Global Automotive Hydraulics System Market: Key Highlights
Global Automotive Hydraulics System Market: Key Market Dynamics
Global Automotive Hydraulics System Market: Regional Overview
The growth in the automotive sector in Asia-Pacific is mainly attributed to the increasing demand for vehicle sales and infrastructure development. This results in Asia-Pacific to be the largest contributor to the automotive hydraulics system market. Furthermore, supportive government regulations such as Bharat Stage Emission Standards regarding vehicle’s active and passive safety are attributing the growth of automotive hydraulics systems.
The growing automotive sector in the region is the prominent factor pushing the overall economy. In Europe, the rising demand for vehicle production leads to an increased need for high-end vehicles which has boosted the automotive hydraulics system market. In Europe, 19.2 million vehicles are manufactured every year as per the data shared by the European Automobile Manufacturers Association (ACEA).
Global Automotive Hydraulics System Market: Key Players Overview
Robert Bosch GmbH is a German-based company that operates through 4 business segments, which are, mobility solutions, industrial technology, consumer goods, and energy and building technology. The company offers a range of products which includes driver assisting systems, driving safety systems, connectivity solutions, and infotainment solutions. In 2019, Robert Bosch Automotive Steering acquired 26% stake of ZF Steering Gar India, which is a leading supplier of ball and nut integral hydraulic power, worm, and roller mechanical steering system.
Automotive manufacturing company Continental AG operates globally and is engaged in developing brake system, interior electronics, safety solutions, and automotive components. In 2019, Continental AG received EuroBrake 2018 award for hydraulic brake system due to its contribution in the field of Noise, Vibration, and Harshness (NVH).
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