Press Release
Press Release
The global automotive turbocharger hose industry has been growing due to the technological advancements, rising population, and increasing disposable incomes. The market is anticipated to be aided by the growing awareness about the ill-effects of air pollution. Therefore, the fact that turbocharger hampers the emission, is likely to bolster the demand for hose in the forecast period. On the basis of distribution channel, aftermarket accounts for a significant share in the market, owing to the reasonable rates of not only hoses, but the other parts of turbocharger too.
Among the regions, Asia Pacific accounts for a significant share, owing to the presence of strong developing economies in the region like China, India, Japan, and South Korea. The market in the region will be further propelled by the presence of strong market players and the constant innovation and R&D activities carried out by the manufacturers.
The sales of hoses manufactured by ContiTech AG grew significantly in the past year, owing to the increasing focus of the company towards low emissions and e-mobility. Sophisticated thermal management is another feature propelling the sales of the product in the forecast period. ContiTech is the first automotive supplier to combine the two topics of emission-free mobility and carbon neutrality. These factors are likely to accelerate the demand for the product in the forecast period of 2024-2032.
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The major players in the automotive turbocharger hose industry are DuPont de Nemours (NYSE:DD), ContiTech AG (ETR: CON), among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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