March 31, 2020
Hydrostatic Transmission

Hydrostatic Transmission Market is expected to register the highest CAGR according to market forecasts

The global hydrostatic transmission market was valued at US$ 6.12 billion in 2018 and is set to grow with a CAGR of 6.50 per cent over the forecast period.

The global market for hydrostatic transmission is strongly driven by increasing applications in the construction and mining sectors due to their ability to deliver high torque at low speeds. They are also used in various operations by the construction and mining industries. The hydraulic transmission uses hydraulic fluid media for transmission of power from a source to the drive mechanism. These systems can easily move heavy machinery such as industrial machinery, land-moving equipment, heavy machinery with high power and low speed.

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One of the main benefits of hydraulic transmission systems is that these systems can simply shift their power to cope with fluctuating loads and maintain high efficiency. Hydrostatic transmission has a high demand on the part of various end-users due to numerous other advantages, such as high torque-to-speed ratio, low inertia and dynamic braking, which are some of the driving factors for the growth of the near-future market.

On the basis of application, the agricultural segment has the largest market share of more than 30% due to the increased use of hydrostatic transmission in this industrial segment. Globally increasing agriculture is a major factor in the growth of the market, as most of the agricultural product uses hydrostatic transmission systems such as tractors and others that contribute to the growth of the market. The construction & mining segment is considered to be the fastest growing segment in the forecast period.

Asia-Pacific is expected to be the fastest growing market due to the presence of growing and developing countries such as India, China, Japan, South Korea, Australia and others. The region is expected to grow with a CAGR of 7.2%. In addition, the increasing development of infrastructure, the growing mining and construction industries, agricultural facilities and the government’s development initiative are some of the key factors for the growth of the market in the region.

Some of the prominent players operating in the hydrostatic transmission market include 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.

Key questions answered in this report

  • What was the market size of hydrostatic transmission in 2018 and forecast up to 2027?
  • Which is the largest regional market for heavy duty in capacity?
  • What are the major trends followed in hydrostatic transmission market across different regions?
  • Who is the key hydrostatic transmission companies leading the market?
  • What are the key strategies adopted by the leading hydrostatic transmission companies in market?

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