Automotive Hydraulic Systems Market to Observe Strong Development of 5% CAGR by 2023 | Global Key Players (Robert Bosch GmbH, Aisin Seiki, ZF group, JTEKT Corporation)

The low cost at which hydraulic systems can be fit into vehicles is a major advantage and has proved to be one of the most important factors in driving the market. Hydraulic systems can store and discharge energy more efficiently than electric batteries. Vehicles that require a lot of power are finding hydraulic hybrid drives to be more efficient than electric drives, which is expected to allow the market to register a healthy CAGR of around 5%.

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COMMERCIAL VEHICLES (CVs) ARE EXPECTED TO GAIN SIGNIFICANT MARKET SHARE

Commercial vehicles are continuously subjected to heavy loads for long distances throughout the year. This requires the vehicle to be equipped with systems, which are able to withstand heavy loads without compromising on fuel economy and power output. Hydraulic systems have an edge over electric systems in this aspect and as passenger vehicles are expected to be subjected to electrification in the near future, commercial vehicles are anticipated to remain using hydraulic systems, which would, in turn, enable them to occupy a significant market share for hydraulic systems during the forecast period.

Key Developments:

January 2018: Schaeffler showcased portfolio of low-emission and locally zero-emissions driving for all three engine systems namely, newly manufactured cars using all-electric traction systems, hybrid powertrain systems, and internal combustion engine (ICE). The company developed hydraulic-switchable valve tappet, which allows individual cylinders to be deactivated. The first three-cylinder engine using such a system from Schaeffler will likely go into production in 2018.

Key Industry Players:

Robert Bosch GmbH, Aisin Seiki, ZF group, JTEKT Corporation, among others.
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ASIA IS EXPECTED TO REMAIN THE DOMINANT REGION

Electrification in Asia-Pacific region has witnessed a high penetration rate due to the presence of China and Japan, as China is the leader market for electric vehicles and most of the automakers advancing in electric vehicle technology are from Japan. But nevertheless, the demand for commercial vehicles in the region has grown from 7,295,772 vehicles in 2015 to 8,156,633 vehicles in 2017, which is nearly 31% of the global CV sales.

The market is segmented on the basis of application (brakes, clutch, suspension, and others); by component (master cylinder, slave cylinder, reservoir and hose); by end-user (OEM and aftermarket) vehicle type (passenger cars and commercial vehicles). The regional analysis covers major countries in North America, Europe, Asia-Pacific, and Rest of the World.

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This release was published on openPR.