>
>
Automotive Electro-Hydraulic System Market Size - By Vehicle, By Sales Channel, By Application, By Component, Analysis, Share, Growth Forecast, 2024 - 2032
Download Free PDF

Automotive Electro-Hydraulic System Market
Get a free sample of this reportGet a free sample of this report Automotive Electro-Hydraulic System Market
Is your requirement urgent? Please give us your business email for a speedy delivery!
Buy Now
$4,123 $4,850
15% off
$4,840 $6,050
20% off
$5,845 $8,350
30% off
Buy now
Premium Report Details
Base Year: 2023
Companies covered: 20
Tables & Figures: 180
Countries covered: 21
Pages: 150
Download Free PDF
Automotive Electro-Hydraulic System Market Size
The global automotive electro-hydraulic system market size was valued at USD 9.5 billion in 2023 and is projected to grow at a CAGR of 7.9% between 2024 and 2032. The market is being propelled by the escalating integration of self-driving and semi-self-driving cars. These systems provide speed and accuracy crucial to more complex driver-assistance features like automatic emergency brakes or using advanced lane-keeping assists. With the expansion of autonomy levels, the importance of real-time suitable electronically controlled hydraulic systems is becoming more dire.
For instance, in August 2024, an autonomous vehicle app creator, along with Beep Inc., pursued a California region, marking its third commercial deal in the US. Oxa Driver software will be integrated into Beep’s autonomous shuttles, which will be pilot tested under the management of the Contra Costa Transportation Authority.
The focus of this project is on shared mobility with the aim of augmenting available public transport in the region through new autonomous driving technologies. This is true for geographies where testing and deployment of autonomous vehicles is shifting into high gear, generating a need for robust systems that accurately modulate driving conditions with precision.
As a result of electro-hydraulic systems being utilized more and more in automobiles, the Automotive Electro-Hydraulic System Market is expanding. The worldwide safety regulations which are set in place as well as the efficacy of both the galvanic-type hydraulic systems and the mechanical one’s aid to drive the market forward. Adopting advanced safety mechanisms calls for the employment of technology which is beneficial for steering and braking.
Additionally, the demand for these systems is growing in electric and hybrid cars because old-fashioned hydraulic systems are not very effective. The needs for maintaining fuel efficiency alongside an increase in a vehicle's safety and stability are pushing the vehicle control under various driving conditions to grow the adoption of electro-hydraulic systems and so contribute to market expansion.
Automotive Electro-Hydraulic System Market Trends
The rising electrification of heavy-duty vehicles including trucks and buses is driving the growth of the market. The IEA reported that the sales of electric trucks in 2023 increased by 35% compared to 2022, showing strong market demand and adoption in the use of electric-powered commercial vehicles.
To aid in combating carbon emissions, manufacturers are currently working on replacing standard hydraulic systems with electro-hydraulic systems. Such energy-efficient systems are much more practical for electric-powered vehicles. Precisely controlled heavy loads using electric motors yield good efficiency, so it is suitable for electric-powered heavy-duty vehicles. This change is also caused by the government setting regulations for low-carbon transport in North America and Europe where there are more stringent emissions regulations.
A notable limitation of the automotive electro-hydraulic system market is the initial investment and ongoing maintenance expense. Compared to conventional hydraulic or mechanical systems, these systems are quite resource-intensive in terms of initial setup and service expenses.
This cost problem is particularly difficult for manufacturers focusing on mid-range and economy vehicles which usually aim for the most cost-effective methods. Moreover, these systems are complicated to implement due to the need for greater skill and equipment, which increases the operational cost even further. As a result, this might slow down the entire market growth as most small and medium-sized manufacturers tend to avoid investing in this advanced technology.
Automotive Electro-Hydraulic System Market Analysis
Based on sales channel, the market is segmented into OEMs and aftermarket. In 2023, the OEM segment accounted for over USD 6.7 billion and is expected to grow significantly over the forecast time frame.
Based on the vehicle, the automotive electro-hydraulic system market is divided into passenger cars and commercial vehicles. The passenger cars held 62% of the market share in 2023.
In 2023, the China automotive electro-hydraulic system market accounted for over 35% revenue share in Asia Pacific.
Automotive Electro-Hydraulic System Market Share
Bosch, ZF, Continental, JTEKT, Schaeffler, Brembo, and Denso collectively held a significant market share of 64% in the automotive electro-hydraulic system industry in 2023.
Automotive Electro-Hydraulic System Market Companies
Major players operating in the automotive electro-hydraulic system industry are:
The electro-hydraulic system in vehicles market is competitive, where relatively new players would battle along with established automotive players for automotive electro-hydraulic system market shares. Their vast resources allow them to gain an edge over others since it enables them to create comprehensive solutions that improve performance, safety, and vehicle efficiency. Such companies deploy advanced development and research strategies, have global supply chains, and possess cross-industry knowledge to build effective electro-hydraulic systems that modern vehicles require.
In this type of environment, many firms are designing strategies centered around the person using the product to give them a unique selling point. Many firms are trying to change their products to find the highest specific need for the customer, as well as providing many models for deployment like modular components and integrated systems. Advanced customer support services are being put at the forefront with the hope that the user would avail themselves of the training programs for increased utilization of the electro-hydraulic systems. There would be extensive spending on establishing the firms as reliable partners in innovation and technology in the vehicle industry.
Automotive Electro-Hydraulic System Industry News
The automotive electro-hydraulic system market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue ($ Mn/Bn) and shipment (Units) from 2021 to 2032, for the following segments:
Click here to Buy Section of this Report
Market, By Vehicle
Market, By Sales Channel
Market, By Component
Market, By Application
The above information is provided for the following regions and countries: