Press release
Brake Hoses Market Size, Emerging Trends, Market Opportunities, Key Players And Forecast To 2033
Brake Hoses Market
The brake hoses market size is expected to see strong growth in the next few years. It will grow to $23.66 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to electric and hybrid vehicle growth, autonomous vehicle development, integration of smart brake systems, continued emphasis on safety standards, globalization of automotive supply chains. Major trends in the forecast period include increased adoption of lightweight materials, focus on high-performance brake systems, shift towards electric and hybrid vehicles, technological advancements in brake hose design, increased demand for pre-assembled brake hoses.
Market Overview -
Brake hoses are mechanical components that transfer brake fluid from the master cylinder to the brake wheel and are used to slow down or stop vehicles. Break Hoses links brake pipes and wheel brakes in a flexible manner. It is responsible for transferring hydraulic pressure to the wheel cylinders and braking calipers.
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Accelerating Brake Hoses Market Driven By Surging Demand For Passenger And Commercial Vehicles
Rising demand for passenger and commercial vehicles is significantly contributing to the growth of the brake hoses market. A commercial or passenger motor vehicle is type of vehicle used for the profit of an individual or business to transport goods or passengers. The rapid growth in disposable income among individuals in both developing and developed countries, as well as growing demand for daily commuting to work, has contributed to rapid growth in passenger and commercial vehicle demand. The rapid growth in demand for passenger and commercial vehicles is expected to increase the demand for automotive brake hoses, which are an essential component in the manufacturing of automotive vehicles. For instance, according to June 2021, a report from France-based OICA (International Organization of Motor Vehicle Manufacturers), a France-based international trade association, global passenger car sales increased from 53 million in 2020 to 56 million in 2021. Similarly, commercial vehicle sales increased from 24 million in 2020 to 26 million in 2021. Therefore, the rising demand for passenger and commercial vehicles is expected to propel the growth of the brake hoses market going forward.
Competitive Landscape -
Major companies operating in the brake hoses market report are Continental Aktiengesellschaft, Hitachi Metals Ltd., BorgWarner Inc., Dayco IP Holdings LLC, Edelbrock LLC, The Gates Corporation, Hengshui Brake Hose Machinery Co. Ltd., Hutchinson S.A., Jagwire International Inc., M S Enterprises, Nichirin Co. Ltd., Parker-Hannifin Corporation, Polyhose Pvt. Ltd., Bosch Rexroth AG, Cooper-Standard Holding Inc., ACDelco, Advics Co. Ltd., Akebono Brake Industry Co. Ltd., Aptiv PLC, Bendix Commercial Vehicle Brake System LLC, Brembo S.p.A., BrakeQuip LLC, Centric Parts, Crown Automotive, DBA Group, Dorman Products Inc., Federal-Mogul Motorparts Corporation, Hella GmbH & Co. KGaA, KST Technology Inc., Meritor Inc. .
Zf Friedrichshafen Unveils Onguardmax For Commercial Vehicles In China
Major companies operating in the brake hoses sector are focused on developing technologically advanced brake hoses to for easy installation, enhanced safety, and durability. For instance, in April 2021, ZF Friedrichshafen, a Germany-based technology company that supplies brake hoses for passenger cars and commercial vehicles, introduced OnGuardMAX, an advanced autonomous emergency braking hose for commercial vehicles in China. It detects, classifies, and reacts autonomously to moving and stationary vehicles, motorcycles, bicycles, and pedestrians. A high-performance image processing module assists this technology with an advanced radar sensor and high-resolution dual-lens camera.
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Key Segments -
The brake hoses market covered in this report is segmented -
1) By Brake Type: Hydraulic Brake, Pneumatic Brake
2) By Material Type: Rubber, Nylon, Metal, Polytetrafluoroethylene
3) By Vehicle Type: Two-Wheeler, Passenger Vehicle, Light Commercial Vehicle, Heavy Vehicle
4) By Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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