Automotive Hoses Market Analysis | 2024-2030

Market Insights

The automotive hoses market was estimated at USD 14.9 billion in 2023 and is likely to grow at a strong CAGR of 5.5% during 2024-2030 to reach USD 21.8 billion in 2030.

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Market Dynamics

Introduction

Automotive hoses are critical parts of a vehicle's fluid conveyance system. They are designed to transport fluids, gases, and air to various parts of the vehicle, ensuring its smooth and efficient operation. These hoses are used in multiple systems within a vehicle, including the engine cooling system, fuel lines, air conditioning system, power steering system, etc. The critical importance of automotive hoses lies in their contribution to vehicular safety and functionality. They are meticulously designed and manufactured to withstand a spectrum of environmental conditions, including elevated temperatures, exposure to chemicals, and physical stresses. Their construction from materials like rubber and thermoplastics, along with their ability to handle different pressure ranges, makes them indispensable components in automotive engineering.

Market Drivers

With the world's population increasing and rapid urbanization, there is a rising demand for transportation, leading to increased manufacturing and sales of vehicles. This surge in vehicle demands is directly correlated with the automotive hoses market, as hoses are utilized in various automotive applications.

The automotive hoses market has been boosted by several other factors, including the increasing prevalence of electric and hybrid vehicles, the expansion of the aftermarket segment, a focus on vehicle safety and reliability, the demand for lightweight vehicles, vehicle electrification trends, and advancements in engine technologies.

Progress achieved in other related industries, such as the automotive industry, also highly contributes towards the growth of the market. Today’s automobiles are fitted with even more complex assemblies, including cooling and heating mechanisms, turbochargers, and fuel injection mechanisms, all of which employ high-performance hoses.

Moreover, new environmental standards that constrain emissions and require higher fuel consumption are stimulating the creation of more efficient and durable hoses. This has brought about extensive production of materials and designs needed to upgrade the performance and durability of automotive hoses. Thus, these technological and regulatory forces are at work shaping and expanding the automotive hose market.

Recent Market JVs and Acquisitions:

A huge number of strategic alliances including M&As, JVs, etc., have been performed over the past few years:

• In 2024, Bridgestone HosePower announced the acquisition of South Carolina-based Cline Hose & Hydraulics.
• In August 2021, Danfoss, a Denmark company specializing in industrial equipment and solutions, purchased the hydraulics division of the US-based multinational corporation, Eaton Corporation Plc.
• In 2019, United Flexible was acquired by Smiths Group PLC and merged with the Flex-Tek Group. The US Hose portion of United Flexible was integrated with Titeflex.

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Key Players

The market is highly fragmented. The following are the key players in the automotive hoses market:

Here is the list of the Top Players (Based on Dominance)

• Gates Corporation
• Parker Hannifin Corporation
• Eaton Corporation
• Continental AG
• TI Fluid System
• Sumitomo Riko Company Limited
• Yokohama Rubber Company Limited
• Toyado Gosei Company Limited
• Cooper-Standard Automotive Incorporation
• Pirtek Limited

Note: The above list does not necessarily include all the top players in the market.

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Segments Analysis

By Vehicle Type

“Light vehicles are expected to remain the biggest demand generator for hoses during the forecast period.”

• The automotive hoses market is segmented into light vehicles and medium-& heavy-duty commercial vehicles.
• Passenger automobiles and light commercials are among the car types with the highest annual production rates, and this category has a high demand for hoses steadily worldwide.
• The global demand for personal transportation continues to rise, leading to millions of new passenger cars being sold annually. Consequently, this high volume directly results in increased demand for hoses.
• Increasing urbanization and the need for personal mobility drive the growth of the light vehicle segment, further boosting the demand for associated parts like hoses.
• Turbocharging and advanced cooling methods are automotive engineering that are increasingly utilized in light vehicles compared to heavy vehicles. Continuous innovations in light vehicle engines, such as turbocharging and downsizing, require high-performance hoses, contributing to market growth.

By Propulsion Type

“Pure ICE is expected to remain the dominant and BEV is anticipated to be the fastest-growing propulsion type during the forecast period.”

• The market is segmented into Pure ICE, Hybrid, and BEV.
• ICE vehicles continue to dominate the automotive hoses market due to their widespread adoption, extensive manufacturing infrastructure, and established consumer base.
• The infrastructure for refueling and maintaining ICE vehicles is widely available and developed worldwide, making automobiles a more accessible option for consumers and corporate entities.
• ICE vehicles dominate the consumer and corporate markets and possess high market penetration with an ever-popular target market for replacement, service, and parts such as automotive hoses.
• Stringent emissions regulations and government policies aimed at reducing carbon footprints are pushing the adoption of zero-emission vehicles like BEVs.
• BEVs are expected to be the fastest-growing segment in the future due to environmental regulations, technological advancements, government incentives, increasing consumer awareness, and significant investments by automakers.
• Major automakers are investing heavily in electric vehicle technology and infrastructure, announcing plans to significantly expand their electric vehicle lineups in the coming years.
• Emphasis on electric and hybrid automobiles has resulted in the development of hoses that can withstand high temperatures and pressures, stimulating the market.

