Automotive Hydrostatic Fan Drive System Market to Reach $620.3 Mn, Globally, by 2025 at 6.3% CAGR, Says Allied Market Research
PORTLAND, Oregon, November 7, 2018 /PRNewswire/ --
Increased focus of government on lowering emissions, rise in demand for hydrostatic fans, and development of new technologies for reducing carbon dioxide (CO2) emission drive the growth of the global automotive hydrostatic fan drive system market.
Allied Market Research published a report, titled, Automotive Hydrostatic Fan Drive System Market by Vehicle Type [On Road Vehicles (Bus, and Truck), Off Road Vehicles (Construction & Mining, and Agricultural), Train, Metro and Trams] and Component (Variable Axial Piston Pump, Fixed Gear Motor, Engine Control Unit, Oil Cooler, and Hydraulic Valves & Sensors), and Pump Type (Fixed Displacement Pump and Variable Displacement Pump): Global Opportunity Analysis and Industry Forecast, 2018-2025. The report offers detailed analyses of the top impacting factors, driving forces & analysis, key market segments, and competitive landscape. According to the report, the global automotive hydrostatic fan drive system market was valued at $377.2 million in 2017 and is expected to reach $620.3 million by 2025, registering a CAGR of 6.3% from 2018 to 2025.
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Proactive measures by government bodies on lowering emissions, increase in demand for hydrostatic fans, and development of new technologies for reducing carbon dioxide (CO2) emission drive the growth of the market. However, high initial & maintenance costs and rise in adoption of electric vehicle across the globe restrain the market growth. Moreover, opportunities in African countries and technological advancements in hydraulic system for lowering CO2 emission create new pathways for the market.
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Off-road vehicles: highest revenue-generating segment through 2025
Off-road vehicles segment contributed more than half of the total market share in 2017, owing to rise in demand from industries such as construction & mining and agriculture. This segment is expected to maintain its dominance throughout the forecast period. However, train & metro and trams would register the highest CAGR of 10.2% from 2018 to 2025 due to the increased demand for passenger carrying vehicles and government funding for better connectivity between two cities. The on-road vehicles segment is expected to grow at a steady rate during the forecast period.
Fixed gear motor segment to lead during the forecast period
Fixed gear motor segment accounted for nearly half of the total market share in 2017 and is expected to maintain its dominance by 2025. This is due to the rise in production and prices of this component. However, hydraulic valves & sensors segment would register the highest CAGR of 10.6% from 2018 to 2025, owing to technological advancements that would augment dependence on valves and sensors. The research also analyzes the variable axial piston pump, engine control unit, and oil cooler segments.
Fixed displacement pump segment to grow the fastest by 2025
Fixed displacement pump segment would grow at the fastest CAGR of 7.0% from 2018 to 2025, owing to higher accuracy as compared to other pump types. Variable displacement pump segment accounted for the major share in 2017, contributing more than half of the total market share, owing to its ability to vary pressure, density, and viscous liquid as per the requirements to achieve efficiency.
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Asia-Pacific to lead in terms of revenue by 2025
Rise in R&D activities, increase in production of heavy commercial vehicles, and higher adoptive rate as compared to other regions have enabled the Asia-Pacific region to contribute the highest revenue in 2017. It contributed nearly half of the total market share in 2017. However, LAMEA region would register the fastest CAGR of 9.7% from 2018 to 2025, owing to the huge untapped potential and rise in demand from Africa.
Torchbearers of the industry
The key market players analyzed in the research include Eaton, JTEKT HPI, Parker Hannifin, Hydraforce Hydraulics, Roxroth Bosch, Bucher Hydraulics, Danfoss, Quality Hydraulics & Pneumatics, Concentric, and Casappa. These market players have adopted various strategies including partnership, collaboration, expansion, joint ventures, and others to gain a strong position in the industry.
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