Increase in demand hydrostatic fan drive system, proactive measures by government bodies on reducing emission, and untapped opportunities in African countries are expected to propel the growth of the market. The train and metro and trams segment would register the fastest CAGR of 10.2% during the forecast period. On the other hand, However, the market across LAMEA region is estimated to register the fastest CAGR of 9.7% from 2018 to 2025.
Portland, OR, June 26, 2019 (GLOBE NEWSWIRE) -- According to the report, the global automotive hydrostatic fan drive system market accounted for $377.2 million in 2017 and is anticipated to garner $620.3 million by 2025, growing at a CAGR of 6.3% from 2018 to 2025.
Rise in demand for the hydrostatic fan drive system, proactive measures by government bodies on lowering emissions, and development of new technologies for reducing CO2 emission have boosted the growth of the market. However, high initial & maintenance cost and adoption of electric vehicle hamper the market growth. On the contrary, untapped opportunities in African countries and technological advancements in hydraulic system for lowing CO2 emission are expected to create new pathways in the future.
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The market is segmented on the basis of vehicle type, pump type, component, and region. Based on vehicle type, the market is divided into on-road vehicles, off-road vehicles, and train and metro and trams. The off-road vehicles segment held the largest share in 2017, contributing more around three-fifths of the market. However, the train and metro and trams segment would register the fastest CAGR of 10.2% during the forecast period.
On the basis of pump type, the market is categorized into fixed displacement pump and variable displacement pump. The variable displacement pump segment dominated the market in 2017, accounting for nearly three-fifths of the market. However, the fixed displacement pump segment is projected to manifest the fastest CAGR of 7.0% during the study period.
Based on component, the market divided into variable axial piston pump, fixed gear motor, engine control unit, oil cooler, and hydraulic valves & sensors. The fixed gear motor segment held the largest share in 2017, contributing nearly half of the market. However, the hydraulic valves & sensors segment is projected to manifest the fastest CAGR of 10.6% through 2025.
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The market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across the Asia-Pacific region held the largest share in 2017, accounting for more than two-fifths of the market. However, the market across LAMEA region is estimated to register the fastest CAGR of 9.7% from 2018 to 2025.
The report includes analysis of the major market players such as JTEKT HPI, Eaton, Hydraforce Hydraulics, Parker Hannifin, Bucher Hydraulics, Rexroth Bosch, Quality Hydraulics & Pneumatics, Danfoss, Concentric, and Casappa.
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