Ducts Market in the automotive industry is Likely to Reach US$ 1,442.2 million in 2024

Launching announcement of a new research report on Automotive Ducts Market which is projected to reach US$ 1,442.2 million by 2024 - forecasted by Stratview Research. The study provides an in-depth analysis by Vehicle Type (Passenger Car, LCV, and M&HCV), by Application Type (HVAC Ducts, Under-the-Hood Ducts, and Others), by Material Type (Plastic Ducts, Foam Ducts, and Others), by Process Type (Blow Molding, Injection Molding, Thermoforming, and Others), by Pressure Type (Low-Pressure Ducts and High-Pressure Ducts), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024.

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Automotive Ducts Market: Highlights
The global automotive ducts market is projected to reach an estimated value of US$ 1,442.2 million in 2024. This represents an attractive growth opportunity in the entire ecosystem of the market. Organic growth in the automobile production, owing to rising urbanization and increasing disposable income; increasing share of hatchbacks and SUVs in total vehicle production; and a continuous replacement of traditional rubber and metal ducts with plastic ducts are some of the major factors that the proliferating the growth of ducts in the automotive industry.

The automotive ducts market is segmented based on the vehicle type as Passenger Car, LCV (Light Commercial Vehicle), and M&HCV (Medium- and Heavy-Duty Commercial Vehicle). Passenger car is expected to remain the growth engine of the automotive ducts market during the forecast period of 2019 to 2024. Increasing production of passenger cars, especially hatchbacks and SUVs coupled with a higher demand for lighter ducts would remain the major driver of the segment over the next five years. Hatchbacks and SUVs are likely to generate greater demand for ducts in the passenger cars segment.

Based on the application type, the automotive ducts market is segmented as HVAC (Heating, Ventilation, and Air Conditioning) ducts, Under-the-Hood Ducts, and others. The HVAC ducts segment is expected to remain the most dominant application type in the automotive ducts market during the forecast period. HVAC ducts include various large-sized ducts, such as instrumental panel duct, roof ducts, console ducts, and pillar ducts.

Based on the material type, the market is segmented into plastic ducts, foam ducts, and other ducts. Plastic duct is expected to remain the most dominant material type in the automotive ducts market during the forecast period. The segment is driven by a host of factors, such as significant weight reduction, better mechanical and chemical properties, improved temperature resistance, and good acoustic property. Foam ducts are also gaining share in the market, driven by their weight reduction and excellent acoustics.

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Based on the pressure type, the low-pressure duct is expected to remain the larger segment of the automotive ducts market during the forecast period. All the major HVAC ducts, such as instrument panel ducts, console ducts, roof ducts, and pillar ducts, mainly fall into low-pressure range. On the other hand, high-pressure ducts are largely used in under-the-hood applications.
In terms of region, Asia-Pacific is expected to remain the largest automotive ducts market during the forecast period of 2019 to 2024. The region is also likely to experience a healthy growth during the same period. High annual automobile production is primarily driving the demand for ducts in the region. China is expected to maintain its dominance in the Asia-Pacific’s market over the next five years. The country is also the largest global market. Europe is expected to remain the second-largest automotive ducts market during the same period.

The supply chain of this market comprises raw material suppliers, automotive duct manufacturers, automotive OEMs, and dealers. The key raw material suppliers of ducts include BASF SE, E. I. du Pont de Nemours and Company, Royal DSM, Lanxess AG, and LyondellBasell. The key automotive duct manufacturers are MANN+HUMMEL, Continental AG, MAHLE GmbH, Sogefi Group, Kyoraku Co. Ltd., Trocellen GmbH, and Rochling Group. Developing lightweight automotive ducts and forming strategic alliances are the key strategies adopted by the key players to gain a competitive edge in the market.

Report Features
The report provides diverse market intelligence with maximum business value. It gives a condemnatory understanding of the market dynamics and enables strategic decision making for the existing market players as well as those willing to enter the market. The key features include the
->industry life cycle and the supply chain analysis of the market structure.
->SWOT analysis, Porter's five forces analysis and Growth Drivers and constraints.
->Market trend and the forecast analysis.
->Forecast of the market segment trend.
->Competitive landscape and dynamics of Market share, product portfolio, product launches, etc.
->Emerging trends of attractive market segments and associated growth opportunities
->Strategic growth opportunities for the existing and new players.

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This release was published on openPR.