Hydraulic Thermoplastic Hose And Couplings Market By application (Construction Machinery/Equipment, Agricultural Machinery/Equipment, Industrial and Material Handling Equipment, Lubrication Lines, Power and Telephone Mobile Equipment, Other End-Use Applications) By Product Type (Hydraulic thermoplastic hose, Hydraulic couplings)- Growth, Share, Opportunities & Competitive Analysis, 2018 – 2028
The thriving construction industry following the economic recession is a significant driver for the hydraulic thermoplastic hose and coupling market. Moreover, increased mechanization in industrial and agricultural sectors further amplifies the demand. Additionally, the superior attributes of thermoplastic hoses compared to rubber alternatives make them the preferred choice for hydraulic applications. These factors are anticipated to contribute to a compounded annual growth rate (CAGR) of 4.7% during the forecast period of 2018–2028. However, challenges such as a lack of product differentiation and varying manufacturing standards pose moderate obstacles to market growth. Consequently, the hydraulic thermoplastic hose and coupling market is expected to achieve a value of USD 1.2 billion by 2028, with a CAGR of 4.7% from 2018 to 2028.
Key market trends and drivers
The hydraulic thermoplastic hose and coupling market is influenced by several key trends and drivers. One noteworthy trend is the growing demand for hydraulic thermoplastic hoses, which significantly contribute to market revenue due to their exceptional characteristics and wide range of applications. Concurrently, hydraulic couplings are anticipated to experience a rapid increase in demand, primarily driven by the aging hydraulic equipment used across various applications, necessitating timely replacement or upgrade.
While the demand for hydraulic couplings is on the rise, they may not surpass hydraulic thermoplastic hoses in terms of revenue generation. Another notable trend is the increasing preference for sustainable and eco-friendly products. This has resulted in a shift in demand towards biodegradable and recyclable materials in hose production, prompting manufacturers to make substantial investments in research and development.
Hydraulic Thermoplastic Hose And Couplings Market
Key market challenges
The hydraulic thermoplastic hose and coupling market, although experiencing significant growth, faces several notable challenges that could potentially impede its progress. One of the key issues is the lack of product differentiation. Numerous manufacturers are producing similar products, leading to intense competition and necessitating companies to compete primarily on price rather than innovative features. As a result, profit margins are reduced, and the market becomes saturated, hindering innovation and the ability of companies to distinguish themselves.
Another challenge arises from the varying manufacturing standards across different regions. Discrepancies in quality control and safety standards can result in inconsistent product quality, eroding user trust and damaging brand reputation. Moreover, the use of subpar materials in an attempt to reduce costs can lead to products that fail to meet required performance and durability standards, undermining market growth.
Lastly, the recent focus on sustainability presents a challenge for manufacturers who have yet to adapt their production processes. The growing demand for eco-friendly, biodegradable, and recyclable materials necessitates increased investment in research and development, potentially requiring an overhaul of existing production methods.
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In the competitive landscape of the hydraulic thermoplastic hose and couplings market, certain companies have established themselves as market leaders.
Parker Hannifin Corp., a US-based corporation, is widely recognized for its high-quality hydraulic hoses and couplings. They offer a diverse range of thermoplastic hoses suitable for various applications, available in multiple sizes and pressure ratings. Additionally, they have a line of eco-friendly products, showcasing their dedication to sustainability.
Manuli Hydraulics is another notable player in the industry. This Italian manufacturer is renowned for its innovative and robust designs, as well as its unwavering commitment to customer service. Manuli’s products are highly regarded for their performance, durability, and the brand’s emphasis on safety.
Gates Corporation, a Denver-based company, is also a prominent competitor. Gates offers an extensive selection of hydraulic hoses and couplings, including a range of sustainability-focused products. Their commitment to research and development, combined with consistent performance, positions them among the top contenders in the market.
