LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global hydrostatic transmission market is expected to grow at a CAGR of more than 4% during the forecast period.
This research report titled ‘Global Hydrostatic Transmission Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
The global hydrostatic transmission market is expected to grow significantly, especially in the South-East Asian and Latin American markets. These regions have an enormous potential for the growth of the industrial heavy machinery and equipment industries. During the forecast period, there will be a major development across industries, especially in the agricultural and construction industries in APAC. This will drive the market growth in the region.
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Technavio’s industrial automation research analysts categorize the global hydrostatic transmission market into the following segments by end-user. They are:
- Heavy-duty hydrostatic transmission
- Medium-duty hydrostatic transmission
- Light-duty hydrostatic transmission
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The top three end-user segments for the global hydrostatic transmission market are discussed below:
Heavy-duty hydrostatic transmission
At present, the market is exhibiting exponential growth rate due to the execution of remote operations by process industries in extreme weather conditions wherein equipment with robust characteristics is required to carry a heavy load. The market by heavy-duty hydrostatic transmission will pose a linear growth trend as heavy-duty hydrostatic transmission provide a steady power curve without crests and troughs, which translates into a smoother operation when the heavy vehicle is at low speed.
According to Raghav Bharadwaj Shivaswamy, a lead automation research analyst from Technavio, “Heavy-duty hydrostatic transmissions are primarily used in the construction, agricultural, logistics, and mining industries. The adoption of heavy-duty hydrostatic transmissions for tunnel construction, underground mining, articulate forklifts, and crawler dozers is facilitating sufficient growth of the market.”
Medium-duty hydrostatic transmission
The market by medium-duty hydrostatic transmission has the maximum penetration among the other types. Medium-duty hydrostatic transmissions have input capacity ranging from 10 to 80 hp. The growth of this segment is expected to continue during the forecast period.
“Medium-duty hydrostatic transmissions have sophisticated electronic control, which provides operators with a chance to eliminate shifting and maximum control over the machine. These control systems in medium-duty hydrostatic transmission are being updated to be able to control transmissions without high lever effort. These devices may provide high-power output and torque with the continuous development and innovation of the product,” adds Raghav.
Light-duty hydrostatic transmission
At present, the market by light-duty hydrostatic transmission is driving the growth in the adoption of machinery, such as lawn tractors, agricultural sprinklers, grain dryers, irrigation equipment, mills, and grinders, in the agricultural industry. These vehicles and machinery are used for light-duty applications with hydrostatic transmission power less than 10 hp.
The market growth is also supported by the development of the construction industry. In this industry, hydrostatic transmission is employed in concrete saws and a wide variety of mobile applications. The requirement for variable output speed for light-duty applications has led to the development of hydrostatic transmissions that are flexible in providing high performance.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Parker Hannifin
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