[192 Pages Report] The Automotive Engine Belt & Hose Market size was estimated at USD 27.80 billion in 2023 and expected to reach USD 29.31 billion in 2024, at a CAGR 5.51% to reach USD 40.48 billion by 2030.
Automotive engine belts and hoses are crucial elements in the automotive industry, as these components maintain the vehicle's overall performance and extend its lifespan. Engine belts, such as timing belts or serpentine belts, facilitate efficient mechanical power transfer across various engine parts, including water pumps, alternators, and air-conditioners. Hoses are essential to the cooling system, ensuring proper coolant circulation between the radiator and engine to prevent overheating. As automobile production grows worldwide, so does the demand for high-quality engine belts and hoses. Furthermore, strict regulatory norms by governments for reducing carbon emissions and vehicle pollution across the globe have been fostering the adoption of engine hoses in automobiles. These automotive components face issues of wear and tear owing to prolonged and extensive operations, which further hinder the scope of the global automotive engine belts and hose market.
Moreover, the recent shift toward adopting electric vehicles has emerged as a significant challenge for automotive engine belts and hose businesses. However, the market has witnessed significant advancements with respect to material technology and product design in recent years. Manufacturers are increasingly focusing on developing lightweight materials that offer enhanced durability and better heat resistance while reducing fuel consumption owing to their light weight. In addition, surging demand for eco-friendly products has led to the development of low-emission hoses that minimize fluid leakage, and help meet emission standards set by regulatory bodies, creating lucrative opportunities for the global automotive engine belts and hose market development.
In the Americas, the automotive engine belt and hose market is experiencing significant growth, driven by the combination of technological advancements in the automotive industry and stringent government regulations regarding emissions control. Adopting lightweight materials, such as advanced polymers and composites, has contributed to developing durable, long-lasting belts and hoses that can withstand harsh conditions while improving fuel efficiency. Stringent government regulations regarding emissions control across the U.S., Canada, and many other regions are propelling the need for efficient engine components. The Asia-Pacific region has witnessed a stronger landscape due to the expanding presence of automobile manufacturers across China, India, and Japan. Moreover, the rising population across APAC has generated higher demand for passenger vehicles, resulting in the higher production of engine belts and hoses. The growing industrial and commercial infrastructural development has further fueled the market growth by raising the adoption of heavy and lightweight commercial vehicles and created potential opportunities for automotive belt and hose manufacturers. With the EMEA region being a significant contributor to global vehicle manufacturing, an increase or decrease in vehicle production directly affects the demand for automotive engine belts and hoses. Stringent emission norms such as Euro 6 standards push automakers toward adopting more efficient engines that may require modifications or upgrades to their existing belt-driven systems leading to a stronger landscape for regional automotive belt and hose manufacturers. With growing awareness around sustainability, consumers in the EMEA region are increasingly seeking environmentally friendly options such as EVs and hybrid vehicles, which can affect the demand for engine belts and hoses.
The FPNV Positioning Matrix is pivotal in evaluating the Automotive Engine Belt & Hose Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Automotive Engine Belt & Hose Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Dayco Announced investment in a New Belt Manufacturing Facility In Mexico
Dayco, an engine product and drive systems manufacturer, has announced an investment in a state-of-the-art manufacturing facility in San Luis Potosi, Mexico. This strategic move aims to cater to the automotive, heavy-duty, and industrial segments. The newly established facility is expected to commence operations by Q1 2024 and will specialize in producing high-quality drive belts that meet original equipment standards. Situated within the Parque Tres Nations industrial park, this factory is set to strengthen Dayco's presence in North America and globally. [Published On: 2022-11-02]
