Press release
Global Hydrostatic Transmission Market Size To Grow At A CAGR Of 4.8% In The Forecast Period Of 2022-2027
The key highlights of the report include:
Market Overview (2017-2027)
• Forecast CAGR (2022-2027): 4.8%
The global hydrostatic transmission market is expected to register growth during the forecast period on account of the growth of the agricultural, transportation, and construction industries. Hydrostatic transmission systems help in the operations of power generation systems, wind turbine generators, railway vehicles, engine generators, and ships, among others. Over the past few years, the demand for large-capacity hydrostatic transmission has been driving significant market growth across the globe.
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The surging demand for hydrostatic transmission across industries is expected to support the growth of the hydrostatic transmission market all over the world in the upcoming years. The growing adoption of mid-size heavy-duty machines and equipment with hydrostatic transmission is expected to gain momentum in the market growth of hydrostatic transmission.
The rising investments in tractors and agricultural mechanisation across various regions across the world are further expected to support the market growth of hydrostatic transmission. With the growing agricultural industry and emerging farms, the demand for upgraded and modern tractors is increasing.
Hydrostatic Transmission Industry Definition and Major Segments
A hydrostatic transmission is a hydraulic system where the hydraulic accumulator or pump drives the motor, using fluid that is passed through flexible hoses. Gears are not required to transform the rotating mechanical energy from one source to another, as the pump and motor are fixed, and hydrostatic transmission itself acts as a gearbox.
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Based on capacity type, the market is segmented into:
• Light Duty
• Medium Duty
• Heavy Duty
By operation, the market is classified into:
• VDM-CDP
• VDP-CDM
• VDM-VDP
On the basis of end use, the market is segmented into:
• Transportation
• Construction
• Mining
• Agriculture
• Others
Based on region, the market is divided into:
• North America
• Latin America
• Asia Pacific
• Europe
• Middle East and Africa
Hydrostatic Transmission Market Trends
The rapid infrastructural development as well as the growing urbanisation, especially in emerging economies, are enhancing the demand for innovative construction equipment, and machines integrated with advanced technology. Heavy equipment and machines, like excavators, forklifts, tractors, and wheel loaders, are on a rise, aiding the growth of the hydrostatic transmission market.
The growing usage of remote-control operations among heavy equipment is expected to fuel the demand for hydrostatic transmission systems. Hydrostatic transmission is beneficial for less-experienced staff drivers with a gear-free handling experience. The demand for the inclusion of hydrostatic transmission systems in agricultural machinery and equipment is likely to increase due to the surging application of heavy-powered attachments, like sprayers and aerators.
Geographically, the Asia Pacific region is anticipated to drive the hydrostatic transmission market growth over the coming years. This is due to the increase in the demand for heavy lifting equipment from several industries. Moreover, emerging economies like India and China are heavily investing in the expansion of new as well as improved infrastructure and roads requiring advanced and heavy equipment and machinery.
Key Market Players
The major players in the hydrostatic transmission market report are:
• Parker Hannifin Corp
• Dana Incorporated
• Eaton Corporation plc
• Komatsu America Corp.
• Kawasaki Heavy Industries, Ltd.
• Tuff Torq Corporation
• Others
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter's Five Forces Models.
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