Global Hydrostatic Transmission Market 2017-2021
About Hydrostatic Transmission
A hydrostatic transmission is a device that is used to transmit torque through pressure from the fluid that circulates between the pump and the motor. The fluid influences the dynamic behavior of the hydraulic and control systems. A hydrostatic transmission is required to facilitate the movement of heavy machinery with enormous power demand without high velocity. The device is typically used in combination with land-moving equipment, industrial machinery, and heavy-duty machines such as forklift, combines, excavators, and tractors. Since the hydrostatic transmission has high fuel efficiency over gear shift transmission, the former is preferred to be used for load moving and carrying vehicles.
Technavio’s analysts forecast the global hydrostatic transmission market to grow at a CAGR of 4.15% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global hydrostatic transmission market for 2017-2021. To calculate the market size, the report considers the sales and services market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Hydrostatic Transmission Market 2017-2021
Technavio recognizes the following companies as the key players in the global hydrostatic transmission market: Dana, Danfoss, Eaton, KANZAKI, and Parker Hannifin.
Other Prominent Vendors in the market are: Bosch Rexroth, Carraro Drive Tech, Deere & Company, Doosan, GS Global Resources, ISEKI, Kawasaki Heavy Industries, Komatsu, The Linde Group, Oil-Air Products, OMSI, POCLAIN HYDRAULICS, Tuff Torq, and ZF Friedrichshafen.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is increasing adoption of mid-size heavy equipment with hydrostatic transmission. Heavy equipment such as excavators, wheel loaders, fork lifts, and tractors, under the category of 35–50-ton division, is constantly being upgraded with changing market forces and technologies. The roles of heavy equipment have increased, and the adoption rate of mid-sized heavy equipment is expected to improve in the future. This will positively impact the global hydrostatic transmission market. Wheel loaders, forklifts, and excavators are mostly used in the mining, construction, and logistics industries.”
According to the report, one of the major drivers for this market is increasing demand for customized hydrostatic transmission. There is an increase in demand for customized hydrostatic transmissions in construction, agricultural, mining and logistics and transportation industries. The logistics and transportation, construction, and mining industries require customized hydrostatic transmissions with remote control operations for their heavy equipment. Therefore, vendors are providing custom-made hydrostatic transmissions to suit end-user requirements and gain a competitive edge.
Further, the report states that one of the major factors hindering the growth of this market is Excessive cost of buying and installation of hydrostatic transmission. Hydrostatic transmission systems involve the use of pumps, motors, sensors, software, and advanced technologies. Their prices are considerably high and require a large initial one-time payment during its installation. The initial cost of hydrostatic transmission is high but the return on investments (ROI) is stronger than the of PSTs. Additional costs include investments in trailers and docks trailers, articulated forklifts, loaders, and docks, along with modification expenses. These costs appreciate depending on the customization and other operational requirements based on the industry.
Dana, Danfoss, Eaton, KANZAKI, Parker Hannifin, Bosch Rexroth, Carraro Drive Tech, Deere & Company, Doosan, GS Global Resources, ISEKI, Kawasaki Heavy Industries, Komatsu, The Linde Group, Oil-Air Products, OMSI, POCLAIN HYDRAULICS, Tuff Torq, and ZF Friedrichshafen.