Transparency Market Research (TMR) provides key insights on the hydrostatic transmission market in its latest report titled “Hydrostatic Transmission (HT) Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026.” According to the report, rapid expansion of the construction industry in Asia Pacific is predicted to drive the hydrostatic transmission market during the forecast period.
The report has segmented the global hydrostatic transmission market can be based on vehicle capacity, shifter, end-use industry, and region. Based on shifter, the servo segment is likely to hold a major share of the hydrostatic transmission market, as it reduces the effort required to shift the gear, which makes the equipment of vehicle more ergonomic for the operator or driver. The servo segment is likely to expand at a significant rate during the forecast period due to high competitiveness in the market among equipment manufacturers to make their equipment easily maneuverable and enhance the comfort factor for the operator.
In terms of end-use industry, the construction segment is anticipated to account for a major share of the hydrostatic transmission market by the end of the forecast period. Economic expansion witnessed across the globe in the last few years has boosted the market at substantial pace and is anticipated to further boost the market during the forecast period due to the planned construction projects of most developing economies. For instance, China has planned the construction of 60 new airports by 2020.
Based on regional perspective, Asia Pacific is projected to hold a major share of the global hydrostatic transmission market and the market in the region is anticipated to expand at a significant pace during the forecast period. Moreover, expansion of construction and mining industries in Asia Pacific is likely to drive the hydrostatic transmission market during the forecast period, as the region boasts of rapid expanding economies such as China and India. North America is another prominent market, and the region is likely to hold a significant share of the global market due to the presence of large number of heavy equipment manufacturers in the region.
Major players operating in the global hydrostatic transmission market include Eaton Corporation, Dana Incorporated, KANZAKI KOKYUKOKI MFG. CO., LTD., and PARKER HANNIFIN CORP.
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