Published Date: 31-Jul-2022
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According to a new report, published by KBV research, The Global Vehicle Exhaust Hose Market size is expected to reach $622.4 Million by 2028, rising at a market growth of 4.3% CAGR during the forecast period.
The Commercial Cars segment acquired maximum revenue share in the Global Vehicle Exhaust Hose Market by End-Use in 2021 thereby, achieving a market value of $381.2 million by 2028. The demand for commercial vehicles has increased recently as a result of the massive expansion of the manufacturing industry, particularly in developing nations, as well as significant advancements in logistics and business operations. Exhaust hose applications in the commercial vehicle industry will undoubtedly open up growth opportunities for the segment during the forecast period.
The Double layer segment is showcasing CAGR of 4.6% during (2022 - 2028). This is mostly attributable to the positive traits of this type of vehicle exhaust hose, such as its excellent flexibility, durability, and higher compressibility rate. The excellent external abrasion resistance of these hoses, which is a result of their construction with metal strips, coated steel wire, and fabric, is another factor that is anticipated to significantly boost the growth of this segment of the market.
The North America market dominated the Global Vehicle Exhaust Hose Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $208.3 million by 2028. The Asia Pacific market is exhibiting a CAGR of 4.8% during (2022 - 2028). Additionally, The Europe market would witness a CAGR of 4.1% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Nederman Holding AB, Masterflex SE (Avantor, Inc.), Air Cleaning Specialists, Inc., Novaflex Group, Flexaust Inc. (Schauenburg Hose Technology Group), Eurovac (Clean Air Technologies Inc.), Precision Hose & Expansion Joints, BISCO Enterprise, Inc., and Dayco LLC.
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