The Global Automobile Liquid Accumulator Market Growth Accelerated By Increased Adoption Of Electric Vehicles

 

Automobile Liquid Accumulator Market

The global Automobile Liquid Accumulator Market consists of liquid accumulators installed in automobiles primarily for braking assistance. Liquid accumulators store pressurized hydraulic fluid, which aids in braking operations, clutch functions and active suspension in vehicles. The rising adoption of electric vehicles is accelerating demand for liquid accumulators as electric vehicles require hydraulic accumulators for braking assist. Hydraulic accumulators address power assists required for braking in electric cars to provide emergency braking support. 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 key trends:

 

The growing demand for electric vehicles is one of the key trends driving growth in the automobile liquid accumulator market. Accumulators play a critical role in electric vehicles by storing hydraulic pressure to provide emergency braking assistance. Unlike combustion engine vehicles which use the internal combustion engine to power brake boosting systems, electric vehicles require efficient energy storage systems like hydraulic accumulators for braking. Accumulators address the lack of a conventional brake booster to deliver the required braking force instantly under emergency braking conditions in electric cars. As more automakers focus on launching electric vehicle models to meet stringent emission norms, the adoption of liquid accumulators in electric vehicle architecture is anticipated to increase significantly over the forecast period.

Segment Analysis

 

The global automobile liquid accumulator market is dominated by the hydraulic segment. The hydraulic accumulators hold the largest share as they store hydraulic fluid when hydraulic pressure increases and release it when the pressure decreases. This helps in smoothening the pressure fluctuations and improving the performance of hydraulic systems used in heavy commercial vehicles, construction machinery, and other automotive applications.

 

Key Takeaways

 

The Global Automobile Liquid Accumulator market Size is expected to witness high growth. The Asia Pacific region is expected to be the fastest growing as well as dominating region in the global automobile liquid accumulator market during the forecast period. This is attributed to the high growth of the automotive industry in countries such as China, India, Japan, and South Korea. The Asia Pacific region is a global automotive manufacturing hub with the presence of renowned automakers. Furthermore, the increasing demand for commercial vehicles and rising automotive production in developing economies provides a push to the demand for automobile liquid accumulators in this region.

 

Key players:

 

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. Bosch Rexroth AG and Parker Hannifin Corporation hold a significant share in the global market. Bosch Rexroth AG offers liquid accumulators for hydraulic circuits of construction machinery and industrial vehicles. Parker Hannifin Corporation provides hydraulic accumulator solutions for automotive and industrial applications.


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https://www.newsstatix.com/automobile-liquid-accumulator-market-size-share-growth-outlook-2023/

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