growing focus on smart hydraulic equipment is driving the Automotive Hydraulics System Market

Latest News:- Automotive Hydraulics System Market: Passenger cars is expected to lead the Application segment during 2024-2028

Technavio analyzes that the Automotive Hydraulics System Market is expected to grow at a CAGR of 2.8% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 5452.2 million.There are various factors that contribute to the growth of the market. The Automotive Hydraulics System Market is witnessing significant growth due to the increasing focus on advanced hydraulic equipment. Smart hydraulic systems, which offer enhanced efficiency, precision, and safety, are gaining popularity in the automotive industry. These systems utilize advanced technologies such as sensors, actuators, and control systems to optimize performance and reduce maintenance requirements. The adoption of smart hydraulics is expected to drive market growth in the coming years.

The automotive hydraulics system market encompasses various end-use industries, with the passenger cars segment exhibiting significant growth. This expansion is primarily driven by the increasing demand for advanced features and stringent safety regulations. Consumers' evolving expectations have led automakers to integrate sophisticated hydraulic systems for applications such as braking, steering, and suspension. Regulations mandating technologies like Anti-Lock Braking Systems (ABS) and Electronic Stability Control (ESC) further fuel market growth. Technological innovations, including adaptive suspension systems and precision braking mechanisms, are becoming standard features in modern passenger vehicles, catering to consumer preferences for improved performance, handling, and overall driving comfort. Additionally, the market extends to other industries, including theme parks for special effects, industrial settings for safety systems and transmissions, water treatment, electricity production in dams, and buildings. 

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Automotive Hydraulics System Market Segmentation

• Application
  • Passenger cars
  • Commercial vehicles
• Geography
  • APAC
  • North America
  • Europe
  • South America
  • Middle East and Africa

Top Performing Companies

As per our research findings, here are some of the key competitors that are leading the industry

• AISIN CORP.
• Altra Industrial Motion Corp.
• BorgWarner Inc.
• Continental AG
• Cool Cars Engineering
• DANA TM4 INC.
• Dantal Hydraulics Pvt Ltd.
• ElringKlinger AG
• FTE automotive GmbH
• JTEKT Corp.
• Lalit Hydraulics Systems
• NSK Ltd.
• Patson Hydrotech
• Robert Bosch GmbH
• RR Parkon
• Schaeffler AG
• ZF Friedrichshafen AG

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Research Analysis Overview

The Automotive Hydraulics System Market encompasses various applications of hydraulic systems and components in diverse industries. These include agriculture, entertainment, energy, aerospace, landscaping, marine, waste management, and more. Hydraulic principles facilitate fluid movement through hydraulic pumps and motors, powering machinery such as hydraulic cylinders in concrete pumping, agricultural machinery, and motion pictures. Hydraulic equipment designs ensure efficient hydraulic pressure and precision, with applications ranging from agricultural machinery to theme parks. Hydraulic fluids lubricate and transmit power, while hydraulic components like pumps and motors are integral to the functioning of hydraulic machinery.

Market Research Overview

The Automotive Hydraulics System market is a significant segment of the larger industrial machinery and supplies and components market. This market encompasses businesses specializing in the manufacturing of hydraulic systems, machinery, and components. These include hydraulic principles, fluids, cylinders, and various applications such as agriculture, entertainment, energy, aerospace, landscaping, and marine. The global industrial machinery and supplies and components market size is determined by the combined revenue generated by manufacturers of machinery and components utilized in industrial settings. Factors driving growth in this sector include increasing industrial production in process and discrete industries, as well as rising demand for energy, chemicals and petrochemicals, pulp and paper products, and processed food and beverages in developing countries.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

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Technavio Research
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