The global automotive belt & hose market, in terms of value, is projected to grow from USD 14.6 Billion in 2015 to 20.2 Billion by 2020 at a CAGR of 6.69%.
The size of the global automotive belt & hose market in terms of value is estimated to grow at CAGRs of 6.09% and 6.82% respectively from 2015to 2020. In the past, classical chain drives were used to synchronize the crank and cam shafts. Later, in 1970, synchronized belt drive systems were introduced when overhead camshafts were introduced. Further developments in engine design and technology resulted in the use of a single belt known as the serpentine belt to power all the engine accessories. Thus, presently, two belts are used in an automobile engine, known as the drive belt and timing belt which take care of all the required functions of the engine accessories as well as the synchronization of the camshaft and the crankshaft. These belts are durable, extremely strong and provide superior performance and efficiency.The global automotive hoses market is expected to grow at a substantial growth rate in the near future owing to growing vehicle production at the global level, stringent emission regulations and norms, improvement in materials for durability of hoses, and adoption of fuel efficient technologies. A hose is defined as a flexible hollow tube structure designed to carry fluids from one location to another. Hoses are usually made of plastics or rubbers.
The demand for turbocharger hoses is anticipated to increase in the near future owing to the adoption of fuel efficient technologies and the increasing stringency of emission regulations and norms across the globe. There has been a growing demand for automobiles from the emerging economies such as China, India, Brazil, and Russia. Moving forward, the demand for automobiles in these regions is anticipated to grow at a robust rate which in turn is expected to propel the demand for hoses used in automobile applications. In terms of demand, Asia-Oceania has the largest market for automotive hoses due to the growing production of vehicles in China. Asia-Oceania is followed by North America and Europe. The U.S. is the largest market for automotive hoses in the North American region followed by Mexico, and Canada.
The demand for hoses is expected to witness strong growth from countries such as Brazil, India, and Russia in the next few years. The demand for automotive hoses in Europe is also expected to be high on account of rising production of automobiles in this region.Based on the scope of this report, the automotive belt & hose market has been segmented by engine belt type (timing, drive), by hose application (turbocharger, cooling/heating, braking, steering, fuel delivery), by vehicle type (PC, LCV, and HCV), and by region (Asia-Oceania, Europe, North America, and RoW). This report classifies and defines the global automotive belt & hose market size, in terms of volume and value. Market size in terms of volume is provided in million units from 2013–2020, whereas the market value is provided in terms of USD million. This report also provides qualitative data about types of automotive belts & hoses. The aim is to achieve a reduction to 10 mm to 14 mm from the current width of 16 to 20 mm.
The report offers a comprehensive review of market drivers, restraints, opportunities, challenges, and key issues in the global automotive belt & hose market. Key players in the market for global automotive belt & hoses have also been identified and profiled. Apart from quantitative analysis of these markets, the report also covers qualitative aspects such as value chain analysis, PEST analysis, and Porter’s Five Force analysis for the global automotive belt & hose market.
The global automotive belt & hose market is dominated by few major players with other local small/medium players. Some of the major companies operating in the global automotive hoses market are Gates Corporation (U.S.), Hutchinson SA (France), Continental AG (Germany), Sumitomo Riko Co., Ltd. (Japan), and Toyoda Gosei Co., Ltd. (Japan) among others. Major strategies adopted by these key market players include region-wise expansion and new product development. R&D activities are also focusing on reducing the width of the belt for integration in compact engines.
Please find more about Automotive Engine Belt & Hose Market by Belt Type (Timing Belt, Drive Belt), Hose Application (Turbocharger, Cooling/heating, Fuel Delivery, Braking, Steering), Vehicle Type (PC, LCV, HCV), and by Region - Global Forecast & Analysis to 2020 at reports.zursh.com
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