Automobile liquid accumulators are pressure vessels used in
vehicle suspension and braking systems to store pressurized fluids like oils,
brake fluids and other hydraulic fluids. They help in absorbing pressure surges
in suspension and braking systems thereby reducing wear and tear of components.
They also facilitate braking, turning and suspension related operations
smoothly. With stringent emission norms forcing automakers to reduce vehicle
weight, automobile liquid accumulators have become indispensable as they save
significant amounts of space and weight compared to conventional vessels used
for the same purpose.
The global Automobile Liquid Accumulator Market is estimated to be valued at
US$ 2080.75 Mn in 2023 and is expected to exhibit a CAGR of 4.1% over the forecast period 2024 to 2031, as highlighted
in a new report published by Coherent Market Insights.
Market Opportunity
Adoption of electric vehicles is growing rapidly owing to incentives and
policies promoting eco-friendly mobility. With focus on reducing vehicle weight
to increase driving range, automobile liquid accumulators are finding increased
applicability in electric vehicles. Their compactness and ability to integrate
seamlessly with existing hydraulic circuits is a big advantage. Also, in a move
to meet stringent tailpipe emissions, automakers are developing more efficient
suspension and braking technologies where advanced accumulators play a vital
role. This is expected to drive robust demand for automobile liquid
accumulators over the forecast period.
Porter’s Analysis
Threat of new entrants: The automobile liquid accumulator market requires high
initial investments for manufacturing facilities and R&D. Established
brands have strong brand loyalty that deters new entrants.
Bargaining power of buyers: The presence of several key players intensifies
competition, increasing bargaining power of large fleet owners and OEMs.
Standardized products limit differentiation.
Bargaining power of suppliers: Specialized components and patented designs
limit easy substitutability of suppliers. Suppliers have moderate bargaining
power.
Threat of new substitutes: No major substitutes exist for automobile liquid
accumulators used in hydraulic systems and suspension applications.
Competitive rivalry: The market comprises large multinational corporations and
regional players. Intense competition keeps pricing and profit margins low.
SWOT Analysis
Strength: Established brands have strong R&D capabilities, product quality,
and global sales & service networks. Accumulators improve vehicle
performance, safety, and compliance with emission norms.
Weakness: Small regional players have limited resources for product innovation.
Fluctuating raw material prices impact profitability.
Opportunity: Growth in fleet size, infrastructure projects, and shared mobility
offers increased demand. Developing regions are expanding automobile and
construction sectors.
Threats: Strict emission regulations mandate upgrades, increasing costs. Trade
wars and economic slowdowns curb new vehicle sales.
Key Takeaways
The global
automobile liquid accumulator market scope is expected to witness high
growth supported by increased infrastructural investments and fleet procurement
across regions. The global Automobile Liquid Accumulator Market is estimated to
be valued at US$ 2080.75 Mn in 2023 and is expected to exhibit a CAGR of 4.1%
over the forecast period 2024 to 2031.
The Asia Pacific automobile liquid accumulator market
accounted for the largest share in 2024 owing to presence of key automotive
hubs in China, Japan, and India. Regional governments are emphasizing
urbanization and transportation projects, driving the accumulator market.
Southeast Asian countries are witnessing infrastructure booms, complementing
accumulator demand. South America offers lucrative opportunities due to
initiatives to modernize transportation in Brazil and Peru.
Key players
operating in the automobile liquid accumulator market
include Liebherr-International AG, Shanghai Zhenhua Heavy Industries Co., Ltd.,
Wison Group, Konecranes, Kalmar, Kranunion GmbH, Sany Group Co., Ltd., Noell
Crane Systems (China) Limited, Anupam Industries Limited, and MAC PORT Macchine
Operatrici Portuali s.r.l. Major players focus on new product development,
mergers, and expansion strategies to gain market share and strengthen
distribution networks across regions.
Get more insights on this topic: https://www.trendingwebwire.com/automobile-liquid-accumulator-market-industry-insights-trends-automobile-liquid-accumulator-market/
Explore more information on this topic, Please visit: https://techaxen.com/forging-an-ancient-metals-forming-process-still-thriving-in-modern-times/
Comments
0 comment