The automotive hydrostatic fan drive system market is projected to grow at a CAGR of 6.80% during the forecast period, to reach USD 229.6 Million by 2025. The market growth is primarily driven by factors such as the increased incorporation of independent and silent engine cooling system for off-highway vehicles and the increased demand for a fuel-efficient engine cooling system.
Increasingly stringent emission norms and regulations have accentuated the need for an effective cooling system that maintains the desired engine temperature to ensure complete combustion of fuel. The hydraulic fan drive system is independent of the engine RPM, unlike the traditional belt-driven fan system that produces airflow depending on the engine RPM and not the cooling demand. The adoption of hydraulic fan drive system is rising as the most efficient way to maintain the desired engine temperature. This system is also capable of reversing the air flow to clean the radiator periodically and ensure optimal radiator efficiency.
The Asia Pacific region is estimated to be the fastest growing market, in terms of value, for automotive hydrostatic fan drive systems. The Asia Pacific region is estimated to be the most promising market for automotive hydrostatic fan drive system during the next seven years due to strong growth in vehicle sales year on year. Additionally, the increasing infrastructural development, particularly in developing countries such as China and India, is expected to drive the growth of the automotive hydrostatic fan drive system market in the region. In addition, the increasing demand for an independent engine cooling system in off-highway vehicles and growing demand for a fuel-efficient engine cooling system to meet the stringent emission norms in the developing countries are contributing to the growth of the automotive hydrostatic fan drive system market in this region. The market is dominated by a few globally established players such as Eaton (Ireland), Parker Hannifin (US), JTEKT (Japan), Bosch (Germany), Danfoss (Denmark), and a few other players such as Concentric (Sweden), Bucher Hydraulics (Germany), Hawe Hydraulik (Germany), Walvoil (Italy), Bondioli & Pavesi (Italy), Enovation Controls (US), Hydac International (Germany), and Casappa (Italy).
Construction equipment is projected to be the fastest-growing segment of the automotive hydrostatic fan drive system market. This segment is estimated to have the highest growth potential in the hydrostatic fan drive system market across the globe. The growing demand for a temperature sensitive cooling system in construction equipment has accelerated the growth of the hydrostatic fan drive system. These vehicles perform most of the tasks in a stationary position at a high engine rpm. The key players have an opportunity to cater to the developing regions by offering the complete product range at economical prices.
Related Reports:
Automotive Hydrostatic Fan Drive System Market by Component, Pump Type (Fixed Displacement and Variable Displacement), Vehicle Type (Buses, Construction Equipment, and Agricultural Tractors), and Region - Global Forecast to 2025
Contact:
Mr. Rohan
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]
