HCV Vehicles To Drive Automotive Turbocharger Hose Market Forecast Worldwide
Various OEM participants are consistently working towards incorporating fuel-efficient engines to enhance the performance of the vehicles. Besides, there is an ease of access and abundant availability of turbocharger hoses that can be used across numerous vehicle models.
Reports reveal that the global automotive turbocharger hose market size could register more than USD 3 billion by 2027.
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The HCV turbocharger hose industry will gain considerable traction in the coming years. This can be owed to the robust applicability and ability of turbocharged HCVs to carry heavy loads. It is also found that turbocharger-equipped commercial vehicles offer heavy operability and maximum efficiency.
Leading manufacturers like Sumitomo Electric Industry and Solvay are coming up with hoses for turbochargers that can be adopted in heavy commercial vehicles. Citing the same with an instance, Gates Corporation introduced the FleetRunner Silicone turbocharger hose as well as the FleetRunner Turbocharger hose kits for truck & bus turbocharging systems. These hoses make use of bonded FKM liners to counter degradation resulting from oil infusion.
While the industry share from PCV vehicles will strike an exponential CAGR up to 2027 considering the surge in the number of sales for premium passenger turbocharged vehicles. The Automotive Turbocharger Hose Market from the gasoline fuel segment is projected to expand due to their growing adoption.
There is an increase in the number of these hoses as they offer higher levels of fuel efficiency. The gasoline-run turbocharger hoses also deliver excellent performance and assist in transforming much of the fuel into power in comparison to aspirated engines. They are also suitable for operating at higher temperature levels.
The market for Automotive Turbocharger Hose Market in the Asia Pacific will register a dominant revenue share through 2027. This can be attributed to the continuous manufacturing of heavy-duty trucks across China and India. The expansion in infrastructural developments has added positive impetus to the penetration of turbocharged HCVs across the continent.
The Organisation Internationale des Constructeurs d'Automobiles revealed that there was a significant rise in the production of heavy trucks in China, reaching up to 4.1% in 2019. It was also estimated that this manufacturing across the region saw an increase from 2.1 million units in 2018 to 2.2 million units in 2019.
Suppliers of Automotive Turbocharger Hose Market kits are incorporating various strategies like acquisitions and partnerships to increase their global presence and gain a positive edge over other competitors. For instance, SumiRiko Hosetex, Ltd., a subsidiary of Sumitomo Riko Company Ltd. for hydraulic and industrial hose manufacturing and sales, merged with the firm’s subsidiary for hose assembly machining and domestic sales, SumiRiko Hose Sales, Ltd. Motair Turbolader GmbH, Cooper Standard, Bugiad, Solvay, Continental, WACKER Chemie AG, Ferdinand Bilstein GmbH + Co. KG, Megaflex Limited, and Turbonetics, Inc, are other participants in the business.
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The novel coronavirus pandemic and its increasing footprint across the world significantly hampered the demand and supply for automotive turbocharger intake hoses. The regulation of severe restrictions by several governments on domestic and international trade, specifically in the first two quarters of 2020 drew a negative impact on the sales of the components. However, with the ease of these restrictions, the industry forecast will gradually rise at a steady rate.
Table of Contents (ToC) of the report:
Chapter 4 Competitive Landscape
4.2 Company market share analysis
4.3 Key player analysis
4.4 Competitive analysis of key market players
Chapter 5 Automotive Turbocharger Hose Market, By Vehicle
5.1 Key trends, by vehicle
5.2.1 Market estimates and forecast, 2016 – 2027
5.3.1 Market estimates and forecast, 2016 – 2027
5.4.1 Market estimates and forecast, 2016 – 2027
Chapter 6 Automotive Turbocharger Hose Market, By Fuel
6.1 Key trends, by fuel
6.2.1 Market estimates and forecast, 2016 – 2027
6.3.1 Market estimates and forecast, 2016 – 2027
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