Accumulators in Automobile Industry is fastest growing segment fueling the growth of Automobile Liquid Accumulator Market

 

The global Automobile Liquid Accumulator Market is estimated to be valued at US$ 1,806.2 Mn or Million 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 Overview:

Automobile Liquid Accumulator helps in storing the hydraulic fluid and provides cushioning effect to automotive components like brakes and suspension systems. It helps in minimizing impact and maintains optimal pressure inside hydraulic systems, improving comfort and safety of vehicles.

Market key trends:

One of the key trend in the Global Automobile Liquid Accumulator Market is the growing adoption of advanced suspension and braking systems in passenger and commercial vehicles. Accumulators play an important role in braking and suspension systems by dampening shocks. The demand for electronically controlled braking and suspension systems is rising to improve vehicle handling, stability and safety. Accumulators help optimize fluid pressure and flow in such advanced hydraulic systems. This is expected to drive the growth of Accumulator market during the forecast period.

Segment Analysis

The global automobile liquid accumulator market is dominated by the spring accumulator segment. Spring accumulators hold more than 60% of the market share owing to their simple design, low maintenance, and cost effectiveness. Spring accumulators are preferred for medium-range pressure applications.

Key Takeaways

The global automobile liquid accumulator market size was valued at US$ 1,806.2 Mn in 2023. It is expected to witness high growth, exhibiting a CAGR of 5.8% over the forecast period from 2023 to 2030, due to increasing demand for emission reduction and advanced driver assistance systems.

Regional analysis

Europe dominated the global market with more than 30% share in 2023 owing to stringent emission standards in the region. Asia Pacific is expected to be the fastest growing region, exhibiting a CAGR of around 7% during the forecast period on account of rising vehicle production and sales in China and India.

Key players analysis

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 focusing on new product development and expansion strategies to gain competitive advantage in the market.

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