Portland, Ore., Aug. 04, 2022 (GLOBE NEWSWIRE) — According to a report published by Allied Market Research, the global vehicle exhaust hose market generated USD 525.40 million in 2021 and is expected to generate USD 760.60 million by 2030, exhibiting a CAGR of 4.0% from 2022 to 2030. The report provides extensive analysis of the changing market dynamics, major segments, value chain, competitive scenario and regional landscape. This research offers valuable guidance to leading players, investors, shareholders and start-ups in developing strategies for sustainable growth and gaining competitive advantage in the market.
Vehicle Exhaust Hose Industry Report Coverage and Details:
|Market size in 2021||$525.40 million|
|Market Size in 2031||$760.60 million|
|Number of pages in the report||246|
|Covered segments||Type, end use and region.|
|Drivers||Increased demand from car repair shops|
|Increase in middle class population|
|Effective smoke extraction systems in vehicles|
|Opportunities||An innovation in exhaust hoses for mechanical protection|
|Limits||Increasing demand for electric vehicles (EV)|
- The outbreak of the COVID-19 pandemic has had a negative impact on global vehicle exhaust hose marketdue to the implementation of a strict lockdown which resulted in the temporary closure of car manufacturing activities.
- The ban on import and export activities has led to a sudden drop in the availability of key raw materials for vehicle components. As a result, supply chains were disrupted and production schedules were delayed.
- To prevent the spread of coronavirus, governments in every nation have made social distancing mandatory, due to which market players have faced labor shortages.
- However, in the post-pandemic period, the market recovered quickly with an increase in car sales.
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The study provides detailed segmentation of the global vehicle exhaust hose market based on type, end-use, and region. The report examines the segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the top revenue generating and fastest growing segments mentioned in the report.
On the basis of type, the single layer segment had the highest share in 2021, accounting for about half of the global vehicle exhaust hose market and is expected to continue its leadership status during the forecast period. Furthermore, the same segment is expected to register the highest CAGR of 4.3% from 2022 to 2030. The report also analyzes the two-layer and three-layer segments.
On the basis of end-use, the commercial vehicle segment accounts for the highest share in 2021, holding nearly three-fifths of the global market and is expected to continue its leadership status during the forecast period. Furthermore, the same segment is expected to register the highest CAGR of 4.2% from 2022 to 2030. Other segments mentioned in the report include passenger cars.
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On the basis of region, North America held the largest share in 2021, contributing more than a quarter of the total market share, and is expected to retain its dominant share in terms of revenue in 2030. However, Asia- Pacific region to exhibit the fastest CAGR of 4.6% during the forecast period. The study also analyzes regions including Europe and LAMEA.
The leading market players in the global vehicle exhaust hose market analyzed in the research include Air Cleaning Specialists, Inc., Nederman Holding AB, Masterflex Group., Novaflex Group, Eurovac, Flexaust Inc., Precision Hose & Expansion Joints, BISCO Enterprise, Inc. , Dayco Products, LLC and KEMPER GmbH. These players have adopted various strategies such as new product launches, collaborations, expansions, joint ventures, agreements, and others to increase their market share and maintain dominant shares in various regions. The report is valuable as it highlights the business performance, operating segments, product portfolio and strategic moves of the market players to show the competitive scenario.
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