JKF Americas Inc. Launches TOP DRIVE Brand
JKF Americas Inc., a subsidiary of JK Fenner (India) Ltd., recently introduced the Top Drive line of power transmission and automotive engine products. The top drive line is designed to meet the demands of the North, Central, and South American markets. The Top Drive industrial product range includes classical V belts, banded belts, wrapped belts, raw-edge cogged belts, poly-V belts, synchronous belts, harvester belts, specialty belts, V cool pulleys, couplings, SMSR, hydraulic hoses, and industrial hoses. Additionally, the automotive product line comprises poly-V belts, stretch poly-V belts, double-sided poly-V belts, raw-edge cog belts, radiator hoses, air intake hoses, branched hoses, silicone hoses, fuel hoses, and auto tensioners. [Published On: 2022-10-05]
Kongsberg wins EUR 58m automotive hose supply deal in North America
Kongsberg Automotive's Fluids Transfer Systems (FTS) unit has successfully secured a four-year hose supply contract valued at EUR 58 million, with an estimated lifetime revenue. This contract encompasses the supply of non-metallic reinforced PTFE hoses and stainless-steel braid PTFE brake lines. The Fluoro-Comp hose is designed for applications prioritizing low-weight and compact packaging, boasting lightweight construction and high-temperature resistance. The hydraulic brake hose not only meets global standards but also complies with the requirements set by multiple automotive manufacturers, ensuring superior performance. [Published On: 2022-03-17]
The report delves into recent significant developments in the Automotive Engine Belt & Hose Market, highlighting leading vendors and their innovative profiles. These include Aisin Seiki Co., Ltd., Bando Chemical Industries, Ltd., BG Automotive Ltd., BorgWarner Inc., Continental AG, Cooper Standard Automotive Inc., Dayco Products, LLC, Gates Industrial Corporation PLC, Goodyear by Adventry Corp, Hutchinson by TDK Corporation, JK Fenner, Megadyne Group, Mitsuba Corporation, Mitsuboshi Belting Ltd., Nichirin Co., Ltd., NOK Corporation, Parker-Hannifin Corporation, Schaeffler AG, SKF Group, Sumitomo Riko Company Limited, Tenneco, The Yokohama Rubber Co., Ltd., Toyoda Gosei Co., Ltd., Tsubakimoto Chain Co., and Virginia Tire & Auto.
This research report categorizes the Automotive Engine Belt & Hose Market to forecast the revenues and analyze trends in each of the following sub-markets:
- Drive Belt
- Timing Belt
- Braking Hose
- Cooling or Heating Hose
- Fuel Delivery System Hose
- Steering Hose
- Turbocharger Hoses
- Vehicle Type
- Heavy Commercial Vehicle
- Light Commercial Vehicle
- Passenger Car
- United States
- New York
- South Korea
- Europe, Middle East & Africa
- Saudi Arabia
- South Africa
- United Arab Emirates
- United Kingdom
- Market Penetration: It presents comprehensive information on the market provided by key players.
- Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
- Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
- Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
- Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
- What is the market size and forecast of the Automotive Engine Belt & Hose Market?
- Which products, segments, applications, and areas should one consider investing in over the forecast period in the Automotive Engine Belt & Hose Market?
- What are the technology trends and regulatory frameworks in the Automotive Engine Belt & Hose Market?
- What is the market share of the leading vendors in the Automotive Engine Belt & Hose Market?
- Which modes and strategic moves are suitable for entering the Automotive Engine Belt & Hose Market?
- Research Methodology
- Executive Summary
- Market Overview
- Market Insights
- Automotive Engine Belt & Hose Market, by Type
- Automotive Engine Belt & Hose Market, by Application
- Automotive Engine Belt & Hose Market, by Vehicle Type
- Americas Automotive Engine Belt & Hose Market
- Asia-Pacific Automotive Engine Belt & Hose Market
- Europe, Middle East & Africa Automotive Engine Belt & Hose Market
- Competitive Landscape
- Competitive Portfolio
- Aisin Seiki Co., Ltd.
- Bando Chemical Industries, Ltd.
- BG Automotive Ltd.
- BorgWarner Inc.
- Continental AG
- Cooper Standard Automotive Inc.
- Dayco Products, LLC
- Gates Industrial Corporation PLC
- Goodyear by Adventry Corp
- Hutchinson by TDK Corporation
- JK Fenner
- Megadyne Group
- Mitsuba Corporation
- Mitsuboshi Belting Ltd.
- Nichirin Co., Ltd.
- NOK Corporation
- Parker-Hannifin Corporation
- Schaeffler AG
- SKF Group
- Sumitomo Riko Company Limited
- The Yokohama Rubber Co., Ltd.
- Toyoda Gosei Co., Ltd.
- Tsubakimoto Chain Co.
- Virginia Tire & Auto