Automotive Engine Belt & Hoses Market to offer a healthy CAGR of 7.1% during 2020-25
February 11, 2020
Automotive Engine Belt & Hoses Market Overview:
Automotive engine belt & hoses market is likely to witness an impressive CAGR of 7.1% during the forecast period. The rising automobile production is the prime factor that is underpinning the automotive engine belt & hoses market globally. Further, stringent regulations concerning fuel emissions, improvement in materials used in hoses for durability, and surge in penetration of fuel-efficient technologies are the other significant factors, likely to contribute towards the growth of the global automotive engine belt & hoses market.
Report Overview:
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
- Strategic segmentation
- Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Detailed Competitive Rivalry landscaping
- Market trend and forecast analysis
- Future Growth Boulevards
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Automotive Engine Belt & Hoses Market Segment Insights:
Turbocharger Hoses: The growth engine
Based on the application type, the market is segmented as cooling/heating hose, turbocharger hoses, fuel delivery system hose, braking hose, and steering hose. The turbocharger hoses segment is estimated to lead the market during the forecast period owing to the stringent emission standards and increasing awareness regarding fuel efficiency.
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https://www.stratviewresearch.com/toc/637/automotive-engine-belt-&-hoses-market.html
Dominance of: Passenger Car
Based on the vehicle type, the market is segmented as passenger car, light commercial vehicle, and heavy commercial vehicle. The passenger car segment is anticipated to dominate the market during the forecast period owing to the increasing production and demand from the emerging economies such as China, India, and ASEAN countries. Growing worldwide economy, rising disposable income of consumers, and implementation of stringent emission standards across the globe are likely to act as a catalyst towards the growth of the passenger car segment.
A highly/moderately/fragment consolidated Market
Some of the major automotive engine belt & hose suppliers are Continental AG, Toyoda Gosei Co., Ltd., Sumitomo Riko Company Limited, Yokohama Rubber Co., Ltd., Pinafore Holdings B.V., Cooper Standard Holdings, Inc., Schaeffler AG, Bando Chemical Industries Ltd., Nichirin Co., Ltd., and Hutchinson SA.
Regional Hegemony of Asia-Pacific
Asia-Pacific is expected to lead the market for automotive engine belt & hoses during the forecast period. The market is driven by the increasing demand for automobiles, rising disposable income of consumers, and economic development in the emerging countries of the region. China, Japan, India, and South Korea are the growth engines of the region’s market. North America and Europe are the other two major markets owing to the presence of major OEMs, tier players, and raw material suppliers along with the established supply chain.
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