Automotive Hydraulics System Market

Automotive Hydraulics System Market Outlook 2030 -

The automotive hydraulic system involves a transmission system that uses pressurized hydraulic fluid to drive a mechanical system. Thus, the hydraulic system functions on the transfer of energy due to the pressure difference between two points. This is radically different compared to the traditional mechanical system, which relies on the system functioning due to the flow of kinetic energy. The hydraulic system is considered more accurate compared to the traditional mechanical drive systems, since the mechanical system can undergo a reduction in efficiency with time because of friction. With the increase in activities of logistics, expansion of the industrial sector, and the tourism sector, the demand for commercial vehicles is expected to increase, which, in turn, is likely to increase the demand for hydraulic systems. Hydraulic systems can store and release energy more efficiently than batteries. Vehicles that need a lot of power are finding hydraulic hybrid drives to be more efficient than electric drives. The most common use of the hydraulic systems in an automobile is power steering, shock absorbers, and brakes.

COVID-19 Impact analysis

COVID-19 has severely impacted the global economy and all the industries throughout the globe. This is mainly due to the disruptions in the supply chain across the globe. The economies across the world have declined as there is a major decline in the demand for products. The production across industries has been limited due to the pandemic resulting in the shortage of raw material. The decline in exports and the disruptions in the supply chain are the major factors contributing to the decline in production. The hydraulics market is thus getting affected by COVID-19. Majority of automotive hydraulic system manufacturers are facing major issues such as closure of factories and unavailability of workforce due to the lockdowns which further affects the production of vehicle as well.

Top Impacting Factors

• Growing focus on smart hydraulic equipment, increasing number of constructions, and rise in e-commerce activities are driving the growth of the market.
• High manufacturing & maintenance costs, and availability of alternative products is expected to hamper the growth of the market.
• Rising demand for commercial vehicle, and economic development can be seen as an opportunity for the market investments.

The automotive hydraulics system market trends are as follows:

Growing focus on smart hydraulic equipment

Increasing attention to smart hydraulic equipment several companies in the hydraulic ecosystem continue to invest in research and development activities to develop upgraded hydraulic equipment and provide customers with better solutions. For instance, ZF Group launched integrated brake control (IBC), which is a non-vacuum, integrated electro-hydraulic brake apply control unit that can replace the electronic stability control, vacuum booster, and vacuum pump, as associated cables, sensors, switches, and controllers. It offers regenerative braking in a single, integrated unit and covers fuel-efficient power trains, without the need for supplement vacuum pumps. The development of intelligent hydraulic equipment unit is one of the major innovations, this will drive the growth of the market.

High manufacturing and maintenance costs

The manufacturing of hydraulic equipment requires metal forging and precise engineering to create a high-quality hydraulic system. There are cost barriers for small and medium enterprises (SMEs) to enter the hydraulics market. Besides the initial manufacturing cost of hydraulic equipment, they also incur maintenance costs over a period. There are several factors apart from oil leakage in hydraulic cylinders that need to be maintained. The quality and finish of the cylinder rod need to be examined regularly. If the rod is bent, it can cause a load shift. Thus high manufacturing and maintenance costs will hamper the growth of the automotive hydraulic system market.

Availability of alternative products

The hydraulic system is operated by fluid, mainly oil. The leakage of these fluids can cause pollution to the surrounding environment. Therefore, end users who need to maintain a clean and healthy environment will look for cleaner alternatives. One such option is the use of the pneumatic system, which uses the pressure of compressed gas to produce a force in a reciprocating linear motion. Thus availability of alternative products will hamper the growth of the market.

Key benefits of the report:

• This study presents the analytical depiction of the automotive hydraulic system market along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with challenges of the automotive hydraulic system market.
• The current market is quantitatively analyzed to highlight the automotive hydraulic system market growth scenario.
• The report provides a detailed automotive hydraulic system market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the automotive hydraulic system market research report:

• Which are the leading market players active in the automotive hydraulic system market?
• What would be the detailed impact of COVID-19 on the market?
• What current trends would influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the automotive hydraulic system market?
• What are the projections for the future that would help in taking further strategic steps?

 Automotive Hydraulics System Market Report Highlights