Commercial Vehicle Hydraulics System Market by Component, Technology, Application, Vehicle Type, Sales Channel

Description

List of Tables

[196 Pages Report] The Commercial Vehicle Hydraulics System Market size was estimated at USD 12.38 billion in 2023 and expected to reach USD 13.28 billion in 2024, at a CAGR 7.54% to reach USD 20.60 billion by 2030.

A commercial vehicle hydraulics system is the collection of components and mechanisms in commercial vehicles that use fluid power to perform various functions. This system primarily uses liquids in a pressurized environment to generate, control, and transmit power. The commercial vehicle hydraulics system is essential for enhancing the functionality and performance of vehicles. The commercial vehicle hydraulics market is experiencing significant growth, fueled by the rising demand for fuel-efficient vehicles. As businesses increasingly focus on reducing fuel consumption and emissions. In addition, the expansion of logistics and e-commerce sectors has increased the need for robust commercial transportation solutions. This growth requires vehicles equipped with advanced hydraulic systems to efficiently manage the increased volume and complexity of goods movement. However, the installation and upkeep of hydraulic systems in commercial vehicles pose significant challenges due to their complexity and cost. These systems, critical for the operation of heavy machinery, require specialized skills and tools for installation, which increases initial costs. The continuous evolution of hydraulic systems in commercial vehicles offers substantial opportunities for market expansion. Innovations such as the electrification of hydraulic components and integration with digital technologies for real-time system monitoring are leading to increased vehicle performance.

KEY MARKET STATISTICS
Base Year [2023]	USD 12.38 billion
Estimated Year [2024]	USD 13.28 billion
Forecast Year [2030]	USD 20.60 billion
CAGR (%)	7.54%

Regional Insights

In the Americas, particularly in the United States and Canada, the growth of the commercial vehicle hydraulics system market is driven by the logistics and transportation industries. As these economies expand, the demand for commercial vehicles increases, propelling the demand for hydraulic systems that enhance vehicle performance and safety. In addition, there is a significant focus on integrating advanced technologies to improve the efficiency of hydraulic systems in commercial vehicles. The Asia-Pacific region is showcasing growth in the commercial vehicle hydraulics system market due to robust industrialization and expanding logistics sectors in countries such as China, India, and Japan. The increasing demand for commercial vehicles in these populous nations sustains the need for advanced hydraulics systems. In addition, governments in the region are imposing strict regulations regarding vehicle emissions and safety, prompting manufacturers to adopt sophisticated hydraulics systems. The market expansion in the EMEA region, particularly in Europe, is driven by advanced manufacturing capabilities and stringent environmental and safety regulations. The presence of commercial vehicle manufacturers and technology companies supports the development and adoption of innovative hydraulic systems. The Middle East and Africa showcase potential for growth owing to increasing infrastructure development and industrial activities, particularly in GCC countries and South Africa.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Commercial Vehicle Hydraulics System Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers
- Increasing demand for fuel-efficient commercial vehicles
- Expanding usage of commercial vehicles in logistics and eCommerce sectors
- Growing reliance of construction and mining industry on heavy machinery

Market Restraints
- Complexity and cost associated with their installation and maintenance

Market Opportunities
- Ongoing innovations and technological advancements in hydraulic system
- Investment in R&D for lightweight and compact hydraulics

Market Challenges
- Availability of counterfeit products

Market Segmentation Analysis
- Component: Growing demand for hoses & connectors owing to their crucial role in fluid transmission systems
- Application: Increasing use of braking systems to ensure effective and reliable stopping power for heavy vehicles

Market Disruption Analysis
Porter's Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Commercial Vehicle Hydraulics System Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Commercial Vehicle Hydraulics System Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

TE Connectivity launched the Raychem ELBA Asymmetric Compact Elbow Connectors To Elevating Medium Voltage Network Performance in Commercial Vehicles

TE Connectivity launched the Raychem ELBA Asymmetric Compact Elbow Connectors designed to enhance the reliability and performance of medium voltage networks, focusing on current commercial vehicle operations and future electrification needs. The connectors promise improved installation flexibility and safety due to their compact, asymmetrical design, simplifying the setup in restricted spaces. [Published On: 2024-01-25]

Emerson Launched Fisher 63EGLP-16 To Enhancing Safety and Reliability in Commercial Vehicle Hydraulic Systems

Emerson launched the Fisher 63EGLP-16, a pilot-operated relief valve designed to increase the reliability and safety of storage tanks. This new valve effectively prevents overpressure scenarios leading to tank failures, significantly improving operational safety standards. Designed to handle liquefied petroleum gases, the Fisher 63EGLP-16 has robust design and precision in maintaining system integrity under varying pressures, thus ensuring higher protection in commercial vehicle hydraulic systems. [Published On: 2024-01-12]

Miller Industries Acquired Southern Hydraulic Cylinder to Enhance Commercial Vehicle Hydraulics

