This is attributed to be the main factor driving the growth of motorcycle and scooters market in the respective regions. Increasing motorcycles sales is also considered to be the key factor for the growth of automotive hoses market.
[USPRwire, Tue Nov 20 2018] Automotive hoses are used for the conveyance of various fluids (gas, water, chemicals) and even solid material from their source to various machines and several other applications. Automotive hoses consist of inner tube with an outer cover bonded with adhesives. Among the different materials, rubber is the most common type of material used in the automotive hoses due to its high resistance towards temperature, pressure and other physical properties.
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Rubber material includes natural rubber, synthetic rubber, and various other composites of rubber. Automotive hoses finds its application in radiators, heater, fuel and emission systems, brake systems, lubrication systems, air conditioning systems etc. Increasing shift towards enhancing the performance and efficiency, with reduced fuel consumption, the demand for efficient, durable and reliable automotive hoses is witnessing significant growth. This in turn is anticipated to contribute to the global automotive hoses market during the forecast period.
Increasing automotive production and vehicle parc is one of the major factors driving the growth of the automotive hoses market. Explosive automotive growth, particularly in some regions, has considerably contributed to the spurring growth of various local and international hoses companies. Several parts and components, such as radiators, brakes, air conditioning, fuel transfer, and other electronics and interior parts, requires hoses in their operations. Therefore, increasing demand for high temperature resistance and chemical resistance hoses in the automotive industry is anticipated to contribute to the global automotive hoses market in the coming years.
High disposable personal income in developed regions such as North America and Europe has led to its consumers venturing more into leisure activities that revolves around conventional motorcycles and scooters such as racing, bike stunts and off-road activities, which in turn, has increased the demand for high engine capacity two wheelers. This is attributed to be the main factor driving the growth of motorcycle and scooters market in the respective regions. Increasing motorcycles sales is also considered to be the key factor for the growth of automotive hoses market.
Growing urbanization in developing countries of Asia and Latin America, rising employment, improvements witnessed in disposable income and a rise in dual income households are the key factors fuelling the demand for automobiles and motorcycles. According to the Federation of Asian Motorcycle (FAMI), in South East Asia (SEA) countries, it is very common to have one or more motorcycle or scooter in a household. This in turn is estimated to fuel the demand of automotive hoses in the region. Large vehicle fleet in developed regions such as North America and Europe is estimated to project noteworthy opportunities for the aftermarket of automotive hoses owing to significant replacement rate of hoses. The popular trend of resale of automobiles in Middle East and Africa may also positively impact the aftermarket for automotive hoses during the forecast period
Automotive Hoses Market: Key Participants
The research report presents a comprehensive assessment of the automotive hoses market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to automotive hoses market segments such as geographies, application, and industry.
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