Automotive Rubber Hoses Market | Increasing Penetration of Innovative Production Technology to Boost Market Growth | Technavio
The global automotive rubber hoses market size is poised to grow by USD 312.49 million during 2020-2024, progressing at a CAGR of over 1% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
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Technavio has announced its latest market research report titled Global Automotive Rubber Hoses Market 2020-2024 (Graphic: Business Wire)
The automotive rubber hoses market is expected to be driven by the rising sales of passenger cars and commercial vehicles. This rise is due to the rapid urbanization and increasing spending power of middle-income groups. This growth is also encouraging the automotive manufacturers to expand their vehicle production facilities in emerging economies such as China, India, Brazil, and Mexico. This will result in a decrease in the overall cost of vehicle production, making the vehicles more affordable. Thus, in turn will boost the demand for rubber hoses for cars, thus leading to market growth.
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Report Highlights:
- The major automotive rubber hoses market growth had come from the passenger car segment in 2019, which is due to the increasing spending power of people.
- The APAC region will see a rise in the automotive rubber hoses market, and the region will offer several growth opportunities to market vendors during the forecast period. This is attributed to the increasing spending power, development of low-cost production, and the growing preference for freight rail services in emerging countries.
- The global automotive rubber hoses market is fragmented. Belmont Rubber Pvt. Ltd., Codan Rubber AS, Continental AG, DuPont de Nemours Inc., Eaton Corp. Plc, Hutchinson SA, KraussMaffei Technologies GmbH, NICHIRIN Co. Ltd., Sumitomo Riko Co. Ltd., and Toyoda Gosei Co. Ltd. To help clients improve their market position, this automotive rubber hoses market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the automotive rubber hoses market 2020-2024 is expected to witness negative growth. As the pandemic spreads in some regions and plateaus in other regions, we continue to revaluate the impact on businesses and update our report forecasts.
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New developments in Vacuum Tubes will be a key market trend.
The development of high-performance vacuum tubes is turning out to be a major trend in the global automotive rubber hoses market. These vacuum tubes help automotive manufacturers to reduce the overall weight of the vehicle, thus increasing efficiency. Automotive manufacturers are investing time and effort in developing innovative vacuum tubes, and there are some success stories. For instance, Cooper Standard has already launched vacuum tubes that reduce the weight of rubber hoses by 50%. The rubber tubing takes 30% less space and requires very little maintenance. Therefore, such significant advances in the development of the vacuum tube are anticipated to boost market growth over the forecast period.
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Automotive Rubber Hoses Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist automotive rubber hoses market growth during the next five years
- Estimation of the automotive rubber hoses market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the automotive rubber hoses market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of automotive rubber hoses market vendors
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Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Application
- Market segments
- Comparison by Application
- Passenger cars - Market size and forecast 2019-2024
- Commercial vehicles - Market size and forecast 2019-2024
- Market opportunity by Application
Customer landscape
- Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Belmont Rubber Pvt. Ltd.
- Codan Rubber AS
- Continental AG
- DuPont de Nemours Inc.
- Eaton Corp. Plc
- Hutchinson SA
- KraussMaffei Technologies GmbH
- NICHIRIN Co. Ltd.
- Sumitomo Riko Co.Ltd.
- Toyoda Gosei Co. Ltd.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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View source version on businesswire.com: https://www.businesswire.com/news/home/20201016005309/en/
