Press release
Automotive Hydrostatic Fan Drive System Market Size is projected to reach $571.5million by 2027, registering a CAGR of 6.0% from 2020 to 2027
According to a recent report published by Report Ocean, 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.GET SAMPLE PAGES @ https://reportocean.com/industry-verticals/sample-request?report_id=AMR1335
By region, Asia-Pacific dominated the market, followed by North America, Europe and LAMEA in 2019. China dominated the Asia-Pacific automotive hydrostatic fan drive system market share in 2019, and Africa is anticipated to exhibit a remarkable growth during the forecast period.
In internal combustion engines, most of the energy is lost due to the inefficiencies such as heat and only around 30% of the input energy is actually converted into mechanical power. For heavy vehicles, significant amount of horsepower is required for cooling system and it increases the noise level of the machine. For Tier 4 engines, the demand for efficient cooling system provides greater machine efficiency and quieter operation have increased. Also, conventional fan drives overcool under most condition to provide inadequate cooling during the more high heat operation conditions. In addition, hydrostatic fan drive systems offer control and fan speed varies according to the cooling demand of the engine. Due to this features of hydrostatics fan drive system, it consumes less power, increases fuel efficiency, and operating efficiency of the machine.
Increase in the use of the vehicle electronic control system in buses due to CAN-based control platforms is propelling the growth of the automotive hydrostatic fan drive system market in the on-road vehicle segment. For instance, Parker Hannifin, a global leader in motion and control technologies, offers a variety of CAN bus-based control platforms that can be integrated with the fan drive hydraulics. The installation of fan drive systems in vehicles reduces the diagnostic time & cost and increases efficiency by monitoring the performance. The fan drive facilitates buses with more functionality such as fan reversing with ramp, automated & manual fan reversing, and multiple fan location with independent control. These latest innovations in the field of coolant engine system are expected to create an opportunity in the coming years in the automotive hydrostatic fan drive system market for on-road vehicles.
Vehicle functional requirements, stringent emission regulations, and thermal limits for the off-road vehicles are the primary factors that are expected to drive the growth of the automotive hydrostatic fan drive system market. For instance, in April 2019, fan drive manufacturing company Horton showcased its LCX Series heavy-duty RCV1000 and RCV2000 variable-speed fan drives portfolio at Bauma 2019 (the world's largest construction machinery trade fair). LCX Series revealed the variable-speed design which rotates the fan at a wider range of speeds to match engine cooling demands more precisely. This new fan drive portfolio reduces fuel consumption, decreases noise and minimizes parasitic draw on the engine for increased working horsepower. The RCV1000 and RCV2000 were specifically designed for mining haul trucks and related heavy-duty, off-road equipment. Such trends are expected to create lucrative growth opportunities for the automotive hydrostatic fan drive system market.
To expand the reach and product offering, the leading hydraulic manufacturers are heavily investing in the hydraulics manufacturing companies, which is expected to fuel the growth of the automotive hydrostatic fan drive system market. For instance, in June 2018, HAWE Hydraulik acquired 55% shares of the Canadian-based hydraulic company, Hydra-Fab Fluid Power Inc. to expand its reach in the Canadian market.
This acquisition includes the scope of services such as electro-hydraulic systems and vehicle types, engineering, and others. Owing to development of the construction industry across the world, the production of high loader vehicles has increased, which is expected to drive the growth of the automotive hydrostatic fan drive system market. For instance, Japan produced nearly 407,410 heavy loader vehicles units in 2018, registering a 6.1% growth as compared to previous year.
Factors such as government regulations to reduce emission of harmful gases drives the growth of the automotive hydrostatic fan drive system market. In addition, high need for hydrostatic fan drive system propels the market growth. However, high initial and maintenance cost and adoption of electric vehicle across the globe hinders growth of the automotive hydrostatic fan drive system market. Further, growing demand for low-emission off-highway vehicles in LAMEA is expected to provide remarkable growth opportunities for players operating in the market.
COVID-19 impact analysis:
Disruption in the supply chain due to COVID-19 has significantly affected the automotive hydrostatic fan drive system market. Government imposed lockdown has affected the automotive hydrostatic fan drive system market as manufacturers across the globe has halted the manufacturing process and also unavailability of skilled labor owing to social distancing regulation.
Key Findings Of The Study
On the basis of vehicle type, the train metros and tramssegmentis anticipated to exhibit remarkable growth during the forecast period.
On the basis of component, the variable axial piston pump segment is the highest contributor to the global market in terms of revenue.
On the basis of region, LAMEA is the fastest growing region, followed by Europe, North America, and Asia-Pacific.
The key players analyzed in this report are Eaton Parker Hannifin , JTEKT HPI , Roxroth Bosch , Hydraforce Hydraulics , Danfoss , Bucher Hydraulics , Concentric AB , Quality Hydraulics & Pneumatics , Casappa S.p.A. , and others.
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