Automotive Engine Belt & Hoses Market Size to Grow at a CAGR of 7.1% by 2025

Automotive Engine Belt & Hoses Market is expected to grow at a CAGR of 7.1% during the next five years, according to a newly added report by Stratview Research. The rising automobile production is the prime factor that is underpinning the automotive engine belt & hoses market globally. Further, stringent regulations concerning fuel emissions, improvement in materials used in hoses for durability, and surge in penetration of fuel-efficient technologies are the other significant factors, likely to contribute towards the growth of the global automotive engine belt & hoses market.

The report offers detailed insights in relevant market segments, their growth rates, latest market trends, forecasts, and other important details. The market has been segmented in four ways and the report has more than 150 figures and tables providing the most comprehensive information about the market segments and their growth prospects for the forecast period of 2020-2025.

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As per the report, among different Application types, The turbocharger hoses segment is estimated to lead the market during the forecast period owing to the stringent emission standards and increasing awareness regarding fuel efficiency.

Based on the vehicle type, the market is segmented as passenger car, light commercial vehicle, and heavy commercial vehicle. The passenger car segment is anticipated to dominate the market during the forecast period owing to the increasing production and demand from the emerging economies such as China, India, and ASEAN countries. Growing worldwide economy, rising disposable income of consumers, and implementation of stringent emission standards across the globe are likely to act as a catalyst towards the growth of the passenger car segment.

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Asia-Pacific is expected to lead the market for automotive engine belt & hoses during the forecast period. The market is driven by the increasing demand for automobiles, rising disposable income of consumers, and economic development in the emerging countries of the region. China, Japan, India, and South Korea are the growth engines of the region’s market. North America and Europe are the other two major markets owing to the presence of major OEMs, tier players, and raw material suppliers along with the established supply chain.

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The report further mentions about the key manufacturing players Continental AG, Toyoda Gosei Co., Ltd., Sumitomo Riko Company Limited, Yokohama Rubber Co., Ltd., Pinafore Holdings B.V., Cooper Standard Holdings, Inc., Schaeffler AG, Bando Chemical Industries Ltd., Nichirin Co., Ltd., and Hutchinson SA.who are emerging fast and their roles in the growing market. It also portraits the important mergers, acquisitions, and other current happenings in the Automotive Engine Belt & Hoses Market that can be helpful for the interested clients in analysing the market and taking right decisions accordingly.

Salient Features of the Report
The report on Automotive Engine Belt & Hoses Market is a well-researched work after analysing of various data from different reliable sources. The report included some of the salient features such as:
• Market structure,
• Market environment analysis,
• Market trend and forecast analysis,
• Market segment trend and forecast,
• Competitive landscape and dynamics,
• Attractive market segments and associated growth opportunities,
• Emerging trends,
• Strategic growth opportunities for the existing and new players,
• Key success factors

About Stratview Research:
Stratview Research is a global research company offering custom research and marker research reports for interested client in different sectors such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Healthcare & Life Sciences, and Oil & Gas. All the reports generated are based on proper data collected from reliable sources and are scrutinized carefully before releasing so that the interested clients and companies can make the most out of it.

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Stratview Research
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Direct: +1-313-307-4176

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About Stratview Research
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This release was published on openPR.