By Application Type

“Thermal management hoses (Complex Cooling) are anticipated to continue being the foremost application type in the market during the forecast period.”

• The automotive hoses market is segmented into fuel lines, turbo, SCR, electric power steering & braking systems, and thermal management hoses.
• Contemporary internal combustion engines and hybrid systems produce more heat and therefore feature enhanced thermal control for maximum output and safe operation to avoid meltdown.
• Another factor is the growing market for electric and hybrid vehicles that entail intricate cooling systems for battery systems, power electronics, and electric engines.
• Heavier global fuel efficiency and emission standards mean that enhanced cooling systems to minimize engine temperatures and improve the entire vehicle performance are imperative.
• With the increasing incorporation of electrical parts and systems, proper thermal management creates a significant demand for better thermal management hoses thereby increasing their performance.

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By Material Type

“Rubber is expected to stay the top material of the market during the forecast period.”

• The automotive hoses market is segmented into rubber hoses, thermoplastic hoses, and other hoses.
• Rubber hoses hold the major share in the automotive hoses market due to their versatility, durability, cost-effectiveness, and well-established manufacturing technology.
• Rubber hoses can be used in a variety of industries and automotive engineering-specific applications such as cooling, fuel, and air intake applications are all needs that the rubber hoses serve.
• Rubber has very good resistance to wear stress which is very viable for those parts that are exposed to very harsh conditions found in most automobiles.
• Rubber hoses are very flexible and can be easily installed. They are capable of working under the motions and vibrations that are normally encountered by any car.
• The market for thermoplastic hoses is growing rapidly, driven by the need for lightweight, high-performance, and environmentally friendly materials in modern automotive applications, particularly in electric and hybrid vehicles.

By Pressure Type

“Low-pressure type is projected to hold a prominent position in the market during the forecast period.”

• The automotive hoses market is segmented into low, medium, and high.
• Low-pressure hoses are required in various systems of vehicles such as fuel delivery systems, air conditioning systems, cooling systems, and vacuum conveyance systems.
• The low-pressure hoses are relatively cheaper to produce and replace than the high-pressure hoses; hence, making the overall cost of production low for car makers, and the cost of ownership low for auto users.
• They are inherently less complex both in design and construction, resulting in more robust hoses and fewer places where potential failure can occur.
• Numerous automotive systems rely on hoses, specifically low-pressure hoses found in passenger vehicles, which constitute a substantial portion of the automotive industry.

By End-User Type

“Aftermarket is expected to remain the lead end-user of the market during the forecast period.”

• The automotive hoses market is segmented into OE and aftermarket.
• Since vehicles are often used for more than warranty periods, many hoses need to be replaced because they wear out with the vehicle’s aging contributing to aftermarket demand.
• As the global vehicle fleet ages, the need for maintenance and replacement parts, including hoses, increases, driving demand in the aftermarket segment.
• Hoses are subject to wear and tear and require regular replacement, especially in regions with extreme climates, further boosting the aftermarket demand.
• Some of the characteristic dry break parts like hoses, are cheaper in the aftermarket than they are if they were original equipment parts hence attracting many customers who are looking to cut costs on servicing.

Regional Insights

“Asia-Pacific is expected to remain the largest market for automotive hoses during the forecast period.”

• The Asia-Pacific region is one of the largest producers of automobiles in the world with China, Japan, South Korea, and India as some of the leading automakers. This high production volume creates a high demand for automotive hoses.
• Factors such as high economic growth, urbanization, and rising disposable income in the Asia-Pacific nations improve vehicle ownership rates, which in turn, drive the demand for automotive hoses.
• The increased number of vehicles in circulation in various countries continues to drive the aftermarket for automotive replacement and refurbishment parts, including automotive hoses.
• The rise of electric and hybrid vehicles in Asia-Pacific is driving demand for advanced hoses required in these new automotive technologies.

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Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s automotive hoses market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market, covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The automotive hoses market is segmented into the following categories:

By Vehicle Type

• Light Vehicles
• Medium-& Heavy-Duty Commercial Vehicles

By Propulsion Type

• Pure ICE
• Hybrid
• BEV

By Application Type

• Fuel Lines
• Turbo
• SCR
• Electric Power Steering & Braking System
• Thermal Management Hoses

By Material Type

• Rubber Hoses
• Thermoplastic Hoses
• Other Hoses

By Pressure Type

• Low-Pressure Hoses
• Medium-Pressure Hoses
• High-Pressure Hoses

By End-User

• OE
• Aftermarket

By Region

• North America (Country Analysis: USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, UK, and Others)
• Asia-Pacific (Country Analysis: China, Japan, India, and Others)
• Rest of the World (Country Analysis: Brazil, Argentina, and Others)

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Service portfolio, geographical reach, regional presence, and strategic alliances

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