Automotive Engine Belt and Hose Market Dynamics Analysis 2019-2027
Automotive engine belts helps engine to drive various vehicle component, which need the external input power for its functioning. A hose is a hollow tube structure deliberate to carry fluids in a car. Hose is made up of either plastic or rubber.
Increase in production volume of passenger and commercial vehicles is expected to boost the automotive engine belt and hose market during the forecast period. Implementation of rigorous norms and regulations across the globe regarding improvement of fuel efficiency of vehicles and reduction of vehicular emissions are anticipated to augment the automotive engine belt and hose market in the near future.
The automotive belt and hose gets damaged after using it for certain period of time since it undergoes wear and tear. If the belt and hose is not replaced after regular intervals of time, it can create safety issues by posing to be a threat for the life of the driver. This minor drawback of the automotive belt and hose is anticipated to hamper the growth of the automotive engine belt and hose market to some extent during the forecast period.
Based on type of engine belts, the automotive engine belt and hose market can be segmented into timing belts, drive belts, and V-belt. Timing belt, also known as Gilmer belt or camshaft drive belt, is a notched rubber belt that allows the crankshaft to turn the camshaft. The camshaft opens and closes valves in harmonization with the movement of the engine’s piston. Timing belt is a vital component of a vehicle. Drive belts, also known as serpentine belts, is long belt that is powered by multiple v-belts. V-belt is used in the engine to drive the alternator from the crankshaft, AC compressor, and power steering pump. Serpentine belts are most commonly used in new cars while v-belts are standard belts for old vehicles.
Based on types of hose, automotive engine belt and hose market can be segmented into radiator & heater hose, fuel hose and power steering hose (hose). Radiator and heater hose is used to carry coolant to the engine and the heater core. Fuel hose is used to transport fuel from the tank to the engine. Power steering hose acts as a connector between the power steering pump and steering gear. The radiator & heater hose segment is expected to dominate the automotive hose market during the forecast period owing to the implementation of stringent rules and regulations regarding improvement of fuel efficiency of vehicles, and rise in awareness about reduction of vehicular emissions.
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Based on vehicle type, the automotive engine belt and hose market can be bifurcated into passenger vehicles and commercial vehicles. The passenger vehicles segment is anticipated to expand significantly during the forecast period owing to the increase in production volume of passenger vehicles over the last few years.
Based on application of hose, the automotive engine belt and hose market can be classified into turbocharger, cooling/heating, fuel delivery, braking, and steering. The turbocharger segment is anticipated to expand significantly during the forecast period due to the growth in adoption of turbochargers in order to improve the fuel efficiency of vehicles. Turbocharger is a mechanical device, which increases the air flow in the engine. It derives energy from exhaust gases, which usually get wasted in a naturally aspirated engine.
Based on material, the automotive engine belt and hose market can be segregated into rubbers & elastomers, and fiber reinforced plastics. Virgin plastics are usually not preferred in automotive belts and hoses, since these belts and hoses undergo mechanical friction and wear and tear during their operation. Virgin plastic materials lack the flexibility and strength required for such dynamic applications. Reinforcing plastics with fiber impart good abrasion resistance, elasticity, and high strength to plastics that are used to make belts and hoses, thus enhancing the lifespan and reducing the weight of belts and hoses. This is expected to promote the growth of the fiber reinforced plastics segment during the forecast period.
Based on sales channel, the automotive engine belt and hose market can be classified into OEM (original equipment manufacturer) and aftermarket. Belt and hose are components that need to be replaced after certain intervals of time, since they are prone to develop cracks, leak, or fray from constant exposure to heat, vibration, and other harmful chemicals. A leaking hose or a cracked belt can severely hamper the engine performance. Thus, the aftermarket is projected to be a rapidly growing segment during the forecast period.
Based on region, the automotive engine belt and hose market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The automotive engine belt and hose market in Asia Pacific is likely to expand at a fast pace during the forecast period, owing to the expansion of the automotive industry, strong presence of key automotive manufacturers in countries such as China, and increase in efforts by governments as well as OEMs to adopt fuel efficient technologies in order to improve vehicle performance. The automotive engine belt and hose market in North America is also expected to expand substantially in the near future, led by the U.S. Government’s enactment of stringent regulations for the reduction of vehicular emissions and high adoption rate of technology in the region. The automotive engine belt and hose market in Europe is also anticipated to expand in the next few years due to the rapid increase in production of vehicles in the region.
Key players operating in the automotive engine belt and hose market include Gates Corporation, Hutchinson SA, Continental AG, Sumitomo Riko Co., Ltd., Toyoda Gosei Co., Ltd., Yokohama Rubber Co. Ltd., Schaeffler AG, and Cooper Standard Holdings Inc.
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