PUNE, India, February 23, 2018 /PRNewswire/ --
The report "Automotive Hydraulics System Market by Application (Brake, Clutch, Suspension & Tappet), OE Component (Master Cylinder, Slave Cylinder, Reservoir & Hose), Aftermarket Component, On-Highway Vehicle, Off-Highway Vehicle, and Region - Global Forecast to 2025", published by MarketsandMarkets™, the market is projected to grow at a CAGR of 6.04% during the forecast period, to reach USD 51.37 Billion by 2025 from an estimated USD 32.13 Billion in 2017.
Browse 81 tables and 45 figures spread through 130 pages and in-depth TOC on "Automotive Hydraulics System Market- Global Forecast to 2025"
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The combination of higher disposable income and increasing awareness of active as well as the passive safety of a vehicle among vehicle users, increase in vehicle sales and infrastructural development in developing economies are driving the market for Automotive Hydraulics System Market. A key driver for the increase in vehicle sales in recent years is the changing taste of vehicle types and lifestyle of the young population. Infrastructural development in developing economies is forcing construction companies to use construction vehicles equipped with advanced prime mover technologies. Whereas, modern agricultural vehicles are used extensively by farmers in countries like China, India, Japan, South Africa. All these factors are driving the market for Automotive Hydraulics System Market.
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Asia Pacific: Largest market for Automotive Hydraulics System
The Asia Pacific is projected to be the largest market for Automotive Hydraulics System Market from 2017 to 2025. The market growth in the region can be attributed to numerous factors such as improving road infrastructure, infrastructural development, and government regulations regarding vehicle's active and passive safety.
Hydraulic brake is estimated to hold the largest market share during the forecast period
The market size for hydraulic brake in Automotive Hydraulics System Market is estimated to be the highest in 2017 and is projected to remain predominant during the forecast period. The market share of hydraulic brakes automotive hydraulics systems is estimated to be the highest followed by hydraulic tappets, hydraulic suspension, and hydraulic clutch. Developing countries such as China and India have witnessed significant sales in a modern vehicle and economic growth, which in turn, is increasing the demand for hydraulic brake in automotive hydraulics systems.
Slave cylinder segment for Automotive Hydraulics System Market is estimated to be the largest segment by component from 2017 to 2025
The market size for automotive hydraulics systems with Slave cylinder is expected to be the largest, as slave cylinder finds great application in automotive hydraulics systems such as brake and clutch. The market size of this segment is estimated to remain predominant during the forecast period. One of the major factor driving the growth of the slave cylinder segment is increasing production of passenger and commercial vehicles.
The Automotive Hydraulics System Market is dominated by a few globally established players, such as Aisin Seiki (Japan), Robert Bosch (Germany), ZF (Germany), BorgWarner (US), JTEKT (Japan).
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