Reports
Reports
The global automotive hydrostatic fan drive system market is projected to grow at a promising rate from 2021 to 2031 (forecast period). Automotive hydrostatic fan drive systems are in high demand due to increasing demand for noiseless, compact, and independently working engine cooling systems, particularly in off-road vehicles. This aspect is being bolstered further by stricter regulatory standards for vehicle emissions, which is increasing opportunities for energy-saving engine cooling systems. Such aspects are likely to boost the global automotive hydrostatic fan drive system market during the forecast period.
Moreover, increased disposable incomes in emerging economies and the inclusion of innovative technologies such as hydrostatic fan drive systems are expected to fuel the expansion of the global automotive hydrostatic fan drive system market.
Key players active in the global automotive hydrostatic fan drive system market are JTEKT (Japan), Eaton (Ireland), Parker Hannifin (US), Danfoss (Denmark), Bosch (Germany), Concentric (Sweden), Bucher Hydraulics (Germany), Walvoil (Italy), Avid Impex (India), Hawe Hydraulik (Germany), Bondioli& Pavesi (Italy), Casappa (Italy), Hydrosila Group (Ukraine), Hydac International (Germany), Axiomatic Technologies (Canada), Quality Hydraulics & Pneumatics (US), Enovation Controls (US), and Hydraforce Hydraulics (US).
To broaden their worldwide exposure, key market players are continuing to pursue market strategies such as technological innovations, collaborations, investments, acquisitions, and R&D activities.
Engine cooling fan systems for heavy-duty vehicles and machines necessitate substantial horsepower, which leads to increased machine noise. As a result, the requirement for more effective and quieter vehicle operation is expected to boost the global automotive hydrostatic fan drive system market.
Moreover, the need to lower greenhouse gas emissions from vehicles is having a significant impact on the demand for environmentally friendly automotive components, such as technologically superior hydrostatic fan drive systems. In the context of the Paris Climate Agreement, some countries around the world have already taken active steps to promote environmentally friendly automobiles through the introduction of tough regulatory standards. In the near years, the ensuing R&D of low-emission methods and improvements in engine manufacturing processes are projected to generate profitable prospects for automotive hydrostatic fan drive system manufacturers.
The construction equipment segment is expected to witness growth in the global automotive hydrostatic fan drive system market. The increased demand for temperature-sensitive cooling systems in construction equipment has spurred the growth of the hydrostatic fan drive system. These vehicles conduct the majority of the tasks in a static position at high engine rpm. The key players have an opportunity to serve emerging markets by providing a comprehensive range of products at reasonable pricing.
The Asia Pacific automotive hydrostatic fan drive system market is projected to grow during the forecast period due to high year-on-year growth in vehicle sales. Moreover, rising infrastructure development, especially in emerging economies such as India and China, is likely to fuel the expansion of the region's automotive hydrostatic fan drive system market. Furthermore, the rising demand for an independent engine cooling system in off-highway vehicles and the increasing demand for a fuel-efficient engine cooling system to fulfill strict emissions regulations in emerging regions are driving the growth of the automotive hydrostatic fan drive system market in this region.
The automotive hydrostatic fan drive system market in North America is likely to expand during the forecast period. The United States is expected to contribute to the automotive hydrostatic fan drive system market in North America.
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Automotive Hydrostatic Fan Drive System Market
