PUNE, India, September 29, 2015 /PRNewswire/ --
The report "Automotive Engine Belt & Hose Market by Belt Type (Timing Belt, Drive Belt), Hose Application (Turbocharger, Cooling/heating, Fuel Delivery, Braking, Steering), Vehicle Type (PC, LCV, HCV), and by Region - Global Forecast & Analysis to 2020" published by MarketsandMarkets, The global Automotive Engine Belt & Hose Market, in terms of value, is projected to grow from USD 14.6 Billion in 2015 to 20.2 Billion by 2020 at a CAGR of 6.69%.
Browse 111 market data Tables and 71 Figures spread through 185 Pages and in-depth TOC on "Automotive Engine Belt & Hose Market"
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The market report classifies and defines the automotive belt & hose market in terms of value and volume. The report highlights potential growth opportunities for the automotive belt & hose market during the forecast period, and also includes a review of market drivers, restraints, opportunities, challenges, competitive landscape, and other key aspects related to the automotive belt & hose market.
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Asia-Oceania: Largest Market for Automotive Belt & hose
Asia-Oceania is estimated to lead the market for automotive belts & hoses with China being the chief contributor to the growth of this market, which has grown to become the largest producer and consumer of automobiles across the globe. The automotive markets in Japan and South Korea are technologically advanced and well established, whereas the Indian Automotive Belt & Hose Market is growing and is expected to offer new opportunities. The growth potential of this region has resulted in many major OEMs, manufacturers, and suppliers choosing to setup R&D and production facilities in this region. Tier-1 suppliers including Toyoda Gosei Co. Ltd. (Japan), Yokohama Rubber Co., Ltd. (Japan), and Sumitomo Riko Co. Ltd. (Japan) are headquartered in this region.
Adoption of fuel efficient technologies will directly affect the market
Globally, OEMs are improving their powertrains for increased efficiency and reducing emissions. These improvements include engine downsizing and electrification of components among others. A harsher working environment, increasing need for durability has resulted in a change in the way belts and hoses are made. The increasing adoption of turbochargers in the North American and Chinese markets has resulted in an increasing demand for hoses, which can handle the temperature of the exhaust gases, used for increasing the fuel efficiency. The adoption of Electrically Assisted Power Steering has also affected the market for power steering hoses. The use of blended fuels has resulted in research in the fuel delivery system hose market.
This report illustrates the market for automotive belts & hoses in terms of both volume and value. The market size in terms of volume from 2013-2020 is provided in terms of million units, whereas the market size in terms of value from 2013-2020 is provided in terms of USD million. With a focus on the key countries, the report is broadly classified into regions (Asia-Oceania, Europe, North America, and RoW).
The report provides, classifies and defines the Automotive Belt & Hose Market in terms of value, providing qualitative as well as quantitative insights. It consists of a comprehensive review of market drivers, restraints, opportunities, challenges, and other related aspects in the Automotive Belt & Hose Market. Key players in the market identified and profiled in this report include Continental AG (Germany), Toyoda Gosei Co. Ltd. (Japan), Yokohama Rubber Co., Ltd. (Japan), Sumitomo Riko Co. Ltd. (Japan), and Gates Corporation (U.S.).
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