Automotive Hose Turbocharger Market Size, Share, Growth, and Industry Analysis, By Type (Extruded Charge Air Hoses, Suction Blow Moulded Plastic Hoses, Wrapped Charge Air Hoses, and Others), By Application (OEM Parts, Aftermarket Parts, and Others) Regional Forecast From 2023 To 2030

Updated On: 08 April 2024

AUTOMOTIVE HOSE TURBOCHARGER MARKET REPORT OVERVIEW

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The global automotive hose turbocharger market size was USD 2.230 billion in 2021. The global COVID-19 pandemic has been unprecedented and staggering, with automotive hose turbocharger market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. As per our research, the market is expected to reach USD 3.606 billion in 2028, exhibiting a CAGR of 8.34% during the forecast period. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

An internal combustion engine's efficiency and power output are increased by a turbocharger, a turbine-driven forced induction device, by forcing more air into the combustion chamber. The smaller displacement of turbocharged engines compared to their naturally aspirated counterparts enables better fuel economy and greater design freedom for developing even more potent engines for cars and trucks.

Rubber and plastic are used to make extruded charge air hoses. They are made to withstand air that is hot and greasy without degrading. Typically used for passenger cars, light commercial vehicles, and heavy commercial vehicles, suction blow moulded plastic hoses are a type of automobile hose that uses the suction blow moulding method to create rubber extruded charge air hoses. An enclosed charge air hose for turbochargers incorporates textile braid reinforcement to prevent crushing, kinking, and collapse.

COVID-19 Impact: Economic Imbalance Causes Market Distortion

The Automotive hose turbocharger market was among those affected by the economic crisis during COVID-19. Government officials ordered a nationwide lockdown to stop the corona virus sickness from spreading, which seriously disrupted the flow of raw materials, labour, and manufacturing cycles. One of the main causes of the reduction in demand for the product is the pandemic's restrictions on the tourism industry. People fear travelling even after the constraints have been removed because of the corona virus sickness. This is a significant component lowering the market's demand.  In addition, the outbreak has a negative impact on the business operations of the enterprises, which affects the market as a whole. The industry has been somewhat impacted by this.

LATEST TRENDS

"Rising Demand For Turbocharged Commercial Vehicles to Boost the Market Growth"

According to vehicle type, large commercial vehicles are anticipated to represent a sizeable portion of the market. This can be linked to the rise in long-distance transportation using these types of vehicles, which has led to a high replacement rate for large commercial vehicles. As a result, the market for automotive hose turbocharger is expanding. Thus, a key trend that is opening up potential for the industry to grow is the rising demand for turbocharged commercial vehicle. These new developments are mostly to blame for the market's overall growth.

AUTOMOTIVE HOSE TURBOCHARGER MARKET SEGMENTATION

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• By Type

Based on type, the market is classified into Extruded charge air hoses, Suction blow moulded plastic hoses, Wrapped charge air hoses and others.

• By Application

Based on application, the market is categorised into OEM Parts, Aftermarket Parts and others.

DRIVING FACTORS

"Increasing Adoption of Automotive Technologies that Gives the Market Extra boost "

The main factors propelling the expansion of the worldwide automotive turbocharger hose market are the rising level of automotive technology and the rising production of heavy and light commercial vehicles. The market is also expanding as a result of the population expansion, rising disposable income, and rising demand for car maintenance and repair services. The government's strict measures to reduce vehicle emissions will help the market during the course of the projection period. Therefore, the market growth will be accelerated by the increased emphasis on reducing emissions and improving fuel efficiency. Additionally, rising car manufacturing in places like Asia Pacific and elsewhere is anticipated to further boost market expansion in the years to come. As a result, industry growth will be aided during the forecast period by the growing dependence on products. As a result, the growth, and the increasing automotive technologies will boost the market. It will contribute to the expansion of the automotive industry and it will improve the overall Automotive hose turbocharger market growth.

"Increasing Usage of The Product By Automotive Manufacturers to Encourage Market Expansion"

The need for automotive hose turbocharger vehicles is increasing as a result of many automotive manufacturers using turbochargers to deliver improved fuel efficiency. Automobile manufacturers may now offer greater safety and better performance at high altitudes thanks to turbochargers. The introduction of new Turbochargers that are combined with electrified technologies is the main emphasis of auto manufacturers, which helps drive market expansion. In order to further concentrate on integrating Turbocharger hoses into the car, a new e-turbo Turbocharger for passenger vehicles was launched. As a result, these factors are collectively promoting market expansion, increasing company revenues. As a result, the increasing usage of the product by automotive manufacturers will help the market to boost.

RESTRAINING FACTORS

"Increasing demand for electric vehicles to Impede Market Expansion"

Industry obstacles, such as the sharp rise in demand for electric vehicles worldwide, are impeding industry expansion. Following a number of global moves by governments to lessen their reliance on fossil fuels, the usage of electric vehicles grew. Governmental initiatives that offered incentives for using zero-emission vehicles increased the adoption of electric vehicles, which had an influence on gasoline and diesel automobiles. The market for ICE automotive hose is expected to be constrained by a decline in ICE automobile demand. This poses a significant obstacle to market growth during the projection period. This may be a significant issue limiting market expansion. If this problem is fixed, the market will start to grow right away.

AUTOMOTIVE HOSE TURBOCHARGER MARKET REGIONAL INSIGHTS

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"North America Dominating the Market Across the Globe"

The U.S. market for automotive hose turbochargers has profited from the area's growing industrial growth, and a number of motivating factors have expanded the potential sectors given that this region is the main product consumer. The rising demand for products in OEM Parts is the main factor propelling the rise of the automotive hose turbocharger market share. One of the key factors influencing the market is the aftermarket parts sector. Rapid urbanization trends will further strengthen the market as a whole.

KEY INDUSTRY PLAYERS

"Leading Manufacturers to Boost Product Demand"

Data about market participants and their relative positions within the industry are included in the analysis. Data is being gathered and made available through proper research, mergers, technical advancement, growing production facilities, and cooperation. The study on materials contains data on manufacturers, regions, types, applications, sales channels, distributors, traders, dealers, research findings, and more.

List of Market Players Profiled

• Hutchinson (France)
• Toyoda Gosei (Japan)
• Ningbo Fengmao (China)
• Flexfab (U.S.)
• Silflex (U.K.)
• Gates Corporation (U.S.)
• Marugo Rubber (Indonesia)

REPORT COVERAGE

The study goes into great detail about market segmentation by type and application. The study examines a broad range of participants, including existing and potential market leaders. A considerable market expansion is anticipated as a result of several important factors. In order to provide market insights, the research additionally analyses elements that are probably to boost automotive hose turbocharger market share. The report makes forecasts for market expansion during the projected time period. The objective of the regional study is to explain why one region dominates the worldwide market. There are a lot of issues that have all been carefully considered that prevent the industry from growing. The research also contains a market strategic analysis. It includes thorough market information.