Automotive Hoses Market Share, Size, Trends, Industry Analysis Report, By Vehicle Type (Passenger Vehicle, Heavy Commercial Vehicle, Light Commercial Vehicle, and Two Wheelers); By Material Type; By Application; By Region; Segment Forecast, 2024 – 2032
- Published Date:Mar-2024
- Pages: 118
- Format: PDF
- Report ID: PM4733
- Base Year: 2023
- Historical Data: 2019-2022
Report Outlook
The global automotive hoses market was valued at USD 23.16 billion in 2023 and is expected to grow at a CAGR of 7.8% during the forecast period.
The rapidly increasing demand and sales of vehicles across the world and the surging prevalence of powertrains and many other ancillary components, along with the increase in focus of major product manufacturers towards bringing innovations and advancements into their automotive hoses, are major factors propelling the demand and growth of the market. In addition, with the rising introduction of new and improved automotive hoses with capabilities to extend the life of the vehicle while ensuring that the car runs smoothly in various conditions, the market for automotive hoses worldwide is expected to rise at a significant pace.
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- For instance, according to the Society of Indian Automobile Manufacturers, the total passenger vehicle sales in India have increased from 30,69,523 units to 38,90,114 units in the financial year 2022-23 compared to the previous year. The sales of passenger cars also rose from 14,67,039 units to 17,47,376 units in the same period.
Moreover, researchers from all over the world are increasing their focus towards the exploration of new materials for automotive hoses to enhance their durability, flexibility, and heat resistance, which mainly includes materials like silicone blends, high-performance thermoplastics, and reinforced rubber compounds having the ability to withstand extreme temperatures and pressures, which in turn, likely to have a positive impact on the global market in the near future.
The outbreak of the COVID-19 pandemic has significantly impacted the growth of the automotive hoses market. The rapid spread of the deadly coronavirus across the globe had a negative impact on almost every segment of the automotive industry, including automotive hoses, due to the lockdowns, halted production, and significant disruptions in global supply chains. However, with the return of life to normalcy, the automotive sector has started recovering well and will create huge growth potential over the coming years.
Industry Dynamics
Growth Drivers
- Growing disposable income and rising transportation infrastructure development driving the market growth
The significant rise in consumer disposable income across both developed and developing economies, allowing people to spend higher on products like automobiles, and the continuous surge in the development of transportation infrastructure, mainly in countries like India, China, Indonesia, and Malaysia, is resulting in exponential growth in the automotive sector. Thus, automotive hoses are an important automotive component; their demand is also expected to rise over the years.
- Rising demand and adoption of turbocharges are likely to boost demand for the market.
The drastic increase in the demand and popularity of turbocharges, especially among commercial vehicle manufacturers, because of its wide range of advantageous features, including better power output, improved fuel efficiency, and enhanced engine performance, are further anticipated to drive market growth, as turbochargers are among the leading applications of automotive hoses.
Report Segmentation
The market is primarily segmented based on vehicle type, material type, application, and region.
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By Vehicle Type |
By Material Type |
By Application |
By Region |
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By Vehicle Type Analysis
- Passenger vehicles segment accounted for the largest market share in 2023
The passenger vehicles segment accounted for the largest market share both in terms of volume and revenue in 2023, and is likely to retain its market position throughout the study period. The growth of the segment market can be largely accelerated by significant growth in the production and sales of passenger vehicles around the world and growing consumer demand for comfortable, reliable, and technologically advanced vehicles, which influences automobile manufacturers to use high-quality hoses equipped with features like advanced heating and cooling systems, infotainment, and advanced driver assistance systems.
- For instance, according to the China Association of Automobile Manufacturers, the total production of passenger vehicles in China was around 11.281 million units year-to-date in 2023, with an increase of 8.1% from the last year.
By Material Type Analysis
- The metal automotive hoses segment held a significant market share in 2023
The metal automotive hoses segment held the majority market share in 2023, which is mainly driven by its various beneficial characteristics, including higher durability and strength, pressure resistance, chemical compatibility, longevity & maintenance costs, and various high-temperature applications along with the ability to efficiently optimize fluid flow and heat dissipation, that results in improved overall performance of vehicles.
