Automotive Engine Belt & Hose Market Size to Surpass USD 36.18 Billion by 2029, at a 6.69% CAGR from 2022 to 2029

December 07, 2023 07:10 PM AEDT | By EIN Presswire
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LUTON, BEDFORDSHIRE, UNITED KINGDOM, December 7, 2023 / -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Automotive Engine Belt & Hose Analysis Report.

According to a Comprehensive Research Report by Exactitude Consultancy, “Automotive Engine Belt & Hose Market by Belt Type (Timing Belt, Drive Belt), Hose Application (Turbocharger, Cooling/heating, Fuel Delivery, Braking, Steering), Vehicle Type (PC, LCV, HCV), and Region, Global trends and forecast from 2022 to 2029”, The global Automotive Engine Belt & Hose Market is expected to grow at 6.69% CAGR from 2022 to 2029. It is expected to reach above USD 36.18 billion by 2029 from USD 20.2 billion in 2021.

Automotive Engine Belt & Hose report covers extensive analysis of the key market players, along with their expansion plans, business overview, and strategies. The key players studied in the report include: Origin Material, Gates Corporation, Midas International Corporation, Mitsuboshi Belting Ltd. Group, Helicord Transmissions Pvt. Ltd., B&B Manufacturing, The Carlstar Group LLC, Continental AG, Bearings and Power Transmission Solutions, CRP Industries Inc., BG Automotive, Hutchinson Group, Bando Chemical Industries Ltd.

Download Sample PDF Brochure of Automotive Engine Belt & Hose Market:

Note – This Report Sample Includes:

✔ A summary of the research work.

✔ Table of Contents The study’s depth of coverage

✔ Market participants at the forefront

✔ The research framework of the report’s structure

✔ Exactitude Consultancy’ research methodology

Industry Development:

June 2023: Toyoda Gosei Co., Ltd. signed an agreement to jointly develop new technology with Toyota Central R&D Labs., Inc. that reduces the amount of energy used to produce rubber products. The new, energy-saving technology, under joint patent-pending, reduces by half the amount of steam needed during discharge compared with the previous process.

September 2022: The Yokohama Rubber Co., Ltd. announced that it would merge its three core international high-pressure hydraulic hose series under the Versatran*1 brand name in October 2022. The merged rebranding was intended to improve the competitiveness of the hoses in the market.

September 2022: Kongsberg Automotive ASA (KA) announced that the company merged the Couplings business and Fluid Transfer Systems (FTS) units to construct a new ‘Flow Control Systems’ business unit. KA’s FTS business unit provides PTFE hoses and assemblies to various industrial and automotive markets.

June 2022: Continental announced that it invested USD 40 million to expand its hydraulic business in North America. The new facility would deliver additional capacity for diverse hose solutions to support growing needs across North America. Hydraulic products support many key industries, including agriculture, construction, energy management, commercial and off-highway vehicles, and manufacturing.

January 2022: Gates Corporation announced that it expanded its PRO Series hydraulic hose portfolio by launching the new ProV product line. The Gates PRO Series line of professional-grade hydraulic hoses offers performance tailored to hydraulic applications across multiple end-markets such as agriculture, construction, mining, injection molding, general industrial manufacturing equipment, and others.

Some points on how the report benefits stakeholders:

✔ The Automotive Engine Belt & Hose Market reports include historical (2018–2020) and forecast (2022–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.

✔ The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.

✔ Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.

✔ The Automotive Engine Belt & Hose Industry report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.

✔ The report contains company profiles of the top companies operating in the Automotive Engine Belt & Hose market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.

✔ Automotive Engine Belt & Hose Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.

Browse Full Premium Report | Automotive Engine Belt & Hose Market Analysis with Strategic Developments

What are the market factors explained in the report?

Key Strategic Developments: The study includes key strategic developments of the Automotive Engine Belt & Hose, comprising R&D, new product launch, mergers and acquisitions, agreements, partnerships, collaborations, joint ventures, and regional growth of key competitors operating in the market globally and region.

Key Market Features: The report analyzed key market features including price, revenue, capacity, supply/demand, capacity utilization rate, gross production, production rate, market share, consumption, import/export, cost, CAGR and gross margin. Furthermore, the report also offers a comprehensive study of the key Automotive Engine Belt & Hose dynamics and its latest trends, along with relevant market segments and sub-segments.

Analytical Tools: The Global Outsourced Automotive Engine Belt & Hose report includes accurately researched and analyzed data on the key industry players and their scope in the market through various analytical tools. Analytical tools such as Porter's five forces analysis, feasibility study, and ROI analysis have been used to analyze the growth of the key players operating in the market.

Regional Analysis

The Automotive Engine Belt & Hose market by region includes Asia-Pacific (APAC), North America, Europe, South America, and Middle East & Africa (MEA).

North America: includes the US, Canada, Mexico
Asia Pacific: includes China, Japan, South Korea, India, Australia, ASEAN and Rest of APAC
Europe: includes UK, Germany, France, Italy, Spain, Russia, and Rest of Europe
South America: includes Brazil, Argentina and Rest of South America
Middle East & Africa: includes Turkey, UAE, Saudi Arabia, South Africa, and the Rest of MEA

With a market share of USD 13.75 billion in automotive engine belts and hoses in 2022, Asia Pacific dominated the industry. Throughout the projection period, the region is expected to maintain its dominance and display the fastest CAGR. The region's market expansion is being aided by the robust auto industries found in emerging economies like China, India, Japan, and others. Additionally, the region's need for engine belts and hoses is fueled by the high sales of automobiles.

Europe has the second-largest share because it is the second-largest global hub for electronic component manufacturing and an early adopter of new trends in automotive engine belts and hoses. Furthermore, automakers are being pressured to use premium belts and hoses to ensure their cars run efficiently and meet emission regulations due to growing environmental concerns and strict automotive emission standards in European economies. This element is causing the regional expansion to spread even more.

Modern automakers are in high demand for automotive engine belts and hoses due to the growing number of people in North America using personal vehicles.

Frequently Asked Questions

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