ID: MRFR/AM/4814-CR | 110 Pages | Author: Sejal Akre | October 2022
According to the MRFR analysis, the Global Hydrostatic Transmission Market size is projected to reach USD 7270.82 million by 2030 at a CAGR of 5.52%.
The method of turning mechanical energy into pressure energy with the aid of a fluid-powered transmission system to provide high torque at low speed is known as hydrostatic transmission. There are many industrial applications for hydrostatic transmission systems, including lifts, machines, motors, etc. The demand for heavy lifting equipment has grown along with the building and mining industries, and to lift this equipment, hydrostatic power is necessary. As a result, the market for hydrostatic transmission is supplemented by this.
As the Covid-19 crisis grew, the demand for hydrostatic transmission entered a negative phase. The sales volume in this market experienced a decline, potentially costing global manufacturers’ money. The leading manufacturers are attempting to make up for the losses suffered through product diversifications and innovations when the situation begins to normalize in 2021 as a result of strong and severe government measures. To retain and expand their respective market shares globally, well-known manufacturers are turning to contracts and agreements, research and development, technological improvements, and mergers and acquisitions.
To retain and expand their respective market shares globally, well-known manufacturers are turning to contracts and agreements, research and development, technological improvements, and mergers and acquisitions. For instance, Eaton Corporation declared the completion of its acquisition of Tripp Lite in March 2021. Eaton will be able to grow its power quality business in America thanks to this acquisition. The inability of conventional mechanical transmission systems to provide the precise power transmission required by off-road equipment has been a major contributing cause in the rise in popularity of hydrostatic transmissions with fluid coupling. Additionally, the adaptability of hydrostatic transmission makes it a desirable option for a variety of end users.
Hydrostatic transmission equipment is expensive. Therefore, only larger corporations can currently afford to buy and use it. The price will have to come down considerably before its adaptation and use becomes universal. Hydrostatic transmission equipment is widely used in heavy duty applications where high pressures operations are obvious. It can be unreasonably expensive to construct variable displacement pumps and motors with an exterior capable of withstanding such high pressures.
The fact that the automobile industry is increasingly investing in the research and development needed to make smart cars also helps. This industry needs hydrostatic transmission equipment to help make electric cars which are quickly becoming popular. It also needs this equipment to manufacture a new generation of cars which are more efficient and safer to drive. Hydrostatic transmission is electrically powered. Therefore, it’s safer than traditional petroleum and natural gas.
The value chain analysis for the hydrostatic transmission comprises of four major components which starts with the research and product development followed by manufacturing of the products, distribution, sales, and ends with post-sales services. In research & product development, the new techniques and researches are performed to make the products better and unique. The R&D team works on the improvements for new techniques that enhances the overall effectiveness of the system. In manufacturing and assembly process, the product strategies are ready and the manufacturing process of the product starts. Hydrostatic transmission consists of many components such as transmission case, a charge pump, the input shaft, axial piston pump and others. Distribution & sales is a most curtail part of the market. In the hydrostatic transmission market distribution and sale channel consists of intermediaries, direct selling, and others. . Many companies collaborate or come into partnership for the marketing of the product. Post sales monitoring plays a very important role in this market. As hydrostatic transmission market is very competitive market, the post the sale monitoring is must.
Based on the capacity, the market has been segmented into light duty, medium duty and heavy duty. Light-duty hydrostatic transmissions are offered by manufacturers as complete, all-in-one packages that include a fixed displacement radial ball piston hydraulic motor, a variable displacement radial ball piston hydraulic pump, and a full valve system. On the other hand, some of the features of medium duty hydrostatic transmission include variable displacement, servo controlled and fixed displacement. While features of heavy-duty hydrostatic transmission include bent axis – fixed displacement, bent axis – variable displacement fixed and variable displacement. Among them, heavy duty segment is the largest segment of the hydrostatic transmission market in 2021 and will continue to dominate during the forecast period.
Based on operation type, the hydrostatic transmission market has segmented into VDM-CDP, VDP-CDM and VDM-VDP. The only benefit of the fixed-displacement pump with fixed-displacement motor connection is its spatial flexibility. The transmission ratio of this combination remains constant. Therefore, the prime mover's speed must be altered to achieve variable output speed.
According to the circuit design, there are two types of hydrostatic transmission: closed-circuit and open-circuit. Reservoir, suction strainer, pressure relief valves, pump, motor, conduit with connectors, return line filter, and control unit are components of a straightforward open circuit transmission system. A closed-circuit transmission system needs a feed or charge pump unit and twin shock valves in addition to the requirements for an open circuit transmission system. VDM-CDP segmented held the largest market share in 2021 and will dominate during forecast period.
