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Automotive Engine Belt & Hose Market worth $40.48 billion by 2030, growing at a CAGR of 5.51% - Exclusive Report by 360iResearch
Automotive Engine Belt & Hose Market | 360iResearch
The Global Automotive Engine Belt & Hose Market to grow from USD 27.80 billion in 2023 to USD 40.48 billion by 2030, at a CAGR of 5.51%.
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Automotive engine belts and hoses are crucial elements in the automotive industry, as these components maintain the vehicle's overall performance and extend its lifespan. Engine belts, such as timing belts or serpentine belts, facilitate efficient mechanical power transfer across various engine parts, including water pumps, alternators, and air-conditioners. Hoses are essential to the cooling system, ensuring proper coolant circulation between the radiator and engine to prevent overheating. As automobile production grows worldwide, so does the demand for high-quality engine belts and hoses. Furthermore, strict regulatory norms by governments for reducing carbon emissions and vehicle pollution across the globe have been fostering the adoption of engine hoses in automobiles. These automotive components face issues of wear and tear owing to prolonged and extensive operations, which further hinder the scope of the global automotive engine belts and hose market. Moreover, the recent shift toward adopting electric vehicles has emerged as a significant challenge for automotive engine belts and hose businesses. However, the market has witnessed significant advancements with respect to material technology and product design in recent years. Manufacturers are increasingly focusing on developing lightweight materials that offer enhanced durability and better heat resistance while reducing fuel consumption owing to their light weight. In addition, surging demand for eco-friendly products has led to the development of low-emission hoses that minimize fluid leakage, and help meet emission standards set by regulatory bodies, creating lucrative opportunities for the global automotive engine belts and hose market development.
In the Americas, the automotive engine belt and hose market is experiencing significant growth, driven by the combination of technological advancements in the automotive industry and stringent government regulations regarding emissions control. Adopting lightweight materials, such as advanced polymers and composites, has contributed to developing durable, long-lasting belts and hoses that can withstand harsh conditions while improving fuel efficiency. Stringent government regulations regarding emissions control across the U.S., Canada, and many other regions are propelling the need for efficient engine components. The Asia-Pacific region has witnessed a stronger landscape due to the expanding presence of automobile manufacturers across China, India, and Japan. Moreover, the rising population across APAC has generated higher demand for passenger vehicles, resulting in the higher production of engine belts and hoses. The growing industrial and commercial infrastructural development has further fueled the market growth by raising the adoption of heavy and lightweight commercial vehicles and created potential opportunities for automotive belt and hose manufacturers. With the EMEA region being a significant contributor to global vehicle manufacturing, an increase or decrease in vehicle production directly affects the demand for automotive engine belts and hoses. Stringent emission norms such as Euro 6 standards push automakers toward adopting more efficient engines that may require modifications or upgrades to their existing belt-driven systems leading to a stronger landscape for regional automotive belt and hose manufacturers. With growing awareness around sustainability, consumers in the EMEA region are increasingly seeking environmentally friendly options such as EVs and hybrid vehicles, which can affect the demand for engine belts and hoses.
Market Segmentation & Coverage:
This research report categorizes the Automotive Engine Belt & Hose Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Type, market is studied across Drive Belt and Timing Belt. The Drive Belt is projected to witness significant market share during forecast period.
Based on Application, market is studied across Braking Hose, Cooling or Heating Hose, Fuel Delivery System Hose, Steering Hose, and Turbocharger Hoses. The Cooling or Heating Hose is projected to witness significant market share during forecast period.
Based on Vehicle Type, market is studied across Heavy Commercial Vehicle, Light Commercial Vehicle, and Passenger Car. The Light Commercial Vehicle is projected to witness significant market share during forecast period.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Americas commanded largest market share of 38.41% in 2023, followed by Europe, Middle East & Africa.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Automotive Engine Belt & Hose Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Automotive Engine Belt & Hose Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Automotive Engine Belt & Hose Market, highlighting leading vendors and their innovative profiles. These include Aisin Seiki Co., Ltd., Bando Chemical Industries, Ltd., BG Automotive Ltd., BorgWarner Inc., Continental AG, Cooper Standard Automotive Inc., Dayco Products, LLC, Gates Industrial Corporation PLC, Goodyear by Adventry Corp, Hutchinson by TDK Corporation, JK Fenner, Megadyne Group, Mitsuba Corporation, Mitsuboshi Belting Ltd., Nichirin Co., Ltd., NOK Corporation, Parker-Hannifin Corporation, Schaeffler AG, SKF Group, Sumitomo Riko Company Limited, Tenneco, The Yokohama Rubber Co., Ltd., Toyoda Gosei Co., Ltd., Tsubakimoto Chain Co., and Virginia Tire & Auto.
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Automotive Engine Belt & Hose Market, by Type
7. Automotive Engine Belt & Hose Market, by Application
8. Automotive Engine Belt & Hose Market, by Vehicle Type
9. Americas Automotive Engine Belt & Hose Market
10. Asia-Pacific Automotive Engine Belt & Hose Market
11. Europe, Middle East & Africa Automotive Engine Belt & Hose Market
12. Competitive Landscape
13. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Automotive Engine Belt & Hose Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Automotive Engine Belt & Hose Market?
3. What is the competitive strategic window for opportunities in the Automotive Engine Belt & Hose Market?
4. What are the technology trends and regulatory frameworks in the Automotive Engine Belt & Hose Market?
5. What is the market share of the leading vendors in the Automotive Engine Belt & Hose Market?
6. What modes and strategic moves are considered suitable for entering the Automotive Engine Belt & Hose Market?
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