Miller Industries acquired Southern Hydraulic Cylinder, a manufacturer of hydraulic cylinders, to augment Miller Industries' resources in producing robust and efficient hydraulic systems essential for commercial vehicles. Southern Hydraulic Cylinder, with its expertise in custom-made hydraulic cylinders, is expected to enrich Miller Industries' existing capabilities, thereby enhancing product quality and customer satisfaction. [Published On: 2023-05-31]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Commercial Vehicle Hydraulics System Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Commercial Vehicle Hydraulics System Market, highlighting leading vendors and their innovative profiles. These include ABER Hydraulics S.A., Borgwarner Inc., Christian Winkler GmbH & Co. KG, Continental AG, Eaton Corporation PLC., Enerpac Tool Group, Helgesen, Hydro Leduc S.A., Hyva Holding B.V., Manuli Hydraulics, Metro Hydraulic Jack Co., Nexteer Automotive Corporation, NSK Group, Parker Hannifin Corporation, Robert Bosch GmbH, Schaeffler Group, Shimadzu Corporation, Valeo Group, XCMG Group, and ZF Friedrichshafen AG.

Market Segmentation & Coverage

This research report categorizes the Commercial Vehicle Hydraulics System Market to forecast the revenues and analyze trends in each of the following sub-markets:

Component
- Cylinders
- Filters
- Hoses & Connectors
- Motors
- Pumps
- Tanks
- Valves

Technology
- Automatic
- Manual
- Semi-Automatic

Application
- Braking System
- Steering System
- Suspension System
- Transmission System

Vehicle Type
- Heavy Commercial Vehicles
- Light Commercial Vehicles

Sales Channel
- Aftermarket
- Original Equipment Manufacturers

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

Product Code: MRR-CD5A9334D7B7

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing demand for fuel-efficient commercial vehicles
  - 5.1.1.2. Expanding usage of commercial vehicles in logistics and eCommerce sectors
  - 5.1.1.3. Growing reliance of construction and mining industry on heavy machinery
- 5.1.2. Restraints
  - 5.1.2.1. Complexity and cost associated with their installation and maintenance
- 5.1.3. Opportunities
  - 5.1.3.1. Ongoing innovations and technological advancements in hydraulic system
  - 5.1.3.2. Investment in R&D for lightweight and compact hydraulics
- 5.1.4. Challenges
  - 5.1.4.1. Availability of counterfeit products
5.2. Market Segmentation Analysis
- 5.2.1. Component: Growing demand for hoses & connectors owing to their crucial role in fluid transmission systems
- 5.2.2. Application: Increasing use of braking systems to ensure effective and reliable stopping power for heavy vehicles
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Commercial Vehicle Hydraulics System Market, by Component

6.1. Introduction
6.2. Cylinders
6.3. Filters
6.4. Hoses & Connectors
6.5. Motors
6.6. Pumps
6.7. Tanks
6.8. Valves

7. Commercial Vehicle Hydraulics System Market, by Technology

7.1. Introduction
7.2. Automatic
7.3. Manual
7.4. Semi-Automatic

8. Commercial Vehicle Hydraulics System Market, by Application

8.1. Introduction
8.2. Braking System
8.3. Steering System
8.4. Suspension System
8.5. Transmission System

9. Commercial Vehicle Hydraulics System Market, by Vehicle Type

9.1. Introduction
9.2. Heavy Commercial Vehicles
9.3. Light Commercial Vehicles

10. Commercial Vehicle Hydraulics System Market, by Sales Channel

10.1. Introduction
10.2. Aftermarket
10.3. Original Equipment Manufacturers

11. Americas Commercial Vehicle Hydraulics System Market

11.1. Introduction
11.2. Argentina
11.3. Brazil
11.4. Canada
11.5. Mexico
11.6. United States

12. Asia-Pacific Commercial Vehicle Hydraulics System Market

12.1. Introduction
12.2. Australia
12.3. China
12.4. India
12.5. Indonesia
12.6. Japan
12.7. Malaysia
12.8. Philippines
12.9. Singapore
12.10. South Korea
12.11. Taiwan
12.12. Thailand
12.13. Vietnam

13. Europe, Middle East & Africa Commercial Vehicle Hydraulics System Market

13.1. Introduction
13.2. Denmark
13.3. Egypt
13.4. Finland
13.5. France
13.6. Germany
13.7. Israel
13.8. Italy
13.9. Netherlands
13.10. Nigeria
13.11. Norway
13.12. Poland
13.13. Qatar
13.14. Russia
13.15. Saudi Arabia
13.16. South Africa
13.17. Spain
13.18. Sweden
13.19. Switzerland
13.20. Turkey
13.21. United Arab Emirates
13.22. United Kingdom

14. Competitive Landscape

14.1. Market Share Analysis, 2023
14.2. FPNV Positioning Matrix, 2023
14.3. Competitive Scenario Analysis
- 14.3.1. TE Connectivity launched the Raychem ELBA Asymmetric Compact Elbow Connectors To Elevating Medium Voltage Network Performance in Commercial Vehicles
- 14.3.2. Emerson Launched Fisher 63EGLP-16 To Enhancing Safety and Reliability in Commercial Vehicle Hydraulic Systems
- 14.3.3. Miller Industries Acquired Southern Hydraulic Cylinder to Enhance Commercial Vehicle Hydraulics
14.4. Strategy Analysis & Recommendation

15. Competitive Portfolio

15.1. Key Company Profiles
15.2. Key Product Portfolio