eaton Corporation announced the expansion of its manufacturing facilities in Pune, India, to cater to the increasing demand for electrohydraulic pumps in the Asia Pacific region. This expansion includes the establishment of a state-of-the-art production line for variable displacement pumps, which are increasingly sought after in the automotive and construction industries.

• In March 2024 Parker Hannifin, a global leader in motion and control technologies, completed the acquisition of Berendsen Fluid Power. This acquisition is expected to enhance Parker Hannifin’s product portfolio and expand its market reach in North America. Berendsen Fluid Power’s expertise in hydraulic systems, including electrohydraulic pumps, complements Parker Hannifin’s existing offerings, enabling the company to provide more comprehensive solutions to its customers in the industrial and mobile equipment sectors.

• In February 2024, Danfoss introduced a new range of electrohydraulic pumps specifically designed for agricultural equipment. These pumps feature advanced control systems and improved efficiency, aimed at enhancing the performance of machinery used in precision farming. Danfoss’s new product line addresses the growing demand for efficient and reliable hydraulic systems in the agricultural sector, driven by the increasing adoption of modern farming techniques.

• In January 2024, Hydac, a leading provider of fluid power solutions, launched its new eco-friendly electrohydraulic pump solutions. These pumps are designed to minimize environmental impact by reducing energy consumption and using biodegradable hydraulic fluids. The launch is part of Hydac’s commitment to sustainability and responds to the rising demand for environmentally friendly industrial solutions. These new pumps are targeted at sectors such as construction, mining, and manufacturing, where there is a growing focus on reducing carbon footprints and adhering to stringent environmental regulations.

List of the prominent players in the Electro-hydraulic Pumps Market:

• Bosch Rexroth
• Bucher Hydraulics
• Danfoss Power Solutions
• Duplomatic Toselli
• Eaton
• Flowserve (United States)
• HAWE Hydraulik
• Hengli Hydraulic (China)
• Hydac International
• Hydro-Line
• Interpump Group
• Linde Hydraulics (Germany)
• Moog
• Nachi (Japan)
• Nachi (Japan)
• Parker Hannifin
• Penta KYB (Japan)
• PSG Dover (United States)
• Sun Hydraulics (United States)
• Tolomatic
• Others

These key players are adopting various organic and inorganic growth strategies such as mergers & acquisitions, joint ventures, expansion, strategic alliances, new product launches, etc. to enhance their business operations and revenues.

The Electro-hydraulic Pumps Market is segmented as follows:

By Type

• Wound Field Motors
• Permanent Magnet Motors
• Variable Displacement

By End Use

• Electric power steering
• Electro-Hydraulic system and circuits
• Metal Forming

By Application

• Buses and coaches and Vocational vehicles
• Construction
• Agricultural equipment

Regional Coverage:

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Russia
• Italy
• Spain
• Netherlands
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Taiwan
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America