DUBLIN--(BUSINESS WIRE)--The "Industrial Hose Market by Material (Natural Rubber, Nitrile Rubber, Polyurethane, PVC), Media, Industry (Automotive, oil & gas, Chemicals, Infrastructure, food & beverages, agriculture), and Geography - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The industrial hose market is likely to grow from USD 12.8 billion in 2019 to USD 17 billion by 2024.
The growth of this market is mainly driven by factors such as increasing demand for robust industrial hoses in critical applications, growing infrastructure-related developments, and rising demand for PVC material. Increasing demand for automobiles worldwide and modernization of agriculture processes are expected to create significant growth opportunities for players in the industrial hose market during the forecast period. However, the dearth of technical know-how of industrial hoses restrains the growth of the market.
Natural rubber hoses to hold a significant share of the industrial hose market by 2024
High demand for natural rubber in various industrial segments provides opportunities for the growth of the industrial hose market. The automobile market is also anticipated to increase the demand for natural rubber production in Thailand and Indonesia. The natural rubber has unique physical and chemical properties, including susceptibility to vulcanization. Hence, increasing demand for natural rubber hoses in the agriculture, mining, construction, and food processing industries is expected to provide ample opportunities for the industrial hose market.
Automotive industry to hold a significant share of the industrial hose market by 2024
The industrial hose market for the automotive industry accounted for the largest share in 2018. In automobiles, hoses are used to carry fuel and lubricants. These are also used in cooling and hydraulic systems. Advancements, such as autonomous vehicles, electric vehicles, and hybrid electric vehicles in the automotive industry and rising demand for automobiles across the world are expected to provide growth opportunities to hose manufacturers. Moreover, the growing demand for automobiles in emerging economies, such as China, India, Australia, and Japan, is expected to increase the demand for industrial hoses in the coming years.
APAC to be the largest shareholder in the industrial hose market by 2024
APAC is expected to hold the largest share of the industrial hose market during the forecast period. APAC is a potential market for industrial hoses owing to rising 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 driving the growth of the industrial hose market. Similarly, end-user industries, such as oil & gas, automotive, infrastructure, chemicals, and pharmaceuticals, are expected to create enormous opportunities for industrial hose providers.
- Increasing Demand for Robust Industrial Hoses in Critical Applications
- Growing Infrastructure-Related Developments
- Rising Demand for PVC Material
- Dearth of Technical Know-How of Industrial Hoses
- Growing Demand for Automobiles Worldwide
- Increasing Modernization of Agricultural Processes
- Long Lead Time
- Lack of Product Differentiation
Key Players Profiled
- Gates (US)
- Eaton (Ireland)
- Parker Hannifin (US)
- RYCO Hydraulics (Australia)
- Transfer Oil S.p.A. (Italy)
- Kurt Manufacturing (US)
- Piranha Hose Products (US)
- NORRES (Germany)
- Colex International (UK)
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industrial Hose Market, By Material
7 Industrial Hose Market, By Media
8 Industrial Hose Market, By Industry
9 Geographic Analysis
10 Competitive Landscape
11 Company Profiles
- Colex International Ltd.
- Eaton Corporation PLC
- Flexaust Inc.
- Gates Industrial Corporation PLC
- Kanaflex Corporation Co. Ltd.
- Kuriyama of America Inc.
- Kurt Manufacturing
- Merlett Tecnoplastic S.p.A.
- NORRES Schlauchtechnik MBH
- Pacific Echo Inc.
- Parker Hannifin Corporation
- Piranha Hose Products Inc.
- RYCO Hydraulics
- Salem-Republic Rubber Company
- Semperit (Semperflex)
- Titeflex Corporation
- Transfer Oil S.p.A.
- Trelleborg Corporation
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