Increasing Application of Hydrostatic Transmission in Agriculture Industry is driving the Hydrostatic Transmission Market
Globally, the hydrostatic transmission market is expected to grow with a CAGR of 6.5% during the forecast period from 2023 to 2030, starting from 2020 with a market value of US$ 7.35 Bn. Hydrostatic transmission are the devices or the systems which are utilized by heavy machineries with high power without speed. These devices use fluid pressure, which revolves around pump and motors for transmission of torque. Moreover, these machines have applications in various industries such as construction and mining, heavy industries, agriculture and others. Hydrostatic transmission devices or systems can also be used in power generation systems, ships, railway vehicles, generators and others.
Since, past few years the demand for hydrostatic transmission has been witnessed a significant growth as its applications are increasing in various industrial aspects such as power generation systems, railway vehicles, ships and many other areas. As industrialization across the globe has taken a huge leap, the demand for high capacity hydrostatic transmission equipment is enhancing. Rapid developments in the end use industries is driving the growth of the hydrostatic transmission market during the forecast period. However, technical errors associated with the devices, and high cost of hydrostatic transmission are likely to restrain the growth of this market.
"Hydrostatic Transmission with Heavy Duty in its Capacity Segment Continue Dominating the Market"
In 2020, the heavy-duty segment led the overall hydrostatic transmission market by contributing to more than 1/3rd of market share of the total revenue generated globally. The heavy duty hydrostatic transmission are used in transit mixer, road roller, paver, motor grader, loader, dozer harvester, crane, marine, sweeper, lift truck, windrower, sprayer, and planter which is a major factor for their high market share. However, the medium duty devices are expected to be the fastest growing segment during the forecast period and are expected to dominate the market during the forecast period.
"Europe Dominates the Market by Region"
The global hydrostatic transmission market is led by Europe due heavy investments made by the companies in the region, additionally; there has been development in the infrastructure across various countries within last decades in the region, which is contributing in the market growth. The region accounts more than 35.0% of the market share in 2020. Additionally, increasing farming in the region is a factor for driving the market growth. The region consists of countries such as UK, Germany, France, Spain, Italy are and others with large agriculture and construction industries. UK is accounted to be the fastest growing country in the region, however, Germany is expected to be the dominate the market during the forecast period.
Some of the prominent players operating in the hydrostatic transmission market includes Parker Hannifin Corp., Eaton Corp. PLC, Kanzaki Kokyukoki Mfg. Co., Ltd., Danfoss A/S, Dana Incorporated, CARRARO Group, Poclain Hydraulics, Kawasaki Heavy Industries, Ltd., Robert Bosch GmbH, Inoxt, Inc., Tuff Torq Corp., Linde Hydraulics GmbH & Co. KG, Hydrosila Group, Pemar, S.A, and HANSA-TMP Group.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Hydrostatic Transmission market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
ATTRIBUTE | DETAILS |
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Research Period | 2022-2032 |
Base Year | 2023 |
Forecast Period | 2024-2032 |
Historical Year | 2022 |
Unit | USD Million |
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report