Automotive Belts and Hoses Market - Growth, Trends, and Forecast (2020 - 2025)

The Automotive Belts and Hoses Market is segmented by Belt Type (Drive Belts and Timing Belts), Hose Type (Fuel Delivery System Hoses, Braking System Hoses, Power Steering System Hoses, Heating and Cooling System Hoses, and Turbocharger Hoses), Vehicle Type (Passenger Cars and Commercial Vehicle), and Geography.

Market Snapshot

Study Period:

2019-2025

Base Year:

2019

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

CAGR:

Greater Than 6.5 %

Major Players:

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Market Overview

The automotive belts and hoses market is expected to register a CAGR of over 6.5%, during the forecast period, 2020 - 2025.

  • The belts and hoses sector is growing, owing to the rise in demand for powertrains and other ancillary components. The stringency of emission control norms of the EPA and CAFE has led to the improvements in exhaust and turbocharger hoses.
  • The intensity of competition in the market is high, due to presence of many regional players.
  • Asia-Pacific continues to capture major share of more than 30% in the global market, followed by Europe and North America. Additionally, companies in the Asia-Pacific are expanding their production capacities to capture the growing the demand in the region during the forecast period.

Scope of the Report

Belts and hoses are responsible for the overall performance of the vehicle. Belts are an integral part of the engine’s powertrain system that transmits power from flywheel to the camshaft. Fuel efficiency is related to belts, as they regulate the valve positioning. Drive belts and timing belts are two categories of belts. Hoses are flexible pipes that allow the transportation of fluids with varying pressures. Brake hoses, power steering hoses, and turbocharger hoses are a few types of hoses. The aforementioned types of belts and hoses have been considered in the scope of the market.

The automotive belts and hoses market has been segmented by belt type, hose type, vehicle type, and geography.

Belt Type
Drive Belt
Timing Belt
Hose Type
Fuel Delivery System Hoses
Braking System Hoses
Power Steering System Hoses
Heating and Cooling System Hoses
Turbocharger Hoses
Vehicle Type
Passenger Car
Commercial Vehicle
Geography
North America
United States
Canada
Rest of North America
Europe
Germany
United Kingdom
France
Rest of Europe
Asia-Pacific
China
Japan
India
Rest of Asia-Pacific
Rest of the World
Brazil
South Africa
Other Countries

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Key Market Trends

The Automotive Market to Witness Demand for High-performance Hoses

Owing to the increasing demand for vehicle fuel efficiency, the adoption of turbocharger has increased significantly. Demand for hoses around the turbocharger system have been predominantly deployed to handle the temperatures of the exhaust gases.

Additionally, the adoption of electrically assisted power steering has also influenced the market for power steering hoses.  

The EPA and the National Highway Traffic Safety Administration have been taking coordinated steps to enable the production of a new generation of clean vehicles, through reduced greenhouse gas (GHG) emissions and improved fuel use from on-road vehicles and engines. Thus, the use of blended fuels in fuel delivery system increased the usage of hoses extensively.

To meet the above desired characteristics of the vehicle systems, the demand for high-performance hoses for automotive applications has been noticed over the past three years (2016-2018). Therefore, hose manufacturers have started investing to produce high-performance hoses to capture growing demand from the automotive market.

For instance: In March 2018, Evonik Industries AG (Evonik) announced that it may boost the production of high-performance polymer polyamide 12 (PA 12) used in products, like automotive fuel hoses. The company may invest EUR 400 million in its major plant in North Rhine-Westphalia, Germany and add facilities to the plant to manufacture the polymer and its precursors. The new facilities are expected to begin operations in early 2021, and it is anticipated that the company's global PA 12 capacity may increase by more than 50%.

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Asia-Pacific Continues to Capture the Major Market Share

The growing automobile sector in the Asia-Pacific region, with India and China emerging as automotive part manufacture hubs for the western automobile giants, is expected to drive the market for belts and hoses in this region.

Additionally, with growing sales of hybrid and electric vehicles in the region, the demand for high-performance and lightweight belts and hoses (primarily made of polymer) is likely to grow with the production of electric vehicles during the forecast period.

Thus, to capture the growing demand in the market, companies in the region have started extending their production capacities.

For instance: In August 2018, Nichirin Co. Ltd (Nichirin) constructed a new plant for the manufacturing of automobile and motorcycle hoses in Jiangsu Province, China together with a Chinese joint venture partner, Shanghai Beicai Industry Co. Ltd. The company also plans to extend its production operation in Indonesia and Vietnam to capture the growing demand from the Asia-Pacific automotive market.  

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Competitive Landscape

The automotive belts and hoses market is highly fragmented, due to presence of many regional players. However, some of the major players, like Sumitomo Riko Co Ltd, ACDelco (General Motors), Goodyear Tire & Rubber Co, TOYODA GOSEI CO., LTD., Continental AG, etc., have captured significant shares in the market.

With the growing trend of lightweight and fuel efficient vehicles, companies have started investing to produce more advanced materials for belts and hoses to meet the growing standards of the automotive industry.

Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Belt Type

      1. 5.1.1 Drive Belt

      2. 5.1.2 Timing Belt

    2. 5.2 Hose Type

      1. 5.2.1 Fuel Delivery System Hoses

      2. 5.2.2 Braking System Hoses

      3. 5.2.3 Power Steering System Hoses

      4. 5.2.4 Heating and Cooling System Hoses

      5. 5.2.5 Turbocharger Hoses

    3. 5.3 Vehicle Type

      1. 5.3.1 Passenger Car

      2. 5.3.2 Commercial Vehicle

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Rest of North America

      2. 5.4.2 Europe

        1. 5.4.2.1 Germany

        2. 5.4.2.2 United Kingdom

        3. 5.4.2.3 France

        4. 5.4.2.4 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Japan

        3. 5.4.3.3 India

        4. 5.4.3.4 Rest of Asia-Pacific

      4. 5.4.4 Rest of the World

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 South Africa

        3. 5.4.4.3 Other Countries

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 Sumitomo Riko Co Ltd

      2. 6.2.2 ACDelco (General Motors)

      3. 6.2.3 TOYODA GOSEI CO., LTD.

      4. 6.2.4 Continental AG

      5. 6.2.5 Goodyear Tire & Rubber Co

      6. 6.2.6 Dayco IP Holdings, LLC

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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