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Automotive Engine Belt & Hose Market by Belt Type, Hose Application, Vehicle Type, and by Region - Global Forecast & Analysis to 2020

Automotive Engine Belt & Hose Market: Global Forecast & Analysis until 2020

  • September 2015
  • 184 pages
  • ID: 3312693
In this report:
The automotive drive belt market is expected to grow at a CAGR of ##.##%, with its volume increasing from an estimated ##.## million units in 2015 to about ##.## million units by 2020, owing to a global increase in vehicle production.
The overall automotive belt and hose market is expected to grow at a CAGR of ##.##%, with its volume increasing from an estimated ##,##.## million units in 2015 to about ##,##.## million units by 2020.

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The overall market for automotive belts & hoses is forecasted to grow at CAGRs of ~6.1 percent and ~6.8 percent respectively between 2015 and 2022. The industry for automotive belts & hoses is primarily propelled by growing vehicle production, rising adoption of turbochargers in the vehicles, stringent fuel emission norms and regulations, and the increasing demand for fuel efficient technologies. Nevertheless, shifting focus towards electric vehicles has been identified as a restraint for the sector.

Belts used in automobiles perform a critical function of synchronizing the camshafts and crankshaft to regulate valve openings. Belts also power accessories including the water pump, steering pump and compressor among others. Modern automobiles utilize a single serpentine belt to power these accessories as distinguished to multiple belts for these applications, which were used in older engines. This reduces the space required for the engine and reduces multiple maintenance requirements. Some vehicles also use a timing belt to synchronize the camshaft and crankshaft. Hoses are used in automobiles for fluid transmission in different applications including cooling, heating, power steering and braking among others. Hose suppliers have to account for the varying fuel blends, coolants and brake fluids while selecting raw materials, to enhance resistance against corrosion. Material selection for these hoses also depends on the nature of application as pressure requirements differ for each component.

The Asia-Oceania area is forecasted to be the biggest market in terms of value importance for automotive belt & hose in 2015 due to the presence of powerhouses including China, India (IN), and Japan (JP). Big population, growing infrastructure and technology development in these countries, rise in per capita income, and improving standard of living have all contributed to the rise of the automotive market in the area during the past decade. In 2008, China (CN) surpassed the U.S.A to become the biggest car-producing nation across the world, and has maintained its dominance ever since. China (CN), Japan (JP), South Korea (KR), and India (IN) are the main contributors to the increase of automotive belt & hose market in the Asia-Oceania area. To cater to this huge demand in Oceania/Asia, many OEMs are expanding operations in the territory. The North America (NA) industry, after a brief depression in 2008, has emerged strong and is increasing. Together with the european (EU) market, the North America (NA) sector is expected to spearhead the automotive sector in terms of technology and advancements.

This industry report classifies and defines the overall automotive belt & hose market size, in terms of capacity and value. Market value in terms of quantity is provided in million units from 2013-2020, because the market value has been provided in terms of. The automotive belt & hose market is leaded by, is monopolized by few overall actors and many regional actors. Few of the main actors contain Continental (CON), Toyoda Gosei Co., Limited, Yokohama Rubber Co., Limited, Sumitomo Riko Co., Limited, and Gates Corporation. Apart from this, the market research also includes qualitative and competitive intelligence concerning the market drivers, market restraints, alternatives, and opportunities prevailing in the automotive belt & hose market.

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