Latest News by Industry
DUBLIN--(BUSINESS WIRE)--Oct 5, 2022--
The "Automotive Hydrostatic Fan Drive System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global automotive hydrostatic fan drive system market reached a value of US$ 363.66 Million in 2021. Looking forward, the publisher expects the market to reach a value of US$ 513.24 Million by 2027, exhibiting a CAGR of 5.91% during 2021-2027.
Companies Mentioned
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
An automotive hydrostatic fan drive system is a critical component of an engine cooling system integrated into a vehicle that assists with lubrication, sensors, and controls. A combustion engine's hydrostatic fan drive system maintains the optimal operating temperature of the engine when it gets heated up. By reducing the noise and heat generated by engines, regardless of the speed, it lowers the noise and heat generated by combustion engines.
Hydraulic fan drives with temperature-activated and electronically controlled systems offer precise control while reducing the fan speed during periods of low cooling demand. As a result, it enables mobile equipment, commercial vehicles, and coaches to meet the strict guidelines concerning emissions and noise. It finds applications in a wide range of industries, including agriculture, transportation and construction.
The market is primarily driven by the rising demand for low-emission vehicles across the globe. This can be attributed to the increasing preference for fuel-efficient, noiseless and independently operating engine cooling systems in off-highway vehicles. In addition to this, continual technological advancements in automotive engine manufacturing, along with an enhanced focus on sustainable development and reducing carbon dioxide (CO2) emissions, are also creating lucrative growth opportunities.
The market is further driven by the stringent regulatory norms regarding vehicle emissions undertaken by the governments of several countries.
Moreover, the rapid utilization of hydrostatic fan drive systems in construction equipment is also creating a positive outlook for the market. Some of the other factors that are contributing to the market growth include the growing adoption of hybrid engines, inflating disposable income levels of the consumers, the advent of electric vehicles (EV) and extensive research and development (R&D) activities.
Key Questions Answered in This Report:
Key Topics Covered:
1 Preface
2 Scope and Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Automotive Hydrostatic Fan Drive System Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Component
7 Market Breakup by Pump Type
8 Market Breakup by Vehicle Type
9 Market Breakup by Region
10 SWOT Analysis
11 Value Chain Analysis
12 Porters Five Forces Analysis
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
For more information about this report visit https://www.researchandmarkets.com/r/djfgju
View source version on businesswire.com:https://www.businesswire.com/news/home/20221005005801/en/
CONTACT: ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
KEYWORD:
INDUSTRY KEYWORD: GENERAL AUTOMOTIVE AUTOMOTIVE MANUFACTURING MANUFACTURING AUTOMOTIVE
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 10/05/2022 03:42 PM/DISC: 10/05/2022 03:42 PM
http://www.businesswire.com/news/home/20221005005801/en