Press release
Automotive Hydrostatic Fan Drive System Market Size to Reach US$ 528.0 Million by 2028
Automotive Hydrostatic Fan Drive System Market
Report Highlights
How Big is the Automotive Hydrostatic Fan Drive System Market?
The global automotive hydrostatic fan drive system market size reached US$ 385.1 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 528.0 Million by 2028, exhibiting a growth rate (CAGR) of 5.1% during 2023-2028.
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What is Automotive Hydrostatic Fan Drive System?
An automotive hydrostatic fan drive system represents a critical component of an engine cooling system generally integrated into a vehicle that helps with sensors, lubrication, and controls. It maintains the optimal operating temperature of the engine when it gets heated up. An automotive hydrostatic fan drive system lowers the noise and heat generated by combustion engines. Hydraulic fan drives with electronically controlled systems and temperature-activated offer precise control while minimizing the fan speed. It usually enables commercial vehicles, mobile equipment, and coaches to meet strict guidelines concerning emissions and noise. As such, an automotive hydrostatic fan drive system finds wide-ranging applications in numerous industries, including transportation, agriculture, construction, etc.
What are the growth prospects and trends in the automotive hydrostatic fan drive system industry?
The escalating demand for low-emission vehicles is primarily catalyzing the automotive hydrostatic fan drive system market. Additionally, the increasing consumer inclination towards fuel-efficient, noiseless, and independently operating engine cooling systems in off-highway automobiles is further bolstering the market growth.
Besides this, the implementation of stringent regulations regarding vehicle emissions by government bodies across countries and continuous technological advancements in automotive engine manufacturing are acting as significant growth-inducing factors. Moreover, the inflating need for sustainable development and reducing carbon dioxide (CO2) emissions and the widespread adoption of hydrostatic fan drive systems in construction equipment are positively influencing the global market.
Apart from this, the introduction of hybrid engines and the growing disposable income levels of individuals are also propelling the market growth. Furthermore, the development of electric vehicles (EVs) is expected to fuel the automotive hydrostatic fan drive system market over the forecasted period.
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What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Component:
Variable Axial Piston Pump
Fixed Gear Motor
Engine Control Unit
Oil Cooler
Hydraulic Values and Sensors
Breakup by Pump Type:
Fixed Displacement Pump
Variable Displacement Pump
Breakup by Vehicle Type:
On-Road Vehicles
Bus
Truck
Off-Road Vehicles
Construction and Mining
Agricultural
Train, Metro and Trams
Market Breakup by Region:
North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
Axiomatic Technologies Corporation
Bondioli & Pavesi S.p.A.
Bosch Rexroth Aktiengesellschaft (Robert Bosch GmbH)
Bucher Hydraulics (Bucher Industries AG)
Casappa S.p.A.
Concentric AB
Danfoss
JTEKT Corporation (Toyota Group)
Parker Hannifin Corporation
Quality Hydraulics & Pneumatics Inc.
Walvoil S.p.A (Interpump Group S.p.A)
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If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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