USD 7.88 Billion
Automotive Hydraulics System Market Size, Share, Growth Analysis, By Component(Master Cylinder, Slave Cylinder, Reservoir, and Hose), By On-Highway Vehicles(Passenger Cars, Light Commercial Vehicles, and Heavy Commercial Vehicles), By On-highway Vehicles(Passenger Car, Light Commercial Vehicles, Heavy Commercial Vehicles), By Off-Highway Vehicles(Agriculture Equipment, and Construction Equipment), By Application(Brakes, Clutch, Suspension, and Tappets), By Sales Channel(OEM, and Aftermarket), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25A2318 |
Region:
Global |
Published Date: November, 2024
Pages:
224
|Tables:
143
|Figures:
75
Automotive Hydraulics System Market Insights
Global Automotive Hydraulics System Market size was valued at around USD 40.9 billion in 2022 and is expected to rise from USD 42.5 billion in 2023 to reach a value of USD 56.1 billion by 2031, at a CAGR of 3.7% over the forecast period (2024–2031).
Increasing demand for on-highway and off-highway vehicles has increased the demand for in-vehicle plumbing systems across the globe. Increasing urbanization or increasing construction activities has increased the demand for construction vehicles with advanced electric propulsion and this in turn can create lucrative growth opportunities for vehicle fluid transportation change the market. Increasing upward trend due to increasing technology is also boosting the growth of automotive hydraulic system in the market. Growing technological advances in the use of electric and hydrocarbons coupled with government mandates for active and passive vehicle safety will further increase the demand for automotive hydraulic systems.
Trends in automotive manufacturing and sales significantly influence the automotive fluid system market. As the automotive industry expands, especially in emerging economies, the demand for vehicles equipped with hydraulic systems for braking, power steering, transmission and suspension applications will increase. Continuous advancement in hydraulic system technology is driving the market growth. Innovation focuses on improving system performance, durability and performance by reducing weight and size. Manufacturers are investing in research and development to develop new water features, materials and designs that are in line with evolving industry standards and customer requirements. Stringent regulations on automotive safety, emissions and fuel efficiency impact the automotive fluid system market. Compliance with safety standards such as ABS (Anti-Lock Braking System) and ESC (Electronic Stability Control) is driving the adoption of hydraulic braking systems with advanced features.
Market Snapshot - 2024–2031
Global Market Size
Largest Segment
Aftermarket
Fastest Growth
Passenger Cars
Growth Rate
5.0% CAGR
Global Automotive Hydraulics System Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Automotive Hydraulics System Market Segmental Analysis
Global Automotive Hydraulics System Market is segmented by Component, On-Highway Vehicles, Off-Highway Vehicles, Application, Sales Channel, and region. Based on Component, the market is segmented into Master Cylinder, Slave Cylinder, Reservoir, and Hose. Based on On-Highway Vehicles, the market is segmented into Passenger Cars, Light Commercial Vehicles, and Heavy Commercial Vehicles. Based on Off-Highway Vehicles, the market is segmented into Agriculture Equipment, and Construction Equipment. Based on Application, the market is segmented into Brakes, Clutch, Suspension, and Tappets. Based on Sales Channel, the market is segmented into OEM, and Aftermarket. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Analysis by On-highway Vehicles
In 2022, passenger cars dominated the global automotive hydraulics system market. This market segment is driven by the growing demand for advanced features in passenger vehicles. In addition, passenger cars must meet stricter safety regulations than commercial vehicles. These are the factors driving the expansion of the global automotive hydraulics system market.
LCVs, including vans, pickups and light trucks, rely on hydraulic systems for functions such as steering, braking and load control. The demand for LCVs segment is increasing due to increasing urbanization, e-commerce and rise in delivery services, contributing to the growth of the global automotive hydraulic system market.
Analysis by Distribution Channel
In 2022, the OEM group dominated the global automotive hydraulics system market. As global automotive manufacturing continues to expand and aftermarket technology continues to develop, OEMs and aftermarkets have equal potential for growth. The OEM segment plays a dominant role in the global automotive hydraulic system market. OEMs (Original Equipment Manufacturers) are companies responsible for the design, manufacture and assembly of vehicles, including the integration of various components and systems such as hydraulics. OEMs are responsible for adding hydraulic systems to vehicles during production. They work closely with hydraulic system suppliers to ensure these systems meet the specific requirements and standards of each vehicle.
The aftermarket segment is expected to grow at the significant CAGR. As vehicles age, hydraulics naturally deteriorate, requiring replacement and maintenance. Aftermarket demand for hydraulic components such as brake cylinders, master cylinders, hydraulic hoses and power steering pumps is high. Often, car owners look for aftermarket solutions to maintain or improve the performance of their vehicles. Aftermarket automotive sales are an important way to repair and upgrade plumbing systems in existing vehicles. Owners of older vehicles can opt for aftermarket hydraulic parts for performance, reliability, or even customization.
Global Automotive Hydraulics System Market By Distribution Channel
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Automotive Hydraulics System Market Regional Insights
Asia Pacific is expected to maintain its market dominance. Growing population in the region and urbanization are the major factors driving the market expansion of automotive plumbing systems. The emergence of China as a major global manufacturing hub has boosted demand for passenger cars. The availability of infrastructure and cheap labor boosts the production of automotive fluid energy systems in the region.
The automotive hydraulics systems market in North America is expected to witness the fastest growth rate. Moreover, Canada automotive hydraulic system market is expanding at the fastest rate, while US. market had the largest market share. United States has one of the largest automotive markets in the world. For the fourth consecutive year, light truck sales in the United States reached 17 million units.
