Global Automotive Hydraulics System Market

Automotive Hydraulics System Market Size, Share, Growth Analysis, By Component (Master Cylinder, Slave Cylinder, Reservoir, and Hose), By Application (Brakes, Clutch, Suspension, and Tappets), By Region - Industry Forecast 2024-2031

Report ID: SQMIG25A2318 | Region: Global | Published Date: April, 2024
Pages: 224 | Tables: 143 | Figures: 75

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.

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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).

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. '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.'

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.

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.

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.

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Global Automotive Hydraulics System Market

Report ID: SQMIG25A2318

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