The Brake Hoses by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Brake Hoses , The brake hoses market size has grown strongly in recent years. It will grow from $17.17 billion in 2023 to $18.33 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to automotive production growth, stringent safety regulations, increase in vehicle weight and performance, rise of disc brake systems, global expansion of automotive industry, aftermarket demand.
The brake hoses market size is expected to see strong growth in the next few years. It will grow to $23.66 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to electric and hybrid vehicle growth, autonomous vehicle development, integration of smart brake systems, continued emphasis on safety standards, globalization of automotive supply chains. Major trends in the forecast period include increased adoption of lightweight materials, focus on high-performance brake systems, shift towards electric and hybrid vehicles, technological advancements in brake hose design, increased demand for pre-assembled brake hoses.
Rising demand for passenger and commercial vehicles is significantly contributing to the growth of the brake hoses market. A commercial or passenger motor vehicle is type of vehicle used for the profit of an individual or business to transport goods or passengers. The rapid growth in disposable income among individuals in both developing and developed countries, as well as growing demand for daily commuting to work, has contributed to rapid growth in passenger and commercial vehicle demand. The rapid growth in demand for passenger and commercial vehicles is expected to increase the demand for automotive brake hoses, which are an essential component in the manufacturing of automotive vehicles. For instance, according to June 2021, a report from France-based OICA (International Organization of Motor Vehicle Manufacturers), a France-based international trade association, global passenger car sales increased from 53 million in 2020 to 56 million in 2021. Similarly, commercial vehicle sales increased from 24 million in 2020 to 26 million in 2021. Therefore, the rising demand for passenger and commercial vehicles is expected to propel the growth of the brake hoses market going forward.
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The brake hoses market covered in this report is segmented –
1) By Brake Type: Hydraulic Brake, Pneumatic Brake
2) By Material Type: Rubber, Nylon, Metal, Polytetrafluoroethylene
3) By Vehicle Type: Two-Wheeler, Passenger Vehicle, Light Commercial Vehicle, Heavy Vehicle
4) By Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket
Major companies operating in the brake hoses sector are focused on developing technologically advanced brake hoses to for easy installation, enhanced safety, and durability. For instance, in April 2021, ZF Friedrichshafen, a Germany-based technology company that supplies brake hoses for passenger cars and commercial vehicles, introduced OnGuardMAX, an advanced autonomous emergency braking hose for commercial vehicles in China. It detects, classifies, and reacts autonomously to moving and stationary vehicles, motorcycles, bicycles, and pedestrians. A high-performance image processing module assists this technology with an advanced radar sensor and high-resolution dual-lens camera.
The brake hoses market report table of contents includes:
Executive Summary
Brake Hoses Market Characteristics
Brake Hoses Market Trends And Strategies
Brake Hoses Market - Macro Economic Scenario
Global Brake Hoses Market Size and Growth
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Global Brake Hoses Market Competitive Benchmarking
Global Brake Hoses Market Competitive Dashboard
Key Mergers And Acquisitions In The Brake Hoses Market
Brake Hoses Market Future Outlook and Potential Analysis
Appendix
Top Major Players:
Continental Aktiengesellschaft
Hitachi Metals Ltd
BorgWarner Inc
Dayco IP Holdings LLC
Edelbrock LLC
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