Global Automotive Hydraulics System Market By Region
- Largest
- Fastest
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Automotive Hydraulics System Market Dynamics
Drivers
Increased Focus on Smart Water Treatment
- Various vendors in the aquatic ecosystem continue to invest in research and development to develop advanced aquatic equipment and provide better solutions for customers. For example, Integrated Brake Control (IBC), a non-vacuum, integrated electric-hydraulic brake by ZF Group uses a control unit that can build electronic stability control, vacuum boosters, vacuum pumps, and cables, sensors, switches, and controllers that go with them. It provides regenerative braking in one integrated package and covers powerful, fuel-efficient vehicles without the need for an additional vacuum pump. One of the key innovations to drive market expansion is the development of smart water treatment plants.
Emphasizing the Vehicle Safety
- One of the most important factors driving the growth of the global automotive hydraulic system market is the increasing demand for advanced safety features in vehicles. Automotive industry is increasingly installing hydraulic systems in vehicles to enhance safety and performance has increased. For example, a hydraulic braking system improves braking efficiency, quicker timing and better control of vehicle power to enhance road safety. Furthermore, the adoption of a hydraulic power steering system increases driving and driver comfort, and further increases the demand for vehicle climate systems.
Restraints
High construction and maintenance costs
- Hydraulic equipment requires precise steel fabrication and engineering to produce high-quality hydraulic systems. There are barriers to the cost for small and medium enterprises (SMEs) to enter the hydropower market. In addition to the initial cost of hydraulic equipment, there are also maintenance costs over a period. Hydropower plants have many things to take care of besides oil precipitation. The condition and finish of the cylinder rod should be checked regularly. When the rod is bent, the weight can change. Thus, the high cost of manufacturing and maintenance will hamper the growth of the global automotive hydraulic system market.
Environmental Concerns and the Shift to Electric Vehicles
- A remarkable restraint of environmental disturbance is generally applied mainly to water, decision problems, indeterminacy and practical applications in water systems with traditional water system. Traditional hydraulic systems, particularly those used in power steering and braking, rely on fluid-based mechanisms that pose environmental challenges due to fluid leaks, disposal issues, and the use of non-renewable resources. Possibilities have an impact. However, hybrid vehicles can continue to use hydraulic systems in certain applications, partially alleviating this limitation.
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Automotive Hydraulics System Market Competitive Landscape
The competitive environment of the Global Automotive Hydraulics System Market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Key players competing in the global market are AISIN CORPORATION; BorgWarner Inc.; Continental AG; DANTAL HYDRAULICS; FTE Automotive; Hydra-Slide; Melrose Industries PLC; NSK Ltd.; Robert Bosch GmbH; RR Parkon; Schaeffler AG; WABCO; Warner Electric; and ZF Friedrichshafen AG.These companies adopted development strategies including collaboration, product launches, mergers, acquisitions, partnerships, and production expansion to expand their consumer base globally.
Top Player’s Company Profiles
- Robert Bosch GmbH
- Continental AG
- ZF Friedrichshafen AG
- BorgWarner Inc.
- Eaton Corporation
- Aisin Seiki Co., Ltd.
- Dana Incorporated
- Magna International Inc.
- Knorr-Bremse AG
- Nexteer Automotive Group Ltd.
- Mando Corporation
- Hitachi Astemo, Ltd.
- Brembo S.p.A.
- Schaeffler AG
- Nissin Kogyo Co., Ltd.
- Hyundai Mobis Co., Ltd.
- FTE Automotive Group
- WABCO Holdings Inc.
- GKN Automotive
- Tenneco Inc.
Recent Developments
- In June 2023, the U.S. The Department of Transportation released a report showing that 92 percent of registered vehicles are passenger cars and, by 2021, account for a percentage of total vehicle miles (VMT). 88.
- In February 2021, by intelligently integrating hydraulics, Bosch Rexroth India unveiled its product range for the Indian automotive industry. According to the company, these systems have predictive analytics and help in prompt maintenance.
- On February 25, 2021, Bose Rexroth, a wholly owned subsidiary of Robert Bose GmbH, announced the launch of integrated hydraulics systems for India's automotive sector This system features predictive analytics and supports users is already undergoing maintenance.
Automotive Hydraulics System Key Market Trends
- Increasing Manufacturing Activities: Increasing manufacturing and e-commerce activities, due to technological expansion across the globe, has led to demand for transportation equipment, which has led to a rise in commercial vehicle sales. This is likely to drive the market. Commercial vehicles are constantly loaded remotely, all year round. This requires vehicle systems that can withstand heavy loads without compromising fuel consumption and energy efficiency. Hydraulic systems are simpler, safer and more cost-effective because they have fewer moving parts compared to electrical systems. This provides an upgrade from hydraulic to electrical systems and electrification of passenger vehicles is expected in the near future. Hydraulic systems for commercial vehicles will be used, in order to capture the largest market share for hydraulic systems, during the forecast period.
Automotive Hydraulics System Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
Growth in commercial vehicle sales is driving the market CAGR for automotive hydraulics systems. Globally, advances in technology and increasing numbers of manufacturing and e-commerce have increased the importance of logistics, which has led to an increase in the sales of commercial vehicles. This is likely to it markets automotive hydraulic systems. Commercial vehicles often carry large loads long distances throughout the year. This allows the vehicle to be fitted with equipment capable of withstanding heavy loads without sacrificing fuel efficiency and results.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 40.9 billion |
| Market size value in 2031 | USD 56.1 billion |
| Growth Rate | 3.7% |
| Base year | 2023 |
| Forecast period | 2024–2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Automotive Hydraulics System Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Automotive Hydraulics System Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Automotive Hydraulics System Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Automotive Hydraulics System Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Automotive Hydraulics System Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Automotive Hydraulics System Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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