Automotive Hoses Market

According to Stratistics MRC, the Global Automotive Hoses Market is accounted for $23.59 billion in 2023 and is expected to reach $45.39 billion by 2030 growing at a CAGR of 9.8% during the forecast period. Automotive hoses are crucial parts of cars because they carry coolant, oil, and fuel, among other fluids, in the various systems of the car. These hoses, which are usually composed of silicone or rubber, are intended to endure high pressure, temperatures, and the corrosive properties of the fluids they transport. Every component, from fuel lines to radiator hoses, is essential to maintaining the vehicle's optimal operation. Moreover, automotive hoses need to be inspected and maintained on a regular basis to avoid leaks, overheating, and possible engine damage.

According to the European Automobile Manufacturers Association (ACEA), The automotive industry is committed to reducing emissions and improving fuel efficiency through technological innovation and regulatory compliance.

Market Dynamics: 

Driver: 

Growth of hybrid and electric vehicles

The automotive industry is changing due to the increasing popularity of electric and hybrid vehicles, which is driving up demand for hoses that are specifically made to meet their needs. Hybrid cars use cooling hoses for both electric motor and internal combustion engine cooling, but electric vehicles need them for battery thermal management systems. Additionally, the need for automotive hoses that work with their drive trains and cooling systems is growing along with the market share of electric and hybrid cars, creating new avenues for innovation and market expansion. 

Restraint:

Increasing Prices for Raw Materials

Rubber, silicone, and different polymers are major raw materials used in the automotive hose industry. For hose manufacturers, price fluctuations resulting from supply chain disruptions, geopolitical unrest, and shifting market dynamics can have a big effect on production costs. Furthermore, manufacturers find it difficult to predict and stabilize product pricing due to the volatility of raw material prices, which may have an impact on profit margins and market competitiveness.

Opportunity:

Prioritize eco-friendly solutions and sustainability.

Hose manufacturers have an opportunity to create eco-friendly solutions that satisfy consumer preferences and legal requirements because of the increased focus on sustainability and environmental responsibility. Businesses can lessen their environmental impact and win over environmentally sensitive customers by implementing sustainable manufacturing techniques, recycled materials, and renewable resources. Moreover, a more robust and sustainable supply chain can be promoted by hose manufacturers by implementing circular economy concepts like product reuse, remanufacturing, and recycling, which can also result in new business models and revenue streams.

Threat:

Strong competitive rivalry

There is fierce competition in the automotive hose market, with many players ranging from multinational corporations to local manufacturers and aftermarket suppliers. In order to preserve market share, businesses are under constant pressure to innovate, distinguish their products, and provide competitive pricing in this highly competitive environment. Furthermore, the existence of low-cost rivals and fake goods exacerbates competition and jeopardizes the profitability and reputation of genuine manufacturers.

Covid-19 Impact: 

The COVID-19 pandemic caused production, supply chains, and consumer demand to be disrupted, which had a substantial effect on the automotive hose market. Widespread lockdowns and social distancing measures during the early stages of the pandemic forced automakers to temporarily stop production, which had a severe negative impact on vehicle sales and aftermarket demand. Due to OEM production reductions and declining aftermarket sales, the decline in automotive activity resulted in a decline in the demand for automotive hoses. Additionally, the situation was further worsened by supply chain disruptions, which included raw material shortages and logistical difficulties, delaying the manufacture and delivery of automotive hoses.

The Stainless Steel Type segment is expected to be the largest during the forecast period

In the market for automobile hoses, stainless steel hoses usually command the largest share. Because of their strength, resistance to corrosion, and tolerance for high temperatures and pressures, stainless steel hoses are preferred for use in a variety of automotive applications, such as fuel, brake, and exhaust systems. These hoses are the best options for harsh automotive environments because they perform better and last longer than conventional rubber or copper hoses. Moreover, stainless steel hoses are also becoming more common in newer cars with cutting-edge engines and strict emissions regulations, which is contributing to their market dominance.

