Market Insights
The flourishing construction industry post-economic recession is one of the major factors driving the hydraulic thermoplastic hose and couplings market. Furthermore, increased industrial and agricultural mechanization also boosts market demand. In addition, superior characteristics offered as compared to rubber equivalents make thermoplastic hoses a preferred choice for hydraulic applications. These factors are expected to contribute toward a compounded annual growth rate (CAGR) of 4.7% during the forecast period 2015 – 2022. However, issues such as lack of product differentiation and varying manufacturing standards pose moderate challenges to market growth. As a result, the hydraulic thermoplastic hose and couplings market is expected to expand at a CAGR of 4.7% from 2015 to 2022, reaching US$ 814.0 Mn by 2022.
Purpose of the Report
The purpose of this strategic research study titled “Global Hydraulic Thermoplastic Hose and Couplings Market – Growth, Share, Opportunities, and Competitive Analysis, 2015 – 2022” is to offer industry investors, company executives, and industry participants with in-depth insights to enable them make informed strategic decisions related to the opportunities in the global hydraulic hose and couplings industry.
Target Audience
- Industry Investors
- Hose Manufacturers
- Couplings Manufacturers
- Other Hydraulic Product Manufacturers
- End-users
Segmentations
Based on product type, the hydraulic thermoplastic hose and couplings market is categorized into the following verticals:
- Hydraulic Thermoplastic Hose
- Hydraulic Couplings
In terms of revenue, the hydraulic thermoplastic hose was the largest product segment, accounting for over 80% of the global hydraulic thermoplastic hose and couplings market revenue in 2014. Hoses are integral components of heavy hydraulic machinery since they carry the fluid required for transmitting the requisite force. Over the forecast period, hydraulic thermoplastic hoses are expected to remain the major product segment, majorly supported by the growth in industrial production, agricultural process automation, and the booming construction industry.
Although hydraulic thermoplastic hose is expected to remain the major product segment, hydraulic couplings are expected to witness comparatively higher growth during the forecast period 2015 – 2022. Hydraulic couplings being more vulnerable to damage than any other component in the hydraulic assembly, are expected to witness greater replacement demand than hydraulic thermoplastic hoses. Furthermore, couplings play a crucial role in connecting two hoses. As such, vigilant selection and installation of couplings are necessary to curb maintenance expense and reduce machine downtime. In addition, superior benefits offered, including light weight, easy installation and mounting, and better resistance to environmental conditions, have made couplings the preferred connecting component over the traditional nut and bolt joints for hydraulic applications.
Based on application, the hydraulic thermoplastic hose and couplings market is categorized into the following segments:
- Construction Machinery/Equipment
- Agricultural Machinery/Equipment
- Industrial and Material Handling Equipment
- Lubrication Lines
- Power and Telephone Mobile Equipment
- Other End-use Applications
Construction equipment/machinery, including earthmovers, excavators, loaders, and tractors, make widespread use of hydraulic hoses to carry fluid necessary for transmitting force throughout the machinery. In 2014, construction equipment/machinery was the largest application segment in the hydraulic thermoplastic hose and couplings market, accounting for over one-fourth of the global market revenue.
Swift recovery by the construction industry post economic recession in developed economies (North America and Europe) coupled with the infrastructural development in emerging economies is expected to drive demand for construction equipment, which, in turn, is expected to support the demand for hydraulic thermoplastic hoses and hydraulic couplings. As such, the construction equipment application segment is anticipated to exhibit maximum growth, outpacing all other application segments over the forecast period 2015 – 2022. On the other hand, the industrial and material handling segment is all set to witness robust demand over the forecast period. The growth in industrial output is expected to boost the global demand for industrial and material handling machinery.
Based on geography, the global hydraulic thermoplastic hose and couplings market is segmented into the following regions and countries.
- North America
- Europe
- Germany
- France
- UK.
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- South-east Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of the Middle East and Africa
In 2014, Asia Pacific was the largest hydraulic thermoplastic hose and couplings market in terms of both revenue and volume. China was the largest hydraulic thermoplastic hose and couplings market in Asia, followed by India and Japan. The dominance can be credited to the booming construction industry resulting in increased infrastructural development in the region. The demand for hydraulic products in the region can also be attributed to the growing demand for automation in agricultural operations. Developed markets, including North America and Europe, have witnessed stagnant growth in recent years due to the economic recession. However, with markets showing economic stability, the construction industry in these regions is poised to regain its original growth levels, offering the necessary push to market growth, especially in the first half of the forecast period.
