Farmington, April 6, 2023 (GLOBE NEWSWIRE) — The Global Automotive hydraulic systems market The size is expected to exceed USD 54 billion by 2030 at a CAGR of 6.0% during the forecast period 2022-2030. Car hydraulic systems include transmission systems that use pressurized hydraulic fluid to move mechanical parts. Because of the pressure difference between the two points, the hydraulic system is able to move energy. This is very different from traditional mechanical systems, which work because kinetic energy flows through them. People think that hydraulic systems are more precise than traditional mechanical drive systems, which can lose efficiency over time due to friction. Increase in logistics activities, growth in the industrial sector, and growth in the tourism sector are likely to increase the need for commercial vehicles, which is likely to increase the need for hydraulic systems. Batteries cannot store and use energy as well as hydraulic systems. Electric drives are less efficient than hydraulic hybrids for vehicles that need a lot of power. Power steering, shock absorbers and brakes are the most common ways hydraulic systems are used in cars.
Request a sample copy of the report”Automotive Hydraulic Systems market size, share and trends estimation report by Type (Passenger Cars (PCs), Light Commercial Vehicles (LCVs), Heavy Commercial Vehicles (HCVs)), by Components (Master Cylinder, slave cylinder, reservoir, hose), by Application (brake, clutch, suspension, cleat), by region and segment forecasts, 2023 – 2030”, published by Contrive Datum Insights.
Strategic developments:
- In February 2021, Bosch Rexroth India introduced its offering to the Indian automotive market with intelligent connected hydraulic systems. Manufacturers claim that these systems are equipped with predictive analytics and help with proactive maintenance.
Regional perspectives:
Asia-Pacific is expected to hold the largest share of the global automotive hydraulic system market. This is because countries like India and China are making more cars and their governments have strict rules about vehicle safety.
The global automotive hydraulic system market is expected to grow a lot in Europe because there are already many well-established market players in places like the UK and Germany.
In the coming years, North America is expected to grow rapidly because more and more people in countries like the United States and Canada want to buy commercial vehicles.
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Scope of the report:
| Report attributes | Details |
| Growth index | CAGR of 6.0% from 2023 to 2030. |
| Revenue forecast for 2030 | USD 54 billion |
| By Type | Passenger Vehicles (PC), Light Commercial Vehicles (LCV), Heavy Commercial Vehicles (HCV), Others |
| By Application | Brake, clutch, suspension, cleat, others |
| By Application | Master cylinder, slave cylinder, reservoir, hose, others |
| For Companies | JTEKT Corporation (Japan), ZF Friedrichshafen AG (Germany), WABCO Holdings Inc. (USA), Aisin Seiki Co. Ltd. (Japan), Schaeffler Technologies AG & Co. KG (Germany), BorgWarner Inc. (USA), Robert Bosch GmbH (Germany), GKN plc (UK), FTE Automotive Group (Germany), Continental AG (Germany) |
| Regions and countries covered |
|
| base year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast year | 2023 to 2030 |
Market dynamics:
Trends and opportunities:
The market for automotive hydraulic systems is growing because more and more different types of cars are being made around the world.
Over the next few years, the automotive hydraulic systems market is expected to grow due to increasing demand for commercial vehicles in major economies.
The hydraulic system has been proven to help the engine run smoothly and help control emissions. In the future, these product features could increase demand and help grow the global automotive hydraulic system market.
Adding new technologies to already manufactured products can make them more popular in the coming years.
Other things such as increasing disposable income of different parts of the global population can also increase the demand for automobiles and help the automotive hydraulic systems market to grow.
In the coming years, the off-road vehicle type is expected to be the major contributor to the global automotive hydraulic system market. This is because automotive hydraulic systems are increasingly used in vehicles used for construction, mining and agriculture.
Key segments covered:
Major Market Players:
JTEKT Corporation (Japan), ZF Friedrichshafen AG (Germany), WABCO Holdings Inc. (USA), Aisin Seiki Co. Ltd. (Japan), Schaeffler Technologies AG & Co. KG (Germany), BorgWarner Inc. (USA), Robert Bosch GmbH (Germany), GKN plc (UK), FTE Automotive Group (Germany), Continental AG (Germany)
And others.
By type:
- Passenger cars (computers)
- Light Commercial Vehicles (LCV)
- Heavy Commercial Vehicles (HCV)
- others
By application:
- brake
- clutch
- suspension
- cleat
- others
By component:
- Master Cylinder
- slave cylinder
- Deposit
- Hose
- others
Regions and countries covered
- North America: (USA, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, United Kingdom, Nordic countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- Middle East and Africa: (Saudi Arabia, United Arab Emirates, Egypt, South Africa, Rest of the Middle East and Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- The rest of the world
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Contrive Datum Insights (CDI) is a global partner delivering market intelligence and consulting services to officials in various industries including investment, information technology, telecommunications, consumer technology and capital markets. manufacturing CDI helps the investment community, business executives and IT professionals make accurate, insight-driven decisions about technology purchases and advance sound growth tactics to stay competitive in the marketplace. Comprised of a team size of over 100 analysts and a cumulative market experience of over 200 years, Contrive Datum Insights ensures the delivery of industry insights combined with global and national expertise.
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