Industrial Hose - Global Market Outlook (2018-2027)
According to Stratistics MRC, the global industrial hose market is accounted for $10.89 billion in 2018 and is expected to reach $21.12 billion by 2027 growing at a CAGR of 7.6% during the forecast period. Increasing demand for polyvinyl chloride (PVC) and rising infrastructure-related developments are the factors driving the market. However, the lack of technical know-how of industrial hoses is hampering market growth.
A hose is a flexible and often reinforced vessel used to transfer fluids from one location to another. Industrial hose covers the broad spectrum of fluid transfer lines, including flow lines for fluids and gases in pneumatic, hydraulic, or process applications, as well as specialized uses in heavy industry such as mining, geotechnical, and construction. Industrial hose is usually application-specific; consultation with hose manufacturers regarding specific applications is typical.
By material, the polyurethane segment is likely to have a huge demand during the forecast period. Polyurethane is a plastic material, which exists in various forms. It can be tailored to be either rigid or flexible and is the material of choice for a broad range of end-user applications, such as building insulation, composite wood panels, insulation of refrigerators and freezers, and car parts. They have exceptional resistance to gasoline, oil, kerosene, and other petroleum-based products, making them suitable for use in industries, such as oil & gas, chemicals, mining, food & beverages, and agriculture.
Based on geography, Asia Pacific is estimated to have a lucrative growth during the forecast period. APAC is a potential market for industrial hoses owing to increasing urbanization, increasing demand for automobiles, and modernization of agricultural processes. High population density and growing per capita income of this region, along with large-scale industrialization and urbanization, are the driving factors for the growth of the market.
Some of the key players in global industrial hose market include Gates Industrial Corporation PLC, RYCO Hydraulics, Transfer Oil S.P.A., Eaton Corporation PLC, Parker Hannifin Corporation, Piranha Hose Products, Inc., Kurt Manufacturing, NORRES Schlauchtechnik MBH, Colex International Ltd., Kanaflex, United Flexible, Semperit AG Holding, Campbell Fittings, Inc., Continental AG, and Trelleborg AB.
• Wire Reinforced Products
• Textile Reinforced Products
• Hot Water and Steam
• Air and Gas
• Food and Beverage
• Polyvinyl Chloride (PVC)
• Other Materials
End Users Covered:
• Food & Beverages
• Oil & Gas
• Water & Wastewater
• Industrial Manufacturing
• Steel Works
• Other End Users
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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