The Passenger Vehicle segment is expected to have the highest CAGR during the forecast period

In the automotive hose market, the passenger vehicle segment usually shows the highest CAGR. Sedans, hatchbacks, SUVs, and crossovers are just a few of the many types of cars that fall under the category of passenger vehicles. Together, they account for a sizable share of the automotive market. Within this market segment, the growth of the automotive hoses market is fueled by the rising demand for passenger vehicles, which is driven by factors like urbanization, rising disposable income, and improving living standards. Additionally, automotive hoses are in constant demand because passenger vehicles need a variety of hoses for basic operations like fuel delivery, brake fluid transfer, and coolant circulation. 

Region with largest share:

When it comes to the automotive hose market, the Asia-Pacific region usually holds the largest share. The dominance of the region can be attributed to factors such as rapid industrialization, urbanization, and the expanding automotive manufacturing sector in nations like South Korea, Japan, China, and India. Some of the biggest automakers in the world, as well as a sizable market for automobiles and aftermarket accessories, are found in Asia-Pacific. Furthermore, the need for car hoses in the area is also fueled by rising infrastructure development expenditures and government programs that support environmentally friendly transportation options.

Region with highest CAGR:

The North American region is anticipated to hold the highest CAGR in the automotive hoses market. The area is distinguished by a developed automotive sector, cutting-edge technology, and a sizable customer base that favors high-performance automobiles. The demand for advanced automotive hoses is driven by factors like safety standards, strict emissions regulations, and the desire for fuel-efficient vehicles. Additionally, the region promotes innovation in automotive hose technology through its emphasis on electric and autonomous vehicles as well as its investments in research and development. The existence of significant automakers, aftermarket suppliers, and a firmly established distribution network also helps to fuel the expansion of the North American automotive hoses market.

Key players in the market

Some of the key players in Automotive Hoses market include General Motors, Hutchinson SA, E. I. du Pont de Nemours and Company, Manuli Hydraulics India Pvt. Ltd, Semperit AG Holding, Continental AG, Tianjin Pengling Rubber Hose Co. Ltd., Eaton Corporation Plc, Toyoda Gosei Co., Ltd, Parker Hannifin Corporation, Codan Rubber Danmark A/S, Goodyear Tire & Rubber Co., Sumitomo Riko Co. Ltd., Trelleborg AB and United Rubber Industries (I) Pvt. Ltd.

Key Developments:

In February 2024, Power management company Eaton Aerospace and the Nanyang Technological University (NTU) in Singapore have signed a three-year research collaboration agreement to develop electric vertical-takeoff-and-landing (eVTOL) solutions. The agreement was signed at the Singapore Airshow.

In October 2023, General Motors and the United Auto Workers union have reached a tentative contract agreement that could end a six-week-old strike against Detroit automakers, a person briefed on the deal. The deal follows the pattern set with Ford last week and Jeep maker Stellantis over the weekend. The deals will last four years and eight months and include 25 per cent general pay raises and cost of living adjustments. Combined they bring the wage increase to over 30 per cent over the life of the contract.
 
In Novemeber 2022, Sumitomo Riko announced a joint development agreement with LanzaTech Global, Inc., a US-based carbon recycling firm known for its expertise in carbon capture and utilization (CCU) technology. Along with Sumitomo Rubber, we will be taking part in this joint development. The three companies will collaborate with LanzaTech on the joint development, aiming to pioneer groundbreaking technologies that enable a circular economy, transforming waste materials, including rubber, resin, urethane, and metal, into valuable resources.

Types Covered:
• Stainless Steel Type
• Copper Type
• Other Types 
 
Vehicle Types Covered:
• Passenger Vehicle
• Heavy Commercial Vehicle (HCVs)
• Light Commercial Vehicle (LCVs)
• Two Wheelers
• Other Vehicle Types 

Material Types Covered:
• Plastic Automotive Hoses
• Metal Automotive Hoses
• Rubber Automotive Hoses
• Other Material Types
 
Applications Covered:
• Coolant Hoses
• Turbo Charger Hoses
• Air Conditioning Hoses
• Windshield Washer Fluid Hoses
• Fuel Hoses
• Brake Hoses
• Other Applications

Sales Channels Covered:
• Aftermarket
• Original Equipment Manufacturer (OEM)
• Other Sales Channels

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances