The automobile liquid accumulator, also known as surge tank, is an energy storage device used to absorb pressure surges or provide buffer storage of liquids in automotive hydraulic and brake systems. It prevents compressible air or gas bubbles from entering the system, ensuring consistent fluid pressure and optimum braking performance. Accumulators are increasingly being incorporated in modern vehicles to reduce wear and tear of hydraulic components and improve fuel efficiency. They play a crucial role in regenerative braking systems of hybrid electric vehicles by storing brake energy for reuse. Accumulators provide important safety benefits as well by acting as a reserve of pressurized fluid during a brake malfunction.
The global Automobile Liquid Accumulator Market is estimated to be valued at US$ 2080.75 Mn in 2024 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 Dynamics:
Growing demand for energy-efficient vehicles is a major driver favoring growth of the automobile liquid accumulator market. Accumulators help capture and store kinetic energy lost during braking, which can then be reused to power electric motors, thereby improving fuel economy. Stringent corporate average fuel economy (CAFE) standards across regions are prompting automakers to focus on developing regenerative braking technologies supported by efficient accumulators. For instance, the Corporate Average Fuel Economy regulation in the US requires automakers to meet the average fuel economy standard of 54.5 miles per gallon by 2026.
Another factor propelling the market is substantial usage of liquid accumulators in hybrid electric vehicles (HEVs) for their regenerative braking function. Hybrid powertrains coupled with advanced accumulators are gaining widespread adoption amid rising environmental awareness. According to the International Energy Agency, global electric car stock surpassed 10 million in 2020 and is expected to grow at a rapid pace in the coming decade.
Segment Analysis
The global automobile liquid accumulator market can be segmented by type, vehicle type, sales channel and region. Based on type, the market is divided into hydropneumatic accumulator and bladder accumulator. The hydropneumatic accumulator segment dominates the market as it is more efficient than the bladder type. It provides improved braking and suspension performance in commercial vehicles.
PEST Analysis
Political: Favourable government policies towards promoting production of electric vehicles will boost the market. Tax rebates and subsidies encourage adoption of green vehicles.
Economic: Rising disposable incomes has increased sales of passenger cars globally. Developing nations are witnessing higher automobile demand which will drive the accumulator market.
Social: Change in lifestyle and urbanization has increased personal vehicle ownership. Preference for luxury and comfortable ride quality will augment demand.
Technological: Developments in suspension and braking systems require effective accumulator technologies. Adoption of regenerative braking in hybrid vehicles creates opportunities.
Key Takeaways
The global automobile liquid accumulator market share is expected to witness high growth. The global Automobile Liquid Accumulator Market is estimated to be valued at US$ 2080.75 Mn in 2024 and is expected to exhibit a CAGR of 4.1% over the forecast period 2024 to 2031.
North America dominates the market currently owing to large automobile production base and adoption of advanced technologies. Asia Pacific is expected to outpace others with China, India and Japan emerging as major automobile hubs.
Key players
operating in the automobile liquid accumulator market are 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. Key players are focusing on product innovations and collaborations. For instance, Liebherr introduced accumulator models for hybrid commercial vehicles to meet stringent emission standards.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