The competitive analysis reveals intense competition among manufacturers, with differentiation primarily based on product quality, range of offerings, and dedication to innovation and sustainability. As the market continues to evolve, these players will need to continuously innovate and adapt to maintain their competitive edge.
The top companies in the hydraulic thermoplastic hose and coupling market are:
Dyna Flex,
Eaton,
Gates,
Kurt Manufacturing,
MAC Tubi,
Manuli Rubber,
NITTA,
NRP Jones,
Parker Hannifin,
Piranha Hose,
Others
Recent developments:
Notable advancements and acquisitions in the hydraulic thermoplastic hose and coupling market include:
In 2019, Parker Hannifin Corp. made an announcement regarding the acquisition of Exotic Metals Forming Company LLC. This strategic move expanded Parker’s service and product portfolio, enabling them to offer a wider range of hydraulic hoses and couplings to their esteemed customers.
Gates Corporation introduced an innovative line of high-temperature hydraulic hoses in 2019, specifically designed to withstand extreme heat conditions. This demonstrates their commitment to innovation and meeting the diverse needs of their valued clients.
In 2018, Manuli Hydraulics established a new assembly unit in South Africa to cater to the increasing demand for hydraulic hoses and couplings in the region. This development further strengthens their global distribution network.
In 2012, Eaton Corporation, a prominent power management company, acquired Turkish hydraulic hose manufacturer Polimer Kauçuk Sanayi ve Pazarlama A.Ş. (SEL). This strategic acquisition significantly expanded Eaton’s presence in the hydraulic thermoplastic hose and coupling market.
Segmentations Analysis
By product type
Hydraulic thermoplastic hose
Hydraulic couplings
In 2018, hydraulic thermoplastic hoses dominated the global market for hydraulic thermoplastic hose and couplings, contributing to over 80% of the total revenue. These hoses play a vital role in heavy hydraulic machinery as they transport the necessary fluid for force transmission. It is expected that during the forecast period from 2018 to 2028, hydraulic thermoplastic hoses will continue to be the leading product segment, driven by the growth in industrial production, advancements in agricultural automation, and a thriving construction sector.
While hydraulic thermoplastic hoses are anticipated to maintain their dominant status, hydraulic couplings are predicted to experience relatively higher growth during the forecast period. Due to their susceptibility to damage, hydraulic couplings are likely to see a greater demand for replacements compared to hydraulic thermoplastic hoses. Furthermore, couplings are critical in linking two hoses, so careful selection and fitting are essential to minimize maintenance costs and limit machine downtime. In addition, due to their lightweight nature, ease of installation, and superior resistance to environmental elements, couplings are becoming the preferred connection component over traditional nut and bolt joints for hydraulic applications.
Application Analysis
The hydraulic thermoplastic hose and couplings market is segmented into the following categories based on application:
Construction Machinery/Equipment
Agricultural Machinery/Equipment
Industrial and Material Handling Equipment
Lubrication Lines
Power and Telephone Mobile Equipment
Other End-Use Applications
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Hydraulic hoses play a crucial role in various types of construction machinery, including earthmovers, excavators, loaders, and tractors, by facilitating the transmission of fluid for mechanical force. In 2018, the construction machinery sector accounted for the largest share of revenue in the global hydraulic thermoplastic hose and couplings market, representing over a quarter of the total. The resurgence of the construction industry in developed economies, coupled with infrastructure development in emerging economies, is expected to drive the demand for construction machinery. This, in turn, will fuel the demand for hydraulic thermoplastic hoses and couplings. As a result, the construction machinery application segment is projected to exhibit the highest growth rate from 2018 to 2028, surpassing all other segments. Additionally, the industrial and material handling segments are also anticipated to experience significant demand due to expected growth in industrial production, leading to increased demand for industrial and material handling machinery.
