NEW
YORK, July 15, 2024 /PRNewswire/ -- The global
industrial hose market size is estimated to grow by USD 2.65 billion from 2024-2028, according to
Technavio. The market is estimated to grow at a CAGR of
4.36% during the forecast period. Increasing demand for
PVC is driving market growth, with a trend
towards rising demand for hydraulic rubber hoses in
agriculture sector. However, fluctuations in raw material
prices poses a challenge. Key market players include
Bridgestone Corp., Continental AG, Eaton Corp. Plc, Flexaust Inc.,
Gates Industrial Corp. Plc, Hose Master LLC, Kanaflex Corp. Co.
Ltd., Kuriyama of America Inc., Kurt Manufacturing, NORRES
Schlauchtechnik GmbH, Pacific Echo Inc., Parker Hannifin Corp.,
RYCO Hydraulics Pty Ltd., Salem Republic Rubber Co., Semperit AG
Holding, Smiths Group Plc, Sun Flow Inc., Transfer Oil Spa,
Trelleborg AB, and UIP International Inc..
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Industrial Hose
Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
4.36%
|
Market growth
2024-2028
|
USD 2650.8
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
4.11
|
Regional
analysis
|
APAC, North America,
Europe, Middle East and Africa, and South America
|
Performing market
contribution
|
APAC at 58%
|
Key
countries
|
US, China, Japan,
Germany, and India
|
Key companies
profiled
|
Bridgestone Corp.,
Continental AG, Eaton Corp. Plc, Flexaust Inc., Gates Industrial
Corp. Plc, Hose Master LLC, Kanaflex Corp. Co. Ltd., Kuriyama of
America Inc., Kurt Manufacturing, NORRES Schlauchtechnik GmbH,
Pacific Echo Inc., Parker Hannifin Corp., RYCO Hydraulics Pty Ltd.,
Salem Republic Rubber Co., Semperit AG Holding, Smiths Group Plc,
Sun Flow Inc., Transfer Oil Spa, Trelleborg AB, and UIP
International Inc.
|
Market Driver
The agricultural industry is a significant contributor to the
global economy, accounting for approximately 3.5% of the world's
Gross Domestic Product (GDP). This sector involves the cultivation
of plants and animals for food, fiber, and other essential
products. Industrial hoses play a crucial role in enhancing
agricultural processes through their usage in various applications.
Hydraulic rubber hoses, in particular, are extensively employed in
agricultural machinery for conveying seeds, fertilizer, and fluids
for irrigation. Major industrial hoses used in agriculture include
spray hoses, hydraulic hoses, fittings, valves, and hose
assemblies. The increasing demand for food due to population growth
drives the agricultural industry to improve crop yield, leading to
a higher usage of industrial hoses. Hydraulic rubber hoses offer
superior leak protection and flexibility, making them an ideal
replacement for traditional plastics and metal pipes in extreme
agricultural environments. The global agricultural industry's
expansion is expected to boost the demand for industrial hoses
during the forecast period.
The industrial hose market is experiencing significant growth
due to increasing trends in performance and safety. HVAC vacuum
hoses, coolant systems, fuel systems, air conditioning systems,
brake systems, power steering systems, and transmission systems all
rely on industrial hoses for optimal functionality. Hygienic
solutions and regulatory requirements, such as NSF certification,
are driving demand for oil-resistant hoses made with high-strength
fibers and steel wires. Workplace safety and environmental concerns
are also key factors, with a focus on preventing workplace
accidents and minimizing damage. The agriculture and chemical
industries, as well as Electric Vehicles (EVs), are major consumers
of industrial hoses. Brands like Gates, Ryco Hydraulics,
Continental, Kurt, NORRES, Colex International, and PVC material
suppliers, are leading the market. Hydraulic machines and transfer
oil systems are also significant applications. OICA and other
industry associations play a crucial role in setting standards and
ensuring quality.
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Market Challenges
- The industrial hose market relies heavily on rubber and steel
as primary raw materials for manufacturing. However, the prices of
these materials experience significant fluctuations, posing
challenges to market growth. Rubber prices are influenced by the
global demand-supply imbalance, leading to unpredictability and
increased production costs. Similarly, steel prices are subjected
to instability due to fluctuating raw material prices and excess
production. The volatility in raw material prices negatively
impacts the profit margins of industrial hose vendors, making it a
hindrance to market expansion during the forecast period.
- The Industrial Hose Market faces several challenges in various
sectors. In energy conservation, there's a growing demand for hoses
that ensure efficient transfer of fluids, gases, and solids in
end-use industries like pipeline transport, mechanized farming, and
urban areas. In rural contexts, food demand drives the need for
hoses in hosepipes. Skilled workers are essential for hose
manufacturing and installation, especially in the automotive
sector, where hoses are used in vehicles and electric vehicles
(EVs). Autonomous driving and new mobility services require hoses
that can withstand diverse operating conditions. Material type and
media type are crucial factors. Vertical industries like
construction and mining need hoses that can handle high pressure
and diameter. Investment in infrastructure and vehicle production
increases the adoption of hoses. Regulations and standards ensure
safety and quality, while technology drives customized industrial
hoses. Hoses transfer water, oil, gases, and solid materials.
