The new report by Expert Market Research titled, ‘Global Automotive Turbocharger Hose Market Size, Share, Price, Growth, Analysis, Report and Forecast 2021-2026’, gives an in-depth analysis of the global automotive turbocharger hose market, assessing the market based on its segments like product, vehicle type, fuel, distribution channel and major regions like North America, Europe, Asia Pacific, Latin America, Middle East and Africa. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
Note 1: For a snapshot of the primary and secondary data of the market (2016-2026), along with business strategies and detailed market segmentation, please click on request sample report. The sample report shall be delivered to you within 24 hours.
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The key highlights of the report include:
Market Overview (2016-2026)
• Historical Market Size (2020): USD 11 Billion
• Forecast CAGR (2021-2026): 10%
• Forecast Market Size (2026): USD 20 Billion
The market for automotive turbocharger hoses has grown significantly in recent years as the automotive sector has expanded and passenger vehicle sales have increased. Numerous governments worldwide have taken significant steps to minimize emissions and reliance on non-renewable energy resources. The turbocharger contributes significantly to the reduction of vehicular emissions. Utilizing a turbocharger reduces the displacement volume of the cylinder, lowering the volume of fuel required to achieve the same output and lowering the vehicle’s exhaust emissions. Additionally, it improves fuel efficiency, which has accelerated turbocharger adoption. Over the forecast period, rising demand for turbocharged commercial vehicles and increased use of turbochargers by automotive manufacturers to improve fuel efficiency are expected to drive automotive turbocharger hoses demand. Other factors also contribute to demand development, such as technical developments and the expansion of the automotive aftermarket industry.
Industry Definition and Major Segments
A turbocharger in an automobile is comprised of a series of turbocharger hoses. The turbocharger compresses air and delivers it to the engine via these hoses. The exhaust gas turbine harnesses the energy contained in the exhaust gas and uses it to power the compressor and overcome friction. The market is anticipated to grow on account of numerous benefits offered by an automotive turbocharger and the growing demand for improved fuel efficiency and power output.
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Based on the product, the industry is divided into:
• Extruded Charge Air Hoses
• Suction Blow Moulded Plastic Hoses
• Wrapped Charge Air Hoses
• Others
Basis vehicle type, the industry is segmented into:
• Passenger Vehicle
• Light Commercial Vehicle
• Heavy Commercial Vehicle
• Others
On the base of fuel, the market is bifurcated into:
• Gasoline
• Diesel
Based on the distribution channel, the industry is divided into:
• Aftermarket
• OEM
The regional markets for automotive vacuum pump include:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Market Trends
According to the type of vehicle, the passenger vehicle segment is growing rapidly and is expected to account for a sizable portion of the industry during the forecast period. The market’s expansion is aided by rising passenger car sales as a result of rising consumer disposable income, particularly in emerging economies. Meanwhile, commercial vehicles are expected to stimulate the growth of the automotive turbochargers market in the forecast period, owing to their increasing adoption across various industries and SMEs. Geographically, due to the growing demand for automobiles and increased output in the region, Asia Pacific holds a significant share of the industry, which, in turn, is increasing the demand for automotive turbochargers at a rapid rate. Gasoline-type turbochargers are gaining traction, attributing to the maturity of the diesel turbochargers in the market. Moreover, the demand for gasoline turbochargers in light-duty vehicles is further propelling the market. Over the forecast period, penetration of alternative fuel vehicles with excellent properties like low cost, cleaner energy, and improved fuel efficiency is boosting the demand for automotive turbochargers in the market.
Key Market Players
The major players in the market are DuPont de Nemours Inc., ContiTech AG, Gates Corporation, Wacker Chemie AG, Viper Performance Hoses Ltd., Eaton Corporation Plc, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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