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The automotive brake hoses and lines market size is estimated to grow at a CAGR of 2.56% between 2023 and 2028. The market size is forecast to increase by USD 2.99 billion. The growth of the market depends on several factors such as the affordability of automotive brake hoses and lines at minimal recurring cost, the increase in production of passenger and commercial vehicles, and the government standards on automotive braking systems.
The report offers extensive research analysis on the Automotive Brake Hoses and Lines Market, with a categorization based on Application, including passenger vehicles and commercial vehicles. It further segments the market by Type, encompassing rubber, stainless steel, and others. Additionally, the report provides Region segmentation, covering APAC, Europe, North America, Middle East and Africa, and South America. Market size, historical data (2018-2022), and future projections are presented in terms of value (in USD billion) for all the mentioned segments.
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Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving the automotive brake hoses and lines market growth is the affordability of automotive brake hoses and lines at minimal recurring cost. Automotive brake hoses or lines form an essential part of the conventional automotive braking system. In addition, a brake hose is affordable and readily available in the commercial market at minimal replacement cost thereby fuelling the growth of the global automotive brake hose and lines market.
Moreover, hydraulically operated brake systems use brake hoses also known as brake lines, which use fluid pressure to stop the vehicle. In addition, as hydraulic brake fluid flows through the brake hose whenever the brake is applied, it deteriorates over time. Therefore such factors, coupled with the low cost of purchase of brake hoses and lines, act as a market enabler for the concerned market. Hence, it is driving the market growth during the forecast period.
A key factor shaping the automotive brake hoses and lines market growth is the improving reliability of automotive braking systems. The automotive system developers and automakers have started working on enhancing the system reliability and durability of such systems/technologies. In addition, the spending and investments in making them fool-proof have considerably increased over the last few years.
Moreover, the technical issues, glitches, and malfunctions associated with such electronic braking systems have periodically led to vehicle recalls. As a result, this has pushed both automakers and advanced braking system developers to work collectively in making them fail-proof. Furthermore, the work on developing advanced algorithms has been gaining momentum, which forms the basis or brain in designing such systems. Hence, such factors are driving the market growth during the forecast period.
The emergence of an all-electronic braking system is one of the key challenges hindering the automotive brake hoses and lines market growth. There has been significant development and innovations in the global automotive industry that it transformed the way people travel. In addition, automotive electronics is making inroads in automotive design, development, and manufacturing, thereby redefining the complete value chain. Furthermore, the rise in applications of automotive electronics is making modern automobiles lightweight and energy-efficient with improved performance.
Moreover, it is expected that the brake hoses or lines will be replaced by electronic components or actuators in the future, which may limit the growth of the global automotive brake hoses and lines market. In addition, the electronic braking system is still undergoing developments and improvements by Tier I suppliers and automakers, where R&D activities are increasing the reliability and functioning of the complete braking system. Therefore, as the system by design replaces conventional mechanical parts and linkages, it hinders the market growth during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Automotive Brake Hoses and Lines Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AGS Automotive Solutions: The company offers automotive brake hoses and lines through its subsidiary BrakeQuip LLC.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The passenger vehicles segment is estimated to witness significant growth during the forecast period. The increasing production volume of automobiles in developing economies including China and India are acting as market enablers for the market. In addition, there is an increase in purchasing purchase power parity in these nations, which is further stimulating the demand for automobiles.
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The passenger vehicles segment was the largest segment and was valued at USD 17.38 billion in 2018. Moreover, the growth in the market share of premium and luxury segments such as sedans and sports utility vehicles (SUVs) in APAC is fueling the growth of the passenger vehicles segment of the market. This is due to the better-quality brake lines and assemblies used in addition to multiple brake hoses per wheel in most vehicles. In addition, passenger vehicles can be segmented as entry-level, mid-level, and premium or luxury-level vehicles. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
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APAC is estimated to contribute 50% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The increase in the volume of automobile sales in countries including China, Japan, South Korea, India, and Southeast Asian nations is acting as a major market enabler for the market. This is because, in these countries, there is a significant demand for both passenger and commercial vehicles due to the improving socio-economic conditions and purchasing power parity. Thus, these economies dominate the brake hoses and lines market in APAC. In addition, APAC has some of the fastest-growing automotive economies in the world, such as China, India, and the Association of Southeast Asian Nations (ASEAN). Furthermore, the region also has developed automotive markets such as Japan, South Korea, and Australia when compared with other countries in APAC. Hence, such factors are driving the market growth in APAC during the forecast period.
The automotive brake hoses and lines market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Automotive Brake Hoses And Lines Market Scope |
|
Report Coverage |
Details |
Page number |
171 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 2.56% |
Market Growth 2024-2028 |
USD 2.99 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
1.94 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 50% |
Key countries |
US, Mexico, China, Japan, and South Korea |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AGS Automotive Solutions, Codan Rubber AS, Continental AG, Cooper Standard Holdings Inc., Dana Inc., Dayco IP Holdings LLC, EDELBROCK LLC, Hitachi Ltd., JAGWIRE, KST Technology Inc., Meritor Inc., Mitsubishi Corp., NICHIRIN Co. Ltd., Parker Hannifin Corp., Polyhose India Pvt. Ltd., Robert Bosch GmbH, Rothe Packtech Pvt. Ltd., TI Fluid Systems Plc, TOSY AUTO PRODUCTS, and Valeo SA |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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