Different components, such as welds, ensure durability and
efficiency. Rubber, metal, and silicone are common materials used
in industrial hydraulic and pneumatic hoses.
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Segment Overview
This industrial hose market report extensively covers market
segmentation by
- Application
- 1.1 Oil and gas
- 1.2 Chemicals
- 1.3 Food and beverages
- 1.4 Automotive
- 1.5 Others
- Material
- 2.1 Polyurethane
- 2.2 Polyvinyl chloride
- 2.3 Silicone
- 2.4 Rubber
- 2.5 Others
- Geography
- 3.1 APAC
- 3.2 North America
- 3.3 Europe
- 3.4 Middle East and
Africa
- 3.5 South America
1.1 Oil and gas- In the oil and gas sector,
industrial hoses play a crucial role in transporting various
petroleum products, including oil and gas, on both land and water.
These hoses are manufactured using materials like nitrile rubber,
PVC, and styrene-butadiene rubber (SBR). Nitrile rubber hoses offer
superior resistance to abrasion, tears, and oil and solvents,
making them suitable for the oil and gas industry. SBR hoses
exhibit excellent water resistance, heat and abrasion resistance,
low-temperature flexibility, and heat aging properties. The
increasing number of oil and gas extraction activities in the
Middle East and the US will boost
the demand for industrial hoses. The rise in unconventional oil and
gas sources necessitates advanced well completion and stimulation
methods such as hydraulic fracturing, acidizing, and other
techniques. Hydraulic fracturing is a significant process in shale
gas extraction, leading to a surge in exploration and production
(E&P) projects. Major vendors like Parker-Hannifin,
Eaton, and Continental AG offer
industrial hoses designed for the oil and gas industry's typical
working pressures. For instance, Parker-Hannifin's GlobalCore range
of hoses adheres to ISO 18752 standards and comes in Standard,
ToughCover, and SuperTough cover options, making them ideal for oil
and gas exploration. Eaton's
EHP001 - BLACKCAT FRAC Hose boasts up to 700 times greater abrasion
resistance than traditional rubber hoses. These product offerings
are expected to fuel the growth of the oil and gas segment and,
consequently, the global industrial hose market during the forecast
period.
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analysis including forecast (2024-2028) and historic data
(2017-2021) - Download a Sample Report
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reports
The global hydraulic hose and fittings market is experiencing
robust growth driven by increasing demand in construction,
agriculture, and industrial sectors. Key players are focusing on
product innovation and expanding their distribution networks.
Technological advancements, such as the development of durable and
high-pressure resistant hoses, are enhancing market potential.
Additionally, the rising need for efficient hydraulic systems in
heavy machinery is boosting market demand. Asia-Pacific is emerging as a significant
market due to rapid industrialization and infrastructure
development. Sustainability trends are also influencing the market,
with a shift towards eco-friendly materials.
Research Analysis
The Industrial Hose Market is experiencing significant growth
due to the increasing demand for fluids transportation in various
industries such as Agriculture, Chemicals, and Energy. The market
is driven by the adoption of mechanized farming techniques in
Agriculture and the increasing investment in infrastructure for
vehicle production and hydraulic machines in manufacturing. The use
of customized industrial hoses for transporting chemicals and
fluids in OICA (On-Offshore Installation and Construction)
applications and the growing trend towards energy conservation in
industries are also boosting market growth. The market is expected
to grow further with the increasing adoption of hoses in EVs
(Electric Vehicles) and the implementation of regulations and
standards for hose safety and performance. The use of advanced
materials like PVC and technology like pressure sensors in
industrial hoses is further enhancing their functionality and
efficiency.
Market Research Overview
The Industrial Hose Market encompasses a wide range of
applications, primarily in the Agriculture, Chemicals, and End-use
industries. The market includes various types of hoses such as
Chemical hoses, Hydraulic hoses, PVC hoses, and more. Industrial
hoses are used for transferring fluids, gases, and solids in
various operating conditions. The market is driven by factors such
as the adoption of hoses in Hydraulic machines, Mechanized farming,
and Urban areas, as well as the increasing demand for food in Rural
contexts. The market is diverse, with various material types and
media types including Rubber, Metal, and Silicone hoses. Industrial
hoses are used in various industries such as Automotive sector,
particularly in Electric vehicles (EVs), Autonomous driving, and
New mobility services. The market is also influenced by regulations
and standards, including those set by OICA and NSF. Technology
plays a significant role in the market, with advancements leading
to customized industrial hoses, fast and efficient transfer, and
cost-effective solutions. Different components such as welds,
performance, and materials like high-strength fibers and steel
wires, are essential considerations in the market. The market is
also influenced by factors such as energy conservation, investment
in infrastructure, and workplace safety concerns.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Application
-
- Oil And Gas
- Chemicals
- Food And Beverages
- Automotive
- Others
- Material
-
- Polyurethane
- Polyvinyl Chloride
- Silicone
- Rubber
- Others
- Geography
-
- APAC
- North America
- Europe
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
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Contacts
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Email: media@technavio.com
Website: www.technavio.com/
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