According to a recent report published by Allied Market Research, titled, Automotive Hydrostatic Fan Drive System Market by Vehicle Type, Component, Pump Type and Region: Global Opportunity Analysis and Industry Forecast, 2018 - 2025, the global automotive hydrostatic fan drive system market size was valued at $377.2 million in 2017, and is projected to reach $620.3 million by 2025, registering a CAGR of 6.3% from 2018 to 2025.
Automotive hydrostatic fan drive system industry is responsible to the factors such as government initiatives to reduce emissions of pollutant gases and increase in demand for hydrostatic fan drive system across the globe.
However, high initial and maintenance cost and rise in adoption of electric vehicles across the globe are some of the major restraining factors of automotive hydrostatic fan drive system market. Moreover, anticipated growth from Africa is creating huge opportunities for the market.
In many industrialized nations legislations & directives governing the emission of pollutant gases such as carbon monoxide and dioxides, for sulfur and nitrogen oxide from diesel engines. For instance, Governments in the Asia-pacific region are actively promoting environment friendly vehicles in their respective countries since the Climate Change agreement in Paris. Furthermore, Bosch has developed the hydraulic hybrid drive (HRB) fan drive systems accordance with the EURO 6 and TIER 4 assistance that reduces the fuel consumption and also reduces CO2 emission by five percent. Similarly, due to supporting governments regulation in concern to reduce emission, Mahle has developed an electrical main coolant pump for the 48 V on-board net which replaces the mechanical pump and offers reductions in CO2 emissions. Such rising innovation with govt. supports in the field of fan drive system to provide flexibility, and on-demand control of the coolant flow will create a lucrative opportunity for hydrostatic fan drive system market in coming year. The automotive hydrostatic fan drive system market share largely is directly related to the advancement and expansion of the coolant-based system in heavy commercial vehicles.
In addition, the newly introduced temperature-activated, electronically-controlled, and hydrostatic fan drive system offers finer control and reduces the fan speed during times of low cooling demand. For instance, Quality hydraulic & Pneumatics company offers variable & alternating hydraulic fan drive system that uses less power and increases fuel & operating efficiency of the machine. Such trends are expected to significantly boost the automotive hydrostatic fan drive system market growth.
Furthermore, the current automotive hydrostatic fan drive system market share is quantitatively analyzed from 2018 to 2025 to benchmark the financial competency. The study presents analytical depiction of the automotive hydrostatic fan drive system market analysis along with the current trends and future estimations to depict the imminent investment pockets.
Key Findings Of The Automotive Hydrostatic Fan Drive System Market Study:
- Based on vehicle type, the off road vehicle segment dominated the global automotive hydrostatic fan drive system market in 2017.
- Based on component type, hydraulic valves and sensors are anticipated to exhibit the highest CAGR during the forecast period.