The latest report by IMARC Group, titled “Automotive Hydrostatic Fan Drive System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” finds that the automotive hydrostatic fan drive system market size reached US$ 363.66 Million in 2021. An automotive hydrostatic fan drive system refers to an essential component installed in heavy automobiles to cool the engine by eliminating excess heat. It aids in reducing carbon dioxide (CO2) emissions, maintaining optimum operating temperature for the combustion system, and enhancing vehicle cooling efficiency. Apart from this, the automotive hydrostatic fan drive system is compact, noise-free, reliable, requires flexible arrangement, and exhibits low hysteresis and ideal temperature control properties. Consequently, it is extensively incorporated in agriculture machinery, construction equipment, and commercial vehicles. At present, it is commercially categorized based on its varying components and pump types.
We are regularly tracking the direct effect of COVID-19 on the industry, along with the indirect influence of associated markets. These trends will be integrated into the report.
Automotive Hydrostatic Fan Drive System Market Trends:
With the substantial expansion in the automotive sector, there has been an increasing demand for compact, noiseless, and independently operating engine cooling systems to optimize engine efficiency. This, in turn, is primarily driving the automotive hydrostatic fan drive system market growth. In line with this, the growing environmental concerns have promoted the uptake of heavy-duty electric vehicles (EVs) across the globe, which is supporting the market growth. The product is widely installed in hybrid automobiles to decrease energy loss and carbon emissions, thus acting as another growth-inducing factor. Additionally, the introduction of a temperature-activated, electronically controlled, hydrostatic fan drive system to provide finer control and reduce fan speed during the low cooling demand time is contributing to the market growth. Other factors, such as the escalating sales of automobiles and strategic collaborations amongst key players to improve the engine manufacturing procedure and product efficacy, are creating a positive outlook for the market. On account of the above-mentioned factors, the market is anticipated to reach US$ 513.24 Million by 2027, representing a CAGR of 5.80% during 2022-2027.
- On the basis of the component, the market has been segmented into variable axial piston pumps, fixed gear motors, engine control units, oil coolers, and hydraulic valves and sensors.
- Based on the pump type, the market has been bifurcated into fixed and variable displacement pumps.
- According to the vehicle type, the market has been categorized into on-road vehicles (buses and trucks), off-road vehicles (construction and mining, and agricultural), and trains, metros and trams.
- On a geographical front, the report covers Middle East and Africa, Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and Others), North America (the United States and Canada), Latin America (Brazil, Mexico and Others), and Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and Others).
- The competitive landscape of the market has also been covered, with some of the key players being Bondioli & Pavesi S.p.A., Axiomatic Technologies Corporation, Bucher Hydraulics (Bucher Industries AG), Bosch Rexroth Aktiengesellschaft (Robert Bosch GmbH), Concentric AB, Casappa S.p.A., JTEKT Corporation (Toyota Group), Danfoss, Quality Hydraulics & Pneumatics Inc., Parker Hannifin Corporation, and Walvoil S.p.A (Interpump Group S.p.A).
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