An Incisive, In-depth Analysis on the Hydrostatic Transmission Market
This study offers a comprehensive, 360 degree analysis on the Hydrostatic Transmission market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Hydrostatic Transmission market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
In terms of value, the global hydrostatic transmission market is estimated to reach US$ 5.8 Bn by this year end, and will reportedly approach US$ 10.3 Bn by 2028 end, as depicted in a new report released by Future Market Insights. The market is likely to witness a CAGR of 5.9% over the forecast period, representing a promising scenario through the next decade. Western Europe is expected to be the largest market for hydrostatic transmission, accounting for nearly 27% of the global market share through 2028. Growth of Western European market for hydrostatic transmission is attributed to strong presence of multiple OEMs, involved in manufacturing of material handling equipment.
Demand for hydrostatic transmission sways with the performance of construction equipment, agricultural equipment, and mining equipment in the forthcoming years.
Precise power transmission demanded by off road equipment cannot be sufficed by usual mechanical transmission system, which has been a key factor responsible for increasing preference for hydrostatic transmission equipped with fluid coupling. Additionally, the flexibility shown by hydrostatic transmission enables it to become an attractive prospect for various end uses. Industries such agriculture, construction, mining rely on heavy duty machinery for a wide range of applications. These applications require precise movement and high torque at low speed, which are met through the implementation of hydrostatic transmission within the equipment.
Logistics & transport applications to surpass construction & mining, in terms of end uses
Among all the end users, the global hydrostatic transmission market is foreseen to witness maximum traction in the agriculture industry in form of agricultural machinery sales, followed by the logistics and transport sector. Although construction and mining currently accounts for a considerable market value share of over 20%, it will reportedly experience a slight decline against applications in the thriving logistics and transport industry. Other end users include turf equipment and airport ground support equipment.
Growth of mining and other industries leads to higher production of respective off road equipment, further leading to higher demand for hydrostatic transmission. The application of hydrostatic equipment is also prevalent in material handling equipment such as forklift, which is expected to further augment the growth of market in the forecast period. Although the fundamental principle of hydrostatic transmission makes it advantageous over conventional transmission, it is likely that the market will face limitations to rapid growth, owing to the factors such as slippage of wheels, higher replacement cost, and low efficiency.
On the basis of capacity, heavy duty segment is expected to hold nearly half of the market value share albeit low volume share due to high price point. The report however projects relatively lower growth rate for this segment through 2028. Conversely, the medium duty segment is anticipated to grow at a higher rate over the forecast period. On the basis of operation, the market is anticipated to be dominated by VDP-CDM (variable displacement pump-constant displacement motor) segment by a large margin, attributed to flexibility and higher number of end uses.
Future Market Insights in its report titled “Hydrostatic Transmission Market: Global Industry Analysis 2013-2017 and Opportunity Assessment 2018–2028” offers detailed insights and in-depth research on the said market on a global level. The report covers the important factors driving the growth of the market, untapped opportunities for the manufacturers, trends and developments shaping the dynamics of the market and other insights across various key segments.
The key strategy adopted by major Hydrostatic Transmission manufacturers is upgrading their product line with latest features and technologies and also launching new and innovative products to gain market presence and customer base, hence the Hydrostatic Transmission market is forecasted to improve significantly from 2018 to 2028.
The report starts with a market overview along with market definition and synopsis. The section that follows, presents the market dynamics which include market drivers, challenges, trends and opportunities in the Global Hydrostatic Transmission market. Advantages associated with use of Hydrostatic Transmission in transmission of elevated torque from engine to wheels at low speed is advantageous in off road, agriculture and industrial vehicles.
The next section of the report provides market share analysis and market attractiveness analysis on the basis of segments such as capacity, end user, operation type and region. It provides a market outlook for 2013–2028 and sets the forecast within the context of the Global Hydrostatic Transmission market, including the sales volume along with market value and assessment of opportunities in the specified region. The section represent market value and sales volume for each application of Hydrostatic Transmission in the specified region or country.
The market value of Hydrostatic Transmission is given in terms of US$ Mn throughout all the segments. Each category within all the segments is clearly described and defined in the research report study in order to help the reader understand the scope and boundaries of the research. The report also offers important drivers as well as roadblocks upsetting the growth of the market throughout the forecast period. Dynamic trends, supply chain movement and purchase patterns of Hydrostatic Transmission end users are taken into consideration and analyzed thoroughly, which is thus incorporated in the research study to equip the client with useful and comprehensive information about the changes taking place in the market leading to inspired decision making for players involved from both the supply and demand side. Other important frameworks such as macroeconomic factors, industrial growth, construction industry outlook, agricultural industry outlook, segmental trends and forecasting factors are utilized and covered in the report providing the reader with valuable market intelligence and insights.
The market segmentation offered in the report study is mentioned below:
By Operation Type
By End User
Construction & Mining
Logistics & Transport
South East Asia & Pacific
Middle East & Africa
Important statistics such as market share of the company, production volume per year, end user industry data points among others are taken into account for the purpose of gaining an idea regarding the volumetric sales of Hydrostatic Transmission on a global scale. Secondary sources are referred to cross check with the calculated market volume numbers and the same is confirmed through primary sources from the Hydrostatic Transmission manufacturers and well known suppliers in order to achieve near perfect volume number.
The Hydrostatic Transmission market is forecasted for a period of 10 years beginning from 2018, taken as the base year for the market numbers calculation and projected till 2028. The current size of the market, as well as the information gathered from the demand and supply side in addition to sales pattern of end use industries shaping the market
The forecasts covered in the report study is presented in terms of compound annual growth rate or CAGR, while other important parameters such as yearly growth and absolute dollar opportunity are also covered in the study to present the reader with crystal clear insights and comprehensive knowledge on the said market
Lastly, indispensable parameters namely market attractive index and impact analysis of both the drivers and restraints across all the nine regions are covered in the study offering insights about the dynamics, growth and untapped potential in the Hydrostatic Transmission market. Extensive profiling of major players involved in the manufacture of Hydrostatic Transmission are included in the final chapter of the report detailing the financials, developments, weaknesses and competitive strategies adopted to gain a foothold in the market.
Hydrostatic Transmission Market Reports - Table of Contents
18. Assumptions and Acronyms
19. Research Methodology