Automotive Hydraulics System Market Outlook 2028
The automotive hydraulic system involves a transmission system that utilizes pressurized hydraulic fluid to drive a mechanical system. This hydraulic system operates by transferring energy due to pressure differences between two points. This stands in stark contrast to traditional mechanical systems that rely on kinetic energy flow. The hydraulic system is considered more accurate compared to traditional mechanical drive systems, as mechanical systems can experience reduced efficiency over time due to friction. With the increasing activities in logistics, expansion of the industrial sector, and growth in the tourism sector, the demand for commercial vehicles is expected to rise, subsequently driving the demand for hydraulic systems. Hydraulic systems are known for their efficient energy storage and release capabilities, which outperform batteries. Vehicles requiring substantial power find hydraulic hybrid drives to be more efficient than electric drives. The most common applications of hydraulic systems in automobiles are power steering, shock absorbers, and brakes.
Automotive Hydraulics System Market Trends
The market growth for automotive hydraulics systems is driven by the increasing demand for commercial vehicles. The rising sales of commercial vehicles contribute to the Compound Annual Growth Rate (CAGR) of the automotive hydraulics system market. With the global growth of the industrial sector and a rise in construction and e-commerce operations, there is an increasing need for material transportation, leading to higher sales of commercial vehicles. This is expected to propel the market for vehicle hydraulic systems.
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Commercial vehicles regularly handle heavy loads over extensive distances throughout the year. Consequently, these vehicles require equipment capable of withstanding significant loads without compromising fuel efficiency and production. Due to their simplicity, safety, and affordability resulting from fewer moving components compared to electric systems, hydraulic systems hold a competitive advantage over electric systems. While the electrification of passenger vehicles is anticipated in the near future, commercial vehicles are expected to continue utilizing hydraulic systems, contributing significantly to the automotive hydraulics system market’s revenue.
Intelligent hydraulic equipment is gaining traction, and various businesses in the hydraulic ecosystem are investing in research and development projects to create more advanced hydraulic equipment and offer consumers better options. For instance, Z.F. Group introduced integrated brake control (IBC), a non-vacuum, integrated electro-hydraulic brake apply control unit that replaces the electronic stability control, vacuum booster, vacuum pump, and associated cables, sensors, switches, and controllers. It provides regenerative braking and fuel-efficient power trains in a single, integrated device without additional vacuum pumps. The development of intelligent hydraulic equipment is expected to drive the market’s expansion.
Some of the major players operating in global automotive hydraulics system market are Robert Bosch GmbH, ZF Friedrichshafen, Borgwarner, JTEKT, Continental, GKN, Wabco, FTE Automotive, Schaeffler, Aisin Seiki Co. Ltd. Major companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments.
Automotive Hydraulics System Industry Developments
- In February 2021, Bosch Rexroth India showcased its product range for the Indian automotive industry, featuring intelligently linked hydraulics with predictive analytics and support for proactive maintenance.
- In January 2018, Z.F. Group introduced integrated brake control (IBC), a non-vacuum, integrated electro-hydraulic brake application control unit that incorporates electronic stability control, vacuum booster, vacuum pump, and associated cables, sensors, switches, and controllers. It provides regenerative braking and fuel-efficient power trains in a single, integrated device without additional vacuum pumps. IBC production commenced in 2018.
Top Impacting Factors
- Growing focus on smart hydraulic equipment, increasing number of constructions, and rise in e-commerce activities are driving market growth.
- High manufacturing & maintenance costs and availability of alternative products are expected to hamper market growth.
- Rising demand for commercial vehicles and economic development present opportunities for market investments.
Key Target Audience:
- Manufacturers of Automotive Hydraulics System
- Automotive OEMs
- Infrastructure Development Companies
- Raw material suppliers
- Traders, Distributors, and Suppliers
- Industry associations and experts
- Research organizations and consulting companies
- Research Institutes
- Market research and consulting firms.
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