The global automotive belts and hoses market size is estimated to expand at a considerable CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the increasing demand for powertrains and other ancillary components.
The overall performance of vehicles depends on belts and hoses. Timing belt and drive belts are two types of belts used in the car. The integral part of the engine powertrain system is belt as it transfers power from flywheel to camshaft. Belts balance the valve positioning, a crucial factor for fuel efficiency. Various types of hoses power steering hoses, brake hoses, and turbocharger hoses exist in the market. The varying pressure hoses allow the transportation of fluids.
The COVID-19 outbreak has affected the demand and production owing to disruption in the supply chain.
Market Trends, Drivers, Restraints, and Opportunities
- Improvement in exhaust and turbocharger hose designs due to the stringent emission control norms of EPA and CAFE is estimated to propel the market growth.
- Increasing sales of hybrid and electric vehicles and demand for high-performance and lightweight belts and hoses are anticipated to spur the growth of the market.
- Rising global vehicle production and adoption of turbochargers in vehicles is speculated to contribute to the growth of the market.
- Shifting focus toward electric vehicle (EV) can restrain the automotive belts and hoses market.
- The belts and hoses get damage after certain time as they undergoes wear and tear. Thus, regular changing of belts and hoses can create challenges for the market growth.
- Growing adoption of electrically assisted power steering is expected to drive the power steering hoses market.
Scope of the Report
The report on the global automotive belts and hoses market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
| Attributes | Details |
| Report Title | Automotive Belts And Hoses Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
| Base Year | 2020 |
| Historic Data | 2018–2019 |
| Forecast Period | 2021–2028 |
| Segmentation | Hose Types (Power Steering System Hoses, Heating & Cooling System Hoses, Fuel Delivery System Hoses, Braking System Hoses, and Turbocharger Hoses), Belt Types (Timing Belt and Drive Belt), and Vehicle Types (Commercial Vehicles and Passenger Cars) |
| Regional Scope | Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
| Report Coverage | Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
| Key Players Covered in the Report | ACDelco; TOYODA GOSEI Co., Ltd.; Sumitomo Riko Company Ltd.; Goodyear Tire & Rubber Company; and Continental AG. |
Automotive Belts and Hoses Market Segment Insights
Power steering system hoses segment to grow at a rapid pace
Based on hose types, the automotive belts and hoses market is segregated into power steering system hoses, heating & cooling system hoses, fuel delivery system hoses, braking system hoses, and turbocharger hoses. The power steering system hoses segment is estimated to grow at a rapid pace due to the adoption of electrically assisted power steering and rising technological advancements in power steering system.
Drive belt segment to expand at a robust CAGR
On the basis of belt types, the automotive belts and hoses market is bifurcated into timing belt and drive belt. The drive belt segment is projected to expand at a considerable CAGR during the forecast period. Drive belt is used in engine to drive the alternator from the crankshaft power steering pump, and AC compressor that is strengthened by multiple V-belts. On the other hand, the timing segment is anticipated to account for a major market share in the projected timeline. Crankshaft turns into camshaft due to notched rubber. The movement of the engine piston is adjusted by camshaft.
Passenger car segment is projected to account for a significant market share
In terms of vehicle types, the market is categorized as commercial vehicles and passenger cars. The passenger car segment is projected to account for a significant market share during the forecast period due to constant increase in production of passenger cars.
Asia Pacific is anticipated to constitute a key market share
In terms of regions, the automotive belts and hoses market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to constitute a key share of the market during the forecast period owing to rapid industrialization in emerging economies such as India and China. Moreover, favorable policies have encouraged foreign companies to invest in these countries.
Segments
Segments Covered in the Report
The automotive belts and hoses market has been segmented on the basis of
Hose Types
- Power Steering System Hoses
- Heating & Cooling System Hoses
- Fuel Delivery System Hoses
- Braking System Hoses
- Turbocharger Hoses
Belt Types
Vehicle Types
- Commercial Vehicles
- Passenger Cars
Regions
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East
- Africa
Key Players
- ACDelco
- TOYODA GOSEI Co., Ltd.
- Sumitomo Riko Company Ltd.
- Goodyear Tire & Rubber Company
- Continental AG.
Competitive Landscape
The key players competing in the automotive belts and hoses market are ACDelco, TOYODA GOSEI Co., Ltd., Sumitomo Riko Company Ltd., Goodyear Tire & Rubber Company, and Continental AG.
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