Automotive Hoses Market is Forecasted to Reach US$ 21.8 billion in 2030, Says Stratview Research

The global automotive hoses market is projected to witness a growth rate of 5.5% annually from 2024 to 2030, with an anticipated size of US$ 21.8 billion by 2030, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global automotive hoses market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Report Highlights:
Market Size in 2030: US$ 21.8 billion
Growth (CAGR): 5.5% during 2024-2030
Forecast Period: 2024-2030
Trend Period: 2018-2022
Base Year: 2023
Number of Segments Covered: 7
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20

Segment Insights on the Automotive Hoses Market:

The global automotive hoses market is segmented based on vehicle type, propulsion type, application type, material type, pressure type, end-user type, and region.

Based on vehicle type - Light vehicles are expected to remain the biggest demand generator for hoses during the forecast period. Passenger automobiles and light commercials are among the car types with the highest annual production rates, and this category has a high demand for hoses steadily worldwide.

Based on propulsion type - Pure ICE is expected to remain the dominant and BEV is anticipated to be the fastest-growing propulsion type during the forecast period. ICE vehicles continue to dominate the automotive hoses market due to their widespread adoption, extensive manufacturing infrastructure, and established consumer base.

Based on application type - Thermal management hoses (Complex Cooling) are anticipated to continue being the foremost application type in the market during the forecast period. Contemporary internal combustion engines and hybrid systems produce more heat and therefore feature enhanced thermal control for maximum output and safe operation to avoid meltdown.

Based on material type - Rubber is expected to stay the top material of the market during the forecast period. Rubber hoses hold the major share in the automotive hoses market due to their versatility, durability, cost-effectiveness, and well-established manufacturing technology.

Based on pressure type - Low-pressure type is projected to hold a prominent position in the market during the forecast period. Low-pressure hoses are required in various systems of vehicles such as fuel delivery systems, air conditioning systems, cooling systems, and vacuum conveyance systems.

Based on end-user type - Aftermarket is expected to remain the lead end-user of the market during the forecast period. Since vehicles are often used for more than warranty periods, many hoses need to be replaced because they wear out with the vehicle's aging contributing to aftermarket demand. As the global vehicle fleet ages, the need for maintenance and replacement parts, including hoses, increases, driving demand in the aftermarket segment.

To know the most attractive segments, click here:
https://www.stratviewresearch.com/3817/automotive-hoses-market.html

Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that Asia-Pacific is expected to remain the largest market for automotive hoses during the forecast period. This growth outlook is majorly attributed to the following-

• The Asia-Pacific region is one of the largest producers of automobiles in the world with China, Japan, South Korea, and India as some of the leading automakers. This high production volume creates a high demand for automotive hoses.
• Factors such as high economic growth, urbanization, and rising disposable income in the Asia-Pacific nations improve vehicle ownership rates, which in turn, drive the demand for automotive hoses.
• The increased number of vehicles in circulation in various countries continues to drive the aftermarket for automotive replacement and refurbishment parts, including automotive hoses.
• The rise of electric and hybrid vehicles in Asia-Pacific is driving demand for advanced hoses required in these new automotive technologies.

Automotive Hoses Market Drivers:

With the world's population increasing and rapid urbanization, there is a rising demand for transportation, leading to increased manufacturing and sales of vehicles. This surge in vehicle demands is directly correlated with the automotive hoses market, as hoses are utilized in various automotive applications.

The automotive hoses market has been boosted by several other factors, including the increasing prevalence of electric and hybrid vehicles, the expansion of the aftermarket segment, a focus on vehicle safety and reliability, the demand for lightweight vehicles, vehicle electrification trends, and advancements in engine technologies.

Progress achieved in other related industries, such as the automotive industry, also highly contributes towards the growth of the market. Today's automobiles are fitted with even more complex assemblies, including cooling and heating mechanisms, turbochargers, and fuel injection mechanisms, all of which employ high-performance hoses.

Moreover, new environmental standards that constrain emissions and require higher fuel consumption are stimulating the creation of more efficient and durable hoses. This has brought about extensive production of materials and designs needed to upgrade the performance and durability of automotive hoses. Thus, these technological and regulatory forces are at work shaping and expanding the automotive hose market.

Top Companies in the Automotive Hoses Market:
Stratview Research has identified the following companies as the top market players (Based on Dominance).
• Continental AG
• Cooper-Standard Automotive Incorporation
• Eaton Corporation
• Gates Corporation
• Parker Hannifin Corporation
• Pirtek Limited
• Sumitomo Riko Company Limited
• TI Fluid System
• Toyado Gosei Company Limited
• Yokohama Rubber Company Limited

What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Automotive Hoses Market, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com

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