Market Size of Automotive Hydraulic Systems Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 37.27 Billion |
| Market Size (2029) | USD 49.29 Billion |
| CAGR (2024 - 2029) | 5.75 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Automotive Hydraulic Systems Market Analysis
The Automotive Hydraulic Systems Market size is estimated at USD 37.27 billion in 2024, and is expected to reach USD 49.29 billion by 2029, growing at a CAGR of 5.75% during the forecast period (2024-2029).
The automotive hydraulic systems market has been growing at a steady pace in recent years. The continuous rise in global automotive production, particularly in emerging markets such as China and India, is a primary driver for the automotive hydraulic systems market. The increasing demand for passenger and commercial vehicles propels the adoption of hydraulic systems for various applications, including braking and power steering. For instance:
- In China, the total commercial vehicle sales in 2022 totaled 3,300,458 units, while India and Japan registered 933,116 and 753,023, respectively.
The low cost at which hydraulic systems can be fit into vehicles is a major advantage and has proven to be one of the most important factors driving the market studied. 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. The most common use of hydraulic systems in an automobile is power steering, shock absorbers, and brakes.
The integration of advanced technologies, such as electro-hydraulic systems and smart hydraulic components, is enhancing the overall performance and efficiency of automotive hydraulic systems. This trend is gaining momentum as automakers prioritize technological innovation to stay competitive.
However, the increasing adoption of electric vehicles poses a challenge to traditional hydraulic systems. As the automotive industry shifts toward electrification, the demand for hydraulic systems in certain applications, like power steering, may decline.
Despite the challenges, the automotive industry's hydraulic systems market is expected to continue its growth trajectory, albeit at a slower pace.
Automotive Hydraulic Systems Industry Segmentation
Automotive hydraulic systems are used to power machines and equipment. Hydraulic systems use a specialized fluid, typically hydraulic oil, to transmit power.
The automotive hydraulic systems market is segmented by application, component, vehicle type, and geography. By application, the market is segmented into brakes, clutch, suspension, and other applications (tappets, etc.). By component, the market is segmented into master cylinder, slave cylinder, reservoir, and hose. By vehicle type, the market is segmented into passenger cars, light commercial vehicles, and medium and heavy-duty commercial vehicles. By geography, the market is segmented into North America, Europe, Asia-Pacific, and rest of the world. The report offers the market size in value terms in USD for all the abovementioned segments.
| Application | |
| Brakes | |
| Clutch | |
| Suspension | |
| Other Applications (Tappets, etc.) |
| Component | |
| Master Cylinder | |
| Slave Cylinder | |
| Reservoir | |
| Hose |
| Vehicle Type | |
| Passenger Cars | |
| Light Commercial Vehicles | |
| Medium and Heavy-Duty Commercial Vehicles |
| Geography | |||||||
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Automotive Hydraulic Systems Market Size Summary
The automotive hydraulic systems market is experiencing steady growth, driven by the increasing global production of vehicles, particularly in emerging markets like China and India. The demand for hydraulic systems is propelled by the rising need for passenger and commercial vehicles, where these systems are integral for applications such as braking and power steering. The cost-effectiveness of hydraulic systems, along with their efficiency in energy storage and discharge compared to electric batteries, makes them a preferred choice for vehicles requiring substantial power. Despite the challenges posed by the shift towards electric vehicles, the market for automotive hydraulic systems is expected to maintain its growth trajectory, supported by the expanding commercial vehicle sector and the ongoing integration of advanced technologies like electro-hydraulic systems.
The Asia-Pacific region is anticipated to witness the highest growth in the automotive hydraulic systems market, fueled by the robust automotive industries in China and India. The region's economic growth and increasing disposable incomes are driving vehicle demand, while low production costs in China enhance vehicle manufacturing, further boosting hydraulic system demand. The commercial vehicle segment, particularly heavy-duty trucks and buses, relies heavily on hydraulic systems for their robust and versatile applications. As the market becomes more technologically advanced, companies are investing in research and development to innovate and improve hydraulic system performance. Major players in the market are also focusing on training and upskilling to stay competitive, ensuring the continued expansion of the automotive hydraulic systems market.
Automotive Hydraulic Systems Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.1.1 Increasing Demand and Sales of Commercial Vehicles is Driving the Market for Hydraulic Systems
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1.2 Market Restraints
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1.2.1 Increasing Replacement of Conventional Hydraulic Systems with Fully-electric Hydraulic Systems Acts as a Restraint
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1.3 Industry Attractiveness - Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Application
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2.1.1 Brakes
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2.1.2 Clutch
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2.1.3 Suspension
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2.1.4 Other Applications (Tappets, etc.)
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2.2 Component
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2.2.1 Master Cylinder
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2.2.2 Slave Cylinder
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2.2.3 Reservoir
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2.2.4 Hose
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2.3 Vehicle Type
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2.3.1 Passenger Cars
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2.3.2 Light Commercial Vehicles
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2.3.3 Medium and Heavy-Duty Commercial Vehicles
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2.4 Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.1.3 Rest of North America
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2.4.2 Europe
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2.4.2.1 Germany
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2.4.2.2 United Kingdom
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2.4.2.3 France
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2.4.2.4 Spain
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2.4.2.5 Rest of Europe
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2.4.3 Asia-Pacific
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2.4.3.1 India
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2.4.3.2 China
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2.4.3.3 Japan
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2.4.3.4 South Korea
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2.4.3.5 Rest of Asia-Pacific
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2.4.4 Rest of the World
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2.4.4.1 South America
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2.4.4.2 Middle East and Africa
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Automotive Hydraulic Systems Market Size FAQs
How big is the Automotive Hydraulic Systems Market?
The Automotive Hydraulic Systems Market size is expected to reach USD 37.27 billion in 2024 and grow at a CAGR of 5.75% to reach USD 49.29 billion by 2029.
What is the current Automotive Hydraulic Systems Market size?
In 2024, the Automotive Hydraulic Systems Market size is expected to reach USD 37.27 billion.
