The transition from the traditional mechanical system to better to more advanced hydraulics system is expected to bolster the market for Hydraulics system. Moreover, the intensifying competition between automobile manufacturers is expected to spur the expansion of the Hydraulics system market in the coming years.

Segmental Analysis

The segmental analysis of the Hydraulics system market is conducted on the basis of application, component, end market, vehicle type, and region. On the basis of application, the market for Hydraulics system comprises of clutch, brake, tappet, and suspension. Based on component, the Hydraulics system market consists of hose, reservoir, master cylinder, and slave cylinder. On the basis of end market, the market for Hydraulics system is divided into aftermarket and OEM. Based on the vehicle type, the Hydraulics system market is segmented into LCV, Passenger and HCV. The regions included in the Hydraulics system market are North America, Asia Pacific, Europe, and Rest of the World.

Regional Analysis

The Hydraulics system market globally is segmented into Asia Pacific, Europe, North America, and Rest of the World. The North American region’s market is accredited for one of the main automotive markets in the world. As the public transport system is not highly efficient, individuals are compelled to buy and use personal automobiles for their daily commutes in this region. Due to the increased requirement of automobiles and reduced cost of production of vehicles on a mass production scale, automotive hydraulic systems will see constant growth in this market. The Asia Pacific region is likely to observe substantial growth in the demand for this system owing to the expansions in infrastructure, recovering road conditions, and supporting government regulations. The European region which is well known to produce some of the most high-end cars is expected to see increased demand in the forecast period. Hence, the hydraulic system, with its notable applications is expected to see favorable growth over the course of the forecast period.

Competitive Analysis

The significant competitors in the Hydraulics system market globally are ZF Friedrichshafen AG (Germany), JTEKT Corporation (Japan), WABCO Holdings, Inc. (U.S.), Schaeffler Technologies AG & Co. KG (Germany)