Industrial Hose Market size is set to grow by USD 2.65 billion from 2024-2028, Increasing demand for pvc to boost the market growth, Technavio

NEW YORK, Aug. 12, 2024 /PRNewswire/ -- The global industrial hose market size is estimated to grow by USD 2650.8 mn from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 4.36% during the forecast period. Increasing demand for pvc is driving market growth, with a trend towards rising demand for hydraulic rubber hoses in agriculture sector. However, fluctuations in raw material prices poses a challenge. Key market players include Bridgestone Corp., Continental AG, Eaton Corp. Plc, Flexaust Inc., Gates Industrial Corp. Plc, Hose Master LLC, Kanaflex Corp. Co. Ltd., Kuriyama of America Inc., Kurt Manufacturing, NORRES Schlauchtechnik GmbH, Pacific Echo Inc., Parker Hannifin Corp., RYCO Hydraulics Pty Ltd., Salem Republic Rubber Co., Semperit AG Holding, Smiths Group Plc, Sun Flow Inc., Transfer Oil Spa, Trelleborg AB, and UIP International Inc..

Get a detailed analysis on regions, market segments, customer landscape, and companies - Click for the snapshot of this report

Key Market Trends Fueling Growth

The agricultural industry is a significant contributor to the global economy, accounting for approximately 3.5% of the world's Gross Domestic Product (GDP). This sector involves the cultivation of plants and animals for food, fiber, and other essential products. Industrial hoses play a crucial role in enhancing agricultural processes through their extensive use in agricultural machinery. Hydraulic rubber hoses, in particular, are widely adopted for applications such as pneumatic grain conveyors and irrigation systems. These hoses offer robust leak protection and flexibility, making them a preferred choice over traditional pipes. With the increasing global population and the resulting demand for food, the agricultural industry is undergoing rapid growth. This trend is expected to fuel the demand for industrial hoses, including hydraulic rubber hoses, during the forecast period. Some of the major industrial hoses used in agriculture are spray hoses, hydraulic hoses, fittings, valves, and hose assemblies. These hoses enable farmers to optimize their operations and improve crop yield, thereby contributing to the overall growth of the agricultural sector. 

The industrial hose market is experiencing significant growth due to increasing demands for high-performance hoses in various industries. HVAC vacuum hoses, coolant systems, fuel systems, air conditioning systems, brake systems, power steering systems, and transmission systems all rely on industrial hoses for optimal functionality. Hygienic solutions and regulatory requirements, such as NSF certification, are driving the demand for oil-resistant hoses made with high-strength fibers and steel wires. Workplace safety and environmental concerns are also key factors, with a focus on preventing workplace accidents and minimizing environmental damage. The agriculture, chemicals, and automotive sectors, including EVs, are major consumers of industrial hoses. Brands like Gates, Ryco Hydraulics, Continental, Kurt, NORRES, Colex International, and others, offer a range of PVC material hoses for hydraulic machines and transfer oil applications. OICA and industry leaders continue to innovate, developing new solutions for chemical hoses and addressing the needs of specific industries. 

Discover 360° analysis of this market. For complete information, schedule your consultation- Book Here!

Market Challenges

• The industrial hose market relies heavily on rubber and steel as primary raw materials for manufacturing. However, the prices of these materials experience significant fluctuations, posing challenges for vendors. Rubber prices are influenced by the global demand-supply imbalance, leading to unpredictable market conditions and increased production costs. Similarly, steel prices are subjected to instability due to fluctuating raw material prices and excess production. A decline in oil prices also impacts steel prices. These price fluctuations reduce vendors' profit margins, making it difficult to estimate production costs and hindering the growth of the industrial hose market during the forecast period.

For more insights on driver and challenges - Download a Sample Report

Segment Overview 

This industrial hose market report extensively covers market segmentation by

1. Application 
• 1.1 Oil and gas
• 1.2 Chemicals
• 1.3 Food and beverages
• 1.4 Automotive
• 1.5 Others
2. Material 
• 2.1 Polyurethane
• 2.2 Polyvinyl chloride
• 2.3 Silicone
• 2.4 Rubber
• 2.5 Others
3. Geography 
• 3.1 APAC
• 3.2 North America
• 3.3 Europe
• 3.4 Middle East and Africa
• 3.5 South America

1.1 Oil and gas- In the oil and gas sector, industrial hoses play a crucial role in transporting various petroleum products, including oil and gas, on both land and ocean platforms. These hoses are manufactured using materials such as nitrile rubber, PVC, and SBR. Nitrile rubber hoses offer superior resistance to abrasion, tears, and oil and solvent, making them ideal for the oil and gas industry. SBR hoses exhibit excellent water resistance, heat and abrasion resistance, low-temperature flexibility, and heat aging properties. The expanding oil and gas extraction activities in the Middle East and the US will fuel the demand for industrial hoses during the forecast period. With the rise in unconventional oil and gas sources, advanced well completion and stimulation methods like hydraulic fracturing, acidizing, and other techniques are gaining popularity. These methods require robust industrial hoses that can withstand high pressures and harsh conditions.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 - 2022) - Download a Sample Report

Research Analysis

The Industrial Hose Market is witnessing significant growth due to the increasing demand for fluid transfer solutions in various industries such as Agriculture, Chemicals, and Vehicle Production. The use of industrial hoses is essential in sectors like Mechanized Farming, where large-scale irrigation and chemical application require efficient and reliable fluid transfer systems. In the Chemicals industry, the need for customized industrial hoses made of materials like PVC and PVC-coated steel for handling corrosive fluids is on the rise. The adoption of hoses in Energy Conservation and Hydraulic Machines is also driving market growth. The shift towards Electric Vehicles (EVs) and the Investment in Infrastructure are expected to further boost demand. Technology advancements, including the development of high-pressure hoses and hoses that meet Regulations and Standards, are also contributing to market expansion.

Market Research Overview

The Industrial Hose Market encompasses a wide range of hose types used in various end-use industries for transferring fluids, gases, and solids. These industries include Agriculture for mechanized farming and irrigation, Chemicals for production and transportation, and OICA for oil and gas exploration. The market is driven by the increasing demand for energy conservation, urbanization, and food demand in rural contexts. Industrial hoses are used in Hydraulic machines, EVs, and the Automotive sector for efficient and cost-effective transfer of fluids. The market includes various hose types like Chemical hoses, PVC hoses, and customized industrial hoses. Material types include Rubber, Metal, and Silicone, while media types include Water, Oil, Gases, and different components like welds, performance, and different operating conditions. Regulations and standards like NSF and oil-resistant hoses ensure workplace safety and prevent workplace accidents and environmental damage. The market is also influenced by technology, investment in infrastructure, and the adoption of hoses in new mobility services and autonomous driving.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Application
• Oil And Gas
• Chemicals
• Food And Beverages
• Automotive
• Others
• Material
• Polyurethane
• Polyvinyl Chloride
• Silicone
• Rubber
• Others
• Geography
• APAC
• North America
• Europe
• Middle East And Africa
• South America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED