Automotive Hydrostatic Fan Drive System Market Statistics – 2027
The global automotive hydrostatic fan drive system market size was valued at $398.1 million in 2019, and is projected to reach $571.5 million by 2027, registering a CAGR of 6.0% from 2020 to 2027. Asia-Pacific accounted for the highest sharein the global automotive hydrostatic fan drive system market in 2019, in terms of revenue, and LAMEA is anticipated to exhibit remarkable growth rate during the forecast period.
The automotive hydrostatic fan drive system is a vital component incorporated in the automobile that assists with lubrication, sensors, and control units. The main purpose of a fan drive system is to remove excess heat and maintain temperature in the vehicle when the engine heats up. For heavy-duty vehicles and equipment, engine cooling fan systems use horsepower that increases the overall noise level of the vehicles. Hydrostatic fan drive system helps these vehicles by improving the engine cooling efficiency with lowering the noise heat operations related to engines, conventional fan drive systems such as clutch & pneumatic drives, electromagnetic & viscous drives, and variable pitch fans, generally fail due to high use of power. This drawback was overcome by the newly introduced temperature-activated as well as electronically controlled, hydrostatic fan drive system that offers fine control and reduces the fan speed during times of low cooling demand.
Various suppliers operating in the supply chain are witnessing problem of raw material shortage, which in turn is impacting the market and there is a continuously growing risk of raw material shortage if the situation continues. In addition, the complete supply chain is facing unpredictable issues and challenges such as OEM shutdowns, insufficient labor, output reduction, and raw material due to rapid spread of COVID-19, which in turn has affected the automotive hydrostatic fan drive system market.
Factors such as focus of governments to reduce emission and rise in demand for hydrostatic fans, drive the market growth. In addition, development of technology for reducing carbon dioxide (CO2) emission and development & innovation in engine manufacturing boost the demand for automotive hydrostatic fan drive system in the global market. However, high initial and maintenance cost, and adoption of electric vehicle across the globe are some of the major restraining factors of this market. Moreover, growing demand for low-emission off-highway vehicles in LAMEA are creating lucrative opportunities for the market.
The global automotive hydrostatic fan drive system market is segmented based on vehicle type, component, pump type, and region. Based on vehicle type, it is bifurcated into on-road vehicle and off-road vehicles. On-road vehicle type includes bus and trucks. Construction & mining vehicles, and agricultural vehicles are studied under the off-road vehicle type segment. Based on component, the market is categorized into variable axial piston pump, fixed gear motor, engine control unit, oil cooler, and hydraulic valves & sensors. Based on pump type, it is classified into fixed displacement pump and variable displacement pump. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the automotive hydrostatic fan drive system market are Eaton (Ireland), Parker Hannifin (U.S.), JTEKT HPI (Japan), Roxroth Bosch (Germany), Hydraforce Hydraulics (U.S.), Danfoss (Denmark), Bucher Hydraulics (Germany), Concentric AB (Sweden), Quality Hydraulics & Pneumatics (U.S.), and Casappa S.p.A. (Italy).
By Vehicle Type
Train metros and trams segment is projected as the most lucrative segments
COVID-19 impact analysis:
Disruption in the supply chain due to COVID-19 has significantly affected the automotive hydrostatic fan drive system market. Government imposed lockdown has affected the automotive hydrostatic fan drive system market as manufacturers across the globe has halted the manufacturing process and also unavailability of skilled labor owing to social distancing regulation.
Government regulations to reduce emission of harmful gases
In many industrialized nations, there are legislations & directives governing the emission of pollutant gases such as carbon monoxide and dioxides, or 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. Also, the U.S. Environmental Protection Agency (EPA) and the National Highway Traffic Safety Administration (NHTSA) jointly published the second phase of greenhouse gas (GHG) emissions and fuel efficiency standards for medium- and heavy-duty vehicles and engines through model year 2027. For instance, in July 2018, Horton, (a leading provider of premium engine-cooling solutions), launched new variable-speed fan drives and fan blades designed to improve commercial vehicle cooling system performance. This new fan drive and blade help engine makers to meet the increasingly stringent requirements in Phase 2 of the federal greenhouse-gas regulations. Thus, rise in innovation with government support in the field of fan drive system to provide flexibility, and on-demand control of the coolant flow are expected to create lucrative opportunities for the automotive hydrostatic fan drive system market in coming years.
By Component
Hydraulic valves & sensors segment is projected as the most lucrative segments
High need for hydrostatic fan drive system
During the operation, internal combustion engine dissipates large amount of energy in the form of heat and due to which only 30% of the input energy is converted to mechanical energy. Thus, the quest for reduced energy loss and emission from vehicles is posing a strong impact on the demand for sustainable automotive components, including technologically advanced hydrostatic fan drive systems. In addition, the newly introduced temperature-activated, electronically-controlled, and hydrostatic fan drive system offers fine control and reduces the fan speed during times of low cooling demand. Therefore, the growing need of hydrostatic fan drive system will drive the growth of the automotive hydrostatic fan drive system market. For instance, Quality hydraulic & Pneumatics Inc., a hydraulic and pneumatic components manufacturer 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 drive the automotive hydrostatic fan drive system market.
