According to a recent report published by Allied Market Research, titled, “Automotive Hydrostatic Fan Drive System Market by Vehicle Type, Component, and Pump Type: Opportunity Analysis and Industry Forecast, 2020-2027,”the global automotive hydrostatic fan drive system market size was valued at $398.1million in 2019, and is projected to reach $571.5million by 2027, registering a CAGR of 6.0% from 2020 to 2027.
By region, Asia-Pacificdominated the market, followed byNorth America, Europe andLAMEA in 2019.Chinadominated the Asia-Pacificautomotive hydrostatic fan drive system market share in 2019, andAfrica is anticipated to exhibit a remarkable growth during the forecast period.
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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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