Automobile Liquid Accumulator MarketSize and Trends

Automobile liquid accumulator market is estimated to be valued at US$ 1,806.2 Mn in 2023 and is expected to reach US$ 2,680.1 Mn by 2030, exhibiting a compound annual growth rate (CAGR) of 5.8% between 2023 and 2030. Liquid accumulators are crucial components that are used in various systems within vehicles, such as air conditioning, hydraulic systems, suspension systems, and power steering systems. These accumulators store and regulate the flow of liquid, thus ensuring proper functioning and performance of these systems.

Automobile Liquid Accumulator Market Trends:

Shift towards integrated systems: There is an increasing trend towards the integration of liquid accumulators with other automotive systems. This integration enables better performance, efficiency, and space optimization within vehicles. For example, liquid accumulators may be integrated with power steering systems, suspension systems, or regenerative braking systems to enhance overall system performance.

According to the International Energy Agency, electric car sales rose by 43% in 2020 alone. While they still make a small share of overall car sales, countries like China, Germany, Norway have shown strong EV adoption. IEA predicts electric cars may comprise over 50% of new car sales by 2040 if governments implement right policy measures.

Increasing demand for autonomous features: Rise of autonomous driving features in vehicles is driving the need for advanced liquid accumulator systems. These systems are required to provide precise control and reliable operation of various vehicle functions, such as braking and suspension. The trend towards autonomous driving is influencing the development of liquid accumulators that can meet the unique requirements of autonomous vehicle systems. In 2021, according to a report by the United Nations Economic Commission for Europe, over 75% of new passenger vehicles sold in Europe are fitted with at least one advanced driver assistance system.

According to the U.S. Department of Transportation In 2022, estimates that compliant, pre-crash automatic emergency braking systems will be standard in 50% of new vehicles by 2022.

Automobile Liquid Accumulator Market Drivers:

Increasing vehicle production: The growth of the automobile liquid accumulator market is closely tied to the production and sales of vehicles. As the automotive industry continues to expand and vehicle production increases, the demand for liquid accumulators also rises. Growing global population, rising disposable incomes, and urbanization are key drivers behind the increasing demand for automobiles.

According to the IEA (International Energy Agency), in 2022, Global Electric Vehicle Outlook, sales of electric vehicles are predicted to increase by another 35% this year 2023 to reach 14 Mn , from the more than 10 Mn that were sold globally in 2022.

Focus on energy efficiency and sustainability: The automotive industry is placing a significant emphasis on energy efficiency and environmental sustainability. Stricter emission regulations and the need to reduce fuel consumption led to the development of more efficient vehicles. Liquid accumulators contribute to energy efficiency by optimizing fluid flow and reducing system inefficiencies, resulting in improved fuel economy and reduced emissions. According to the International Energy Agency, the global stock of electric passenger cars exceeded 10 Mn in 2020 and is estimated to grow to 145 Mn by 2030. The Agency\'s 2021 Global EV Outlook report predicts electric cars will account for over 60% of new passenger vehicle sales globally by 2040.

Automobile Liquid Accumulator Market Opportunities:

Advancements in energy storage systems: The development of advanced energy storage systems, such as high-capacity batteries and fuel cells, creates opportunities for the automobile liquid accumulator market. These systems require efficient and reliable liquid accumulators for fluid management and pressure regulation. As energy storage technologies evolve, there is a need for liquid accumulators that can support their optimal performance. According to the International Renewable Energy Agency (IRENA), in 2022, worldwide energy storage capacity additions increased by 27% to reach 8.5 GW in 2020.
Integration with advanced driver assistance systems (ADAS): Integration of advanced driver assistance systems, including adaptive cruise control, lane-keeping assist, and collision avoidance systems, presents opportunities for liquid accumulators. These systems often rely on hydraulic or pneumatic components that require fluid regulation and pressure Liquid accumulators play a crucial role in ensuring the smooth operation of these systems, thus providing opportunities for component manufacturers.