Automotive Rubber Hose Market Size, Share, Growth and Industry Analysis by Type (Neoprene Automotive Hose, Ethylene Propylene Automotive Hose, And, Others) By Application (Automobile, Steamship, Motorcycle, And, Others), Regional Forecast To 2031

Updated On: 08 April 2024

Automotive Rubber Hose Market REPORT OVERVIEW

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The global automotive rubber hose market size was 17738.88 million in 2021 and is projected to touch 41075.97 million by 2031, exhibiting a CAGR of 8.76% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over

Automotive rubber hose makes a very important part of a vehicles’ cooling as well as heating systems. These are made up of materials like rubber which are highly durable and exhibit high flexibility. They have the ability to tolerate high temperature as well as pressure. These are installed to ensure the longevity of a vehicle.

Lightweight and high-quality rubber hoses are in high demand in the market. Usage of such automotive rubber hoses can help in increasing the fuel-efficiency of the vehicles. All of these factors are prone to bring vast growth and development to the automotive rubber hose market share.

COVID-19 Impact: Reduction in Demand for Electric Vehicles During Pandemic Decreased Market Growth

The pandemic of COVID-19 posed major challenges to all the industries in the form of disruption is supply of logistics, raw materials, and shortage of skilled workforce. All the markets suffered from low demand due to change in customer preference. The entire global economy was in a turmoil.

All the production facilities were shutdown, due to social distancing norms, travel bans, and, lockdowns. A major factor that led to the downfall of the market during the pandemic was the reduction in the demand for new vehicles. Automotive rubber hoses are used mainly in vehicles. As a result, the market suffered from low demand during the pandemic.

LATEST TRENDS

"Increasing Demand for Lightweight Rubber Hose to Increase Market Growth"

Several trends are shaping the future of rubber hose market. One such noticeable trend is the increasing demand for eco-friendly and lightweight rubber hoses. Hybrid and electric vehicles usually prefer using rubber hoses that are not heavy. When the automotive rubber hose is lightweight it also decreases the overall weight of the vehicle.

This in turn increases the fuel efficiency of the automotive. Manufacturers are making use of rubber materials that are of high quality to produce automotive hose. This makes the hose less susceptible to wear and tear increasing their lifespan. Smart technology is getting integrated to increase their efficiency as well. Sensors are incorporated to monitor the performance of the vehicle. All of these are considered as the latest trends in the market.

Automotive Rubber Hose Market SEGMENTATION

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• By Type:

The market can be divided on the basis of type into the following segments:

Neoprene automotive hose, ethylene propylene automotive hose, and, others. The neoprene segment is anticipated to dominate the market during the forecast period.

• By Application:

Classification based on application into the following segment:

Automobile, steamship, motorcycle, and, others. The automobile segment is predicted to dominate the market during the research period.

DRIVING FACTORS

"Growing Need for Durable and Strong Rubber hoses to Accelerate Market Growth"

Several factors are having a significant impact on the market growth and development. Increasing demand for automotive worldwide has accelerated the demand for rubber hoses that are durable. Under certain circumstances, the vehicles may have to undergo high temperature or sharp fluctuations in their pressure. Installing rubber hose can be of great help to control the fluctuation of temperature as well as pressure.

An important development that is being integrated into this equipment is self-healing capabilities. Several rules and regulations are being imposed by government authorities regarding the carbon emission given out by vehicles. Implementation of these rubber hoses will reduce the emission of pollutants into the nature. All of these factors are having a positive impact on the growth and development of the market.

"Rapid Development of Vehicle Market in Developing Economies to Propel Market Growth "

Post pandemic the number of job opportunities have increased considerably. Growing employment rates has helped in changing the lifestyle of people all over the world. Increasing disposable income of people has increased their standard of living. This is influencing many people to buy vehicles. As a result, this has led to the expansion of vehicle market in most of the developing economies.

Growth of automotive market has increased the manufacturing and sales activity of rubber hose market. Apart from this, automotive rubber hoses can effectively monitor the performance of the vehicle they are installed in. Many new kinds of materials are being used in the manufacturing of these hoses. Some of them include silicone, and Fluro elastomers. Implementation of new technology into the market has helped in propelling the automotive rubber hose market share.

RESTRAINING FACTOR

"Volatility in Price of Raw Materials to Bring Down Market Growth"

Despite, the many advantages provided by these equipment’s, there are certain factors that can limit the growth of the market. One such factor is the volatility in the price of raw materials which are required for the manufacturing of rubber hoses. In certain situations, raw materials such as silicone, and rubber are not available readily. The price of these materials keeps changing posing a very big challenge for the manufacturers.

Presence of better alternatives for rubber and silicone can further deteriorate the demand for the product. Lightweight materials like plastic and aluminum are being preferred by manufacturers as they can help in producing products that are much lighter compared to rubber. All of these factors can have a negative impact on the growth and development of the market.   

Automotive Rubber Hose Market Regional Insights

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"Asia Pacific to Dominate Market in Upcoming Years"

Asia Pacific is predicted to dominate the market during the research period. This growth and development of the market can be attributed to several factors such as the establishment of automobile companies in this region. Asia Pacific has many key players in the market.

Two of the most important countries that are contributing for the growth of the market in Asia Pacific include Japan, India, and, China. Many new developments have presented many lucrative growth opportunities for the market. Government rules, and regulations, usage of good quality materials, and tremendous growth of the vehicle market in the past few decades has contributed in the development of the market in Asia Pacific. 

Key Industry Players

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

List of Market Players Profiled

• DTR Industries, Inc. (USA)
• Continental AG (Germany)
• Codan Rubber Danmark A/S (Denmark)
• Manuli (Italy)
• Hwaseung (South Korea)
• Toyoda Gosei Co., Ltd. (Japan)
• Tianjin Peng Ling (China)
• Parker Hannifin Corporation (USA)
• ZhongGuan (China)
• RAM (Spain)
• Gates Corporation (USA)
• Sichuan ChuanHuan (China)

Report Coverage

The report provides an insight into the industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations