Analysis on the current situation and development prospect of China’s automobile hose market in 2020

Automobile rubber hose is the main component of automobile pipeline system, which is widely used in automobile, motorcycle, engineering machinery, mining, metallurgy, petroleum, chemical industry and many other fields. Automobile hose is the main market segment in the hose industry. Automotive hose is one of the most concerned and largest hose markets in recent years.

With the improvement of economic level and technological progress, China’s car ownership has increased year by year, driving the market demand for auto parts. By the end of 2019, the number of motor vehicles in China has reached 348 million, including 260 million vehicles.

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In 2018, China’s auto parts manufacturing enterprises achieved sales revenue of 4.00 trillion yuan, a year-on-year increase of 7%. Driven by the steady growth of automobile industry, the overall development of parts market tends to be good. It is estimated that the sales revenue of China’s auto parts industry will reach 4.61 trillion yuan in 2020.

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Development prospect of automobile hose industry

(1) National policies promote industry development

Under the background of a series of national policies actively supporting the industrial development, the automobile hose industry is facing a good policy environment. Enterprises with independent innovation ability, professional production and modular supply capacity in the field of automobile hose will have the opportunity to enjoy more policy dividends.

(2) The development of automobile industry promotes the development of automobile hose industry

With the establishment of the division of labor system of global economic integration and the transfer of automobile manufacturing industry, China’s automobile industry has formed a multi variety, full series of all kinds of vehicle and parts production and supporting system, and has achieved leapfrog development in the industrial scale, product research and development, structural adjustment, market development, opening up and other aspects, which promotes the rapid development of the automobile industry. In the future, the stable and healthy development of China’s automobile industry will continue to promote the development of automobile hose industry.

(3) Import substitution and metal substitution provide more development space

In terms of technology, with the rapid improvement of China’s equipment manufacturing capacity, the gap between China and the world’s advanced automobile hose manufacturing technology is becoming smaller and smaller. In terms of labor cost, Chinese enterprises have obvious competitive advantages. With the development of automobile “lightweight” trend and the rapid change of vehicle models, rubber and plastic products can replace metal parts in the past, and the proportion of rubber and plastic parts in vehicle value and parts consumption will be more and more.

(4) Industry concentration is increasing gradually

With the increasing diversification of automobile market demand, vehicle manufacturers have increasingly strict requirements on the design and research, synchronous development, testing, quality management and delivery time of parts suppliers. It is difficult for small-scale enterprises to meet the requirements. Some enterprises in the industry that lack technical strength, single products and small production scale are gradually eliminated from the market, and the industry concentration is further enhanced Industry leading enterprises provide development space.

(5) The rubber hose usage of new energy vehicles such as extended range, hybrid electric vehicle and fuel cell is increasing

New energy vehicles, such as extended range, hybrid electric vehicles and fuel cells, have increased the use of automotive pipeline products while retaining most of the original engine functions. In the future, with the continuous expansion of this kind of new energy vehicle market, it will drive the growth of automobile rubber hose market demand.

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Post time: Nov-19-2020