Automotive Hoses Market Set to Reach US$ 21.8 Billion by 2030, Reports Stratview Research

Stratview Research, a leading global market research firm, forecasts that the global automotive hoses market will grow at an annual rate of 5.5%, reaching US$ 21.8 billion by 2030. The report provides a detailed outlook on regional and global markets, emerging trends, segment analysis, competitive landscape, and key market drivers.

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Key Report Highlights:
• Market Size by 2030: US$ 21.8 billion
• Growth Rate (CAGR): 5.5% (2024-2030)
• Forecast Period: 2024-2030
• Trend Period: 2018-2022
• Base Year: 2023
• Segments Covered: 7
• Number of Tables & Graphs: 100+

The report serves as a comprehensive decision-making tool for key stakeholders such as CXOs, business strategists, and investors, offering:
• Strategic Clarity: Insights into market trends, growth opportunities, and emerging challenges to streamline business strategies.
• Competitive Intelligence: Analysis of top players, their market positioning, and innovative strategies driving their success.
Future Readiness: A detailed outlook on evolving market dynamics, technological advancements, and industry disruptions.

Segment Insights on the Automotive Hoses Market:
The report dives deep into the segmentation of the automotive hoses market based on critical parameters:

• By Vehicle Type: The 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. 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.

• By Propulsion Type: The market is segmented into Pure ICE, Hybrid, and BEV. 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. 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.

• By Application Type: The 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. 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.

• By Material Type: The market is segmented into rubber hoses, thermoplastic hoses, and other hoses. 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. 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.

• By Pressure Type: The 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.

• By End-User Type: The 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.

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Which Region Shows the Most Promising Growth Forecast and Opportunity?
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:
The growth of the automotive hoses market is driven by a combination of macroeconomic factors, evolving industry needs, and technological innovation. Companies are recognizing the need to adapt to shifting market dynamics and are increasingly investing in research, product development, and strategic alliances to maintain their market edge.
Some of the key factors producing measurable change in the market dynamics are as follows:
• 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:
The report profiles prominent companies operating in the automotive hoses market, providing detailed insights into their market positioning, key strategies, and competitive advantages. Listed below are some of the key players.
• 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 comprehensive report also answers the following critical questions:
• What is the projected market size and growth potential?
• Which regions and segments are most lucrative for investment?
• Who are the major players, and what are their strategies?
• What challenges and opportunities exist in the market?
• What key trends are shaping the market's future?

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