Increasing sales of on-highway vehicles and infrastructural development in emerging economies globally to fuel the demand for the automotive hydraulics system market
The global automotive hydraulics system market is projected to grow at a CAGR of 6.04% from USD 32.13 billion in 2017 to reach USD 51.37 billion by 2025. Increasing sales of on-highway vehicles and infrastructural development in emerging economies and increasing sales of off-highway vehicles to boost the demand for automotive hydraulics system are driving factors for the automotive hydraulics system market. Whereas, replacement of hydraulic applications with the full electrical system is a restraining factor for automotive hydraulics system market. The advent of technological advancement in vehicle braking and suspension system and the advanced electro-hydraulic system is creating opportunities for the automotive hydraulics system in upcoming years. On the other hand, factors such as user concerns regarding reduced noise, increasing uptime and reliability of hydraulic system and contamination of hydraulic fluids are creating challenges for automotive hydraulics system market in future years.
Hydraulic brakes segment to remain predominant during the forecast period
Hydraulic brakes market is estimated to hold the largest market share of the global automotive hydraulics system in 2017. The segment is estimated to grow at a significant CAGR and is expected to remain the largest market during the forecast period. The growth of this segment is driven by government regulations regarding advanced braking technologies like anti-lock braking system (ABS) in emerging economies like India and China.
Asia Pacific to lead the automotive hydraulics system during the forecast period
The Asia Pacific region is estimated to hold the largest share of global automotive hydraulics system in the year 2017. The segment is estimated to grow with the highest CAGR in the forecast period. The expansion of infrastructure development industry and increase in vehicle sales are expected to fuel automotive hydraulics system market in Asia Pacific region.
The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
- By Company Type: Tier 1: 50%, Tier 2: 28%, Tier 3: 22%
- By Designation: C level: 35%, Directors: 25%, Others: 40%
- By Region: North America: 19%, Europe: 29%, Asia Pacific: 43%, RoW: 9%
Major players profiled in the report are:
• Aisin Seiki (Japan)
• Bosch (Germany)
• ZF (Germany)
• BorgWarner (US)
• JTEKT (Japan)
• Continental (Germany)
• Schaeffler (Germany)
• Wabco Holdings (US)
• GKN (UK)
• FTE Automotive (Germany)
The report segments the automotive hydraulics system market and forecasts its size, by volume and value, on the basis of region (Asia Pacific, Europe, North America, and RoW), Type (Flatbed, Lowboy, Dry Van, Refrigerated, Tankers & Others), Tonnage (Below 25t, 25t–50t, 51t–100t, above 100t), Number of axles (<3 Axles, 3-4 Axles & >4 Axles).
The report contains various levels of analysis, including industry analysis, industry trends, and company profiles, which together comprise and discuss the basic views on the emerging and high growth segments of the automotive hydraulics system market, high-growth regions and countries, government initiatives, and market dynamics such as drivers, restraints, opportunities, and challenges.
Reasons To Buy the Report:
The report enables new entrants and smaller firms as well as established firms to understand the market better to help them to acquire a larger market share. Firms purchasing the report could use any one or a combination of the below-mentioned four strategies (market development, product development/innovation, market diversification, and competitive assessment) to strengthen their position in the market.
The report provides insights into the following points:
- Market Penetration: The report offers comprehensive information about the automotive hydraulics system market and the top 10 players in the market.
- Product Development/Innovation: The report provides detailed insights into upcoming technologies, R&D activities, and new product launches in the automotive hydraulics system market.
- Market Development: The report offers comprehensive information about automotive hydraulics system market. The report analyzes the automotive hydraulics system market across regions and provides comprehensive information about lucrative emerging markets.
- Market Diversification: The report provides exhaustive information about new products, untapped regional markets, recent developments, and investments in the automotive hydraulics system market.