Depending on the end user, the market has been segmented into agriculture, construction & mining, logistics & transport and others. In construction machinery, the hydrostatic transmission has a number of benefits, including the ability to deliver variable output speed from a constant input speed, stepless speed changes, the ability to deliver constant output speed from variable input speed. Due to its high production capacity, optimized fuel economy, stability, and safety profile, hydrostatic transmissions have emerged as the industry standard for heavy machinery mining. Applications requiring variable output velocity or torque are suited for hydrostatic transmission. Golf course maintenance tools, harvesters, tractors, trenchers, agricultural, and heavy construction machinery are a few of these applications. Of them, construction & mining segment accounted for the largest share in the market in 2021 and expected to continue its dominance over the forecast duration.
The regions are classified as North America, Europe, Asia-Pacific, Middle East & Africa and South America. The North American region will see healthy growth in this industry. This is mostly because of the strong demand for heavy lifting equipment. This demand is expected to grow substantially in the future. It will be driven by an increase in construction and other activities that require this equipment. USA is the biggest contributor. European Hydrostatic transmission market is expected to grow in the region owing to rise in demand from end-user industries such as mining, construction and transport & logistics. Although the mining industry in Europe has a long history, it is currently one of the most cutting-edge and progressive economic sectors on the continent. The mining sector in Europe is essential to the continent's economic health. Germany is leading the market in Europe. Asia Pacific is expected to witness rapid growth of hydrostatic transmission market over the forecast duration. What’s spurring demand for this equipment is the need for systems that use fuel much more efficiently. India along with China and Japan is the major driver for hydrostatic transmission market in Asia Pacific. Middle East & Africa market for hydrostatic transmission is anticipated to benefit greatly from infrastructure development and rising demand for construction equipment. The need for hydrostatic transmissions is driven by the growth of the mining and construction industries as well as numerous geographic areas. Governments and organizations in South America are encouraging the region's building industry, which is anticipated to have a beneficial effect on the market for hydrostatic transmission. Asia Pacific accounted for the largest market share in 2021, the region is expected to register a dominant lead during the forecast period.
The global hydrostatic transmission market is characterized by the presence of many global, regional and local vendors. The market is highly competitive, with all the players competing to gain maximum market share. Intense competition, frequent changes in government policies, and regulations are key factors that impact market growth. The vendors compete based on cost, product quality, reliability, and aftermarket services. The vendors must provide cost-efficient and high-quality hydrostatic transmissions to sustain their presence in an intensely competitive market environment.
Global Hydrostatic Transmission market is segmented based on capacity, operation type, end user and region in this report. The report is focused on various analytical aspects such as market dynamics, Supply chain analysis, Porter’s five forces, competitive landscape, recent developments, and company profiles. The insights in this report, comprise, discuss views and predict the emerging and fast-growing segments, regions, and countries with potential of development in the Global Hydrostatic Transmission Market.
|Market Size||2030: USD 7270.82 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Capacity, Operation Type, End User|
|Geographies Covered||North America, Europe, Asia-Pacific, Middle East and Africa and, South America|
|Key Vendors||Parker Hannifin Corporation (USA), Dana Incorporated (USA), Eaton (Ireland), Komatsu America Corporation (USA), Kawasaki Heavy Industries Ltd. (Japan), Idemitsu Kosan Co Ltd (Japan), Total Energies SE (France), Shell plc (UK), Robert Bosch GmbH (Germany) Tuff Torq Corporation (USA)|
|Key Market Opportunities||Growing demand from automotive industry|
|Key Market Drivers||Rising collaboration and acquisitions among key players Growing demand from end-user industries|
The Global Hydrostatic Transmission Market would register a growth of ~5.72% during the forecast period.
The high cost of Hydrostatic transmission equipment is the key restraining factor for the Global Hydrostatic Transmission Market.
Parker Hannifin Corporation (USA), Dana Incorporated (USA), Eaton (Ireland), Komatsu America Corporation (USA), Kawasaki Heavy Industries Ltd. (Japan), Idemitsu Kosan Co Ltd (Japan), Total Energies SE (France), Shell plc (UK), Robert Bosch GmbH (Germany) Tuff Torq Corporation (USA)
Asia Pacific region would enjoy the upper hand in the Global Hydrostatic Transmission Market
Capacity, operation type, application, and region are projected to define the understanding of the market.
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