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Automotive Belts and Hoses Market - Growth, Trends, and Forecast (2019 - 2024)

  • ID: 4534446
  • Report
  • 65 pages
  • Mordor Intelligence
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FEATURED COMPANIES

  • ACDelco
  • ContiTech AG
  • Dayco
  • Sumitomo Riko Co. Ltd.
  • Toyoda Gosei Co. Ltd
  • MORE
Market Overview

The global automotive belts and hoses market is expected to register a CAGR of 6.87%, during the forecast period, 2019-2024.
  • The belts and hoses sector grows following the rise in demand for powertrains and other ancillary components. The stringency of emission control norms of EPA and CAFÉ has led to the improvements in exhaust and turbocharger hoses.
  • The intensity of competition in the market is high due to the presence of many regional players.
  • Asia-Pacific continues to capture a major share of more than 30% in the global market, followed by Europe and North America. Additionally, companies in the Asia-Pacific are expanding their production capacities to capture the growing demand in the region during the forecast period.
Scope of the Report

Belts and hoses are responsible for the overall performance of the vehicle. Belts are an integral part of the engine’s powertrain system that transmits power from flywheel to the camshaft. Fuel efficiency is related to belts as they regulate the valve positioning. Drive belts and timing belts are two categories of belts. Hoses are flexible pipes that allow the transportation of fluids with varying pressures. Brake hoses, power steering hoses, and turbocharger hoses are a few types of hoses. The aforementioned types of belts and hoses have been considered in the scope of the market.

The automotive belts and hoses market has been segmented by belt type, hose type, vehicle type, and geography.

Key Market Trends

Automotive Market to Witness Demand for High-Performance Hoses

Owing to the increasing demand for vehicle fuel efficiency, the adoption of the turbocharger has increased significantly. Demand for hoses around the turbocharger system has been predominantly deployed to handle the temperatures of the exhaust gases.

Also, the adoption of electrically assisted power steering has also influenced the market for power steering hoses.

EPA and the National Highway Traffic Safety Administration have been taking coordinated steps to enable the production of a new generation of clean vehicles, through reduced greenhouse gas (GHG) emissions and improved fuel use from on-road vehicles and engines. Thus, the use of blended fuels in the fuel delivery system has increased the usage of hoses extensively.

To meet the above-desired characteristics of the vehicle systems, the demand for high-performance hoses for automotive applications have been noticed over the past three years (2016-2018). Therefore, hose manufacturers have started investing to produce high-performance hoses to capture growing demand from the automotive market. For instance,

In March 2018, Evonik Industries AG (Evonik) announced that it will boost production of high-performance polymer polyamide 12 (PA 12) used in products like automotive fuel hoses. The company will invest EUR 400 million at a major plant in North Rhine-Westphalia, Germany and add facilities to the plant to manufacture the polymer and its precursors. The new facilities are expected to begin operations in early 2021 and anticipate that the company's global PA 12 capacity will increase by more than 50%.

Asia-Pacific Continues to Capture Major Market Share

The growing automobile sector in the Asia-Pacific region, with India and China emerging as automotive part manufacture hubs for the western automobile giants, is expected to drive the market for belts and hoses in this region.

Additionally, with growing sales of hybrid and electric vehicles in the region, the demand for high performance and lightweight belts and hoses (primarily made of polymer) is likely to grow with the production of electric vehicles during the forecast period.

Thus, to capture the growing demand in the market, companies in the region have started extending their production capacities. For instance,

In August 2018, Nichirin Co., Ltd. (Nichirin) will construct a new plant for automobile and motorcycle hoses in Jiangsu Province, China together with a Chinese joint venture partner, Shanghai Beicai Industry Co., Lt, with an aim to start operations at the new plant in June 2019. The company also plans to extend its production operation in Indonesia and Vietnam to capture the growing demand from the Asia-Pacific automotive market.

Competitive Landscape

The automotive reed switches/sensors market is highly fragmented due to the presence of many regional players. However, some of the major players, like Sumitomo Riko Co. Ltd., Goodyear Tire & Rubber Company, Toyoda Gosei Co. Ltd, ContiTech AG, etc., have captured significant shares in the market.

With the growing trend of lightweight and fuel-efficient vehicles, companies have started investing to produce more advanced materials for belts and hoses to meet the growing standards of the automotive industry.
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • ACDelco
  • ContiTech AG
  • Dayco
  • Sumitomo Riko Co. Ltd.
  • Toyoda Gosei Co. Ltd
  • MORE
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Force Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION
5.1 By Belt Type
5.1.1 Drive Belt
5.1.2 Timing Belt
5.2 By Hose Type
5.2.1 Fuel Delivery System Hoses
5.2.2 Braking System Hoses
5.2.3 Power Steering System Hoses
5.2.4 Heating and Cooling System Hoses
5.2.5 Turbocharger Hoses
5.3 By Vehicle Type
5.3.1 Passenger Car
5.3.2 Commercial Vehicle
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Rest of North America
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Rest of Europe
5.4.3 Asia Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Rest of Asia-Pacific
5.4.4 Rest of the World
5.4.4.1 Brazil
5.4.4.2 South Africa
5.4.4.3 Other Countries

6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share**
6.2 Company Profiles
6.2.1 Sumitomo Riko Co. Ltd.
6.2.2 ACDelco
6.2.3 Toyoda Gosei Co. Ltd
6.2.4 ContiTech AG
6.2.5 Goodyear Tire & Rubber Company
6.2.6 Dayco

7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Note: Product cover images may vary from those shown
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  • Sumitomo Riko Co. Ltd.
  • ACDelco
  • Toyoda Gosei Co. Ltd
  • ContiTech AG
  • Goodyear Tire & Rubber Company
  • Dayco
Note: Product cover images may vary from those shown
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