Overview and Scope
Brake hoses are mechanical components that transfer brake fluid from the master cylinder to the brake wheel and are used to slow down or stop vehicles. Break Hoses links brake pipes and wheel brakes in a flexible manner. It is responsible for transferring hydraulic pressure to the wheel cylinders and braking calipers.
Sizing and Forecast
The brake hoses market size has grown strongly in recent years. It will grow from $17.17 billion in 2023 to $18.33 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to automotive production growth, stringent safety regulations, increase in vehicle weight and performance, rise of disc brake systems, global expansion of automotive industry, aftermarket demand.
The brake hoses market size is expected to see strong growth in the next few years. It will grow to $23.66 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to electric and hybrid vehicle growth, autonomous vehicle development, integration of smart brake systems, continued emphasis on safety standards, globalization of automotive supply chains. Major trends in the forecast period include increased adoption of lightweight materials, focus on high-performance brake systems, shift towards electric and hybrid vehicles, technological advancements in brake hose design, increased demand for pre-assembled brake hoses.
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Segmentation & Regional Insights
The brake hoses market covered in this report is segmented –
1) By Brake Type: Hydraulic Brake, Pneumatic Brake
2) By Material Type: Rubber, Nylon, Metal, Polytetrafluoroethylene
3) By Vehicle Type: Two-Wheeler, Passenger Vehicle, Light Commercial Vehicle, Heavy Vehicle
4) By Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket
Asia-Pacific was the largest region in the brake hoses market in 2023. The regions covered in the brake hoses market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
Rising demand for passenger and commercial vehicles is significantly contributing to the growth of the brake hoses market. A commercial or passenger motor vehicle is type of vehicle used for the profit of an individual or business to transport goods or passengers. The rapid growth in disposable income among individuals in both developing and developed countries, as well as growing demand for daily commuting to work, has contributed to rapid growth in passenger and commercial vehicle demand. The rapid growth in demand for passenger and commercial vehicles is expected to increase the demand for automotive brake hoses, which are an essential component in the manufacturing of automotive vehicles. For instance, according to June 2021, a report from France-based OICA (International Organization of Motor Vehicle Manufacturers), a France-based international trade association, global passenger car sales increased from 53 million in 2020 to 56 million in 2021. Similarly, commercial vehicle sales increased from 24 million in 2020 to 26 million in 2021. Therefore, the rising demand for passenger and commercial vehicles is expected to propel the growth of the brake hoses market going forward.
Key Industry Players
Major companies operating in the brake hoses sector are focused on developing technologically advanced brake hoses such as TRW brake hoses. ZF Aftermarket has completely redeveloped its range of TRW brake hoses, featuring an improved elastomer that has allowed for a reduction in outer diameter, resulting in reduced weight and increased elasticity. For instance, in February 2023, ZF Friedrichshafen AG, a Germany-based automotive and industrial technology company, launched TRW electric blue brake pads, which are a new, copper-free version of TRW electric blue brake pads, specially designed for electric vehicles. These pads are engineered to operate quietly, generate minimal abrasion, and maintain full friction performance even after a long period of non-use.
The brake hoses market report table of contents includes:
1. Executive Summary
2. Brake Hoses Market Characteristics
3. Brake Hoses Market Trends And Strategies
4. Brake Hoses Market – Macro Economic Scenario
5. Global Brake Hoses Market Size and Growth
…………………………
31. Global Brake Hoses Market Competitive Benchmarking
32. Global Brake Hoses Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Brake Hoses Market
34. Brake Hoses Market Future Outlook and Potential Analysis
35. Appendix
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