The gear pump market size is projected to reach US$ 15.4 billion by 2031 from US$ 11.22 billion in 2024. The market is expected to register a CAGR of 4.9% during 2025-2031. Rising demand for energy-efficient solutions is likely to bring new key trends in the market in the coming years.
The demand for gear pumps is increasing in various industries worldwide as they are highly efficient in transferring fluids, offering consistent flow and pressure with minimal slippage. The chemical and petrochemical industries are experiencing tremendous growth worldwide; these industries are prominent end users of gear pumps. Furthermore, to provide an enhanced product portfolio and to expand their presence, manufacturers continuously focus on inorganic growth strategies such as mergers and acquisitions, which are expected to create growth opportunities for them in the coming years. Also, a surge in oil and gas exploration activities worldwide is expected to fuel the market growth in the coming years. Moreover, technological advancements in gear pumps to enhance their efficiency, reliability, and adaptability to be able to meet the changing demands of various industries would further propel the growth of the gear pump market in the near future.
A gear pump is a positive displacement pump that moves fluids through interlocking gears. Unlike centrifugal pumps, which generate flow by rotating an impeller, gear pumps aid the flow by trapping fluid between the teeth of rotating gears and the pump casing. This mechanism offers a continuous and exact flow rate, rendering the suitability of gear pumps in a variety of applications. There are two types of gear pumps: exterior and internal. Although both types are designed to manage differing fluid viscosities and working conditions, they operate on the same basic concept. Gear pumps have various features that make them a popular choice for many industrial applications. They provide a consistent and precise flow rate, which is particularly essential in applications that require accurate fluid delivery. They can also function at high pressure, making them ideal for tough tasks. Gear pumps can handle an array of fluids, from low-viscosity solvents to high-viscosity oils and adhesives, and their durable design provides long-term performance even in severe settings. Furthermore, their basic design results in a lower possibility of parts wear-off and easier maintenance.
Gear pumps are critical in numerous industrial and mechanical applications. These pumps use interlocking gears to transport fluids throughout a system. Gear pumps are noted for their dependability, efficiency, and ability to handle a broad variety of fluids, including high-viscosity substances. Their volumetric efficiencies often surpass 90%, which remains consistent throughout a wide range of viscosity values. Nonetheless, they excel at managing both thin and thick liquids. Thin liquid gear pumps perform well with water-like fluids.
As global energy demands rise, oil and gas exploration and production activities are increasing significantly across the world. According to the IEA Oil Market Report (OMR) published in 2024, the global oil demand is set to surge from 840 kb/d in 2024 to 1.1 mb/d in 2025, further propelling the consumption to 103.9 mb/d in 2025. Refinery throughputs will hit an annual peak of 84.3 mb/d in December 2025, roughly 3 mb/d higher than that in October, when maintenance and economic run cuts constrained activity. Crude runs will average 82.7 mb/d in 2024 and 83.3 mb/d in 2025, an increase of 520 and 620 kb/d, respectively. Thus, the flourishing oil and gas industry is expected to propel the demand for gear pumps, thereby creating lucrative opportunities for the market in the coming years.
Key segments that contributed to the derivation of the gear pump market analysis are solution, material, and industry.
The geographical scope of the gear pump market report offers a detailed global analysis. North America, Europe, and Asia Pacific are major regions witnessing significant growth in the gear pump market.
North America witnessed tremendous growth in electric vehicle sales in 2023. According to the International Energy Agency’s (IEA) annual Global EV Outlook 2024, new electric car registrations in the US reached 1.4 million in 2023, accounting for a rise of more than 40% compared to 2022. In addition, the region is witnessing tremendous growth in its natural gas industry. According to the IEA, the domestic natural gas production in North America in 2022 was 44,377,518 TJ, out of which the US and Canada accounted for 80.6% and 16.2%, respectively. Also, domestic natural gas production witnessed a growth trend of 69% from 2000 to 2022. Thus, the growth in the automotive and natural gas industry bolsters the gear pump market in North America.
Europe is witnessing tremendous growth in the oil and gas industry. According to the IEA, Europe's domestic crude oil production was 24% of the total crude oil supply in 2022. Also, the total crude oil production in Europe in 2022 was 6,700,159 TJ. According to the European Commission, in 2022, the EU's total crude oil imports were 479.6 Mt. In addition, the water and wastewater industry is gaining traction at a fast pace in the region. In March 2023, with the Urban Water Catalyst Initiative, Germany launched the first global initiative to mobilize public and private investment for climate-resilient urban water utilities in the Global South. The initiative was launched with support from the Netherlands. The aim is to provide city dwellers in the growing cities of the Global South with access to safe drinking water and sanitation. Thus, the flourishing oil & gas and water & wastewater industries are expected to fuel the gear pump market growth in Europe in the coming years.
Asia Pacific is expected to record the highest CAGR in the gear pump market during the forecast period. The automotive industry is witnessing tremendous growth in this region. According to the data by the China Association of Automobile Manufacturers (CAAM), in 2023, China recorded an upsurge of 22% in the sales of its commercial vehicles, including exports, growing from 3.30 million units in 2022 to 4.03 million units in 2023. As per the Japan Automobile Dealers Association and the Japan Light Motor Vehicle and Motorcycle Association, 4.78 million new cars were sold in Japan in 2023, recording a rise of 13.8% year-on-year.
Companies in the MEA are continuously working on expanding their production plants. For instance, in July 2024, Saudi Aramco announced that they had made seven new oil and gas discoveries in Saudi Arabia's Eastern Province and Empty Quarter. The discoveries include two unconventional oil fields, one light Arabian oil reservoir, two natural gas fields, and two natural gas reservoirs. Furthermore, SAM is witnessing growth in its vehicle production.
The regional trends and factors influencing the Gear Pump Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Gear Pump Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2024 | US$ 11.22 Billion |
| Market Size by 2031 | US$ 15.4 Billion |
| Global CAGR (2025 - 2031) | 4.9% |
| Historical Data | 2021-2023 |
| Forecast period | 2025-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Gear Pump Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Gear Pump Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The gear pump market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the gear pump market are listed below:
The "Gear Pump Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:
The List of Companies - Gear Pump Market
The gear pump market is expected to reach US$ 15.40 billion in the year 2031.
The key players, holding majority shares, in gear pump market includes Bosch Rexroth AG, Danfoss AS, Parker Hannifin Corp., Eaton Corp Plc, and Viking Pump Inc.
The North America held the largest market share in 2024, followed by Europe.
The gear pump market was valued at US$ 11.22 billion in 2024 and is projected to reach US$ 15.40 billion by 2031; it is expected to grow at a CAGR of 4.9% during 2025–2031.
Integration of smart technology, modular designs, and advanced sustainable technologies are the future trends of the gear pump market.
Rising demand for energy-efficient solutions, and surging demand in petrochemical industry are the driving factors impacting the gear pump market.