The rising global vehicle production drives the growth of the automotive belts and hoses market. In 2017 alone, some 73.5 million passenger cars and some 23.9 million commercial vehicles were produced worldwide. China, Japan, Germany, and India were the largest producers of passenger vehicles in 2017. Furthermore, passenger car sales are expected to continue to grow to about 81.6 million units in 2018 worldwide. Increasing adoption of turbochargers in vehicles and fuel efficiency trends also contribute to the growth of this market. The major restraint affecting the market is the shifting focus towards electric vehicles.
The automotive belts and hoses market is segmented by belt application type (drive and timing), hose application type (brake, power steering, cooling and heating, turbochargers), sales channel (OEM’s, aftermarket), and geography (North America, South America, Europe, Asia-Pacific, and Middle East & Africa). Based on the application of the hose, the automotive engine belt hose market can be classified into turbocharger, cooling/heating, fuel delivery, braking, and steering.
The increasing adoption of turbochargers, which needs hoses that can handle the temperature of the exhaust gases, used for increasing the fuel efficiency in the North American and Chinese markets, has resulted in an increasing demand for hoses. The adoption of electrically assisted power steering has also influenced the market for power steering hoses. The automobile electrically assisted power steering market is expected to grow at a CAGR of 15.73% during the forecast period 2015-2022. The use of blended fuels has resulted in research in fuel delivery systems, which use hoses extensively. EPA and the National Highway Traffic Safety Administration are 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.
Based on material, the automotive engine belt hose market can be segregated into rubbers & elastomers, and fiber-reinforced plastics.
Key Developments in the Market:
- April 2017: International technology company Continental opened its new Silicon Valley R&D center. The Tire and ContiTech divisions will use the Silicon Valley location to explore new applications for their products, such as hoses and surface material.
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1.1 Research Methodology
1.2 Key Findings of the Study
2. Executive Summary
3. Market Overview and Trends
3.2 Technology Trends
3.3 Porter’s Five Force Framework
3.3.1 Bargaining Power of Suppliers
3.3.2 Bargaining Power of Consumers
3.3.3 Threat of New Entrants
3.3.4 Threat of Substitute Products and Services
3.3.5 Competitive Rivalry within the Industry
4. Market Dynamics
4.1.1 Rising Global Vehicle Production
4.1.2 Increasing Adoption of Turbochargers in the Vehicles
4.1.3 Fuel Efficiency Trends
4.2.1 Shifting Focus towards Electric Vehicles
5. Global Automotive Belts and Hoses Market, By Type
5.1 Drive Belts
5.2 Timing Belts
6. 6. Global Automotive Belts and Hoses Market, By Hose Application Type
6.1 Fuel Delivery System Hoses
6.2 Braking System Hoses
6.3 Power Steering System Hoses
6.4 Heating and Cooling System Hoses
6.5 Turbocharger Hoses
7. Global Automotive Belts and Hoses Market, By Sales Channel
8. 8. Global Automotive Belts and Hoses Market, By Vehicle Type
8.1 Passenger Cars
8.2 Light Commercial Vehicles
8.3 Heavy Commercial Vehicles
9. Global Automotive Belts and Hoses Market, By Geography
9.1 North America
9.1.1 The United States
9.1.4 Rest of North America
9.2.4 South Korea
9.2.6 Rest of Asia-Pacific
9.3.1 United Kingdom
9.3.6 Rest of Europe
9.4 South America
9.4.3 Rest of South America
9.5 Africa & Middle East
9.5.2 South Africa
9.5.3 Rest of Africa & Middle East
10. Competitive Landscape
10.2 Market Share Analysis
11. Company Profiles
11.1 ContiTech AG
11.2 Cooper Standard Holding Inc.
11.4 Goodyear belts and hoses
11.5 Robert Bosch GmbH
11.6 Toyoda Gosei Co. Ltd
12. Outlook of the Market