Industrial Hose Market:
The GMI Research’s latest analysis reveals that the Industrial Hose Market is slated to register a higher CAGR over the forecast period. This is attributed to the strong demand for industrial hoses among several industries, the accelerating number of advancements, and the high adoption of industrial hoses manufacturers by utilizing polyurethane across numerous industries.
Industrial Hose Market’s leading Manufacturers:
- Gates Industrial Corporation
- RYCO Hydraulics
- Eaton
- Transfer Oil S.p.A.
- Kurt
- Continental AG
- Colex International Limited
- Kuriyama of America, Inc.
- Parker Hannifin Corp
- Alfa Gomma Spa
Industrial Hose Market Dynamics (including market size, share, trends, growth, forecast, and industry analysis)
Key Drivers
The strong demand for industrial hoses among numerous industries is a key driver surging the growth of the global industrial hose market size. Recently, there is an upsurge in demand for PVC material owing to its properties, including durability, chemical resistance, and corrosion resistance, which is leading to an increase in the demand for industrial hoses made up of PVC material. As per the industrial hose market report, there is rapid advancement in the agriculture industry by inducing the latest technology and new techniques like heavy-duty water suction, chemical suction transfer, discharge applications, and heavy-duty water suction, which need an industrial hose. The accelerating number of advancements will further energize the growth of the industrial hose market.
There are various ranges of industrial hoses and are utilized in several applications, which allows industries to select the accurate option according to their needs. Due to increasing industrialization, there is a massive growth in construction projects, which has various applications of industrial hose. This factor is expected to fuel the growth of the global industrial hose market. On the other hand, if hoses are not assembled in a proper manner or combined inappropriately, they may lead to fatal accidents, thus causing explosions and fire. Therefore, to avoid such situations, these practices are performed by technical expertise. However, the lack of technically skilled professionals will hinder the growth of the market.
Material Segment Drivers
Based on the material, the market is segmented into nitrile rubber, natural rubber, polyvinyl chloride (PVC), polyurethane, silicone, and others. The polyurethane is expected to rise at a faster CAGR over the forecast period due to its capability to be flexible and rigid according to its need. Polyurethane is resistant to kerosene, gasoline, and chemicals, which allows it to be utilized in several industries, including mining, oil & gas, agriculture, and chemicals. The high adoption of industrial hoses manufacturers by utilizing polyurethane in several sectors is further bolstering the market growth.
Regional Drivers
Based on the region, Asia-Pacific is projected to rise at a higher CAGR due to the rising consumption of oil, which has increased the number of refineries. Industrial hose is largely utilized in the oil & gas sector due to rising environmental issues as oil is inflammable in nature. These factors are projected to stimulate the market growth.
Industrial Hose Market Segmentation:
Segmentation by Material:
- Natural Rubber
- Nitrile Rubber
- Polyvinyl Chloride (PVC)
- Silicone
- Polyurethane
- Others
Segmentation by Media Type:
- Water
- Oil
- Hot Water & Steam
- Air & Gas
- Food & Beverage
- Chemical
Segmentation by Industry:
- Automotive
- Pharmaceuticals
- Infrastructure
- Oil & Gas
- Food & Beverages
- Chemicals
- Water & Wastewater
- Mining
- Agriculture
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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