Worldwide Industrial Hose Industry to 2027 - Players Include Eaton, Gates Industrial, Transfer Oil and Piranha Hose Products Among Others - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "Global Industrial Hose Market Report and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
According to the report, the global industrial hose market is projected to grow at a CAGR of 3.9% between 2022 and 2027 owing to the increasing demand for industrial hoses from various end-use industries.
Industrial hose is defined as an industrial component which is used to transfer industrial liquid from one place to another. Industrial hose comes with a flexible design and a shape like that of a reinforced vessel. The components of this product include a rubber or plastic tube.
It is a metal structure which enables the product to bear the stress of high pressure and has a cover made up of tough material to protect the hose from wear and abrasion. The toughness and reliability of industrial hoses are driving the product demand across various industrial sectors, thereby, propelling the growth of industrial hose market. Modern industrial hoses exhibit resistance to flame and are explosion proof.
The increasing demand for industrial hose in the construction industry to pump fluids with high viscosity such as ceramsite and mortar, is adding to the market growth. Apart from being easily replaceable and installable, industrial hoses do not require frequent replacement. This is a major advantage of the product favouring the small-scale construction projects. Over the forecast period, the rapid urbanisation and infrastructure development projects across the emerging economies are anticipated to propel the industrial hose market growth.
Meanwhile, industrial hoses are also deployed in the chemical and pharmaceutical plants to transfer reactive chemicals and solvents. The anticipated increase in the research and development activities in the chemical and pharmaceutical industry are likely to bolster the demand for hoses in the coming years.
The increasing deployment of tough automotive hoses to facilitate the transportation process of fuels, coolants, and antifreezes, among others, from one automotive component to another, is a key driving factor driving the demand for the product. In the coming years, the anticipated increase in the sale of new energy vehicles (NEV) and commercial buses and trucks is likely to optimise the industrial hose market outlook.
Furthermore, hoses are crucial in the agriculture sector to irrigate land and to provide fresh water to the fields where the cattle is. In addition to this, during the unfavourable weather conditions, hoses in agricultural areas can provide protection against floods or heavy rains by removing excess water from the field. Therefore, the thriving agriculture sector across the continents is further generating the demand for industrial hoses.
The technological advancements by the major market players aimed towards manufacturing industrial hoses with flexible liquid transfer rates to handle complex chemicals and hazardous fluids are some of the key trends in the industrial hose market, improving the market dynamics.
In terms of region, the Asia Pacific region accounts for a significant share in the market owing to the heightened application of industrial hoses for oil and gas operations due to the increasing demand for crude oil. Concurrently, the rapid industrialisation, across emerging economies such as India and China, is further bolstering the demand for automotive hoses, food and beverage hoses, material handling hoses, oil and petroleum hoses, among others.
The industrial hose market in North America, on the other hand, is anticipated to witness a remarkable growth owing to the rising agricultural activities across the United States of America and Canada.
The market can be divided on the basis of materials, medias, industries, and regions.
Market Segmentation by Material
- Synthetic Rubber
- Polyvinyl Chloride (PVC)
- Natural Rubber
Market Classification by Media
- Air and Gas
- Water and Steam
- Food and Beverage
Market Segmentation by Industry
- Chemicals and Pharmaceuticals
- Oil and Gas
- Food and Beverages
- Water and Wastewater
Market Breakup by Region
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the key players in the industrial hose market.
Some of the major key players explored in the report are as follows:
- Eaton Corporation plc
- Gates Industrial Corporation plc
- Parker-Hannifin Corporation
- Transfer Oil S.p.A.
- Kurt Manufacturing Company
- Piranha Hose Products, Inc.
- NORRES Schlauchtechnik GmbH
- Colex International Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/aokqz0
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900