US Hose & Belt Demand to Rise 3.1% Annually in Nominal Terms to 2023
Rising Production of Equipment and Machinery Will Drive Advances
CLEVELAND, Nov. 27, 2019 /PRNewswire/ -- Demand for hoses and belts in the US is forecast to increase 3.1% yearly in nominal terms through 2023, according to Hoses & Belts: United States, a report recently released by Freedonia Focus Reports. Gains will be supported by rising use of higher priced, higher quality hoses and belts, particularly among the oil and gas, mining, and transportation equipment sectors. However, the increased durability of these products will restrain faster advances.
More information about the report is available at:
https://www.freedoniafocusreports.com/Hoses-Belts-United-States-FF50010/?progid=91541
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 2023, which will benefit suppliers of related hoses.
US hose and belt shipments are projected to grow 2.2% per year through 2023. Increases in domestic demand, including the construction and expansion of domestic manufacturing facilities, will spur US shipments, as will rising exports to key destinations such as Mexico.
These and other key insights are featured in Hoses & Belts: United States. This report forecasts to 2023 US hose and belt demand and shipments in nominal US dollars at the manufacturer level. Total demand is segmented by product in terms of:
- flat belts
- vehicular hose
- industrial hose
- nonflat belts
- fluid power hose
- air and water hose
To illustrate historical trends, total demand and the various segments; shipments; trade; and the number of US firms, establishments, and employment are provided in annual series from 2008 to 2018.
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 figures.
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.
Analysis is intended to guide the busy reader through pertinent topics in rapid succession, including:
- total historical market size and industry output
- segmentation by products and markets
- identification of market drivers, constraints, and key indicators
- segment-by-segment outlook in five-year forecasts
- a survey of the supply base
- suggested resources for further study
Press Contact:
Corinne Gangloff
+1 440.684.9600
[email protected]
SOURCE The Freedonia Group
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