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.

Click here to get a free sample of the report:
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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+

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 - The automotive hoses market is segmented into light vehicles and medium-& heavy-duty commercial vehicles. 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.
The global demand for personal transportation continues to rise, leading to millions of new passenger cars being sold annually. Consequently, this high volume directly results in increased demand for hoses. Increasing urbanization and the need for personal mobility drive the growth of the light vehicle segment, further boosting the demand for associated parts like hoses.
Turbocharging and advanced cooling methods are automotive engineering that are increasingly utilized in light vehicles compared to heavy vehicles. Continuous innovations in light vehicle engines, such as turbocharging and downsizing, require high-performance hoses, contributing to market growth.

Based on the propulsion type - The market is segmented into Pure ICE, Hybrid, and BEV. ICE vehicles continue to dominate the automotive hoses market due to their widespread adoption, extensive manufacturing infrastructure, and established consumer base. The infrastructure for refueling and maintaining ICE vehicles is widely available and developed worldwide, making automobiles a more accessible option for consumers and corporate entities.
ICE vehicles dominate the consumer and corporate markets and possess high market penetration with an ever-popular target market for replacement, service, and parts such as automotive hoses. Stringent emissions regulations and government policies aimed at reducing carbon footprints are pushing the adoption of zero-emission vehicles like BEVs.
BEVs are expected to be the fastest-growing segment in the future due to environmental regulations, technological advancements, government incentives, increasing consumer awareness, and significant investments by automakers. Major automakers are investing heavily in electric vehicle technology and infrastructure, announcing plans to significantly expand their electric vehicle lineups in the coming years. Emphasis on electric and hybrid automobiles has resulted in the development of hoses that can withstand high temperatures and pressures, stimulating the market.

Based on the application type - The automotive hoses market is segmented into fuel lines, turbo, SCR, electric power steering & braking systems, and thermal management hoses. 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. Another factor is the growing market for electric and hybrid vehicles that entail intricate cooling systems for battery systems, power electronics, and electric engines.
Heavier global fuel efficiency and emission standards mean that enhanced cooling systems to minimize engine temperatures and improve the entire vehicle performance are imperative. With the increasing incorporation of electrical parts and systems, proper thermal management creates a significant demand for better thermal management hoses thereby increasing their performance.

Based on the material type - The automotive hoses market is segmented into rubber hoses, thermoplastic hoses, and other hoses. Rubber hoses hold the major share in the automotive hoses market due to their versatility, durability, cost-effectiveness, and well-established manufacturing technology.
Rubber hoses can be used in a variety of industries and automotive engineering-specific applications such as cooling, fuel, and air intake applications are all needs that the rubber hoses serve. Rubber has very good resistance to wear stress which is very viable for those parts that are exposed to very harsh conditions found in most automobiles.
Rubber hoses are very flexible and can be easily installed. They are capable of working under the motions and vibrations that are normally encountered by any car. The market for thermoplastic hoses is growing rapidly, driven by the need for lightweight, high-performance, and environmentally friendly materials in modern automotive applications, particularly in electric and hybrid vehicles.

Based on the pressure type - The automotive hoses market is segmented into low, medium, and high. 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.
The low-pressure hoses are relatively cheaper to produce and replace than the high-pressure hoses; hence, making the overall cost of production low for car makers, and the cost of ownership low for auto users. They are inherently less complex both in design and construction, resulting in more robust hoses and fewer places where potential failure can occur. Numerous automotive systems rely on hoses, specifically low-pressure hoses found in passenger vehicles, which constitute a substantial portion of the automotive industry.

Based on the end-user type - The automotive hoses market is segmented into OE and aftermarket. 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. Hoses are subject to wear and tear and require regular replacement, especially in regions with extreme climates, further boosting the aftermarket demand.
Some of the characteristic dry break parts like hoses, are cheaper in the aftermarket than they are if they were original equipment parts hence attracting many customers who are looking to cut costs on servicing.

To know the most attractive segments, visit:
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:

Some of the key drivers listed in the report are given below.
- Increasing prevalence of electric and hybrid vehicles.
- the expansion of the aftermarket segment.
- Focus on vehicle safety and reliability.
- The demand for lightweight vehicles, vehicle electrification trends, and advancements in engine technologies.

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

Related Reports:

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• Automotive Electronic Braking System (EBS) Market: https://www.stratviewresearch.com/130/automotive-electronic-braking-system-market.html

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