New York, USA, June 08, 2021 (GLOBE NEWSWIRE) -- As per a new report examined by Research Dive, the global vehicle exhaust hose market is projected to register a revenue of $744.8 million in the year 2027, rising from a market size of 590.3 million in the year 2019, at a considerable growth rate of 2.9% during 2020-2027 timeframe. The market report offers in-depth content on the Covid-19 mayhem impact on the market, specifies drivers, restraints, and lucrative opportunities. The research methodology utilized in the report is a compilation of both primary and secondary research techniques.
Download Free Sample Report of the Global Vehicle Exhaust Hose Market: https://www.researchdive.com/download-sample/8352
Effect of Covid-19 on the Market
The vehicle exhaust hose market is estimated to decline worldwide during the Covid-19 pandemic due to the shutdown of factories worldwide, thus impacting the production of vehicles at a large scale. Further, sales of vehicle exhaust hoses dropped globally due to the shutdown of manufacturing plants. These aspects are anticipated to affect the market negatively during the outbreak. However, government initiatives to support businesses are speculated to surge the market growth in the post-pandemic period.
Check out How COVID-19 impacts the Global Vehicle Exhaust Hose Market. Click here to Connect with our Analyst to get more Market Insight: https://www.researchdive.com/connect-to-analyst/8352
Aspects Impacting the Market Growth
The engine combustion process gives out toxic gases and particulates from diesel vehicles. These toxic gases pose a severe threat to health in garages or storage units and may lead to cancer. Therefore, the need to create a safe work environment for people in workshops or automobile garages is important. This factor is projected to bolster the growth of the market during the estimated timeframe. Growing innovations of electric vehicles in countries such as Germany, the United States, and China, are projected to hinder the market growth. However, the need for purifying the air in the automotive industry is estimated to open up promising opportunities for the market.
Check out all Automotive and Transportation Industry Reports: https://www.researchdive.com/automotive-and-transportation
Single Layer Sub-Segment to be the Most Profitable
From the type segment, the single-layer sub-segment was accounted for $292.5 million in 2019 and is predicted to cross $377.7 million by the end of 2027. Single-layered exhaust hoses come with exceptional features such as a high compressibility rate, immense flexibility, and steadiness. Single-layered type hoses are manufactured with silicone-coated fiberglass that offers resistance to alkali, fungus, and water. These aspects are expected to fuel the growth of the sub-segment during the estimated timeframe.
Commercial Vehicle Sub-Segment to Gain Maximum Growth
From the application segment, the commercial vehicle sub-segment is projected to generate a revenue of $446.1 million by the end of 2027, at a considerable growth rate of 3.1% during the estimated timeframe. The industrial sector is rapidly gaining height in countries like India, China, and Brazil. Also, commercial operations are developing constantly in logistics worldwide. This factor is predicted to bolster the growth of the sub-segment during the forecasted period.
Regional Analysis
The North American region is anticipated to exceed $211.2 million revenue by the end of 2027, from a substantial market size of $176.2 million in the year 2019. Strict norms regarding gas emissions along with amplified demand for vehicle exhausts in countries like the United States and Canada are estimated to boost the market during the forecasted timeframe. The key manufacturers are concentrating on business expansions and research & development projects to attain an upper edge in the market. All these factors are predicted to boost the market during the forecasted timeframe.
Access Varied Market Reports Bearing Extensive Analysis of the Market Situation, Updated With The Impact of COVID-19: https://www.researchdive.com/covid-19-insights
Key Market Players
1. Masterflex Group.
2. Air Cleaning Specialists, Inc.
3. Nederman Holding AB
4. Novaflex Group
5. Eurovac
6. Flexaust Inc.
7. Precision Hose & Expansion Joints
8. BISCO Enterprise, Inc.
9. Dayco Products, LLC
10. KEMPER GmbH.
These significant players are planning several strategies such as product developments, research & development activities, acquisitions of businesses, tie-ups & collaborations for maximizing profits, and organizational development to gain an upper edge in the market worldwide. For instance, in November 2020, Plymovent, a manufacturer of vehicle exhaust removal, introduced its new commerce website for selling vehicle exhaust hose products online.
The report also provides an overview of many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments. Click Here to Get Absolute Top Companies Development Strategies Summary Report.
TRENDING REPORTS WITH COVID-19 IMPACT ANALYSIS
Automotive Airbags & Seatbelts Market: https://www.researchdive.com/271/automotive-airbags-and-seatbelts-market
Automotive Active Health Monitoring System Market: https://www.researchdive.com/285/automotive-active-health-monitoring-system-market
Logistics Market: https://www.researchdive.com/332/global-logistics-market
Automotive Centre Display Market: https://www.researchdive.com/312/global-automotive-center-display-market
Electric Bicycle Batteries Market: https://www.researchdive.com/393/global-electric-bicycle-batteries-market