The automotive hydraulic system market is predicted to grow at a CAGR of 6.57% thereby reaching US$49.382 billion in 2029 from US$35.925 billion in 2024.
A hydraulic system uses fluid power to adjust speed and acceleration dynamically. It is majorly used in the automotive sector for various applications, such as steering, brakes, and active suspension. The ongoing adoption of modern technological approaches to enhance overall vehicle performance has provided a new scope for the hydraulic systems market.
Moreover, the growing prevalence of car accidents, followed by investments to bolster innovations in brakes and power steering, has further stimulated market growth. Major automotive manufacturers have formed strategic tie-ups with major players to bolster their vehicles' safety, energy efficiency, and performance, which has led to an upward market trajectory. However, despite their performance benefits, the high cost of production is expected to act as a major market restraint, hampering the overall expansion.
Various major companies are forming strategic collaborations to promote their hydraulic systems. For instance, in September 2023, Continental AG formed a strategic partnership with DeepDive to develop hydraulic drive and brake components that will be directly mounted on wheels. The partnership will have the technical expertise of both players in the brake system. Likewise, in May 2022, Nexteer Automotive and Continental expanded their CNXMotion’s “Brake-To-Steer” technology to improve safety redundancies across electric power steering applications.
OICA data states that in 2023, automotive production in Asia Pacific reached 55.11 million units, accounting for nearly 58% of the global production volume. Production in China reached 30.160 million units, showcasing an 11.6% growth, whereas production in India, Japan, and South Korea experienced growth of 7.3%, 14.8%, and 13.1%, respectively.
North America is estimated to show significant growth fueled by the establishment of hydraulic hose and brake production plants in regional economies, namely the United States and Mexico. Likewise, the European region is projected to show constant growth during the time frame.
A hydraulic system uses fluid power to adjust speed and acceleration dynamically. It is majorly used in the automotive sector for various applications, such as steering, brakes, and active suspension. The ongoing adoption of modern technological approaches to enhance overall vehicle performance has provided a new scope for the hydraulic systems market.
Moreover, the growing prevalence of car accidents, followed by investments to bolster innovations in brakes and power steering, has further stimulated market growth. Major automotive manufacturers have formed strategic tie-ups with major players to bolster their vehicles' safety, energy efficiency, and performance, which has led to an upward market trajectory. However, despite their performance benefits, the high cost of production is expected to act as a major market restraint, hampering the overall expansion.
Automotive Hydraulic System Market Drivers:
- Growing technological adoption to bolster vehicle performance has accelerated the market expansion.
Various major companies are forming strategic collaborations to promote their hydraulic systems. For instance, in September 2023, Continental AG formed a strategic partnership with DeepDive to develop hydraulic drive and brake components that will be directly mounted on wheels. The partnership will have the technical expertise of both players in the brake system. Likewise, in May 2022, Nexteer Automotive and Continental expanded their CNXMotion’s “Brake-To-Steer” technology to improve safety redundancies across electric power steering applications.
Automotive Hydraulic System Market Geographical Outlook:
- Asia Pacific will show significant growth during the forecast period.
OICA data states that in 2023, automotive production in Asia Pacific reached 55.11 million units, accounting for nearly 58% of the global production volume. Production in China reached 30.160 million units, showcasing an 11.6% growth, whereas production in India, Japan, and South Korea experienced growth of 7.3%, 14.8%, and 13.1%, respectively.
North America is estimated to show significant growth fueled by the establishment of hydraulic hose and brake production plants in regional economies, namely the United States and Mexico. Likewise, the European region is projected to show constant growth during the time frame.
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Industry and Market Insights, Opportunity Assessment, Product Demand Forecasting, Market Entry Strategy, Geographical Expansion, Capital Investment Decisions, Regulatory Framework & Implications, New Product Development, Competitive IntelligenceReport Coverage:
- Historical data & forecasts from 2022 to 2029
- Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, Customer Behaviour, and Trend Analysis
- Competitive Positioning, Strategies, and Market Share Analysis
- Revenue Growth and Forecast Assessment of segments and regions including countries
- Company Profiling (Strategies, Products, Financial Information, and Key Developments among others)
The Automotive Hydraulic System market is segmented and analyzed as given below:
- By Application
- Brakes
- Steering
- Shock Absorbers
- By Component
- Master Cylinder
- Slave Cylinder
- Reservoir
- Hose
- By Vehicle Type
- Passenger Vehicles
- Light Commercial Vehicles
- Medium & Heavy Commercial Vehicles
- By Geography
- North America
- United States
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- UK
- Germany
- France
- Italy
- Others
- Middle East and Africa
- Saudi Arabia
- Israel
- Others
- Asia Pacific
- Japan
- China
- India
- South Korea
- Indonesia
- Thailand
- Others
- North America
Table of Contents
1. INTRODUCTION
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
5. AUTOMOTIVE HYDRAULIC SYSTEM MARKET BY APPLICATION
6. AUTOMOTIVE HYDRAULIC SYSTEM MARKET BY COMPONENT
7. AUTOMOTIVE HYDRAULIC SYSTEM MARKET BY VEHICLE TYPE
8. AUTOMOTIVE HYDRAULIC SYSTEM MARKET BY GEOGRAPHY
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
10. COMPANY PROFILES
Companies Mentioned
Some of the key companies profiled in this Automotive Hydraulic System Market report include:- FTE Automotive
- ZF Friedrichshafen AG
- Hitachi Astemo Americas, Inc.
- Robert Bosch GmBH
- Continental AG
- BorgWarner Inc.
- JTEKT ENGINEERING
- NEXTEER AUTOMOTIVE
- GKN Automotive Limited
- MZW Motor
- Scheller Automotive
- AISIN CORPORATION
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 143 |
Published | September 2024 |
Forecast Period | 2024 - 2029 |
Estimated Market Value ( USD | $ 35.93 billion |
Forecasted Market Value ( USD | $ 49.38 billion |
Compound Annual Growth Rate | 6.5% |
Regions Covered | Global |
No. of Companies Mentioned | 13 |