The industrial hose market is expected to be valued at USD 14.81 Billion by 2023, growing at a CAGR of 5.6% between 2017 and 2023. The growth of this market can be attributed to the increasing demand for robust industrial hoses in critical applications and growing infrastructure-related developments.
The report "Industrial Hose Market by Material (PVC, Polyurethane, Rubber, Silicone, Others), Media Type, Industry (Oil & Gas, Automobile, Water, Pharmaceuticals, Food & Beverages, Chemicals, Infrastructure, Agriculture, Mining), and Region - Global Forecast to 2023", The industrial hose market is estimated to grow from USD 10.67 Billion in 2017 to USD 14.81 Billion by 2023, at a CAGR of 5.6% between 2017 and 2023. Growing infrastructure-related developments and increasing demand for robust industrial hoses in critical applications are some of the driving factors for the growth of the market.
Browse 65 Market Data Tables and 57 Figures spread through 128 Pages and in-depth TOC on "Industrial Hose Market - Global Forecast to 2023"
Water media type expected to hold major share of industrial hose market during forecast period
Hoses are used for the suction and discharge of water in various applications, such as irrigation; gardening and fire equipment; refrigeration equipment, and food processing equipment.
Moreover, chemicals, agriculture, mining, food and beverages, infrastructure, and other industries use hoses to transfer water from one location to another, driving the industrial hose market.
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Market for polyurethane material expected to grow at high CAGR between 2017 and 2023
Polyurethane is a polymer that possesses good abrasion and tear resistance, high tensile strength, and low compression set, along with good flexibility. It also exhibits good chemical resistance with excellent stability in rough atmospheric conditions.
It has exceptional resistance to gasoline, oil, kerosene, and other petroleum-based products, making it suitable for use in industries such as oil and gas, chemicals, mining, food and beverages, and agriculture. A large number of players offer industrial hoses manufactured from polyurethane.
APAC expected to hold major share of industrial hose market between 2017 and 2023
APAC is expected to hold the largest share of the industrial hose market during the forecast period. It is expected that automobile, infrastructure, and agriculture industries will lead the growth of the market during the forecast period.
Most of the demand for hoses comes from China, Japan, and India. Increasing infrastructure-related developments in China and India, and the modernization of agricultural processes further drive the industrial hose market in the region.
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Eaton (Ireland), PARKER (US), Gates (US), RYCO Hydraulics (Australia), Transfer Oil (Italy), Colex International Limited (UK), Kurt Manufacturing (US), NORRES Schlauchtechnik (Germany), PIRANHA HOSE PRODUCTS (US), Polyhose (India), Semperflex (Austria), United Flexible (US), UNAFLEX Industrial Products (US), Hose Master (US), Salem-Republic Rubber (US), Trelleborg (France), Terraflex (Israel), Kanaflex (US), Merlett Tecnoplastic (Italy), Pacific Echo (US), Suttner America (US), and Sun-Flow (US) are some of the major players in the industrial hose market.
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