Global Automotive Brake Hoses and Lines Market 2019-2023
About Automotive Brake Hoses and Lines
Automotive brake hoses and linings are an integral part/component of a vehicle’s braking system. Automotive brake hose is used to transfer brake fluid from the master cylinder (tandem) or reservoir to the brake caliper thus, enabling the contact of brake pads with brake rotors.
Technavio’s analysts forecast the global automotive brake hoses and lines market to generate a revenue of USD 18 billion during the period 2019-2023.
Covered in this report
The report covers the present scenario and the growth prospects of the global automotive brake hoses and lines market for 2019-2023. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Automotive Brake Hoses and Lines Market 2019-2023
Technavio recognizes the following companies as the key players in the global automotive brake hoses and lines market: Bosch, Continental, Delphi Technologies, and Hitachi.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increase in production of passenger and commercial vehicles. The global automotive market is estimated to grow in terms of production volume during the last couple of years. Brake hose being a standard part of the fitment in conventional braking systems. the growth in production volume of automobiles in the global market is fueling the global automotive brake hose market.”
According to the report, one driver in the market is automotive brake hoses or lines are affordable with minimal recurring cost. Automotive brake hoses or lines form an integral part of the conventional automotive braking system. A brake hose is affordable and readily available in the commercial market at minimal replacement cost. These are major factors driving the growth of the global automotive brake hose market.
Further, the report states that one challenge in the market is constant wear and tear reduces product life cycle. Automotive brake hoses and lines improve the performance of the braking system by enhancing the braking effectiveness. However, factors such as wear and tear of interior lines of brake hose and the outer layer due to harsh driving conditions may result in rapid degradation of brake hose. This issue is more concerning as day-to-day city traffic is increasing.
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