Portland, OR -- (SBWIRE) -- 07/13/2017 -- Belts are components in automobile that synchronize crankshaft and camshaft for proper function of valve opening. It is also used for supplying power to water pump, steering pump, and others. A single serpentine belts are used in automobiles to reduce the space required for engines and requirement for frequent maintenance. Hoses are components that ensure proper fluid transmission for performing applications, such as cooling, heating, power steering, and others. The materials used for manufacturing hoses depend on pressure requirements of various applications. The need of belt and hose in automotive systems is increasing with adoption of turbochargers and demand for fuel efficient technologies. Innovations and technological advancement have opened new pathways for belt and hose in automotive systems.

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The key driving factors for growth of the global Automotive Engine Belt and Hose Market are increasing vehicle production advancements in materials and optimum NVH levels. However, low durability and demand for electric vehicles are obstructing growth of the market. Growing aftermarket and maintenance free drive belt are opening up better opportunities for growth of the market.

The global automotive engine belt and hose market is segmented based on belt type, hose application, vehicle type, and geography. The belt type included in the report are timing belt and drive belt. The hose application segment is classified into turbocharger, cooling/heating, fuel delivery, braking, steering. Vehicle types covered in the report are PC, LCV, and HCV. The market is segmented geographically into North America, Asia-Oceania, Europe, and Rest of the World (RoW).

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The prominent manufacturers operating in the market are Continental AG, Toyoda Gosei Co. Ltd., Sumitomo Riko Co. Ltd., Yokohama Rubber Co. Ltd., Pinafore Holdings B.V., Cooper Standard Holdings Inc., Schaeffler AG, Bando Chemical Industries Ltd., Nichirin Co. Ltd., and Hutchinson SA. Various strategies such as partnerships, mergers & acquisitions, expansions, joint ventures, and others have been implemented by them in order to strengthen their position in the market.