Global Automotive Hydraulics System Market Size and Forecast 2023-2032|JTEKT Corporation, ZF Friedrichshafen AG, Toyota Motor Corporation, Aisin Corporation, Schaeffler Technologies AG & Co. KG

According to The Business Research Company’s Automotive Hydraulics System, The automotive hydraulics system market size has grown strongly in recent years. It will grow from <b>$40.62 billion in 2023 to $44 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. </b> 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.

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The automotive hydraulics system market size is expected to see strong growth in the next few years. It will grow to <b>$60.15 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. </b> 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.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.

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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 MarketProduct innovations are the key trends gaining popularity in the automotive hydraulics system market. Major companies operating in this automotive hydraulics systems sector are focused on developing new product innovations for market growth. For instance, in November 2021, Continental, a Germany-based automotive parts manufacturing company, launched MK C2, electro-hydraulic brake systems. The new system is lightweight with a reduced number of components, simple, powerful, and highly cost-optimized and can be integrated into multi-vehicle platforms. It can generate brake pressure whenever the driver assistance system requires pressure within 150 milliseconds.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

26. South America Automotive Hydraulics System Market

27. Brazil Automotive Hydraulics System Market

28. Middle East Automotive Hydraulics System Market

29. Africa Automotive Hydraulics System Market

30. Automotive Hydraulics System Market Competitive Landscape And Company Profile

Top Major Players: