Global Industrial Hose Market was value US$ 11.0Bn in 2017 and is expected to reach US$ 18.0Bn by 2026 at a CAGR of 6.35%.
Global Industrial Hose Market, by RegionAn industrial hose is a hollow pipe designed to transfer fluids from one location to another. In hydraulic equipment, hoses carry fluid essential for transmitting the requisite force. Hoses find applications across an extensive range of end-use segments including construction, mining, agriculture, automotive, oil & gas, food & beverage, pharmaceuticals, industrial manufacturing, and others.
Growing the construction and real estate industry owing to economic stability is one of the prominent factors driving demand for industrial hoses worldwide. A gradual shift from traditional farming practices to mechanized farming will also have a positive impact on the global demand for industrial hoses worldwide. Moreover, lack of product differentiation remains a major challenge for manufacturers in the industrial hose market globally. Lack of product offerings and availability of cheap local variants, especially in unorganized markets of emerging countries has compelled established constructors to cut down prices, resulting in low-value growth and profit crunching.
Polyurethane segment is leading the global industrial hose market globally. Polyurethane polymers are traditionally and most ordinarily formed by reacting a di- or tri polyisocyanate with a polyol. Excellent resistance offered to petroleum-based products, for instance, gasoline, kerosene, and oil makes polyurethane hoses ideal for applications in industry verticals including mining, oil & gas, chemicals, and agriculture.
Food & beverage segment is anticipated to be dominant in the market, based on value over the forecast period. However, chemical & pharmaceuticals, oil & gas, construction & mining, and other segment are also expected to gain significant traction in the global market due increasing application of industrial hose assemblies in end-user industries over the scheduled time period.
Region-wise, the Asia Pacific was the largest industrial hose market globally. The value contribution from APAC stood at 42% in the same year. India, China, and Japan represent major industrial hose markets, collectively accounting for over 72% of the market value in the Asia Pacific. A positive view of the construction and industrial sector bodes well for the market growth in the region. China is one of the major construction equipment manufacturers in the world.
Global industrial hose market report includes PESTLE analysis, competitive landscape, and Porter’s five force model. Market attractive analysis wherein all the segments are benchmarked based on the market size, growth rate, and general attractiveness.
Key players operating in global industrial hose market, Gates Corporation, Parker Hannifin Corp., Parker Hannifin Corp., Semperit AG Holding, Campbell Fittings, Inc., United Flexible, Continental AG, Eaton Corporation Plc., Polyhose India Pvt. Ltd., Trelleborg AB, RYCO Hydraulics, RADCOFLEX Australia Pty Ltd., Transfer Oil S.p.A., ABCRUBBER Inc., FlexFit Hose LLC, Abbott Rubber Company, Inc., 4-STAR Hose & Supply, Inc., Neptech Inc., Chamberlin Rubber Company, Inc., Alfagomma S.p.A., IVG Colbachini S.p.A., Integraflex Hose Assemblies, Wellcall Hose (M) Sdn Bhd., Powerflex Industries and Novaflex Group.
Scope of Global Industrial Hose Market
Global Industrial Hose Market, by Raw material
Global Industrial Hose Market, by End user
• Construction & Mining
• Industrial Manufacturing
• Chemicals & Oil & Gas
• Food & Beverage