Automotive Hydraulics System Market: Summary
The Global Automotive Hydraulics System Market is estimated to reach USD 57.1 Million by 2027 at a CAGR of 6.7 %.
The automotive hydraulic system helps to transfer hydraulic fluid where heat is generated in the various components of the vehicle. The components are a subject to corrosion as they are made of metal, therefore, lubrication is required to prevent corrosion. Thus, hydraulic systems are used as lubrication in the various mechanical systems of the vehicle to promote proper functioning of the vehicles. Owing to these benefits, the system is used in brakes, clutch, tappets, and suspension.
Automotive Hydraulics System Market: Drivers & Restraints
- Rise in Demand for Energy Efficient Vehicles
Hydraulic systems transmit power by using pressurized fluid to drive it into the mechanical system. These systems are an efficient transmitter of power. Hydraulic systems are energy efficient with good controllability as it helps in lowering the frictions in mechanical and electrical systems. In addition to this, strict emission standards imposed by government authorities results in automobile manufacturers to produce energy-efficient vehicles which help in reducing emission.
Therefore, rise in demand for energy-efficient vehicles is expected to drive the automotive hydraulics system market during the forecast period.
- Increasing Production & Sales of Automobile
Growing vehicle production and sales will increase the demand of automotive hydraulic systems. In 2018, India, Malaysia, Thailand, Russia and among others are the prominent countries that have shown positive growth of 8%, 12.2%, 9%, 13.9%, respectively.
Thus, the rise in production and sales of vehicles are anticipated to boost the market growth during the forecast period.
The growth of this market is hampered owing to the higher service cost of the product. Hydraulic fluid is expensive so changing it before time results in unnecessary downtime of the vehicle. In addition to this, using the wrong type of fluid results in an increased repair cost.
Automotive Hydraulics System Market: Key Segments
- By Component: Hydraulic Reservoir, Hydraulic Hoses, Hydraulic Slave Cylinder, and Hydraulic Master Cylinder.
- By Application: Brakes, Clutch, Tappets, Suspension, Power Steering, and Others.
- By Vehicle Type: On-Road and Off-Road.
- By Sales Channel: Original Equipment Manufacturers (OEM) and Aftermarket.
- Key Regions Covered: Asia-Pacific, North America, Europe, Middle East & Africa and South America with individual country-level analysis.
Automotive Hydraulics System market: Report Scope
The report on the Automotive Hydraulics System Market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Historical/Estimated/Forecasted Market Size Years
Base Year for Market Calculation
2020-2027 (2020 estimated year, forecasted up to 2027)
Value (USD Million), Volume (Units)
Component, Application, Vehicle Type, Sales Channel, and Region
Asia-Pacific, North America, Europe, Middle East & Africa, and South America
Key Companies Covered
- AISIN SEIKI Co., Ltd. (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- Robert Bosch GmbH
- ZF Friedrichshafen AG
- BorgWarner Inc.
- JTEKT Corporation
- Continental AG
- Schaeffler AG
- FTE automotive GmbH
- Melrose Industries PLC
Automotive Hydraulics System Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Automotive Hydraulics System Market, by Component
- Hydraulic Reservoir
- Hydraulic Hoses
- Hydraulic Slave Cylinder
- Hydraulic Master Cylinder
Automotive Hydraulics System Market, by Application
- Power Steering
Automotive Hydraulics System Market, by Vehicle Type
- Passenger Cars
- Light-Duty Vehicles (LDV)
- Heavy-Duty Vehicles (HDV)
- Agricultural Vehicles
- Construction Vehicle
Automotive Hydraulics System Market, by Region
- South Korea
- Rest of Asia-Pacific
- North America
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Rest of South America
Key Questions answered by the report
- What are the major developments impacting the global market and its growth?
- What will be the effects of the developments in the global market on the industry and the market players in the near and far future?
- What are the evolving types of the global market?
- What are the evolving applications of the global market?
- What are the major characteristics that will affect the global market growth during the study period?
- Who are the key global players operating in the market?
- How are the major players leveraging in the existing global market conditions?
- Automotive Hydraulics System Market Providers
- Automotive Hydraulics System Market Solution and Services Suppliers, Distributors and Dealers
- End-Users of Varied Segments of Automotive Hydraulics System Market
- Government Bodies and Intellectual Institutions
- Associations and Industrial Organizations
- Research & Consulting Service Providers
- Research & Development Organizations
- Investment Banks & Private Equity Firms
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE Automotive Hydraulics System Market STUDY