Adoption of electric vehicle across the globe
Rise in awareness about pollution-free environment across the globe and favorable subsidiary policies for buyers by the governments have increased the demand for electric vehicles (EV). These electric vehicles have different types of cooling systems and modern production EV uses only ambient air cooling. Furthermore, these electric vehicles do not use hydrostatic fan drive system for engine cooling. For instance, Nissan Leaf, an advanced electric passenger car, has air cooled batteries that only uses small radiators or A/C for cooling. Moreover, other cars such as Tesla, Volt, and others, use liquid for cooling instead of hydrostatic fan drive system. Also, there is a rise in trend of electric vehicles in developed as well as in developing countries that use coolant fluid to reduce the heat within the batteries or engines. Therefore, innovation in electric vehicle by giant companies has lowered the use of hydrostatic fan drive system for cooling. Thus, it is expected to hamper the overall growth of the hydrostatic fan drive system market in future.
By Pump Type
Fixed Displacement Pump segment is projected as the most lucrative segments
Growing demand for low-emission off-highway vehicles in LAMEA
Consistent economic growth, rise in disposable income, and strong government support for the development of automotive sector in Latin America, Middle East and Africa, fuel the increase in adoption of heavy-duty and off-highway vehicles in the region. Furthermore, the development in agriculture industry and mining industry has witnessed an increase in commercial and off-highway vehicle demand from various Latin America countries. For instance, according to data by the International Organization of Motor Vehicle Manufacturers (OICA), total 525,781 units of commercial and heavy-duty vehicles were sold in Brazil in 2019, registering a growth of 13.1% as compared to 2018. While, in Saudi Arabia, 72,572 commercial vehicles were sold in 2019 with 14% growth from 2018 to 2019.
Owing to growth in the mining industry, South Africa is also witnessing growth in off-highway commercial vehicles sales. Moreover, increasing government emission regulations in the region results in demand for a low-emission off-highway and commercial vehicles, which in turn is anticipated to boost the market. For instance, Brazil’s National Council for the Environment (CONAMA) established the PROCONVE P-8 emission standards for new heavy-duty vehicles (HDVs) effective November 16, 2018. The P-8 standards specify maximum limits for exhaust gas emissions, particulates, and engine noise. Also, Emirates Authority for Standardization and Metrology (ESMA) mandated Euro 4 emission standards for trucks with improved engine and fuel efficiency in the UAE effective from 2018. Thus, the increasing sales of commercial and off-highway vehicles and growing demand for low-emission off-highway vehicles in LAMEA are offering lucrative opportunities for the automotive hydrostatic fan drive system market to expand further.
By Region
LAMEA region segment is projected as the most lucrative segments
Key Benefits For Stakeholders
- This study presents analytical depiction of the global automotive hydrostatic fan drive systemmarket analysis along with the current trends and future estimations to depict the imminent investment pockets.
- The overall market opportunity is determined by understanding the profitable trends to gain a stronger foothold.
- The report presents information related to the key drivers, restraints, and opportunities of the market with a detailed impact analysis.
- The current market is quantitatively analyzed from 2019 to 2027 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of buyers and suppliers in the industry.
Automotive Hydrostatic Fan Drive System Market Report Highlights
| Aspects | Details |
 By VEHICLE TYPE |
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 By COMPONENT |
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 By PUMP TYPE |
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 By Region |
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 Key Market Players | QUALITY HYDRAULICS & PNEUMATICS INC, BOSCH REXROTH AG (BOSCH), EATON, CASAPPA S.P.A, PARKER HANNIFIN CORP, HYDRAFORCE HYDRAULICS, BUCHER HYDRAULICS, JTEKT HPI, CONCENTRIC AB, DANFOSS |
Analyst Review
According to the insights of the CXOs of leading companies, the automotive hydrostatic fan drive system market holds high potential for the automotive industry. The current business scenario is witnessing an increase in the use of construction & mining industry, particularly in the regions such as Mexico, China and other European countries has been reported. Companies in this industry are adopting various innovative techniques to provide advanced features to customers.
The key factors that drive the growth of the global automotive hydrostatic fan drive system market are focus of governments to reduce emission and rise in demand for hydrostatic fans drive, development of technology for reducing carbon dioxide (CO2) emission and development & innovation in engine manufacturing. High initial and maintenance cost and rise in adoption of electric vehicle across the globe are some of the major restraining factors of this market. Moreover, anticipated growth from Africa and technological advancements in hydraulic system to reduce CO2 emission across the globe are creating huge opportunities for the market.
Among the analyzed regions, Asia-Pacific is expected to account for the highest revenue in the global market throughout the forecast period followed by North America, Europe, and LAMEA. However, LAMEA is expected to increase at a high rate, predicting a lucrative growth for the automotive hydrostatic fan drive market.
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