Report Code: A16051 | Pages: NA | Jul 2023 | 2365 Views | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Gear Pump Market
Request Now !The gear pump market is expected to witness significant growth throughout the forecast period. A gear pump is a positive displacement pump that provides constant flow of fluid regardless of changes in pressure. Gear pumps can be used to generate high pressure of up to 3,000 psi. It is also capable of pumping high viscous fluids that cannot be pumped using centrifugal pumps. The use of gear pumps is further increased by its low initial and maintenance cost. Furthermore, gear pumps can run in both directions, so they can be used for loading and unloading purposes. Gear pumps are efficient owing to its capacity to pump high viscous fluid without leakage. Hydraulic gear pumps are suitable for use in construction and agriculture machinery. Gear pumps are also used in processing industry, mining equipment, and petrochemical industry. Major players in the industry are focused on development of gear pumps with more efficiency and durability.Â
Description
Gear pumps use the action of rotating gears to pump fluids. They deliver a smooth, pulse-free flow that is directly proportional to the rotational speed of gears. Â The rotating elements of the gear pumps develop a vacuum on the suction side, thereby trapping the liquid between the gear and casing. The fluid, which is drawn into the pump is enclosed within the cavities of the rotating gears and then discharged. Gear pumps consist of safety valve, which releases excess pressure to prevent damage to the pump.Â
COVID-19 Impact analysis
Top Impacting Factors
As the number of developing countries increases, the demand for residential and commercial buildings as well as infrastructure has increased significantly, thereby creating the demand for construction machinery. Increasing population has also fuelled the demand for minerals and metals. These factors have positively influenced the growth of gear pump market as they are extensively used in construction and mining machines. Furthermore, rise in increasing exploration of oil and gas has driven the growth of gear pump market. However, due to the use of machine meshing gears, hydraulic fluids cannot be pumped with the use of gear pumps, and the production of noise during the working of gear pumps is a major restraint on the growth of the industry. Furthermore, according to International Energy Agency (IEA), the global oil demand is expected to witness a decline of 8.6mb/d in 2020 due to COVID-19, but the demand is expected to rebound by 5.4 mb/d in 2021 and 3.1 mb/d in 2022, and by the end of 2022, the global oil demand is expected to surpass the pre COVID-19 level. Increase in demand for petrochemicals is expected to boost the gear pump industry throughout the forecast period.
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Gear Pump Market Report Highlights
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