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.
Market Drivers:
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.
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.
Market Restraints:
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.
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.
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Report Features |
Specifics |
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Historical/Estimated/Forecasted Market Size Years |
2018-2027 |
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Base Year for Market Calculation |
2019 |
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Forecasted Period |
2020-2027 (2020 estimated year, forecasted up to 2027) |
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Measured Units |
Value (USD Million), Volume (Units) |
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Segments Included |
Component, Application, Vehicle Type, Sales Channel, and Region |
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Regional Coverage |
Asia-Pacific, North America, Europe, Middle East & Africa, and South America |
For the scope of the report, In-depth segmentation is offered by Forencis Research
Automotive Hydraulics System Market, by Component
Automotive Hydraulics System Market, by Application
Automotive Hydraulics System Market, by Vehicle Type
Automotive Hydraulics System Market, by Region
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain