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Oct 1, 2020 12:04 PM ET

Industrial Hose Market is set for a Rapid Growth and is Expected to Reach USD 19.74 Billion by 2026

iCrowd Newswire - Oct 1, 2020

Zion Market Research has published a new report titled “Industrial Hose by Material (Natural Rubber, Nitrile Rubber, Polyurethane, and PVC), by Media (Water, Oil, Hot Water and Steam, Air and Gas, Food and Beverage, and Chemical), by End-Use Industry (Automotive, Oil & Gas, Chemicals, Infrastructure, Food & Beverages, and Agriculture) Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 – 2026.” According to the report, the industrial hose market accounted for USD 12.6 Billion in 2018 and is expected to reach USD 19.74 Billion by 2026, growing at a CAGR of around 6.2% between 2019 and 2026.

The global industrial hose market is anticipated to observe significant growth over the years. A hose is a reinforced vessel that is flexible and used to transfer fluids from one location to another. These liquid transfer lines are mostly used in heavy industries such as mining, construction, and geotechnical. The rising infrastructure development, especially in emerging economies such as India, China etc., is one of the major driving factors for the industrial hose market. Moreover, the increased demand for polyvinyl chloride (PVC) has also upsurge the demand for the industrial hose. The rising demand from the automobile industry and increased modernization especially in agricultural processes are expected to provide huge growth opportunities for the overall industrial hose market.

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The industrial hoses market can be segmented into material, media, and end-user industries. Based on the material, the industrial hoses market can be segmented into natural rubber, nitrile rubber, PVC, silicone, polyurethane, and others (EPDM, UPE). The hoses made of polyurethane are expected to be the fastest-growing segment in the upcoming years. This is mainly because the polyurethane can be tailored to be flexible or rigid accordingly. They also have greater resistance to oil, gasoline, kerosene and other petroleum products which makes them suitable for mining, oil & gas, chemical industries etc.

Based on the media segment, the industrial hoses market can be segmented into the water, oil, hot water and steam, air and gas, food and beverage, and chemical. Based on the end-use industry, the industrial hoses market can be segmented into automotive, infrastructure, oil & gas, pharmaceuticals, food & beverages, water & wastewater, chemicals, mining, agriculture, and others. The automotive industry has the largest share of the market in terms of end-use of industrial hose.

Some key players in operating in the industrial hose market are Gates, Eaton, Parker Hannifin, RYCO Hydraulics, Transfer Oil S.p.A., Kurt Manufacturing, Piranha Hose Products, NORRES, and Colex International among others.

This report segments the global industrial hoses market as follows:

Global Industrial Hoses Market: Material Segment Analysis

Global Industrial Hoses Market: Media Segment Analysis

Global Industrial Hoses Market: End-Use Industry Segment Analysis

Global Industrial Hoses Market: Regional Segment Analysis

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Keywords:    Industrial Hose Market

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