Geographical Analysis
The global hydraulic thermoplastic hose and couplings market is segmented into the following regions and countries:
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East and Africa
GCC Countries
South Africa
Rest of the Middle East and Africa
In 2018, the Asia Pacific region held the lead in the hydraulic thermoplastic hose and couplings market, with the highest revenue and volume. China was at the forefront of the Asia Pacific market, with India and Japan following closely behind. The flourishing construction industry, which has spurred infrastructural growth in the area, can be credited with this dominance. Additionally, the burgeoning demand for automation in agricultural tasks has driven the need for hydraulic products in this region. Developed markets, such as North America and Europe, have seen a plateau in growth in recent years due to economic downturns. However, as these markets regain economic stability, the construction industry is set to recover its original growth rates, thus providing a significant boost to the market, particularly in the first half of the forecasted period.
1. Preface
1.1. Report Scope and Description
1.2. Research Methodology
2. Executive Summary
2.1. Hydraulic Thermoplastic Hose and Couplings Market Industry Snapshot
3. Global Hydraulic Thermoplastic Hose and Couplings Market Analysis
3.1. Hydraulic Thermoplastic Hose and Couplings Market Overview
3.2. Market Inclination Insights
3.3. Market Dynamics
3.3.1. Market Drivers
3.3.2. Restraints
3.3.3. Opportunity Matrix
3.4. See-Saw Analysis
3.5. Attractive Investment Proposition
3.6. Market Positioning of Key Hydraulic Thermoplastic Hose and Couplings Manufacturers
4. Global Hydraulic Thermoplastic Hose and Couplings Market, By Application, , (US$ Mn)
4.1. Tornado Analysis
4.2. Agricultural Equipment
4.3. Construction Equipment
4.4. Industrial and Material Handling Equipment
4.5. Lubrication Lines
4.6. Power and Telephone Mobile Equipment
4.7. Other Applications
5. Global Hydraulic Thermoplastic Hose and Couplings Market, By Product Type, , (US$ Mn)
5.1. Tornado Analysis
5.2. Hydraulic Thermoplastic Hose
5.3. Hydraulic Couplings
6. North America Hydraulic Thermoplastic Hose and Couplings Market, (US$ Mn)
6.1. Overview
6.2. North America Hydraulic Thermoplastic Hose and Couplings Market, By Application, (US$ Mn)
6.2.1. Tornado Analysis
6.2.2. Agricultural Equipment
6.2.3. Construction Equipment
6.2.4. Industrial and Material Handling Equipment
6.2.5. Lubrication Lines
6.2.6. Power and Telephone Mobile Equipment
6.2.7. Other Applications
6.3. North America Hydraulic Thermoplastic Hose and Couplings Market, By Product Type, (US$ Mn)
6.3.1. Tornado Analysis
6.3.2. Hydraulic Thermoplastic Hose
6.3.3. Hydraulic Couplings
6.4. North America Hydraulic Thermoplastic Hose and Couplings Market, By Country (US$ Mn)
6.4.1. U.S.
6.4.2. Rest of North America
7. Europe Hydraulic Thermoplastic Hose and Couplings Market, (US$ Mn)
7.1. Overview
7.2. Europe Hydraulic Thermoplastic Hose and Couplings Market, By Application, (US$ Mn)
7.2.1. Tornado Analysis
7.2.2. Agricultural Equipment
7.2.3. Construction Equipment
7.2.4. Industrial and Material Handling Equipment
7.2.5. Lubrication Lines
7.2.6. Power and Telephone Mobile Equipment
7.2.7. Other Applications
7.3. Europe Hydraulic Thermoplastic Hose and Couplings Market, By Product Type, (US$ Mn)
7.3.1. Tornado Analysis
