This global market research report includes a detailed segmentation of the automotive rubber hoses market by end market (OEM and aftermarket). It also outlines the market shares for key regions such as the Americas, APAC, and EMEA. The top vendors analyzed in this report are Eaton, Hutchison, Nichirin, Sumitomo Riko, and Toyoda Gosei.
Technavio’s market research analysts estimate the global automotive rubber hoses market to grow at a CAGR of 4% between 2016 and 2020. The recent increase in auto sales, especially in the passenger car segment, will boost the growth prospects of this market during the forecast period. APAC is the largest market for automotive rubber hoses, accounting for 53% of the overall market share. The region is one of the largest producers and suppliers of vehicles. Rise in production and exports of automobiles is expected to accelerate the market’s growth in the region during eth forecast period.
The new market research report from Technavio provides a breakdown and analysis of the automotive rubber hoses segments by technology.
“Increase in demand for premium and luxury cars has triggered the demand for automotive rubber hoses. Manufacturers are coming up with specialty hoses, though costly, however are high-performance hoses. Also, the manufacturers have gradually shifted from compression molding to injection molding designs, as the latter minimises the process waste and allows flexibility in seals,” says Siddarth Jaiswal, Lead Analyst, Automotive, Technavio Research.
Technavio market research analysts estimate the OEM segment to exhibit the highest market growth rate during the predicted period. An important factor that incites growth in this segment is the recent rise in demand for LCVs and passenger cars from across the globe.
The key vendors in the global automotive rubber hoses market include Eaton, Hutchison, Nichirin, Sumitomo Riko, and Toyoda Gosei. This market is highly competitive and fragmented due to the presence of numerous players in the OEM as well as aftermarket segment. The vendors in the market compete on the basis of price, quality, innovation, reputation, and distribution to gain a competitive edge over their peers. The high vendor competition in this market has led to an increase in the number of mergers and acquisitions, wherein smaller entities are being acquired by or are being merged with, major players.
A more detailed analysis is available in the Technavio report, Global Automotive Rubber Hoses Market 2016-2020.
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