Automotive HVT systems: Key market research findings
- Growing demand for fuel efficiency boosts market growth
- The Americas dominate the market geographically
- Key vendors – Kinetics Drive Solutions and Bosch Rexroth
In terms of units shipped, Technavio’s market research analysts predict the global automotive HVT systems market to reach 1,872 units by 2020. The increasing demand for fuel efficiency augments the need for hydromechanical variable transmission (HVT) systems in the market. HVT technologies provide better fuel efficiency than other transmission systems such as continuously variable transmission (CVT), dual-clutch transmission (DCT), and automated manual transmission (AMT) and is used in heavy-duty off-road vehicles such as tractors, front-end loaders, motor graders, heavy material handling vehicles, and forestry skidders. During 2015, the Americas dominated the global HVT systems market by accounting for almost 45% of the market’s revenue. Higher fuel economy, the growing demand for low-emission technologies, enhanced driving experience, and productivity are some of the factors that will propel growth in the automotive HVT systems market in the Americas during the forecast period.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Of late, there is a lot of focus on technological advancements that can enhance HVT systems. HVT manufacturers are working towards innovations in the system that can make it more reliable and efficient. HVT R2 and R3 are examples of such enhanced HVT systems in the market. Manufactured by Dana Rexroth, the R2 offers up to 25%, and the R3 offers up to 20% of fuel savings and great comfort due to uninterrupted acceleration,” says Siddarth Jaiswal, Lead Analyst, Automotive, Technavio Research.
HVT systems are gaining more traction in the market due to its increasing demand from other applications such as heavy-duty off-road vehicles. The growing need to minimize fossil fuel consumption and vehicular emissions is prompting vendors to develop advanced, sophisticated, and efficient propulsion systems. In addition, the introduction of enhanced HVT technologies such as hydromechanical variable power-split transmission, hydromechanical CVT, and hydromechanical infinite transmission are opening up opportunities for the use of these technologies in other applications such as earthmoving equipment and construction machinery.
The key vendors in the global automotive HVT market include Kinetics Drive Solutions and Bosch Rexroth. Though the market is currently consolidated with a few major players, the growing need for cost-effective and efficient transmission systems will provide new vendors the opportunity to enter the market. Existing players are constantly increasing their R&D expenditures to develop new transmission systems. This will further intensify vendor competition in the market in the next four years.
A more detailed analysis is available in the Technavio report, Global Automotive HVT Systems Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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