Dublin, Sept. 19, 2024 (GLOBE NEWSWIRE) -- The "Global EV Hoses Market (2024 Edition): Market Size, Trends, Opportunities and Forecast By Hose Type, Application, Channel, Region, By Country: 2020-2030" report has been added to ResearchAndMarkets.com's offering.
Global EV Hoses Market was valued at USD 6.19 billion and is expected to grow at a CAGR of 13.7% during 2025-2030.
The EV Hoses market has seen significant growth due to the increasing adoption of electric vehicles (EVs), advancements in automotive technology, and the rising focus on environmental sustainability. EV hoses are essential components in electric vehicles, used for various applications such as cooling systems, battery ventilation, and fluid transfer. The market's expansion is driven by the growing demand for EVs, which require specialized hoses for efficient operation and thermal management.
One of the primary drivers of the EV Hoses market is the global shift towards electric mobility. As governments and consumers prioritize reducing carbon emissions and dependence on fossil fuels, the demand for electric vehicles has surged. This trend is supported by stringent emission regulations, government incentives, and advancements in EV technology, all of which contribute to the increased production and adoption of EVs.
Advancements in EV technology, particularly in battery systems and power electronics, have also played a crucial role in the market's growth. EVs require efficient thermal management systems to maintain optimal operating temperatures and ensure safe and reliable operation. Specialized hoses are integral to these systems, facilitating the cooling and management of various fluids within the vehicle.
The increasing focus on sustainability has influenced the EV Hoses market. Manufacturers are developing eco-friendly and high-performance materials for hoses, aiming to reduce the environmental impact and enhance the durability and efficiency of EV components.
Geographical Insights
The Asia Pacific region is expected to witness the highest growth rate, driven by rapid urbanization, government initiatives to promote electric mobility, and the presence of major EV manufacturers. Countries like China, Japan, and South Korea are key markets, with expanding EV production and supportive government policies.
In Europe, the market for EV Hoses is driven by strong environmental regulations, a well-established automotive industry, and increasing consumer demand for electric vehicles. Countries like Germany, France, and the UK are significant contributors, with a focus on advancing EV technology and infrastructure.
Report Highlights
- In-Depth Comparative Assessment of Top 20 Markets in the EV Hoses Market: Comparative assessment of 20 leading countries highlighting the total addressable market, opportunities, lucrative segments and competitive positioning of leading companies.
- Comprehensive Historical, Present, and Future Analytics of the EV Hoses Market: A deep dive in the historical (2020-2023), current (2024) and forecast (2025-2030) market analytics of EV Hoses Market.
- Detailed Analysis of EV Hoses Market By Hose Type, Application, and Channel Across 20 Countries
- Gain insights specific to new entrants or new market areas to tap: The study provides detailed market entry strategies, including analysis of barriers to entry, pricing strategies, opportunities, trends, drivers, and challenges and product positioning using the Opportunity Portfolio Matrix (OPM)
- Strategic Company Movements: Tracking Competitive Developments and Key Players in the Market: The report covers competitive strategies, mergers & acquisitions, new developments, future plans and market share analysis of
Key Companies
- Eaton Corporation
- Cooper-Standard Automotive Incorporation
- Toyado Gosei Company Limited
- Yokohama Rubber Company Limited
- Sumitomo Riko Company Limited
- TI Fluid System
- Pirtek Limited
- Gates Corporation
- Parker Hannifin Corporation
- Continental AG
Market Segmentation
By Hose Type:
- Charging Hoses
- Brake Hoses
- Cooling Hoses
- Air Conditioning Hoses
- Other Hose Types
By Application:
- Basic Thermal Management Hoses
- Complex Thermal Management Hoses
- Electric Power Steering & Braking System
- Other Applications
By Channel:
- OEM
- Aftermarket
By Geography:
- Americas (The United States, Canada, Brazil, Mexico, Rest of Americas)
- Europe (United Kingdom, Germany, France, Italy, Spain, Turkey, Russia, Rest of Europe)
- Asia Pacific (China, Japan, South Korea, India, Singapore, Indonesia, Rest of Asia Pacific)
- Middle East and Africa (GCC, Israel, South Africa, Rest of Middle East and Africa)
For more information about this report visit https://www.researchandmarkets.com/r/4f89h
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