Portland, OR, Aug. 04, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global vehicle exhaust hose market generated $525.40 million in 2021, and is estimated to generate $760.60 million by 2030, manifesting a CAGR of 4.0% from 2022 to 2030. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.
Vehicle Exhaust Hose Industry Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2030 |
| Base Year | 2021 |
| Market Size in 2021 | $525.40 million |
| Market Size in 2031 | $760.60 million |
| CAGR | 4.0% |
| No. of Pages in Report | 246 |
| Segments covered | Type, End Use, and Region. |
| Drivers | Increased demand from the automotive repair facilities |
| Increase in middle class population | |
| Efficient fume extraction systems in the vehicles | |
| Opportunities | Innovation in the field of exhaust hose for protecting mechanics |
| Restraints | Rise in demand for electric vehicles (EVs) |
Covid-19 Scenario:
- The outbreak of the COVID-19 pandemic had a negative impacted on the global vehicle exhaust hose market, owing to implementation of stringent lockdown that led to temporary closure of car production activities.
- Ban on import & export activities led to sudden decline in availability of essential raw materials for vehicle components. As a result, supply chains were disrupted and production schedules were delayed.
- To prevent the spread of coronavirus, governments across every nation made social distancing compulsory, due to which, market players faced shortage of labor.
- Nevertheless, in the post-pandemic, the market recovered quickly with the increase in vehicle sales.
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The research provides detailed segmentation of the global vehicle exhaust hose market based on type, end use, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
Based on type, the single layer segment held the highest share in 2021, accounting for around half of the global vehicle exhaust hose market, and is expected to continue its leadership status during the forecast period. In addition, the same segment is expected to register the highest CAGR of 4.3% from 2022 to 2030. The report also analyzes the double layer and three layer segments.
Based on end use, the commercial cars segment accounted 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. In addition, the same segment is expected to register the highest CAGR of 4.2% from 2022 to 2030. Other segment mentioned in the report include passenger cars.
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Based on region, North America held the largest share in 2021, contributing to more than one-fourth of the total market share, and is projected to maintain its dominant share in terms of revenue in 2030. However, the Asia-Pacific region is expected to manifest the fastest CAGR of 4.6% during the forecast period. The research also analyzes regions including Europe and LAMEA.
Leading market players of 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 different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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