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Growing Vehicle Production Boosts Automotive Hydraulics System Market: Powering Innovation and Expansion in the Automotive Hydraulics System Market by 2025
Automotive Hydraulics System
What Is the Expected CAGR for the Automotive Hydraulics System Market Through 2025?
The market size for the automotive hydraulics system has seen considerable growth in the past few years. The market is set to expand from its $43.39 billion value in 2024 to a worth of $46.72 billion in 2025, which represents a compound annual growth rate (CAGR) of 7.7%. Factors that have propelled growth in the historical period include the adoption of power steering, a surge in demand for heavy commercial vehicles, safety regulations, the use of such systems in construction and mining equipment, as well as in material handling equipment.
What's the Projected Size of the Global Automotive Hydraulics System Market by 2029?
Strong expansion is projected for the automotive hydraulics system market in the forthcoming years, with the market size anticipated to reach $64.73 billion by 2029, growing at a compound annual growth rate (CAGR) of 8.5%. Factors contributing to this growth during the forecast period include the introduction of electrification and hybridization, utilization of lightweight materials, the advent of advanced driver assistance systems (ADAS), growth in the construction industry, precision agriculture, and the use of condition monitoring and predictive maintenance. Key trends to watch during the forecast period are electro-hydraulic systems, energy-efficient hydraulic systems, smart hydraulic control, hydraulic hybrid vehicles, modular and scalable designs, and the use of environmentally friendly hydraulic fluids.
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Top Growth Drivers in the Automotive Hydraulics System Industry: What's Accelerating the Market?
The automotive hydraulics system market is set to expand, fueled by a surge in vehicle production. A vehicle, utilized for moving both people and goods, can effectively store and release energy through hydraulic systems, which operate more efficiently than their electrical battery counterparts. These systems play a crucial role in lightening the driver's steering effort. As per the India Brand Equity Foundation (IBEF), an export promotion agency based in India, there will be production of 22.93 million vehicles in 2022 in India alone. This rise in vehicle production is a significant factor propelling the automotive hydraulics system market's growth.
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What Trends Will Shape the Automotive Hydraulics System Market Through 2029 and Beyond?
The trend of product innovations is making waves in the automotive hydraulics system market. Dominating firms in this sector are focusing on launching innovative products to fuel market expansion. As an illustration, Danfoss, a manufacturing company based in Denmark, unveiled the Winner Hydraulic Hoses in October 2023. Winner offers a diverse range of solutions engineered to satisfy standard performance demands at a competitive cost. Supported by a thoroughly designed system of fitting qualifications, assembly machinery, and extraordinary value-added services, the Winner series guarantees dependable and leakage-free performance. It also assures reduced maintenance and a lower total cost of ownership. Its consistent design quality satisfies EN and SAE industry norms, and provides entirely system-engineered solutions.
What Are the Main Segments in the Automotive Hydraulics System Market?
The automotive hydraulics system market covered in this report is segmented -
1) By Component: Master Cylinder, Slave Cylinder, Reservoir, Hose
2) By Vehicle Type: Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles
3) By Application: Brake, Clutch, Suspension, Tappet
4) By End User: Original Equipment Manufacturer (OEM), After market
Subsegments,
1) By Master Cylinder: Conventional Master Cylinder, Dual Circuit Master Cylinder, ABS Master Cylinder
2) By Slave Cylinder: Clutch Slave Cylinder, Brake Slave Cylinder
3) By Reservoir: Plastic Reservoir, Metal Reservoir
4) By Hose: High-pressure Hydraulic Hose, Low-pressure Hydraulic Hose, Flexible Hydraulic Hose
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Which Top Companies are Driving Growth in the Automotive Hydraulics System Market?
Major companies operating in the automotive hydraulics system market include JTEKT Corporation, ZF Friedrichshafen AG, Toyota Motor Corporation, Aisin Corporation, Schaeffler Technologies AG & Co. KG, BorgWarner Inc., Robert Bosch GmbH, GKN Ltd., Fte Automotive GmbH, Continental Hydraulics Inc., Warner Electric LLC, Altra Industrial Motion Corp., Dantal Hydraulics Pvt. Ltd., RR Parkon LLC, Brakes India Limited, Bosch Rexroth Corporation, Eaton Corporation, Parker Hannifin Corporation, KYB Corporation, WABCO Holdings Inc., Hawe Hydraulik SE, Linde Hydraulics GmbH & Co. KG, Voith Group, Danfoss Power Solutions AS, Marzocchi Pumps USA, Sun Hydraulics LLC, Bucher Hydraulics GmbH, Oilgear Company, Duplomatic Oleodinamica S. p. A., HydraForce Inc.
Which Regions Will Dominate the Automotive Hydraulics System Market Through 2029?
Asia-Pacific was the largest region in the automotive hydraulics system market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive hydraulics system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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