Recent Research Indicates Automotive Hoses Market Poised to Thrive with a 5% CAGR

In 2022, the global automotive hoses market attained a valuation surpassing USD 10 billion, and it is anticipated to exhibit a CAGR of approximately 5% throughout the forecast period from 2023 to 2030. The market's growth is propelled by various factors, including the escalating demand for lightweight and high-performance hoses, the expanding automotive industry, and the increasing popularity of electric vehicles. Additional contributors encompass the rising adoption of turbocharged engines, heightened demand for passenger cars, and advancements in materials for manufacturing automotive hoses.

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Market Trends:

·???????? Increasing demand for electric vehicles (EVs): EVs require different types of hoses than traditional internal combustion engine (ICE) vehicles. This shift is driving demand for hoses made from materials compatible with electric and hybrid powertrains.

·???????? Growing adoption of advanced driver-assistance systems (ADAS) and autonomous vehicles (AVs): These technologies require high-performance hoses capable of transmitting data and fluids reliably under various conditions.

·???????? Stringent emission regulations: Governments worldwide are implementing stricter emission regulations, pushing manufacturers to develop more efficient and environmentally friendly vehicles. This, in turn, drives demand for hoses made from lighter and more durable materials that contribute to reduced fuel consumption and emissions.

·???????? Rising focus on safety: Automotive hoses play a crucial role in ensuring vehicle safety by transporting critical fluids like fuel, coolant, and brake fluid. Manufacturers are focusing on developing hoses with enhanced safety features, such as burst-proof design and leak detection systems.

·???????? Advancements in material technology: Manufacturers are constantly developing new materials for automotive hoses with improved properties like higher heat resistance, chemical resistance, and pressure resistance. This allows for a wider range of applications and longer lifespan for hoses.

According to the recent report published by RC Market Analytics, the Global Automotive Hoses Market is expected to provide sustainable growth opportunities during the forecast period from 2023 to 2030. This latest industry research study analyzes the automotive hoses market by various product segments, applications, regions and countries while assessing regional performances of numerous leading market participants. The report offers a holistic view of the automotive hoses industry encompassing numerous stakeholders including raw material suppliers, providers, distributors, consumers and government agencies, among others. Furthermore, the report includes detailed quantitative and qualitative analysis of the global market considering market history, product development, regional dynamics, competitive landscape, and key success factors (KSFs) in the industry.

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Geographically, the automotive hoses market report comprises dedicated sections centering on the regional market revenue and trends. The automotive hoses market has been segmented on the basis of geographic regions into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Automotive hoses market estimates have also been provided for the historical years 2020 & 2021 along with forecast for the period from 2023 - 2030.The report includes a deep-dive analysis of key countries including the U.S., Canada, the U.K., Germany, France, Italy, China, Japan, India, Australia, Mexico, Brazil and South Africa, among others. Thereby, the report identifies unique growth opportunities across the world based on trends occurring in various developed and developing economies.

The Automotive Hoses Market Segmentation:

By Material:

• Rubber
• Plastic
• Metal

By Application:

• Cooling Systems
• Turbochargers
• Fuel Systems
• Emission Control
• Power Steering
• Others

By Vehicle Type:

• Passenger Cars
• Heavy Commercial Vehicle (HCVs)
• Light Commercial Vehicle (LCVs)
• Others

By Sales Channel:

• OEM (Original Equipment Manufacturer)
• Aftermarket

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key players in the global automotive hoses market include Continental AG, Gates Corporation, Sumitomo Riko Co., Ltd., Eaton Corporation plc, and Nichirin Co., Ltd. These companies are actively pursuing market opportunities through strategies such as expansion, new investment, the introduction of innovative services, and collaborative initiatives. For example:

• In September 2022, KA merged its Fluid Transfer Systems (FTS) and Couplings business units to establish a new business unit named ‘Flow Control Systems’. The FTS unit of KA provides PTFE hoses and hose assemblies to several automotive and industrial markets, while the couplings business is a supplier of compressed air couplings to the commercial vehicle market globally.
• ContiTech, the industrial segment of Continental AG, announced in July 2022 that it will undergo a significant restructuring of its hose sites in Germany. The move comes in response to an oversupply of rubber hoses for combustion engines caused by the automobile industry’s transition.

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Key Questions Answered by Automotive Hoses Market Report:

• Product popularity and adoption based on various country-level dynamics
• Regional presence and product development for leading market participants
• Market forecasts and trend analysis based on ongoing investments and economic growth in key countries
• Competitive landscape based on revenue, product offerings, years of presence, number of employees and market concentration, among others
• Various industry models such as SWOT analysis, Pestle Analysis, Porter’s Five Force model, Value Chain Analysis pertaining to Automotive Hoses market
• Analysis of the key factors driving and restraining the growth of the global, regional and country-level markets from 2020-2027

About Us: RC Market Analytics is a global market research firm. Our insightful analysis is focused on developed and emerging markets. We identify trends and forecast markets with a view to aid businesses identify market opportunities to optimize strategies. Our expert’s team of analysts’ provides enterprises with strategic insights. RC Market Analytics works to help enterprises grow through strategic insights and actionable solutions. Feel free to contact us for any report customization at [email protected].

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