Automotive Hydraulic System Market

Automotive Hydraulic System Market - An Overview

The global automotive hydraulic system market is expected to witness strong growth during the forecast period between 2021 and 2031.

Hydraulic systems in an automobile refer to components, which help to lubricate and remove heat from the other parts of the vehicle.

These systems work on the principle of pressure differences between two given points in a vehicle and play a key role in offering fluids to different parts of the vehicle which generate large amounts of heat. These liquids help in reducing the heat levels, in a vehicle.

Hydraulic systems have witnessed a greater demand than traditional mechanical systems since the conventional systems have been found to witness a decrease in efficiency with the increase in friction.

Automotive Hydraulic System Market - Trends and Opportunities

Rising production of different types of vehicles globally is the key growth driver for the automotive hydraulic system market.

Also, increasing demand for commercial vehicles in leading economies is expected to fuel the growth in the overall automotive hydraulic system market, in the coming years.

Hydraulic systems have proven beneficial in the smooth functioning of an engine and helped in controlling emissions. These product features could help to propel product demand and contribute to the growth of the global automotive hydraulic systems market, in future.

Innovations to existing products by integrating new technologies in them could also bolster product demand, in the years ahead.

Other factors such as rising disposable income among different population sections worldwide could help increase the demand for automobiles and, in turn, contribute to the growth of the overall automotive hydraulic system market.

Off field vehicle type is expected to make the largest contribution to the overall automotive hydraulic system market in future owing to increased deployment of automotive hydraulic systems in vehicles that are used for construction, mining, and agricultural activities.

Automotive Hydraulic System Market - Competitive Landscape

The global automotive hydraulic system market is extremely competitive, with the presence of several prominent players, many of whom are expected to account for a large share in the overall market, in future.

Growth strategies such as novel product launches could help leading automotive hydraulic system market players, gain a competitive edge over other players.

ZF Group launched a new line of integrated brake control recently which is a non-vacuum electro-hydraulic brake apply control unit that could be used as an alternative for electronic stability control and vacuum pump, in future.

Collaboration with smaller market players could help well-established automotive hydraulic system market players expand their market presence and increase their revenue shares.

R&D undertakings to produce improved quality of products could be a key growth strategy for prominent automotive hydraulic system market players, in the coming years.

Some of the leading players in the global automotive hydraulic system market include Bosch, FTE Automotive, ZF Group, GKN, Aisin Seiki, and JTEKT.

Automotive Hydraulic System Market - Regional Assessment

The global automotive hydraulic system market is classified into five regions, namely, North America, Asia Pacific, Europe, Latin America, and Middle East and Africa.

Asia Pacific is expected to be the dominant region in the global automotive hydraulic system market owing to increased automobile production in countries such as India and China as well as strict government regulations, concerning the safety of vehicles in these countries.

Europe is expected to witness significant growth in the overall automotive hydraulic system market owing to the presence of several well-established market players in countries such as UK and Germany.

North America is expected to witness strong growth in future because of increased demand for commercial vehicles among different population sections in countries such as US and Canada.

Other parts of the world such as Latin America and Middle East and Africa are expected to witness moderate growth in the years ahead.