ID: MRFR/AM/4282-HCR | February 2021 | Region: Global | 100 pages
Automotive hydraulics system market is estimated to grow at a CAGR of approx. 6%, during the forecast period.
The automotive hydraulic system involves a transmission system that uses pressurized hydraulic fluid to drive a mechanical system. Thus, the hydraulic system functions on the transfer of energy due to the pressure difference between two points. This is radically different compared to the traditional mechanical system, which relies on the system functioning due to the flow of kinetic energy. The hydraulic system is considered more accurate compared to the traditional mechanical drive systems, since the mechanical system can undergo a reduction in efficiency with time because of friction. Comparatively, efficiency drops moderately in the hydraulic system, over time.
There are several factors that are responsible for the growth of automotive hydraulics system market in the global scenario. Firstly, with rising competition, automobile manufacturers want to present a different and technologically better product to stand out and get noticed by the consumer. Secondly, the hydraulic system is more efficient and consistent compared to the traditional mechanical drive system. Thirdly, the hydraulic system can be integrated with one another – as in, a single master cylinder can be used to drive two or more slave cylinders; thus, providing with ease of operation and maintenance. The global automotive hydraulics system market is estimated to grow at a CAGR of approx. 6%, during the forecast period of 2017-2023.
On the basis of application, the most extensive use of this system will be in the hydraulic brake system. This is because the suspension system market already has a tried-and-tested proven record of incorporating hydraulic system. The brake technology, on the other hand, has gone through a lot of positive changes in terms of technology, the most current efficient system being hydraulic braking. On the basis of component, hydraulic system will be the most widely used in slave cylinder. This is because, the slave cylinder has diverse applications – such as in the functioning of the clutch and gear mechanism (engagement & disengagement) and the disc brake system where it converts the mechanical pressure into appropriate hydraulic pressure applied on the disc brake pads. On the basis of end market, both the types, i.e., OEM and after market has equal scope for growth since the global automobile production has increased continuously, along with the advancements in the after-sales service technology.
The key players in the automotive hydraulics system market are 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), and Continental AG (Germany), among others.
On the basis of region, the market is segmented into North America, Asia Pacific, Europe, and Rest of the World. The North America market (the U.S. and Canada, in particular) accounts for the one of the largest automotive markets in the world. The public transport system here is not very efficient, thus, compelling people to purchase and use personal automobiles for their daily requirements. Owing to the large requirement of automobiles and low cost of production of vehicles on a mass production scale, hydraulic systems will see consistent growth in this market. The Asia Pacific market will see substantial growth in the demand for this system due to development in infrastructure, improving road conditions, and supporting government regulations. The Europe market is known to produce some of the most high-end cars. Thus, the hydraulic system, with its long history, provides an ideal fit in terms of consistency and reliability in this market.
The report for Global Automotive Hydraulics System Market of Market Research Future comprises extensive primary research, along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
|Market Size||2027: Significant Value|
|CAGR||6% CAGR (2020 to 2027)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Application, Component, End Market and Vehicle Type|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||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), and Continental AG (Germany)|
|Key Market Opportunities||Increased continuously, along with the advancements in the after-sales service technology|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The market can achieve a growth value of roughly 6%.
The market position around the world is projected to surge magnificently in the coming years.
The renowned companies are GKN plc (U.K.), Schaeffler Technologies AG & Co. KG (Germany), FTE Automotive Group (Germany), ZF Friedrichshafen AG (Germany), Continental AG (Germany), TEKT Corporation (Japan), Robert Bosch GmbH (Germany), WABCO Holdings, Inc. (U.S.), Aisin Seiki Co., Ltd. (Japan), and others.
The APAC market can note substantial growth during the conjectured timeline.
The primary markets in North America are Canada as well as U.S.