US Hose & Belt Demand Bolstered by Transport Equipment, Machinery, Oil & Gas Sectors

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May 16, 2022, 15:42 ET

Rising sales of high quality items to boost value gains

CLEVELAND, May 16, 2022 /PRNewswire/ -- Demand for hoses and belts in the US is forecast to grow 4.6% yearly in nominal terms through 2026, according to Hoses & Belts: United States, a report recently released by Freedonia Focus Reports. Some demand growth will stem from the use of higher quality hoses and belts at a higher price point, particularly among the oil and gas, mining, and transportation equipment sectors. Rising transportation equipment output will spur demand for vehicular hoses and nonflat belts. Increasing production of machinery will boost sales of industrial hose, fluid power hose, flat belts, and nonflat belts. Domestic oil and gas production is expected to rise through 2026, which will benefit suppliers of related hoses. However, the increased durability of hose and belt products will restrain further gains in the aftermarket.

US hose and belt shipments are projected to see gains of 2.9% per year through 2026. Increases in domestic demand, as well as rising exports to key destinations such as Mexico, will spur US shipments. Growth in shipments will also be driven by the construction and expansion of domestic manufacturing facilities.

These and other key insights are featured in Hoses & Belts: United States. This report forecasts to 2022 and 2026 US hose and belt demand and shipments in nominal US dollars at the manufacturer level. Total demand is segmented by product in terms of:

vehicular hose
flat belts
nonflat belts
industrial hose
air and water hose
fluid power hose

To illustrate historical trends, total demand and the various segments, total shipments; and trade are provided in annual series from 2011 to 2021. The number of US firms, establishments, and employment are provided in annual series from 2009-2019.

Hoses and belts may be constructed from rubber and plastic. Hose fittings are excluded from the scope of this report. Re-exports of hoses and belts are excluded from demand and trade figures.

More information about the report is available at:
https://www.freedoniafocusreports.com/Hoses-Belts-United-States-FF50010/?progid=91541

About Freedonia Focus Reports
Each month, The Freedonia Group – a division of MarketResearch.com – publishes over 20 new or updated Freedonia Focus Reports, providing fresh, unbiased analysis on a wide variety of markets and industries. Published in 20-30 pages, Focus Report coverage ranges from raw materials to finished manufactured goods and related services such as freight and construction. Additional Industrials reports can be purchased at Freedonia Focus Reports or MarketResearch.com.

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