Global Automotive Rubber Hoses Market 2017-2021
About Automotive Rubber Hoses
An average automotive uses different variety of hoses and pipes within the engine. Each hose and pipe is a crucial component that ensures proper functioning of the engine component. A defective hose can cause issues like engine overheating, coolant loss, fuel supply disruption, and lead to increase in vehicle downtime. Automotive pipes function like automotive hoses. However, they are used for transferring volatile and high temperature liquids and gases, from the engine after combustion to the exhaust system.
Technavio’s analysts forecast the global automotive rubber hoses market to grow at a CAGR of 5.08% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global automotive rubber hoses market for 2017-2021. 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 Rubber Hoses Market 2017-2021
Technavio recognizes the following companies as the key players in the global automotive rubber hoses market: Eaton, Hutchinson, Nichirin, Sumitomo Riko, and TOYODA GOSEI.
Other Prominent Vendors in the market are: Belmont Rubber, Codan Rubber, Continental, DuPont, KraussMeffei Berstorff, Ningbo Fengmao Far-East Rubber, Shanghai Shangxiang Automotive Hoses, Shore Auto Rubber Exports, and Viad Elastomer Processors.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increased R&D into lightweight and durable automotive rubber hoses. OEMs of automotive parts are increasingly focusing on reducing the size and weight of automotive components to fit in downsized engines. Vehicle manufacturers are minimizing the weight of every automotive part for collectively arriving at a reduced vehicle weight.”
According to the report, one driver in the market is rising sales of LPG and CNG vehicles to induce demand for specifically built automotive rubber hoses. Rising dissidence toward diesel vehicles due to their highly polluting nature and increasing stringency of emission regulations against vehicles operating on petroleum-based fuels are driving vehicle manufacturers to develop vehicles operating on alternative fuels, such as liquified petroleum gas (LPG) and compressed natural gas (CNG). Compared to diesel or gasoline vehicles, LPG and CNG vehicles will have modified engines that will require different types of internal parts. Hence, rising sales of LPG and CNG vehicles would increase demand for specifically engineered automotive rubber hoses.
Further, the report states that one challenge in the market is fluctuation in prices of natural rubber. Fluctuating prices of rubber increase uncertainty of prices of rubber-based products, such as automotive rubber hoses. Uncertainty regarding prices of automotive components will cause vehicle manufacturers to move toward automotive hoses made from alternate components with stable pricing. Production of rubber has reduced from 17% in 2015 to 13% in 2016 to induce demand for natural rubber in the global market. Areas of untapped rubber plantations increased by 30%, in 2016, as farmers are waiting for prices of natural rubber to rise during the forecast period.
Eaton, Hutchinson, Nichirin, Sumitomo Riko, TOYODA GOSEI, Belmont Rubber, Codan Rubber, Continental, DuPont, KraussMeffei Berstorff, Ningbo Fengmao Far-East Rubber, Shanghai Shangxiang Automotive Hoses, Shore Auto Rubber Exports, and Viad Elastomer Processors.