Automotive Engine Belt and Hoses Market by Type (By Belt Type (Timing Belt, Drive Belt), by Hose Type (Turbocharger, Heating/Cooling, Fuel Delivery, Braking, Steering, Vacuum), by Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles), by North America (U.S., Canada, Mexico) Forecast 2024-2032
The Automotive Engine Belt and Hoses Market size was valued at USD 24.95 USD Billion in 2023 and is projected to reach USD 28.46 USD Billion by 2032, exhibiting a CAGR of 1.9 % during the forecast period. Automotive engine belts and hoses are parts that are essential of the internal combustion system of a vehicle. They assist in transmitting power from the engine to other items like the alternator, water pump, and the air conditioning compressor. Serpentine belts and timing belts are among the engine belts that are commonly made from durable rubber while hoses, usually of rubber or silicone material, are used in conveying fluids such as coolant and oil. They help in enhancing the operation and productivity of the engine, cooling system, among other parts. Some of the benefits include regulating the temperature of an engine, distribution of power in an automobile and avoiding complications such as overheating or leaking. The recent advancements in the manufacturing market indicate improvements in the types of materials used and designs that are used in order to increase the lifespan and functionality of the automotive parts and systems, an indication of efficiency in the engineering of automobiles.
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Aspects | Details |
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Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 1.9% from 2018-2032 |
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Aspects | Details |
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Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 1.9% from 2018-2032 |
Segmentation |
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Note* : In applicable scenarios
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