(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Oct. 27, 2023 (GLOBE NEWSWIRE) -- The "Automotive Hydrostatic Fan Drive System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets's offering. The global automotive hydrostatic fan drive system market, with a valuation of US$ 385.1 Million in 2022, is poised for robust expansion in the coming years, according to market analysts. Projections indicate that by 2028, the market is expected to reach US$ 528.0 Million, exhibiting a commendable Compound Annual Growth Rate (CAGR) of 5.1% during the period 2023-2028.
An automotive hydrostatic fan drive system serves as a crucial component of a vehicle's integrated engine cooling system, responsible for lubrication, sensors, and controls. This system plays a pivotal role in maintaining the engine's optimal operating temperature, effectively reducing noise and heat generation regardless of engine speed. Hydraulic fan drives, equipped with temperature-activated and electronically controlled systems, offer precise control while reducing fan speed during periods of low cooling demand.
This technological innovation enables mobile equipment, commercial vehicles, and coaches to meet stringent emissions and noise regulations. Automotive hydrostatic fan drive systems find applications in a wide range of industries, including agriculture, transportation, and construction.
Automotive Hydrostatic Fan Drive System Market Trends
The market's primary driver is the escalating global demand for low-emission vehicles. This surge in demand can be attributed to the preference for fuel-efficient, noiseless, and independently operating engine cooling systems, particularly in off-highway vehicles.
Continuous technological advancements in automotive engine manufacturing, coupled with a heightened focus on sustainable development and reducing carbon dioxide (CO2) emissions, are creating lucrative growth opportunities in the market. Stringent regulatory norms pertaining to vehicle emissions enforced by governments worldwide further contribute to market growth.
Additionally, the rapid adoption of hydrostatic fan drive systems in construction equipment is positively influencing market prospects. Other contributing factors include the increasing adoption of hybrid engines, rising disposable income levels among consumers, the advent of electric vehicles (EVs), and extensive research and development (R&D) activities.
Key Market Segmentation
The comprehensive report offers insights into key market trends within sub-segments of the global automotive hydrostatic fan drive system market. Forecasts are provided at the global, regional, and country levels for the period from 2023 to 2028. The market is categorized based on components, pump types, and vehicle types as follows:
Breakup by Component:
Variable Axial Piston Pump Fixed Gear Motor Engine Control Unit Oil Cooler Hydraulic Valves and Sensors
Breakup by Pump Type:
Fixed Displacement Pump Variable Displacement Pump
Breakup by Vehicle Type:
On-Road Vehicles Off-Road Vehicles Construction and Mining Agricultural Train, Metro, and Trams
Breakup by Region:
North America Asia-Pacific China Japan India South Korea Australia Indonesia Others
Europe Germany France United Kingdom Italy Spain Russia Others
Latin America Middle East and Africa
Competitive Landscape
The industry's competitive landscape features key players such as Axiomatic Technologies Corporation, Bondioli & Pavesi S.p.A., Bosch Rexroth Aktiengesellschaft (Robert Bosch GmbH), Bucher Hydraulics (Bucher Industries AG), Casappa S.p.A., Concentric AB, Danfoss, JTEKT Corporation (Toyota Group), Parker Hannifin Corporation, Quality Hydraulics & Pneumatics Inc., and Walvoil S.p.A (Interpump Group S.p.A).
Key Questions Answered in This Report
How large is the global automotive hydrostatic fan drive system market? What is the expected growth rate of the global automotive hydrostatic fan drive system market during 2023-2028? What factors are driving the global automotive hydrostatic fan drive system market? What has been the impact of COVID-19 on the global automotive hydrostatic fan drive system market? What is the market segmentation based on components and vehicle types? Which regions are key in the global automotive hydrostatic fan drive system market? Who are the key players/companies in the global automotive hydrostatic fan drive system market?
Key Attributes:
Global Automotive Hydrostatic Fan Drive System Market Global Automotive Hydrostatic Fan Drive System Market Tags Automotive Automotive Hydrostatic Fan Engine Manufacturing Engines and Engine Parts Hydrostatic fan Drive Related Links
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