Automotive Hydraulics System Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope
Automotive hydraulic systems refer to power transmission systems that transmit energy or signals through the static or dynamic forces of liquids. This system is considered more accurate than traditional mechanical drive systems because the mechanical system can lose efficiency over time due to friction. These systems use fluids to transfer energy between two points due to the pressure difference. They can store and release energy more efficiently than batteries.

Sizing and Forecast
The automotive hydraulics system market size has grown strongly in recent years. It will grow from $40.62 billion in 2023 to $44 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to power steering adoption, heavy commercial vehicles demand, safety regulations, construction and mining equipment, material handling equipment.

The automotive hydraulics system market size is expected to see strong growth in the next few years. It will grow to $60.15 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to electrification and hybridization, lightweight materials, advanced driver assistance systems (adas), construction industry growth, precision agriculture, condition monitoring and predictive maintenance. Major trends in the forecast period include electro-hydraulic systems, energy-efficient hydraulic systems, intelligent hydraulic control, hydraulic hybrid vehicles, modular and scalable designs, eco-friendly hydraulic fluids.

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Segmentation & Regional Insights
The automotive hydraulics system market covered in this report is segmented –

1) By Component: Master Cylinder, Slave Cylinder, Reservoir, Hose
2) By Vehicle Type: Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles
3) By Application: Brake, Clutch, Suspension, Tappet
4) By End User: Original Equipment Manufacturer (OEM), After Market

Asia-Pacific was the largest region in the automotive hydraulics system market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive hydraulics system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
Increasing vehicle production is expected to propel the growth of the automotive hydraulics system market going forward. A vehicle is referred to as a means of transportation that is used to transport people and goods. Hydraulic systems can store and discharge energy in vehicles that work more efficiently than electric batteries in vehicles. These systems assist the drivers in reducing the steering effort of vehicles. For instance, according to the India Brand Equity Foundation (IBEF), an India-based export promotion agency, in 2022, 22.93 million vehicles will be produced in India. Therefore, increasing vehicle production is driving the growth of the automotive hydraulics system market.

Key Industry Players
Major companies operating in the automotive hydraulics system market report are JTEKT Corporation, ZF Friedrichshafen AG, Toyota Motor Corporation, Aisin Corporation, Schaeffler Technologies AG & Co. KG, BorgWarner Inc., Robert Bosch GmbH, GKN Ltd., Fte Automotive GmbH, Continental Hydraulics Inc., Warner Electric LLC, Altra Industrial Motion Corp., Dantal Hydraulics Pvt. Ltd., RR Parkon LLC, Brakes India Limited, Bosch Rexroth Corporation, Eaton Corporation, Parker Hannifin Corporation, KYB Corporation, WABCO Holdings Inc., Hawe Hydraulik SE, Linde Hydraulics GmbH & Co. KG, Voith Group, Danfoss Power Solutions AS, Marzocchi Pumps USA, Sun Hydraulics LLC, Bucher Hydraulics GmbH, Oilgear Company, Duplomatic Oleodinamica S. p. A., HydraForce Inc.

The automotive hydraulics system market report table of contents includes:

1. Executive Summary

2. Automotive Hydraulics System Market Characteristics

3. Automotive Hydraulics System Market Trends And Strategies

4. Automotive Hydraulics System Market – Macro Economic Scenario

5. Global Automotive Hydraulics System Market Size and Growth

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31. Global Automotive Hydraulics System Market Competitive Benchmarking

32. Global Automotive Hydraulics System Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Automotive Hydraulics System Market

34. Automotive Hydraulics System Market Future Outlook and Potential Analysis

35. Appendix

Top Major Players:

JTEKT Corporation

ZF Friedrichshafen AG

Toyota Motor Corporation

Aisin Corporation

Schaeffler Technologies AG & Co. KG

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