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The vehicle 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 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. 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.
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The manufacturing of vehicle hydraulic systems 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 vehicle hydraulic system market.
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.
Based on Component, the market is segmented into Hydraulic Master Cylinder, Hydraulic Slave Cylinder, Hydraulic Reservoir, and Hydraulic Hose. Based on Application, the market is segmented into Hydraulic Brakes, Hydraulic Clutch, Hydraulic Suspension, And Hydraulic Tappets. Based on Type Of On-Highway Vehicles, the market is segmented into Passenger Cars, Light Commercial Vehicles, and Heavy Commercial Vehicles. Based on Type Of Off-Highway Vehicles, the market is segmented into Agricultural Equipment and Construction Equipment. On the basis of Geography, the Global Vehicle Hydraulics System Market is classified into North America, Europe, Asia Pacific, and the Rest of the world.
Asia-Pacific is undergoing substantial gains in the vehicle hydraulics system market. The Asia-Pacific region dominates the automotive hydraulics system market and will continue to during the forecast period owing to the prevalence of government mandates regarding the active and passive safety of vehicles. Increasing vehicle production owing to the rising demand and personal disposable income are some other factors fostering the market growth rate. North America will project a high growth rate during the forecast period owing to the increasing investment in construction activities.
The country section of the vehicle hydraulics system market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
The major players covered in the vehicle hydraulics system market report are ZF Friedrichshafen AG, BorgWarner Inc., Continental AG, Bosch Limited, JTEKT Corporation., Schaeffler, WABCO, Melrose Industries PLC, FTE automotive GmbH, AISIN CORPORATION, Hydra-Slide, HollySys Asia Pacific Pte Ltd, Eaton., Systems Group., Cool Cars Engineering, RR parkon, DANTAL HYDRAULICS, Lalit Hydraulics Systems (LHS)., Patson Hydrotech. and NSK Ltd. among other domestic and global players.
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Table of Contents: 1. Vehicle Hydraulics System Market Overview 2. Impact on Vehicle Hydraulics System Market Industry 3. Vehicle Hydraulics System Market Competition 4. Vehicle Hydraulics System Market Production, Revenue by Region 5. Vehicle Hydraulics System Market Supply, Consumption, Export and Import by Region 6. Vehicle Hydraulics System Market Production, Revenue, Price Trend by Type 7. Vehicle Hydraulics System Market Analysis by Application 8. Vehicle Hydraulics System Market Manufacturing Cost Analysis 9. Internal Chain, Sourcing Strategy and Downstream Buyers 10. Marketing Strategy Analysis, Distributors/Traders 11. Market Effect Factors Analysis 12. Vehicle Hydraulics System Market Forecast (2022-2028) 13. Appendix
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