The new report by Expert Market Research titled, ‘Global Industrial Hose Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global industrial hose market, assessing the market based on its segments like material, media, industry and major regions like North America, Europe, Asia Pacific, Latin America, Middle East and Africa. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020 ): USD 14.1 billion
- Forecast CAGR (2021-2026 ): 6%
- Forecast Market Size (2026 ): USD 19.7 billion
The market for industrial hose has seen substantial growth due to factors such as its rising demand in critical applications and growing trends related to infrastructure activities. Also, increased knowledge across different industries offers an enormous market opportunity for key players in the industrial hose market. Industrial hoses are used to suction and discharge chemicals because they are chemical and abrasion resistant and can withstand high temperatures and pressure. The growing global demand for autos, as well as the increasing modernization of farming methods, are expected to present the business with huge potential opportunities. Polyurethane fabric hoses are expected to hold a major proportion of the global industrial hose market over the forecast period.
Industry Definition and Major Segments
The term “industrial hose” refers to a broad type of rubber hose used in industry. The term “rubber hose” refers to the hose’s external cover rather than the inner tube’s composition.
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Based on the material, the industry is divided into:
- Natural Rubber
- Polyvinyl Chloride (PVC)
- Nitrile Rubber
Based on the media, the industry is divided into:
- Air and Gas
- Hot Water and Steam
- Food and Beverage
Based on the end use industry, the industry is divided into:
- Oil & Gas
- Food and Beverage
- Water & Wastewater
The regional markets for industrial hose include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Geographically, due to the region’s rising automotive and agriculture industries, as well as increased infrastructure operations, the Asia Pacific region is expected to occupy a substantial share of the market over the forecast period, with key demand coming from nations such as China and India. The growing number of infrastructure-related projects is driving private participation in infrastructure (PPI) to invest more, resulting in an increase in hose demand. Infrastructural developments in APAC are primarily driving rapid urbanisation and industrialization; this trend is driving demand for hoses, which are used for a variety of purposes, including material handling in the construction industry and transporting various types of fluids from one location to another in various industries.
Key Market Players
The major players in the market are Eaton Corporation PLC, Gates Industrial Corporation PLC, Parker Hannifin Corporation, Transfer Oil S.p.A., Kurt Manufacturing, Piranha Hose Products, Inc., NORRES Schlauchtechnik GmbH, Colex International Ltd., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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