Yahoo Finance Automotive Hydraulics System Global Market Report 2022: Ukraine-Russia War Impact
Major players in the automotive hydraulics system market are JTEKT Corporation, ZF Friedrichshafen AG, Toyota Motor Corporation, Aisin Corporation, Schaeffler Technologies AG & Co. KG, BorgWarner Inc, Robert Bosch GmbH, GKN Ltd, Fte Automotive Group, Continental AG, Warner Electric LLC, Altra Industrial Motion Corp, Dantal Hydraulics Pvt Ltd, RR Parkon LLC, and Brakes India Limited.
New York, Dec. 05, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Automotive Hydraulics System Global Market Report 2022: Ukraine-Russia War Impact" - https://www.reportlinker.com/p06370327/?utm_source=GNW
The global automotive hydraulics system market is expected to grow from $ 34.14 billion in 2021 to $ 36.97 billion in 2022 at a compound annual growth rate (CAGR) of 8.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The automotive hydraulics system market is expected to reach $ 49.74 billion in 2026 at a CAGR of 7.7%.
The automotive hydraulics system market consists of sales of automotive hydraulics systems by entities (organizations, sole traders, and partnerships) that use hydraulic fluid to drive mechanical systems.Automotive hydraulic systems refer to power transmission systems that transmit energy or signals through the static or dynamic forces of liquids.
This system is considered more accurate than traditional mechanical drive systems because the mechanical system can lose efficiency over time due to friction.These systems use fluids to transfer energy between two points due to the pressure difference.
They can store and release energy more efficiently than batteries.
The main types of components in the automotive hydraulics system are the master cylinder, slave cylinder, reservoir, and hose.The different vehicle types include passenger cars, light commercial vehicles, and heavy commercial vehicles.
Passenger cars use automotive hydraulic systems for a dynamic adjustment in the height of the car.Passenger cars utilize hydraulic braking systems as the most common application of hydraulics.
These systems use brake fluid to apply pressure to a braking pad, which then presses against the axel and prevents the car from moving.The various applications include brakes, clutches, suspension, and tappets.
The end users are original equipment manufacturers (OEMs) and after-market.
Asia Pacific was the largest region in the automotive hydraulics system market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the automotive hydraulics system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Increasing vehicle production is expected to propel the growth of the automotive hydraulics system market going forward.A vehicle is referred to as a means of transportation that is used to transport people and goods.
Hydraulic systems can store and discharge energy in vehicles that work more efficiently than electric batteries in vehicles.These systems assist the drivers in reducing the steering effort of vehicles.
For instance, according to the India Brand Equity Foundation (IBEF), an India-based export promotion agency, in 2022, 22.93 million vehicles will be produced in India. Therefore, increasing vehicle production is driving the growth of the automotive hydraulics system market.
Product innovations are the key trends gaining popularity in the automotive hydraulics system market.Major companies operating in this automotive hydraulics systems sector are focused on developing new product innovations for market growth.
For instance, in November 2021, Continental, a Germany-based automotive parts manufacturing company, launched MK C2, electro-hydraulic brake systems.The new system is lightweight with a reduced number of components, simple, powerful, and highly cost-optimized and can be integrated into multi-vehicle platforms.
It can generate brake pressure whenever the driver assistance system requires pressure within 150 milliseconds.
In May 2020, ZF Friedrichshafen AG, a Germany-based car parts manufacturer, acquired WABCO for an undisclosed amount.Through this acquisition, ZF aimed to advance its commercial vehicle technology portfolio.
WABCO is a France-based manufacturer of electronic braking, stability, suspension, and transmission automation systems.
The countries covered in the automotive hydraulics system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The automotive hydraulics system market research report is one of a series of new reports that provides automotive hydraulics system market statistics, including automotive hydraulics system industry global market size, regional shares, competitors with an automotive hydraulics system market share, detailed automotive hydraulics system market segments, market trends and opportunities, and any further data you may need to thrive in the automotive hydraulics system industry. This automotive hydraulics system market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06370327/?utm_source=GNW
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
CONTACT: Clare: clare@reportlinker.com US: (339)-368-6001 Intl: +1 339-368-6001
