5% CAGR growth by 2023 in Automotive Hydraulic Systems Market| Top Players – Aisin Seiki, Robert Bosch GmbH, ZF Group, Borgwarner, JTEKT Corporation, Continental AG, Schaeffler, Wabco, amongst others

Market Analysis:

Asia-Pacific to Dominate the Market

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.

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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 are expected to drive the market growth. 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.

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Market Segments:
Automotive Hydraulic Systems Market is segmented by:
1. Application: Brakes, Clutch, Suspension, Others
2. Component: Master Cylinder, Slave Cylinder, Reservoir, Hose
3. End-user Industry: OEM, Aftermarket
4. Vehicle Type: Passenger Cars, Commercial Vehicles (Light Commercial Vehicles, Heavy Commercial Vehicles)
5. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

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).

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