Farmington, April 06, 2023 (GLOBE NEWSWIRE) -- The Global Automotive Hydraulic Systems Market Size is expected to cross USD 54 billion by 2030 at a CAGR of 6.0% during the forecast period 2022-2030. Hydraulic systems in cars include transmission systems that use hydraulic fluid under pressure to move mechanical parts. Due to the difference in pressure 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 accurate than traditional mechanical drive systems, which can lose efficiency over time due to friction. Increasing logistics activities, growth in the industrial sector, and growth in the tourism sector are all likely to increase the need for commercial vehicles, which is likely to increase the need for hydraulic systems. Batteries can't store and use energy as well as hydraulic systems can. Electric drives are less efficient than hydraulic hybrid drives for vehicles that need a lot of power. Power steering, shock absorbers, and brakes are the most common ways that hydraulic systems are used in cars.
Request Sample Copy of Report “Automotive Hydraulic Systems Market Size, Share & Trends Estimation Report By Type (Passenger Cars (PCs), Light Commercial Vehicles (LCVs), Heavy Commercial Vehicles (HCVs)), By Component (Master Cylinder, Slave Cylinder, Reservoir, Hose), By Application (Brake, Clutch, Suspension, Tappet), By Region, And Segment Forecasts, 2023 - 2030”, published by Contrive Datum Insights.
Strategic Developments:
- In February 2021, Bosch Rexroth India unveiled its offering to the Indian automotive market with intelligent connected hydraulics. The manufacturers claim these systems are equipped with predictive analytics and help with proactive maintenance.
Regional Outlook:
Asia-Pacific is expected to have 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 overall automotive hydraulic system market is expected to grow a lot in Europe because there are already a lot of well-established market players in places like the UK and Germany.
In the next few years, North America is expected to grow quickly because more and more people in countries like the United States and Canada want to buy commercial vehicles.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 6.0% from 2023 to 2030. |
| Revenue Forecast by 2030 | USD 54 Billion |
| By Type | Passenger Cars (PCs), Light Commercial Vehicles (LCVs), Heavy Commercial Vehicles (HCVs), Others |
| By Application | Brake, Clutch, Suspension, Tappet, Others |
| By Application | Master Cylinder, Slave Cylinder, Reservoir, Hose, Others |
| By Companies | JTEKT Corporation (Japan), ZF Friedrichshafen AG (Germany), WABCO Holdings Inc. (U.S.), Aisin Seiki Co. Ltd. (Japan), Schaeffler Technologies AG & Co. KG (Germany), BorgWarner Inc. (US), Robert Bosch GmbH (Germany), GKN plc (U.K.), 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 automotive hydraulic system market is growing because more and more different kinds of cars are being made all over the world.
Over the next few years, the market for automotive hydraulic systems is expected to grow because of the rising demand for commercial vehicles in major economies.
It has been shown that the hydraulic system helps the engine run smoothly and helps keep the emissions in check. In the future, these product features could increase demand and help the global automotive hydraulic system market grow.
Adding new technologies to already-made products can make them more popular in the years to come.
Other things, like a rise in the disposable income of different parts of the world's population, can also increase the demand for cars and help the market for automotive hydraulic systems grow.
In the coming years, the off-field vehicle type is expected to be the largest contributor to the overall automotive hydraulic system market. This is because automotive hydraulic systems are being used more and more in vehicles used for construction, mining, and farming.
Key Segments Covered:
Top Market Players:
JTEKT Corporation (Japan), ZF Friedrichshafen AG (Germany), WABCO Holdings Inc. (U.S.), Aisin Seiki Co. Ltd. (Japan), Schaeffler Technologies AG & Co. KG (Germany), BorgWarner Inc. (US), Robert Bosch GmbH (Germany), GKN plc (U.K.), FTE Automotive Group (Germany), Continental AG (Germany)
, and others.
By Type:
- Passenger Cars (PCs)
- Light Commercial Vehicles (LCVs)
- Heavy Commercial Vehicles (HCVs)
- Others
By Application:
- Brake
- Clutch
- Suspension
- Tappet
- Others
By Component:
- Master Cylinder
- Slave Cylinder
- Reservoir
- Hose
- Others
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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- Automotive Lubricants Market - The Global Automotive Lubricants Market Size Was Valued At USD 66.87 Billion In 2021. The Market Is Projected To Grow From USD 68.63 Billion In 2022 To USD 76.61 Billion In 2029, Exhibiting A CAGR Of 1.6% During The Forecast Period.
- Automated Liquid Handling System Market - The global Automated Liquid Handling System market size was valued at USD 1.67 Billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 10.44% from 2023 to 2030.
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Contrive Datum Insights (CDI) is a global delivery partner of market intelligence and consulting services to officials at various sectors such as investment, information technology, telecommunication, consumer technology, and manufacturing markets. CDI assists investment communities, business executives, and IT professionals to undertake statistics-based accurate decisions on technology purchases and advance strong growth tactics to sustain market competitiveness. Comprising of a team size of more than 100 analysts and cumulative market experience of more than 200 years, Contrive Datum Insights guarantees the delivery of industry knowledge combined with global and country-level expertise.
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