Besides this, as emission standards across the world are constantly becoming stringent, automobile manufacturers are required to ensure that all the components they are using in their vehicles comply with environmental regulations. Thereby the adoption of metal automotive hoses has surged drastically as they play a crucial role in maintaining emission control systems and can withstand high temperatures.
By Application Analysis
- The turbocharger hoses segment is expected to witness the highest growth.
The turbocharger hoses segment is expected to grow at the fastest CAGR over the next coming years, mainly due to growing penetration among the automakers for the incorporation of turbochargers into their engines in order to achieve higher power output while maintaining fuel efficiency and the rising popularity of smaller turbocharged engines due to their ability to provide better fuel economy and improved performance.
The coolant hoses segment led the industry market with substantial revenue share in 2023, which is largely attributed to its widespread use in engines to circulant coolant and also to transport the hot coolant away from the engine to the radiator. Some coolant hoses also contain integrated coolant temperature sensors, which provide real-time temperature data to the vehicle's engine control module, and allow the ECM to easily adjust engine performance and emissions based on the temperature conditions.
Regional Insights
- Europe region dominated the global market in 2023
Europe held the largest share. The regional market growth can be mainly attributable to a significant increase in vehicle production and sales in countries like Germany, France, and the United Kingdom and the surging focus of European regulations and consumers towards greater fuel efficiency in vehicles coupled with the growing investments in material science, that led to the development of more durable and flexible hose materials.
The Asia Pacific region is anticipated to emerge as the fastest growing region with significant CAGR over the forecast period on account of the constantly rising automobile sector, the emergence of various APAC nations as automobile manufacturing hubs, and the surging prevalence of hybrid and electric vehicles across the region.
Key Market Players & Competitive Insights
The automotive hoses market is highly competitive, with the presence of many regional and global players. The top 5 markets operating in the global market include Sumitomo Riko, General Motors, Goodyear Tire & Rubber, Toyoda Gosei, and Continental, and these market players have been largely investing in the production of new advanced materials for hoses and expanding their global market reach.
Some of the major players operating in the global market include:
- Continental AG
- Eaton Corporation Plc
- Gates Corporation
- General Motors
- Goodyear Tire & Rubber Co.
- Hutchinson SA
- Manuli Hydraulics India Pvt. Ltd.
- Semperit AG Holding
- Sumitomo Riko Co. Ltd.
- Tianjin Pengling Rubber Hose Co. Ltd.
- Toyoda Gosei Co. Ltd.
- Trelleborg AB
- United Flexible
- United Rubber Industries Pvt. Ltd.
Recent Developments
- In January 2023, Danfoss Power Solutions, a global leading supplier of mobile and industrial hydraulics, announced the launch of its new range of high-performance hydraulic crimping equipment and tooling. The new range of equipment is mainly designed to help company partners and customers with reliable hose assemblies.
- In May 2022, Alliance Automotive (UK) completed the acquisition of Linings & Hoses. It was an Independent Motor Trade Factors Association member and has a three-branch CV business in Congleton.
Automotive Hoses Market Report Scope
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Report Attributes |
Details |
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Market size value in 2024 |
USD 24.89 billion |
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Revenue Forecast in 2032 |
USD 45.36 billion |
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CAGR |
7.8% from 2024 – 2032 |
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Base year |
2023 |
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Historical data |
2019 – 2022 |
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Forecast period |
2024 – 2032 |
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Quantitative units |
Revenue in USD billion and CAGR from 2024 to 2032 |
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Segments covered |
By Vehicle Type, By Material Type, By Application, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Customization |
Report customization as per your requirements with respect to countries, regions, and segmentation. |
FAQ's
Automotive Hoses Market report covering key segments are vehicle type, material type, application, and region.
Automotive Hoses Market Size Worth $ 45.36 Billion By 2032
The global automotive hoses market is expected to grow at a CAGR of 7.8% during the forecast period.
Europe is leading the global market.
The key driving factors in Automotive Hoses Market are Rising demand and adoption of turbocharges are likely to boost demand for the market.
