AP NEWS

Global Automotive Brake Hoses and Lines Market 2019-2023 | Key Facts and Figures | Technavio

November 8, 2018

LONDON--(BUSINESS WIRE)--Nov 8, 2018--The global automotive brake hoses and lines market is expected to post a CAGR of nearly 1% during the period 2019-2023, according to the latest market research report by . However, the growth momentum of the market is expected to decelerate due to a decline in the year-over-year growth.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181108005699/en/

The global automotive brake hoses and lines market is expected to post a CAGR of nearly 1% during the period 2019-2023, according to the latest market research report by Technavio. (Graphic: Business Wire)

A key factor driving the market is the affordability of automotive brake hoses or lines with minimal recurring cost. Automotive brake hoses and lines form an integral part of the conventional automotive braking system. A brake hose is affordable and readily available in the commercial market at minimal replacement cost. This is a major factor working in favor of the automotive brake hose market.

This market research report on the also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.

This report is available at a USD 1,000 discount for a limited time only:

In this report, Technavio highlights remote diagnostics for the automotive braking system as one of the key emerging trends in the global automotive brake hoses and lines market:

Global automotive brake hoses and lines market: Remote diagnostics for the automotive braking system

Developments in remote diagnostics technology have made the diagnostic work easier and simpler for automotive technicians. There are several players who are continuously working on preventive maintenance technology as well, which can detect the issues or problems before they become serious concerns. This technology aids in actively monitoring the health of vehicle components and notifies customers about the needed attention. In the automotive braking systems, remote diagnostics is expected to find higher applications, as it can help prevent vehicle recalls.

“Presently, most of the automakers operating in the global automotive market follow a reactive approach, where manufacturers announce a recall after a vehicle encounters a problem. In such cases, the vehicle must be taken to the service centers wherein the technicians either manually replaces the concerned ECU or reprograms the ECU to resolve the issue. However, in remote diagnostics, a remote diagnostic center would receive this data over a network link to formulate an apt fault detection and isolation response,” says a senior analyst at Technavio for research on automotive components.

Global automotive brake hoses and lines market: Segmentation analysis

This market research report segments the global automotive brake hoses and lines market by application (passenger vehicles and commercial vehicles) and geographical regions (APAC, EMEA, and the Americas).

The passenger vehicles segment held the largest market share in 2018, accounting for nearly 78% of the market. This application segment is expected to dominate the global market throughout the forecast period.

APAC led the market in 2018 with a market share of nearly 54%. This region is expected to dominate the market through 2023, with an increase in its market share by over 1%.

Looking for more information on this market?

Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

Market ecosystem Market characteristics Market segmentation analysis

Market Sizing

Market definition Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

Regional comparison Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

Vendors covered Vendor classification Market positioning of vendors Competitive scenario

About Technavio

is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at .

View source version on businesswire.com:https://www.businesswire.com/news/home/20181108005699/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

www.technavio.com

KEYWORD: EUROPE ASIA PACIFIC NORTH AMERICA SOUTH AMERICA AFRICA MIDDLE EAST

INDUSTRY KEYWORD: MANUFACTURING AUTOMOTIVE MANUFACTURING AUTOMOTIVE AFTERMARKET PROFESSIONAL SERVICES OTHER PROFESSIONAL SERVICES

SOURCE: Technavio Research

Copyright Business Wire 2018.

PUB: 11/08/2018 11:52 AM/DISC: 11/08/2018 11:52 AM

http://www.businesswire.com/news/home/20181108005699/en

AP RADIO
Update hourly