Industrial Hose Market size, share & Forecast

 

Industrial Hose Market

The Industrial Hose Market was estimated around USD 9251 million in 2019, growing at a CAGR of 9.3% over the forecast period (2020-2027).

The factors driving growth of the Industrial Hose Market includes rise in the number of infrastructure related projects around the world, growing demand for hoses for material handling in the construction industry, increase in the production of electric vehicles, and improvements in the living standards. Moreover, rising focus on modernizing agricultural practices, growing adoption of advanced technologies by manufacturers, increasing use of durable industrial hoses to prevent fatal accidents and rapid urbanization, are some of the additional factors supplementing the Industrial Hose Market size. In addition, the increasing investments by major companies on research and development, strategic mergers and acquisitions between leading players and growing disposable incomes, are further propelling the market growth.

However, growth of the Industrial Hose Market is hindered due to insufficient availability of skilled workforce.

The prominent players operating in the market are Colex International Limited, Kuriyama of America, Inc., Parker Hannifin Corp., Gates Industrial Corporation, RYCO Hydraulics, Eaton, Alfa Gomma Spa, Transfer Oil S.p.A., Kurt and Continental AG, among others.

Based on Material, the Polyurethane segment is predicted to grow at a significant CAGR during the forecast period

Polyurethan materials are resistant to gasoline and chemicals, and is increasingly used in oil & gas, chemical and agriculture industries.

Based on media Type, the Chemical segment is projected to expand at a robust CAGR over the forecast period

Growing use of industrial hoses for transferring liquid chemicals to other places and loading and unloading chemicals for different processes, are some of the factors propelling growth of the segment.  

Based on Region, the Asia-Pacific region is projected to expand at a remarkable CAGR during the forecast period

Increasing application of hoses in different industries such as Pharmaceutical, Chemicals and Oil & Gas, Government policies promoting the manufacturing of passenger vehicles, rapid urbanization, and increasing population growth rates, are important factors driving the market growth in Asia-Pacific region.

 

Key Development

  • In 2019, Gates Industrial Corporation introduced MXG 4K in India, which is light weight, compact design, and highly flexible hydraulic hose for industrial and automotive replacement markets.

 

Market Segmentation

Segmentation by Material

  • Natural Rubber
  • Nitrile Rubber
  • Polyvinyl Chloride (PVC)
  • Silicone
  • Polyurethane
  • Others

Segmentation by Media Type

  • Water
  • Oil
  • Hot Water & Steam
  • Air & Gas
  • Food & Beverage
  • Chemical

Segmentation by Industry

  • Automotive
  • Pharmaceuticals
  • Infrastructure
  • Oil & Gas
  • Food & Beverages
  • Chemicals
  • Water & Wastewater
  • Mining
  • Agriculture
  • Others

Segmentation by Region

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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