The hydraulic gear pumps market in the UK has shown a diverse growth trajectory from 2013 to 2023, with the value standing at 57.825 million Euros in 2023. Up until 2023, the market experienced significant fluctuations, notably between 2017 and 2020, reaching its peak yearly growth of 24.93% in 2017, before decreasing by 14.04% in 2020 due to market deviations. Over the past five years, the average Compound Annual Growth Rate (CAGR) was 3.17%, with a notable CAGR decrease from prior high rates, indicating a stabilization phase.
From 2023 onward, the market is forecasted to grow with a steady projected CAGR of 2.5% over the next five years, reaching an estimated value of 67.799 million Euros by 2028. Trends indicate that, while the market is expanding, growth rates are moderating. This trend represents a shift towards maturity as the market progressively adapts to prevailing economic and industrial conditions.
Future Trends to Watch for:
- Advancements in pump efficiency and automation may drive demand.
- Environmental regulations might push for innovations in eco-friendly hydraulic systems.
- Economic fluctuations and global supply chain issues could impact growth rates.
