Power Take Off (PTO) Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis (2017-2021) and Forecast (2022-2028)

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Power Take Off (PTO) Market By Type (Power Take Offs – 6 Bolt, Power Take Offs – 8 Bolt, Power Take Offs – 10 Bolt, Others), By Application (Automotive, Machinery, and Others) and Geography

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Report

Description

The power take off (pto) market is valued at USD 410.0 million in 2021 and is poised to grow at a significant CAGR of 6.5% over 2022–2028. A PTO enables the hosting energy source to provide power to extra equipment that lacks its engine or motor. For example, A PTO allows a tractor engine to power a jackhammer. Agriculture equipment, trucks, and commercial vehicles all employ PTOs. Power take-off works by removing power from a running engine, shaft, or gear and passing it to a different machine or an associated implement. In many fields, various types of PTOs are used. For example, Semi-permanently installed power take-offs are commonly utilized to extract power from industrial and marine engines. Typically, these applications used a drive shaft and bolted joint to send power to a secondary tool or accessory. Such drive shafts could also power fire pumps in a marine application. The capacity to apply across a wide range of machinery types is driving the PTO market demand. The increasing number of Power Take-Off (PTO) market participants across geographies will likely fuel market expansion. Moreover, key vendors are likely to increase their production capabilities and company expansion investments during the research period. Many market participants are discovering attractive prospects in growing economies, where enormous populations are combined with innovative developments in various industries. Power Take Off 8-Bolt type is expected to expand at a healthy compound annual growth rate of 6.8% from 2022 to 2028. The market for the 8-bolt type accounted for a larger revenue share in 2021 and is projected to reach USD Million by 2025. These PTOs are widely used for high torque applications such as pneumatic blowers, large winches, and vacuum pumps.

Recent Market Developments:

In May 2022, ZF announced joining forces with Mercedes-Benz Trucks to equip its electric trucks with eWorX, ZF’s electrified Power Take-Off (PTO) system.

In May 2022, Ocean Harvesting has successfully completed the testing of a prototype in scale 1:10 of the power take-off (PTO) and the control system for the wave energy converter InfinityWEC, part of a project co-financed by the Swedish Energy Agency.

Power Take Off (PTO) Market

MARKET SUMMARY
-
11.0% CAGR
  • Study Period– 2022 – 2028
  • Base Year– 2021
  • CAGR– 11.0%
  • Largest Market– North America
  • Fastest Growing Market– Asia-Pacific

Power Take Off (PTO) Market

  • The power take off (pto) market report gives comprehensive outlook across the region with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
  • The power take off (pto) market is segmented based on type, application, and geography.
Key Players
  • Interpump Group
  • Weichai Power
  • Parker
  • Hyva
  • OMFB
Power Take Off (PTO) Market

Dynamics

The growing use of Power Take-Off (PTO) in automotive, machinery, and other industries propels the global Power Take-Off (PTO) market. Forestry and municipal machinery, including cranes, mowers, feeders, road sweepers, and firefighting equipment, all use them. Power take-offs are commonly utilized on backhoe loaders, dump trucks, loaders, and rough terrain forklift trucks in the construction industry. Waste collection trucks, crane trucks, car carrier trucks, low-loader trucks, and vacuum trucks, among others, all require power take-off units in their hydraulic systems. The increasing application of PTO drives the market worldwide. On the other hand, PTOs are a continuous threat to farmlands because of their quick rotation speed, operator error, and lack of suitable protecting or shielding cabinet or cage, limiting the market.


Asia-Pacific Got Significant Share

Power Take Off (PTO) Market

The power take off (pto) market in Asia is likely to hold the highest revenue share in 2022, and, in the following years, it is predicted to increase rapidly. The North American PTO market is driven by increased farming activities, technological improvements, and significant changes in the automobile industry. Between 2021 and 2028, the Asia Pacific power take-off market is expected to grow significantly. The rapid expansion of agricultural operations in numerous countries across Asia is driving up demand for PTOs.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Features of the Report

  • The power take off (pto) market report provides granular level information about the market size, regional market share, historic market (2017-2021), and forecast (2022-2028)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
Power Take Off (PTO) Market Segmentation


Location

GEOGRAPHY

Frequently Asked Questions

2021 is the base year and 2028 is the forecast year.

The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).

In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.


Report

Company Profile

  • Interpump Group
  • Parker
  • Hyva
  • OMFB
  • Weichai Power
  • Bezares
  • Zhejiang Bezares Power Transmission Co., Ltd
  • ZF Friedrichshafen AG
  • Kozanoglu Kozmaksan Ltd.
  • Ozceylanlar Hydraulic Co.
  • OMSI
  • SUNFAB

Description

The power take off (pto) market is valued at USD 410.0 million in 2021 and is poised to grow at a significant CAGR of 6.5% over 2022–2028. A PTO enables the hosting energy source to provide power to extra equipment that lacks its engine or motor. For example, A PTO allows a tractor engine to power a jackhammer. Agriculture equipment, trucks, and commercial vehicles all employ PTOs. Power take-off works by removing power from a running engine, shaft, or gear and passing it to a different machine or an associated implement. In many fields, various types of PTOs are used. For example, Semi-permanently installed power take-offs are commonly utilized to extract power from industrial and marine engines. Typically, these applications used a drive shaft and bolted joint to send power to a secondary tool or accessory. Such drive shafts could also power fire pumps in a marine application. The capacity to apply across a wide range of machinery types is driving the PTO market demand. The increasing number of Power Take-Off (PTO) market participants across geographies will likely fuel market expansion. Moreover, key vendors are likely to increase their production capabilities and company expansion investments during the research period. Many market participants are discovering attractive prospects in growing economies, where enormous populations are combined with innovative developments in various industries. Power Take Off 8-Bolt type is expected to expand at a healthy compound annual growth rate of 6.8% from 2022 to 2028. The market for the 8-bolt type accounted for a larger revenue share in 2021 and is projected to reach USD Million by 2025. These PTOs are widely used for high torque applications such as pneumatic blowers, large winches, and vacuum pumps.

Recent Market Developments:

In May 2022, ZF announced joining forces with Mercedes-Benz Trucks to equip its electric trucks with eWorX, ZF’s electrified Power Take-Off (PTO) system.

In May 2022, Ocean Harvesting has successfully completed the testing of a prototype in scale 1:10 of the power take-off (PTO) and the control system for the wave energy converter InfinityWEC, part of a project co-financed by the Swedish Energy Agency.

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