An automobile liquid accumulator is a passive safety device used in modern hydraulic brake and suspension systems. It regulates fluid pressure and prevents fluid from overheating due to repetitive compression. Accumulators maintain hydraulic fluid under pressure to ensure quick, consistent braking response and smooth suspension action. They provide a reserve of pressurized brake fluid to compensate for pressure drops when the brakes are applied repeatedly or firmly during panic stops. The global Automobile Liquid Accumulator market is estimated to be valued at US$ 1,806.2 Mn in 2023 and is expected to exhibit a CAGR of 5.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
The opportunity of increasing vehicle production across the world presents a lucrative growth opportunity for the Automobile Liquid Accumulator market. According to various estimates, the global automobile production is expected to grow by over 25% from around 90 million units in 2023 to over 115 million units by 2030. The increasing vehicle demand from emerging economies such as India, China, Brazil, Thailand etc. is a major factor driving this growth. As accumulators are used in nearly all modern vehicles for braking and suspension applications, their demand will directly correlate with the increasing vehicle manufacturing volumes globally. Automobile manufacturers are expected to increasingly adopt more advanced accumulators with improved energy efficiency and friction reduction capabilities to meet stringent fuel efficiency norms. This growing emphasis on fuel economy and performance is likely to propel the demand for advanced liquid accumulators during the forecast period.
Porter's Analysis
Threat of new entrants: The automotive liquid accumulator market requires significant R&D investment and capital expenditure to establish manufacturing facilities. This poses high entry barriers for new companies.
Bargaining power of buyers: Automotive liquid accumulator manufacturers have significant bargaining power over buyers as there are numerous established players offering similar products.
Bargaining power of suppliers: The availability of raw material suppliers at global level provides less bargaining power to suppliers in this market.
Threat of new substitutes: There exists no cost-effective substitute for automotive liquid accumulators currently.
Competitive rivalry: The global market is moderately concentrated with major players differentiating through product quality and innovation.
SWOT Analysis
Strength: Established brands having global presence and economies of scale. Strong R&D capabilities allowing product innovations.
Weakness: Heavy reliance on automotive industry sales cycles and economic conditions. Fluctuations in raw material prices affect profits.
Opportunity: Growing demand for fuel-efficient and electric vehicles increases use of accumulators. Expanding aftermarket services provide new revenue streams.
Threats: Trade wars and geopolitical tensions impact supply chains and manufacturing costs. Stiff competition from local players in emerging markets.
Key Takeaways
The Global Automobile Liquid Accumulator market Size is expected to witness high growth over the forecast period of 2023 to 2030. Regionally, Asia Pacific dominates currently due to high vehicle production in China, Japan, and India. Rising disposable incomes are driving automobile sales across developing nations in the region.
Regional analysis indicates fastest growth is expected in Asia Pacific and Central & South America. Countries like China, India, Brazil, and Mexico will be major contributors to increasing accumulator demand.
Key players operating in the automobile liquid accumulator market are Bosch Rexroth AG, Parker Hannifin Corporation, HYDAC International GmbH, Eaton Corporation, WABCO Holdings Inc., NOK Corporation, Freudenberg Sealing Technologies, Continental AG, Denso Corporation, Magneti Marelli S.p.A. (now part of Calsonic Kansei Corporation), ZF Friedrichshafen AG, Schrader International Inc. (part of Sensata Technologies), Rheinmetall Automotive AG, Aisin Seiki Co., Ltd., HELLA GmbH & Co. KGaA. The players are involved in new product launches and expanding manufacturing capacities to reinforce their presence.
Get More Insights Here
English
Arabic
French
Spanish
Portuguese
Deutsch
Turkish
Dutch
Italiano
Russian
Romaian
Portuguese (Brazil)
Greek