Automotive and Off-Road Vehicle Hoses Market to Witness an Outstanding Growth

Posted by Anup Kumar on May 31st, 2021

Growing number of on-road vehicles with rise in demand for passenger cars, increase in material advancements by manufacturers, and rising number of manufacturing facilities, distributors, and suppliers in countries such as China, India, and the U.S. are driving demand for automotive and off-road vehicle hoses. Increasing demand for two wheelers and three wheelers in countries such as China and India is also accelerating market growth.

However, due to the COVID-19 outbreak, global sales of passenger cars, LCVs, and HCVs declined in 2020 because of a slowdown in the automotive industry. However, the market is slowly recovering as things are getting back to normal, gradually.

Automotive hoses are an important component for a vehicle’s internal functioning. Many manufacturers are using rubber, silicone, and fluoropolymer materials for making these hoses, as they require resilience against high temperature and pressure for fluid transfer in the vehicle’s engine. The main focus of manufacturers is to make sustainable and high quality hoses that function smoothly in adverse conditions.

As per Fact.MR’s analysis, the global automotive and off-road vehicle hoses market is expected to expand steadily at a CAGR of around 5.4% from 2021 to 2031.

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