ID: MRFR/AM/4814-HCR | February 2021 | Region: Global | 100 pages
Hydrostatic transmission market is expected to grow at a CAGR of 4% until the end of 2027. Hydrostatic transmission is a mechanical process that converts the physical energy of a pump into real pressurized energy.
The process uses oil and other hydraulic fluids to convert power for pumping. With the hydrostatic transmission process, engineers don’t need clutches, gear transmissions, etc to effectively pump. It’s this usefulness of hydrostatic transmission that’s making it more widely used in a variety of industries. Some of these are agriculture, mining, and construction. These industries need power that’s consistent, strong, and precise.
Covid-19 appeared on the global stage in March of last year. Since this virus could (rarely) have deadly consequences for humans, governments tried to contain its spread. They enacted temporary quarantines and lockdowns. Unfortunately, this adversely affected many industries because they were no longer able to operate as efficiently - many businesses were asked to close down to try to combat COVID-19.
The hydrostatic transmission market was no exception. Production was temporarily halted because the raw materials needed to make the equipment were hard to procure. This drove manufacturing costs up. Companies responded by passing the costs on to the end consumer in the form of higher retail prices. This hurt the hydrostatic transmission market because many end consumers were already reeling under the economic slowdown and the economic consequences that global lockdowns and quarantines caused. They responded by seeking lower priced alternatives that were equally as effective and powerful as hydrostatic transmission.
Manufacturers in the Governments are passing and enforcing stricter policies regarding vehicle emissions. This is largely what has been driving growth in the global e-bike market
responded by trying to ramp up production. It was hoped that greater production would spread manufacturing costs over more units. The results would be a lower unit price for the end consumer. The end consumer would respond by buying more units.
List of companies
Many companies in a variety of industries need a customized hydrostatic transmission. equipment. This has been a major factor driving growth in the hydrostatic transmission market. This has largely been the result of increased demand for this equipment.
Many industries use energy and power intensively. An example of such an industry is logistics and transportation. They also need equipment that works slowly. This is because blasting through concrete is meticulous work that needs to be done with care. The construction industry frequently has concrete blasting projects.
These types of blasting projects need strength that is targeted and precise. Construction workers often have to demolish certain sections of buildings as part of construction projects. Demolishing the wrong sections of buildings could have disastrous consequences for them, construction developers, and the clients.
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. All motor vehicles have traditionally been powered by petroleum and natural gas. This has had disastrous effects for the environment with the production of many harmful particles that polluted the environment and dramatically raised overall global temperatures.
Not only that but driving cars became a dangerous task in the 20th and early 21st centuries. Governments were aware of this. They passed legislation encouraging car manufacturers to start investing in technology for smart cars. There was only one problem - smart cars were electrically powered. They would not function well if powered by natural gas or petroleum. Car makers were in a quandary until they discovered the magic of hydrostatic transmission.
Companies that use electric generators to operate need this equipment. So do companies that transport train transportation cars. Hydrostatic power is convenient, reliable, and powerful. It was also relatively cheap and easy to procure pre-COVID.
One of the main factors that are creating new opportunities in the hydrostatic transmission market is the fact that almost all companies in every industry now need to use this equipment to generate the power and the rate and pace they need to remain operational and competitive.
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.
The price of hydrostatic transmission equipment has been driven even higher because of COVID-19. Manufacturers of this equipment must be more creative in terms of marketing techniques. They must invest in research and development. This will allow them to introduce a new generation of hydrostatic transmission equipment to market that is more effective, more powerful, and less expensive.
Cumulative growth analysis
The global hydrostatic transmission market is expected to grow at a CAGR of 4% until the end of 2027.
Parker Hannifin is a major American company in the global hydrostatic transmission market. It has invested heavily in research and development. Therefore, it is ready to bring a new generation of equipment that is more effective and more powerful than the predecessors. An example of this is the Parker Dominic Hunter. It speeds up filtering times, makes them more efficient, and makes them better able to filter more quantities of material and/or liquid at once.
The global hydrostatic transmission market can be divided into the following segments based on capacity: light-duty, medium-duty, and heavy-duty equipment.
By operation type
The market can be divided into the following categories based on operation type:
The following industries use this type of equipment:
Of course, this is not an exhaustive list of industries that use hydrostatic transmission equipment.
The global hydrostatic transmission market is divided into four distinct regions. These are the North American region, the European Union, the Asia-Pacific region, and the rest of the world. The Asia-Pacific region is expected to register the highest regional CAGR of all of the regions in the world until 2027.
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.
In the Asia-Pacific region, the two nations that will have the lion’s share of the regional CAGR of the Asia-Pacific are India and China. What’s spurring demand for this equipment is the need for systems that use fuel much more efficiently. Also, the economies in these two nations are growing at breakneck speed. This is creating a greater demand for and needs for roads and other infrastructure that is more expansive, sturdier, and more efficient than ever before.
The hydrostatic transmission market is very competitive in spite of high barriers to entry because of high initial setup costs. However, since there is money to be made in this market, many companies that are entrenched in other industries are entering into this industry. All companies are finding that they have to invest heavily in research and development in order to come with a new generation of equipment that is effective, lower-priced, and allows its end customers to be more innovative in terms of operations and solutions.
Parker Hannifin is a major company in the global hydrostatic transmission market. It has survived through innovation. For example, it uses robotic and smart manufacturing to design and make a new generation of more efficient hydrostatic transmission equipment that is environmentally friendly and easier/safer to use.
The global hydrostatic transmission market has a CAGR of 4%. This is expected to continue until the end of 2027. More and more companies in many more industries are driving immense growth in this market. They need more efficient and effective equipment that’s environmentally friendly and will lower overall production costs.
The competition in this market is intense despite significant barriers to entry. Companies are responding through research and development to create more innovative products that use technology much more intensively. They are also resorting to joint ventures and mergers and acquisitions to attempt to enter into new markets and keep their current market position in existing ones.
|Market Size||2027: Significant Value|
|CAGR||4 % CAGR (2020 to 2027)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Capacity, Operation and Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Dana Incorporated (US), Kanzaki Kokyukoki Mfg. Co., Ltd (Japan), CARRARO Group (Italy), Danfoss A/S (Denmark), and Kawasaki Heavy Industries, Ltd. (Japan) are the opponents in the global stage.|
|Key Market Opportunities||The strong demand for heavy lifting equipment|
|Key Market Drivers||Construction and mining sectors need this equipment due to the nature of their operations|
Frequently Asked Questions (FAQ) :
Dana Incorporated (US), Kanzaki Kokyukoki Mfg. Co., Ltd (Japan), CARRARO Group (Italy), Danfoss A/S (Denmark), and Kawasaki Heavy Industries, Ltd. (Japan) are the opponents in the global stage.
It’s 4% until the end of 2027.
The Asia Pacific region is projected to dictate the growth of the market.
Construction and mining sectors need this equipment due to the nature of their operations
Capacity, operation type, application, and region are projected to define the understanding of the market.