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A vehicle’s engine consists of the number of parts that perform functions like cooling engines and delivering power. The engine belt helps to perform all these functions by providing power between engine components. These components operate because of friction between the pulley and the belt. Lose belts may hamper the performance of the components by not delivering the desired power. In automobiles, hoses are used to transfer fluids like coolants or lubricants to desired parts or components. Hoses are made up of various materials depending on their application inside the vehicle. In recent years serpentine belts are used to deliver power to the cooling fan, air conditioning compressor, power steering pump, and air injector pump.
Key Market Driver -
Rising sales of passenger vehicles will drive the market.
Key Market Restraint -
Increasing demand for electric vehicles will hamper the growth of the market.
Engine belts and hoses get damaged owing to prolonged use as they undergo wear and tear. Consequently, hoses and belts are not maintained and replaced at a particular time interval can damage the components and may cause injuries to the occupants. For instance, if serpentine belt breaks or stops working, it may result in overheating of the engine or also damage some components.
Some of the major companies that are present in the automotive engine belt & hose market include Toyoda Gosei Co. Ltd., Continental AG, Yokohama Rubber Co. Ltd., Sumitomo Riko Co. Ltd., Pinafore Holdings B.V., Schaeffler AG, Cooper Standard Holdings Inc., Bando Chemical Industries Ltd., Hutchinson SA. and Nichirin Co. Ltd. among the other players.
By belt type, the global automotive engine belt & hose market is segmented into timing belts and drive belt. The timing belt segment is anticipated to dominate the market amid its property to sustain wear and tear for a more extended period than any other belts. Timing belts allow to cam and crankshaft to function in a synchronized pattern. In a few vehicles, timing belts also drive components like balance shaft, injection pump, intermediate shaft, and an oil pump. Timing belts are usually replaced between 96000km to 168000km. The drive belt segment is anticipated to show steady growth in the market during the forecast period. The function of the drive belt is to propel various automotive components like air pump, power steering, and water pump. By hose application, the global automotive engine belt & hose market is segmented into the turbocharger, heating/cooling, fuel delivery, braking, steering. Based on vehicle type, further, the market has been segmented into passenger cars, LCV, and HCV.
Geographically, the automotive engine belt & hose market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. Asia Pacific is anticipated to hold significant market share and also expected to show dominance over the forecast period. Europe is also estimated to witness considerable growth in the global automotive engine belt & hose market.
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Europe currently holds the second-largest position market in the automotive engine belt & hose market. The steps taken by various governments in the region to reduce the carbon emission is the driving factors for the growth of the automotive engine belt & hose market in the region. North America is also expected to show a steady increase in the automotive engine belt & hose market over the forecast period.
By Belt Type
By Hose Type
By Vehicle Type
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