Report ID: 10324784 |
Published Date: 21 Oct 2022 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
Global Automotive Hydraulic Systems Market is valued approximately USD 34.3 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 6% over the forecast period 2020-2026. Automotive hydraulic system is a crucial component of an automobile which is used to offer hydraulic fluid where heat is produced and repairs the mechanical system. The hydraulic systems have a prominent role in automotive development, for instance, for the engineering of brakes, gears, steers as well as suspension. Lubrication is essential to resist corrosion and wear of the components in vehicles to endures a reduction in efficiency. However, the COVID-19 pandemic has a swift and severe impact on automotive sector thus, representing a substantial decline in the production of on-highway and off-highway vehicles. With the reduced production of vehicles, the use of automotive hydraulic system witnessing a considerable decline, which has resulted in the changing dynamics of these market spaces. Increasing sales of passenger cars and commercial vehicles, growing awareness of the active and passive safety of a vehicle among users and technological developments in electro-hydraulic automotive applications are the few factors responsible for high CAGR of the market over the forecast period. According to the International Organization of Motor Vehicle Manufacturers (OICA), in 2019, there were around 27 million units of commercial vehicles sold around the world, an increase of about 3.85% from 2018, which holds almost 26 million units. This, in turn, is expected to accelerate the demand for automotive hydraulic systems, thus contributing to the growth of the global market. However, high maintenance cost of hydraulic systems and availability of substitutes are the few factors expected to deter the growth of market over the forecast period of 2020-2026.
The regional analysis of global Automotive Hydraulic Systems market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-Pacific is the leading/significant region across the world in terms of market share owing to the increasing rate of adoption of automotive hydraulic systems and the presence of government norms regarding the active and passive safety of vehicles in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026, due to the rapid rise in vehicle production in the countries such as China and India.
Major market player included in this report are:
Aisin Seiki
Bosch
ZF Friedrichshafen
Borgwarner
Jtekt
Continental
Schaeffler
Wabco
GKN Driveline
FTE Automotive Group
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Component:
Hydraulic Master Cylinder
Hydraulic Slave Cylinder
Hydraulic Reservoir
Hydraulic Hose
By Application:
Hydraulic Brakes
Hydraulic Clutch
Hydraulic Suspension
Hydraulic Tappets
By On-Highway Vehicles:
Passenger Cars
Light Commercial Vehicles
Heavy Commercial Vehicles
By Off-Highway Vehicles:
Agricultural Equipment
Construction Equipment
By Region:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017, 2018
Base year – 2019
Forecast period – 2020 to 2026
Target Audience of the Global Automotive Hydraulic Systems Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
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Report ID: 10324784 |
Published Date: 21 Oct 2022 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
