Industrial Hose Market By Raw Material (Polyurethane, PVC, Rubber, Silicone, Others), By End-Use Vertical (Construction & Mining, Agriculture, Industrial Manufacturing, Automotive, Chemicals & Oil & Gas, Food & Beverage, Others) - Growth, Share, Opportunities & Competitive Analysis, 2018 – 2026

Market Excerpt

The global industrial hose market was worth US$ 10.75 billion in 2017 and is expected to grow at a CAGR of 4.8% from 2018 to 2026. The booming construction and real estate industries due to economic stability are 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 overall demand for industrial hoses worldwide. To promote mechanized farming, governments across the globe are offering incentives and flexible credit policies for the purchase of automated farming equipment. In the current market scenario, the global industrial hose industry is marred by a lack of product differentiation, which has resulted in price wars among manufacturers and, as a result, slow market value growth.

Market Synopsis

Polyurethane hoses to register maximum adoption

The selection of the right raw material for manufacturing hoses used for varied applications is crucial. Common parameters taken into account while selecting a raw material for manufacturing hose include its compatibility with chemicals, weight, resistance to abrasion, and pressure rating, among others. Hoses made from polyurethane are presumed to witness strong adoption during the forecast period on the back of their superior characteristics in terms of tear and abrasion resistance, flexibility, tensile strength, weight, etc. In addition, the excellent resistance offered to petroleum-based products such as gasoline, kerosene, and oil makes polyurethane hoses ideal for applications in various industry verticals, including oil and gas, mining, chemicals, and agriculture. In view of this positive outlook, a large number of established manufacturers have begun offering industrial hoses made from polyurethane.

Asia Pacific to Remain an Engine of Growth Throughout the Forecast Period

In 2017, Asia Pacific was the largest industrial hose market worldwide. The value contribution from Asia Pacific stood at 41.5% in the same year. China, India, and Japan represent major industrial hose markets, collectively accounting for over 70% of the market value in Asia Pacific. The positive outlook of the construction and industrial sectors bodes well for market growth in the region. China is one of the largest construction equipment manufacturers in the world. According to the China Construction Machinery Association, Chinese construction equipment sales will exceed US$ 87.0 billion in 2018. Chinese construction equipment exports will also increase significantly, reaching US$ 20.0 billion in 2018 from US$ 14.6 billion in 2017. Similarly, with the increasing modernization of agricultural practices, demand for large, advanced agricultural machinery is on the rise. All these developments augur well for the futuristic market's growth. While developed markets such as North America and Europe witnessed sluggish growth during the first half of this decade, industrial output will surge in the coming years, with markets showing economic stability. The replacement of aging industrial hoses with advanced hoses having better characteristics will also keep market demand afloat in developed economies.

Farm mechanization and a resurgence in the automotive and manufacturing sectors are driving market demand.

Based on end-use, the global industrial hose market is classified into construction & mining, agriculture, automotive, industrial manufacturing, oil & gas, food & beverage, and others (pharmaceuticals, utilities, etc.). Because hoses are essential components of industrial equipment, their growth corresponds to increases in industrial output and, as a result, demand for heavy machinery. A resurgence in industrial production, agricultural process automation, and strong demand for automobiles worldwide will aid the demand for industrial hoses. In addition, the influx of population in urban areas, especially in emerging economies, has increased construction activities in the region. For instance, with the Indian population estimated to grow by a staggering 150 million by 2030, the construction market in India will grow almost twice as fast as China, becoming the third largest construction market by 2021 and driving demand for industrial hoses.

Key companies profiled in the research study include Gates Corporation (the U.S.), Eaton Corporation Plc (the U.K.), Parker Hannifin Corporation, RYCO Hydraulics Pty Ltd. (Australia), Piranha Hose Products, Inc. (the U.S.), Polyhose India Pvt. Ltd. (India), Dyna Flex, Inc. (the U.S.), Kurt Manufacturing Co., Inc. (the U.S.), MAC Tubi S.p.A. (Italy), and ZEC S.p. (ZEC S.

Periods of History and Forecast

2016 : Historic year.

2017: Base Year

2018–2026: Forecast Period

This research study provides qualitative as well as quantitative insights for each segment and sub-segment from 2016 to 2026, considering 2017 as the base year for the research. The CAGR (compound annual growth rate) for each segment and sub-segment is calculated for the forecast period from 2018 to 2026.

Report Scope by Segments

Key segments covered in the report are as follows:

Material Segment (US$ BN; 2016-2026)

  • Polyurethane
  • Rubber
  • PVC
  • Silicone
  • Others

Vertical End-Use Segment (2016-2026; US$ BN)

  • Construction and Mining
  • Agriculture
  • Industrial Manufacturing
  • Automotive
  • Chemical and Oil & Gas
  • Food & Beverage
  • Others (pharmaceuticals, utilities, etc.)

Geography (2016-2026; USD Billion)

  • North America
    • United States
    • rest of North America
  • Europe
    • United Kingdom
    • Germany
    • France
    • Rest of Europe
  • Asia-Pacific (APAC)
    • China
    • Japan
    • India
    • Rest of Asia Pacific
  • Rest of the World (RoW)
    • Middle East and Africa (MEA)
    • Latin America

Frequently Asked Questions:

The market for Industrial Hose is expected to reach US$ 10.75 Bn in 2026.

The Industrial Hose market is expected to see significant CAGR growth over the coming years,at 4.8%.

The report is forecasted from 2018-2026.

The base year of this report is 2017.

Gates Corporation,Eaton Corporation Plc,Parker Hannifin Corporation,RYCO Hydraulics Pty Ltd.Piranha Hose Products, Inc. are some of the major players in the global market.

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Published Date:  Jul 2018
Category:  Industrial Goods
Report ID:   59241
Report Format:   PDF
Pages:   120
Rating:    4.5 (65)
Delivery Time: 24 Hours to 48 Hours   
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