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The overall size and growth of the global automotive industry play a significant role in the demand for vehicle exhaust hoses. As the number of vehicles produced and sold increases worldwide, the demand for replacement parts, including exhaust hoses, also grows. The growth of the global vehicle fleet and the need for maintenance and repair contribute to the demand for exhaust hoses. As vehicles age, there is a requirement for repairs and replacement of parts, including exhaust hoses. Also, consumer preferences and market trends can influence the demand for vehicle exhaust hoses. For instance, the increasing popularity of electric and hybrid vehicles may impact the demand for traditional exhaust hoses but create opportunities for specialized components related to emissions control or cooling systems.
The global market is expected to experience moderate growth over the coming years. This growth is driven by several factors, such as increasing vehicle production, growing demand for electric vehicles, increasing need for advanced exhaust systems to comply with emission regulations, and stringent emission regulations.
COVID-19 significantly impacted the global automotive sector, affecting the exhaust hose market and the worldwide disruption of the supply chain and manufacturing processes, leading to changes in demand and pricing. During the initial phase of the pandemic, many countries implemented lockdowns and travel restrictions, which led to a significant decrease in automotive production and sales. This has directly impacted the vehicle exhaust hose market.
Post covid has led to a shift in consumer behavior, which led to an increase in the purchase of passenger and commercial vehicles. This has led to an increase in the demand for automobiles. Overall, the impact of Covid-19 on the vehicle exhaust market has been mixed, with both negative and positive effects. The market will likely continue to face short-term challenges related to supply chain disruptions but will see growth in the long term as the demand for vehicles increases.
The report will cover the following key insights:
By Vehicles | By Build | By Type | By Sales | By Region |
•Passenger Vehicle •Light Commercial Vehicle •Heavy Commercial Vehicle | •Single Layer •Double Layer •Triple Layer | •ACT Hoses •FlareLok Hoses •High-Temperature Hoses •Others | •OEM •Aftermarket | •North America (U.S., Canada, Mexico) •Europe (U.K., Germany, France, Rest of Europe) •Asia Pacific (China, Japan, India, South Korea, Rest of Asia Pacific) •Rest of the World (Latin America, the Middle East & Africa |
The vehicle type segment includes passenger vehicles and light commercial vehicles. And heavy commercial vehicles. Several factors, including the number of passenger vehicles on the road, the age of those vehicles, and changes in emissions standards, drive the demand for passenger vehicles’ exhaust hoses. The change in emission standards also impacted the demand for passenger vehicle exhaust hoses. As emission standards became more stringent, manufacturers were required to develop new and improved exhaust systems that required high-quality exhaust hoses. This can lead to increased demand for exhaust hoses, particularly those made from advanced materials that can withstand high temperatures and corrosive chemicals.
The sales channel segment includes OEM and Aftermarket. The Aftermarket channel is expected to grow as installing these hoses is relatively cheaper. As the number of vehicles on the road increases and older vehicles remain in use, there is a continual demand for replacement parts. The aftermarket for exhaust hoses benefits from the need to replace worn-out or damaged components. Aftermarket hose manufacturers' in-house production and standardization help in added revenue for producing these and its compatibility with Job shops and manufacturing plants. The aftermarket is expected to continue growth during the forecast period.
The Asia Pacific region has experienced rapid automotive production and sales growth, driven by an increasing population, rising disposable incomes, and urbanization. This growth in the automotive sector contributes to the demand for various automotive components, including exhaust hoses. The highest growth rate is expected in the Asia Pacific market, especially India and China, owing to the presence of key auto manufacturers here and after-sales support. These after-sales support require repair and overhaul shops with exhaust hoses. This will have a rising impact on sales of hoses in Asia. Rapid and safe installation and affordability of them boost regional growth.
Tenneco Inc. (US), Sankei Giken Kogyo Co., Ltd. (JPN), Toyoda Gosei Co., ltd. (JPN), Eaton Corporation (IRL), Nichirin Co., Ltd. (JPN), Eberspacher Exhaust Technology GmbH (DEU), Anhui Zhongding Sealing Parts Co., Ltd. (CHN), Senior Flexonics Inc. (U.S.), William Johnston & Company Limited (U.K.).
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