Automotive Hydrostatic Fan Drive System Market: Introduction
- The automotive hydrostatic fan drive system is an engine cooling system and is a vital component for vehicles, which helps with lubrication, sensors, and control units. The system is primarily used to remove excess heat and maintain optimal temperature in the vehicle when the engine temperature rises, irrespective of the speed of the combustion engine. Moreover, the hydrostatic fan drive system enables automakers of mobile equipment, commercial vehicles, trucks, buses, and coaches to meet the stringent guidelines regarding emission and noise.
Key Drivers of Automotive Hydrostatic Fan Drive System Market
- Engine cooling fan systems for heavy-duty vehicles and machinery require significant horsepower, which contributes to higher machine noise. The need for efficient and quieter operation in vehicles is a prominent factor driving the demand for automotive hydrostatic fan drive system market during the forecast period.
- Technological improvements in vehicle components and systems aimed at improving the performance of the vehicle engine is expected to fuel the global automotive hydrostatic fan drive system market. In an IC- engine, around 30% of fuel energy is converted into mechanical power, while the rest is vanished around the vehicle atmosphere. Of this vanished fuel energy, approximately 35% of energy is left in the engine block, which can be extracted by the cooling system. This can be curtailed by the automotive hydrostatic fan drive system. It offers numerous benefits such as ideal temperature control quality, reliability, flexible arrangement, noise reduction, low hysteresis, and compliance with exhaust emission norms. These benefits are projected to drive the automotive hydrostatic fan drive system market during the forecast period.
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- A key factor restraining the global market is the increasing demand for electric and hybrid vehicles. Conventional ICE cooling equipment such as a hydraulic pump and hydraulic motor are not used in electric vehicles. Instead, electric vehicles have a battery thermal management system for battery cooling. Additionally, a rise in the demand for an independent, compact, and silent engine cooling system for off-highway vehicles and increasingly stringent emission regulations have further propelled the demand for a fuel-efficient engine cooling system.
- Hydraulic motors are mechanical actuators that alter the hydraulic flow and pressure into angular displacement and torque. This increases the performance of the hydrostatic fan drive system. Therefore, an increase in the demand for hydraulic motors is expected to drive the hydrostatic fan drive system market globally.
- Higher penetration of construction equipment due to a surge in infrastructure development is anticipated to increase the share held by the construction equipment vehicle type segment of the global hydrostatic fan drive system market.
- However, introduction of electric vehicle, wherein an internal combustion engine is replaced by electric motor entirely, eliminating the need for hydrostatic fan drive system, is projected to hamper the automotive hydrostatic fan drive system market during the forecast period
Corona Impact on Automotive Hydrostatic Fan Drive System Market
- The COVID-19 pandemic has caused a majority of businesses across the globe to crumble owing to the forced shutdown of production and manufacturing activities. This has led the global economy to contract to its lowest growth rate.
- Majority of businesses in every industry are codependent and are a part of major supply chain in the market. Disruption in supply chain attributing to stoppage of transportation and shipping services and reduced demand for vehicles across the globe is likely to cause the global automotive industry to contract in during the coronavirus pandemic. Additionally, the worldwide fear and panic caused by the second wave of coronavirus spread in early 2024 have again caused countries such as India, to issue an order of forced lockdown. Therefore, consumers are expected to withhold their vehicle buying decisions in early 2024. This, in turn, is anticipated to hamper the automotive hydrostatic fan drive system market in 2024.
- However, various countries worldwide have announced several aggressive monetary policies, which are being enforced since Q3 of year 2020 in order recover from economic losses caused by the corona pandemic. Therefore, in light of aggressive monetary policies boosting economic stability, the automotive hydrostatic fan drive system market is also expected to recover in 2024.
Key Players Operating in Automotive Hydrostatic Fan Drive System Market
The global automotive hydrostatic fan drive system market is concentrated owing to the presence of top manufacturers. A few key players operating in the global automotive hydrostatic fan drive system market are:
- Avid Impex Private Limited.
- Axiomatic Technologies Corporation
- Bondioli & Pavesi S.p.A.
- Bosch Rexroth AG
- Bucher Hydraulics GmbH
- CASAPPA S.p.A.
- Concentric AB
- Danfoss
- Eaton Corporation
- Haldex
- Hydraforce
- JTEKT Corporation
- Parker Hannifin Corp
- Other Key players
Global Automotive Hydrostatic Fan Drive System Market: Research Scope
Global Automotive Hydrostatic Fan Drive System Market, by Vehicle Type
- Buses
- Heavy Commercial Vehicles
- Construction Equipment
- Agricultural Tractors
Global Automotive Hydrostatic Fan Drive System Market, by Component
- Electronic Control Unit (ECU)
- Hydraulic Motor
- Hydraulic Pump
- Hydraulic Valves & Sensors
- Oil Cooler
Global Automotive Hydrostatic Fan Drive System Market, by Pump Type
- Fixed Displacement Pump
- Variable Displacement Pump
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