New York, US, Oct. 26, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), Hydrostatic Transmission Market Research Report Information by Operation Type, Capacity, End User, and Region- Forecast 2030, the hydrostatic transmission market is predicted to thrive substantially during the review timeframe from 2022 to 2030 at a healthy CAGR of approximately 5.52%. The reports further anticipate the market to attain a valuation of around USD 7270.82 million by the end of 2030.
Hydrostatic Transmission Market Overview:
Hydrostatic mechanical energy into pressure energy with the help of a fluid-powered transmission system to offer high torque at low speed is called hydrostatic transmission. The hydrostatic transmission is usually utilized in applications where high torque is needed at low speed. This kind of need is generally experienced in commercial vehicles and equipment. The hydrostatic transmission is implemented across several industrial applications due to its numerous advantages and attractive features. Agricultural, heavy industrial, and construction vehicles & equipment, utilize hydrostatic transmission systems in several operations. Several industry applications exist for hydrostatic transmission systems, such as motors, machines, lifts, etc. The demand for heavy lifting equipment has elevated, coupled with the building and mining industries, and to lift this equipment, hydrostatic power is essential. As an outcome, the hydrostatic transmission market is complemented by this. The global market for hydrostatic transmission has shown massive growth in the last few years. The development of the transportation, agricultural, and construction markets is believed to be the prime aspect supporting the market's growth. Hydrostatic transmission systems also discover applications in power generation systems, like ships, wind turbine generators, railway vehicles, engine generators, and so on; therefore, the demand for wide-capacity hydrostatic transmission has been experiencing considerable growth in the last few years. Moreover, the current trend gaining momentum in the market is the growing implementation of mid-size heavy-duty machines is also predicted to catalyze the growth of the regional market over the coming years.
Hydrostatic Transmission Market Competitive Analysis
The catalog for crucial participants across the global market for a hydrostatic transmission includes players such as:
- Parker Hannifin Corporation (USA)
- Idemitsu Kosan Co Ltd (Japan)
- Dana Incorporated (USA)
- Total Energies SE (France)
- Eaton (Ireland)
- Shell plc (UK)
- Komatsu America Corporation (USA)
- Robert Bosch GmbH (Germany)
- Kawasaki Heavy Industries Ltd. (Japan)
- Tuff Torq Corporation (USA)
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Hydrostatic Transmission Market Report Scope:
| Report Metric | Details |
| Revenue forecast in 2030 | USD 7270.82 Million |
| Growth Rate | CAGR of 5.52% from 2022 to 2030 |
| Base Year | 2021 |
| Study Period | 2022-2030 |
| Key Market Opportunities | Growing demand from automotive industry |
| Key Market Drivers | Rising collaboration and acquisitions among key players Growing demand from end-user industries |
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Hydrostatic Transmission Market USP Covered
Hydrostatic Transmission Market Drivers
The global market for hydrostatic transmission has shown massive development in the last few years, given the aspects such as elevating demand from the automotive industry, rising demand from end-user industries, and increasing collaboration and acquisitions among key players.
Hydrostatic Transmission Market Restraints
On the other hand, the high cost of Hydrostatic transmission equipment will likely restrict the market's growth.
COVID-19 Impact
The global market for hydrostatic transmission has witnessed massive impacts because of the recent global health crisis in the form of COVID-19. On the other hand, with all the industrial and financial activities returning to normal, the global market for hydrostatic transmission is anticipated to witness massive growth over the coming years.
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Hydrostatic Transmission Market Segment Analysis
Among all the capacities, the light-duty hydrostatic transmissions segment is anticipated to hold the top position across the global market for hydrostatic transmissions over the review era. Manufacturers provide them as an all-in-one, complete package that comprises an entire valve system, a variable displacement radial ball piston hydraulic pump, and a fixed displacement radial ball piston hydraulic motor.
Among all the operation types, the VDM-CDP segment secured the top position across the global market for hydrostatic transmissions in the year 2021. The reports by MRFR predict the segment to continue its dominance over the forecasted era.
Among all the end-users, the construction machinery segment is anticipated to secure the top spot across the global market for hydrostatic transmissions over the assessment timeframe.
Hydrostatic Transmission Market Regional Analysis
The global Hydrostatic Transmission Market is analyzed across five major parts: South America, the Middle East & Africa, Asia-Pacific, Europe, and North America.
According to the research reports by MRFR, the North American region is anticipated to secure the top position across the global market for hydrostatic transmission over the assessment era. The regional market's growth is primarily credited to the strong demand for heavy lifting equipment across the region. The demand for these is anticipated to witness massive growth over the coming years. the growth is credited to the rise in construction and other activities needing this equipment. The region has the US as the leading growth contributor.
The hydrostatic transmission market for the European region is anticipated to show substantial growth over the assessment timeframe. The increase in demand from end-user industry sectors, such as transport & logistics, construction, and mining, is believed to be the central aspect supporting the growth of the regional market. Even though the mining sector across the European region has a long history, it is considered one of the most cutting-edge and liberal economic sectors on the continent. The mining industry across the region is vital to the continent's economic health. The region has Germany as the prominent growth contributor.
The Asia-Pacific regional market for hydrostatic transmission is anticipated to show the highest growth rate over the assessment timeframe. The main parameter supporting the growth of the regional market is the requirement for systems using fuel much more efficiently. China, India, and Japan are believed to be the leading growth contributors across the region.
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The hydrostatic transmission market for the Middle East & African region is predicted to profit hugely from infrastructure development. Furthermore, the growing demand for construction equipment is another crucial aspect causing an upsurge in the regional market's growth. Moreover, the requirement for hydrostatic transmissions is being propelled by the rise of the mining and construction industries and several geographic areas, which is anticipated to catalyze the market's growth over the review era.
Organizations and governments across the South American region are encouraging the region's building industry, which is likely to influence the regional market's growth positively.
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