7.3.2. Hydraulic Thermoplastic Hose
7.3.3. Hydraulic Couplings
7.4. Europe Hydraulic Thermoplastic Hose and Couplings Market, By Region (US$ Mn)
7.4.1. EU7 (U.K., France Germany, Spain, Italy, Netherlands, Belgium)
7.4.2. CIS
7.4.3. Rest of Europe
8. Asia Pacific Hydraulic Thermoplastic Hose and Couplings Market, (US$ Mn)
8.1. Overview
8.2. Asia Pacific Hydraulic Thermoplastic Hose and Couplings Market, By Application, (US$ Mn)
8.2.1. Tornado Analysis
8.2.2. Agricultural Equipment
8.2.3. Construction Equipment
8.2.4. Industrial and Material Handling Equipment
8.2.5. Lubrication Lines
8.2.6. Power and Telephone Mobile Equipment
8.2.7. Other Applications
8.3. Asia Pacific Hydraulic Thermoplastic Hose and Couplings Market, By Product Type, (US$ Mn)
8.3.1. Tornado Analysis
8.3.2. Hydraulic Thermoplastic Hose
8.3.3. Hydraulic Couplings
8.4. Asia Pacific Hydraulic Thermoplastic Hose and Couplings Market, By Country (US$ Mn)
8.4.1. China
8.4.2. Japan
8.4.3. India Subcontinent
8.4.4. Rest of Asia Pacific
9. Rest of World Hydraulic Thermoplastic Hose and Couplings Market, (US$ Mn)
9.1. Overview
9.2. Rest of World Hydraulic Thermoplastic Hose and Couplings Market, By Application, (US$ Mn)
9.2.1. Tornado Analysis
9.2.2. Agricultural Equipment
9.2.3. Construction Equipment
9.2.4. Industrial and Material Handling Equipment
9.2.5. Lubrication Lines
9.2.6. Power and Telephone Mobile Equipment
9.2.7. Other Applications
9.3. Rest of World Hydraulic Thermoplastic Hose and Couplings Market, By Product Type, (US$ Mn)
9.3.1. Tornado Analysis
9.3.2. Hydraulic Thermoplastic Hose
9.3.3. Hydraulic Couplings
9.4. Rest of World Hydraulic Thermoplastic Hose and Couplings Market, By Region (US$ Mn)
9.4.1. Latin America
9.4.2. Middle East and Africa
10. Profiles
10.1. Gates Corporation
10.2. Parker Hannifin Corporation
10.3. Eaton Corporation
10.4. Transfer Oil S.p.A
10.5. Nitta Corporation
10.6. Polyhose India Pvt. Ltd.
10.7. RYCO Hydraulics Pty Ltd.
10.8. NRP Jones
10.9. Dyna Flex, Inc.
10.10. Kurt Manufacturing Co., Inc.
10.11. MAC Tubi S.p.A
10.12. ZEC S.p.A.
10.13. Piranha Hose Products, Inc.
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Frequently Asked Questions
What is the size of Hydraulic Thermoplastic Hose And Couplings Market?
the hydraulic thermoplastic hose and coupling market is expected to achieve a value of USD 1.2 billion by 2028
What is the Hydraulic Thermoplastic Hose And Couplings Market CAGR?
The Hydraulic Thermoplastic Hose And Couplings market is expected to see significant CAGR growth over the coming years, at 4.7%.
What is the Forecast period considered for Hydraulic Thermoplastic Hose And Couplings Market?
The report is forecasted from 2024-2028
What is the base year considered for Hydraulic Thermoplastic Hose And Couplings Market?
The base year of this report is 2022.
Who are the major players in this market?
Gates Corporation, Parker Hannifin Corporation, Eaton Corporation, Transfer Oil S.p.A, Nitta Corporation, Polyhose India Pvt. Ltd., RYCO Hydraulics Pty Ltd., NRP Jones, Dyna Flex, Inc., Kurt Manufacturing Co., Inc., MAC Tubi S.p.A, ZEC S.p.A., Piranha Hose Products, Inc. among others. are some of the major players in the global market.
About Author
Ganesh Chandwade
Senior Industry Consultant
Ganesh is a senior industry consultant specializing in heavy industries and advanced materials.
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