Automotive Turbocharger Hose Market Analysis

Automotive Turbocharger Hose Market Analysis

The North America PCV segment captured over 50% of market share in 2020 impelled by the increasing production and sales of premium PCVs due to the rising demand for luxury vehicles. Premium vehicle brands including BMW AG, Audi AG, and Mercedes-Benz are making large investments in R&D activities to innovate new turbocharger systems with maximum efficiency. These players are pre-installing the turbochargers in their vehicles to cater to the increasing consumer demand for efficient vehicles and enhance the automotive turbocharger hose market revenue.

Europe gasoline fuel segment is anticipated to show a high growth rate of more than 5.5% through 2027 driven by its higher RPM advantages in passenger vehicles. Gasoline is more combustible than diesel; thus, turbochargers in petrol engines will enhance the engine power significantly. Companies are focusing on designing turbochargers to operate at higher RPM that does not require a larger space in petrol engines, resulting in smaller combustion chambers along with smaller engine components, providing better fuel efficiency.
 

The increasing penetration of gasoline-powered passenger vehicles will contribute to the high market growth in the coming years. The gasoline-powered vehicles produce lesser emissions, augmenting their proliferation in the global market. The usage of Turbocharged Gasoline Direct Injection (TGDI) in gasoline vehicles has surged the adoption of gasoline automotive turbochargers hose.
 

The Asia Pacific OEM segment crossed USD 470 million in 2020 owing to the pre-installation of turbocharger hose in vehicles. Companies including Gates Corporation, ContiTech AG, Sumitomo Electric Industry, and Cooper-Standard Holdings Inc. are the major companies catering to the automotive turbocharger hose demand. Automobile manufacturers across the globe are deploying advanced turbocharged technology in passenger and commercial vehicles to increase their performance, fuel efficiency, and driving comfort.
 

Manufacturers are pre-installing automotive turbocharger hoses in vehicles to meet stringent emission regulations implemented by regional governments. Moreover, consumers are also making investments in advancing vehicle performance by installing turbocharger hoses. Furthermore, the rise in the trend of automating and modifying passenger and commercial vehicles will augment the market share.
 

The North America automotive turbocharger hose market valued at above USD 440 million in 2020 and is estimated to expand at 6% CAGR through 2027. Increasing regulations toward fuel efficiency and engine downsizing will support the regional demand.
 

As a part of climate plan, the Canadian government is focusing on imposing stringent regulations to meet the set standards. For instance, the Clean Fuel Standard, which was introduced in 2016 is a key part of the country’s national climate plan to accelerate the use of clean technologies and fuels and reduce emissions. The primary objective of the Clean Fuel Standard is to attain 30 million tonnes of yearly reductions in greenhouse gas emissions by 2030. The initiatives taken by the government to promote the clean fuel will boost the demand for the automotive turbocharger hose in the country.