Hydrostatic Transmission Market Will Reportedly Expand to Reach Beyond US$ 10 Bn by 2028 End - Future Market Insights

VALLEY COTTAGE, New York, May 30, 2018 /PRNewswire/ --

On the backdrop of growing power transmission requirements in off road vehicles and material handling systems, Future Market Insights projects a promising growth outlook for the global hydrostatic transmission market for the next decade. Estimated at a CAGR value of 5.9% over 2018-2028, the market will reportedly expand to reach beyond US$ 10 Bn by 2028 end.

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By capacity, in terms of value, medium duty segment will continue to represent maximum market value, owing to higher end use applications and ideal weight for transmission purpose compared to light duty and heavy duty equipment.

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Adoption of Hydrostatic Transmission Pushed up by a Broadening Application Base in Agricultural Industry 

Global hydrostatic transmission market is primarily driven by increasing agricultural activities, leading to the demand and availability of an extensive range of agricultural equipment. One of the top advantages that hydrostatic transmission offers when used in such vehicles is its capability to deliver precise amount of power at low speed and high torque, simultaneously. This attribute makes it an ideal transmission system for off road vehicles, including those used in construction machinery, mining equipment, and material handling equipment.

Additionally, hydrostatic transmission is more versatile when compared to its mechanical counterparts, wherein a variable output can be achieved through fixed input power and other combinations unlike mechanical transmission. The changes in step-less speed ratio of hydrostatic transmission also makes it an attractive prospect for the OEMs to capitalize on, for their products. Hydrostatic transmission is also preferred by various end users owing to other myriad advantages such as low inertia, high torque-to-speed ratio, and dynamic braking, which are expected to further encourage the growth of market in next few years.