Electrohydraulic Pumps Introduction
- Electrohydraulic pumps (EHP) are the advanced version of the hydraulic pump, which reduces emissions and fuel consumption. Electrohydraulic pumps are primarily designed or developed for all electric mobile applications and hybrid electric applications.
- Electrohydraulic pump systems comprise an electric motor directly joined to a hydraulic pump, which is controlled through a high performance mobile hardened drive.
- The global electrohydraulic pumps market is predicted to expand at a rapid pace during the forecast period owing to increased demand for electrohydraulic pumps in different applications such as electric power steering, and electro-hydraulic systems and circuits.
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Electrohydraulic Pumps Dynamics
Key Drivers of the Electrohydraulic Pumps Market
- Increasing shift toward electrohydraulic pumping units has impelled growth in the electrohydraulic pump market. This in turn is expected to propel the demand for electrohydraulic pumps in the next few years. This is primarily because the mobile hydraulic systems use a gas or diesel engine along with hydraulic pump; thus, it reduces fuel consumption and carbon dioxide emission.
- Additionally, equipment manufacturers are also shifting toward electrohydraulic solutions, which is expected to fuel the market in the forthcoming years. This is mainly because electrohydraulic pumps are up to 80% more efficient than their traditional counterparts.
- Electrohydraulic pumps provide power-on-demand functionality i.e. the electrohydraulic motor pump only spins when flow and pressure are required for work functions. This is another major factor expected to fuel the electrohydraulic pumps market globally.
- Electrohydraulic pumps have the ability to control the amount and direction of hydraulic flow by controlling speed and direction of the electric motor. This is the major factor anticipated to propel the electrohydraulic pump market globally.
- Increasing awareness about electrohydraulic pumps features is further anticipated to fuel the market growth among different applications.
Lack of Knowledge Hindering the Growth of the Electrohydraulic Pumps Market
- The fall in oil prices in the past few years drastically impacted the pump industry; this in turn is projected to hamper the growth of the electrohydraulic pumps market across the globe.
- Lack of knowledge about the features of electrohydraulic pumps among consumers is the major factors projected to hinder the growth of the electrohydraulic pumps market in the next few years.
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North America to Hold Major Share of the Global Electrohydraulic Pumps Market
- In terms of region, the global electrohydraulic pumps market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- North America is a dominating market for electrohydraulic pumps where the U.S. is the key market due to the industrialization and technological advancement in the country.
- The electrohydraulic pumps market in Asia Pacific is predicted to expand at a rapid pace in terms of CAGR during the forecast period, followed by Europe and North America. This can be attributed to increasing infrastructure development across developing countries such as India and China, which is anticipated to propel the industry segment of the electrohydraulic pumps market across the region.
Electrohydraulic Pumps Market- Competitive Landscape
Key Players Operating in the Global Electrohydraulic Pumps Market
The market is highly competitive due to the presence of a large number of local, regional, and international manufacturers operating in the global electrohydraulic pumps market. Thus, the intensity of competition is high among these manufacturers. Moreover, rapid technological advancements have led to the threat of substitution in the electrohydraulic pumps market. Electrohydraulic pumps manufacturers are focused on product differentiation and portfolio expansion strategies. Key players operating in the global electrohydraulic pumps market include:
- Bosch Rexroth AG
- Allied Motion
- Parker Hannifin Corporation
- Vetus Inc.
- Cembre S.p.A.
- Rittal Inc.
- Hansa-tmp srl
- Gemini Power Hydraulics Private Limited
- Mile-X Equipment, Inc.
- Intercable GmbH
Electrohydraulic Pumps Market: Research Scope
Electrohydraulic Pumps Market Segmentation – by Motor Type
- Wound Field Motors
- Permanent Magnet Motors
Electrohydraulic Pumps Market Segmentation – by Application
- Electric power steering
- Buses and Coaches
- Vocational Vehicles
- Electrohydraulic systems and circuits
- Street Sweepers
- Material Handling
- Refuse Trucks
- Agricultural Equipment
Electrohydraulic Pumps Market Segmentation - by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.