Vehicle Exhaust Hose Market Expected to Reach $760.60 Million by 2030—Allied Market Research

According to a new report published by Allied Market Research, titled, “Vehicle Exhaust Hose Market," The vehicle exhaust hose market was valued at $525.40 million in 2021, and is estimated to reach $760.60 million by 2030, growing at a CAGR of 4% from 2022 to 2030.

Vehicle exhaust hose is a pipe that is used to remove harmful pollutants and fumes from the engine of a vehicle. Car exhaust pipe is a flexible line used to evacuate vehicle fumes from an indoor auto repair shop. It is essential to release automobile exhaust as it includes highly toxic carbon monoxide, which is hazardous to human health. Gasoline engine exhaust emissions are the most common source of carbon monoxide, which is a colorless & odorless gas. Carbon monoxide poisoning can occur in minutes, causing a person to lose consciousness and suffocate. The main purpose of vehicle exhaust hose is to remove harmful vehicle fumes from a vehicle. There are different types of vehicle exhaust hose such as manual hose, motorized hose, hose drop, and exhaust extraction.

However, pollution is becoming a major issue due to emission of harmful gases from vehicles such as sulfur during fuel combustion and sulfur trioxide. Governments of various countries across the world are now concerned regarding the environment, and as a result, we now have emission criteria for automotive industry to be followed during design process of vehicle exhaust, in order to emit less gases into the environment. To control emission and environment, governments are focusing and promoting electric vehicles (EVs). Since EVs run on electric powered motor, they do not emit any harmful gases, this factor is going to hamper vehicle exhaust hose market revenue growth. Moreover, rising prices of petrol and diesel are expected to have a detrimental influence on the vehicle industry. For example, India promised at 21st Conference of the Parties to reduce its carbon footprint by 33-35% by 2030, compared to 2005 levels. Furthermore, India has set a national target of 30% EV market penetration by 2030.

The use of exhaust hose as a fume extraction system is anticipated to gain traction. This is because vehicle exhaust hose is a cost-effective exhaust system as well as it can meet stringent emission regulations of the industry to avoid environmental hazards such as air pollution. It is used in automobile repair centers to lower the emissions of hazardous vehicles engine fumes and other harmful particulate matter. Moreover, vehicle exhaust hose system helps to maintain healthy working condition inside automobile garages. Rising application of vehicle exhaust hose in automobile repair centers and garages encourages major players in the market to invest more in new innovation and new product development. These factors are anticipated to boost the market revenue growth in the upcoming years.

The global vehicle exhaust hose market is segmented based on type, end-use, and region. By type, it is classified into single layer, double layer, and three layer. By end-use, it is classified into passenger cars and commercial cars. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players included in the vehicle exhaust hose market report are Masterflex Group., Air Cleaning Specialists, Inc., Nederman Holding AB, Novaflex Group, Eurovac, Flexaust Inc., Precision Hose & Expansion Joints, BISCO Enterprise, Inc., Dayco Products, LLC, and KEMPER GmbH.

The report offers a comprehensive analysis of the global vehicle exhaust hose market trends by thoroughly studying different aspects of the market including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working towards revenue growth of the market. The report also sheds light on the present scenario and upcoming trends & developments that are contributing to revenue growth of the market. Moreover, restraints and challenges that hold power to obstruct the market revenue growth are also profiled in the report along with the Porter’s five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and emergence of substitutes in the market.

Impact of COVID-19 on the Global Vehicle Exhaust Hose Industry

• Sales of vehicle exhaust hose is directly proportional to demand from automobile garages and others. However, automotive was negatively impacted by the COVID-19 pandemic, which has affected the production and demand for vehicle exhaust hose due to disrupted supply chain.
• COVID-19 impacted almost all industries across the globe. Vehicle exhaust hose producing companies ceased their operations owing to import-export restrictions, lockdown imposed across several countries, shortage of labor; and fear of contracting the novel coronavirus, which led to sluggish demand in the market.
• Social distancing norms, closed borders, and production constraints, due to the pandemic, across various countries such as China, India, and the U.S. affected the global market

Key Findings of the Study

• Based on type, the single layer sub-segment emerged as the global leader in 2021
• Based on end-use, the commercial cars sub-segment emerged as the global leader in 2021
• Based on region, the North America market registered the highest market share in 2021, and is projected to maintain its position during the forecast period