The Global Industrial Hose Market is projected to reach $14.81 billion by 2023. It is estimated to grow at a CAGR of 5.6% between 2017 and 2023.
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Industrial Hose Company analysed in report are 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).
“The Industrial Hose market is estimated to witness significant growth between 2017 and 2023”
Key factors driving the growth of the Industrial Hose include increasing infrastructure-related developments and growing demand for robust industrial hoses in critical applications. Illustrative segmentation, analysis, and forecast pertaining to the industrial hose market based on media type, material, industry, and geography have been conducted to provide an overall view of the industrial hose market.
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Industrial hose market for automobile industry expected to grow at highest CAGR during forecast period
The market for the automobile industry is expected to grow at the highest CAGR between 2017 and 2023.
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In the automobile industry, industrial hoses are used in radiators and heaters, hydraulic systems, power steering systems, and braking systems. These hoses are also used for the refueling of commercial as well as private automobiles and aircraft.
Moreover, the growing applications of hoses in traditional as well as electric and hybrid electric vehicles drive the industrial hose market growth.
Market for hot water and steam media type expected to grow at highest CAGR during forecast period
Hot water and steam media industrial hoses are used in compressors, blowing machines, spray guns, and sprayers. Water and infrastructure industries primarily use hoses to transfer hot water and steam media.
These hoses are also used in chemicals, mining, oil & gas, and pharmaceuticals industries. Moreover, increasing industrialization and urbanization create demand for industrial hoses, further driving the industrial hose market.
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Industrial hose market in APAC expected to grow at highest CAGR during forecast period
The industrial hose market in APAC is expected to grow at the highest CAGR between 2017 and 2023. APAC is expected to witness rapid growth in the industrial hose market in the near future owing to rapid urbanization, increasing demand for automobiles, modernization of agricultural processes, and increasing demand for robust hoses from agriculture, infrastructure, and automobile industries.
Moreover, high population density and growing per capita income of this region, along with large-scale industrialization and urbanization, are driving the growth of the industrial hose market in APAC.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with people holding key positions across several regions.
Research Coverage: The report defines, describes, and forecasts the industrial hose market based on media type, material, industry, and geography. It provides detailed information regarding the major factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the growth of the industrial hose market.
It also analyzes the competitive developments such as joint ventures, collaborations, agreements, contracts, partnerships, mergers and acquisitions, and product launches carried out by the key players to grow in the market.