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  • Hydraulic Hose Market Growth Analysis | 2023-2028

    Hydraulic Hose Market Growth Analysis | 2023-2028

    Hydraulic Hose Market Growth Analysis | 2023-2028
    Report code - SR2498 Published On : Apr,2023 No. of Pages: 150
    Hydraulic Hose Market Size, Share, Trends, Dynamics, Forecast, Growth Analysis - 2023-2028 See more...

    Market Insights

    The hydraulic hose market is estimated to grow at a healthy CAGR of 4.3% during 2023-2028 to reach an estimated value of USD 7.7 billion in 2028.

    Hydraulic-Hose-Market-Insights

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    What is a hydraulic hose?

    A hose is a flexible tube used to convey media for a specific purpose. A hydraulic hose is a type of hose used in a variety of hydraulic systems, as a flexible connection between two fluid ports. Hydraulic system uses pressurized hydraulic fluids to create mechanical output such as lifting, stamping, or forging. Hydraulic hoses are used to convey hydraulic fluid to or between components in a hydraulic system. Hydraulic hose generally works under high pressure; thus, are reinforced with some sort of flexible strength-enhancing windings, such as metal or textile. The reinforcement gives the hose flexibility and strength.

    Covid-19 Impact

    In the year 2020, the outbreak of the COVID-19 pandemic impacted all industries across the globe, such as construction, manufacturing, mining, oil & gas, and many more. Supply chain disruption, labor & material shortages, and lockdowns across the world were some of the major consequences of COVID-19 witnessed across all industries. The hydraulic hose market was no exception and recorded a decline of -10.3% in 2020 due to reduced demand from a wide array of industries.

    However, the market recovered from the disruption brought on by the COVID pandemic in the year 2021 owing to economic recovery, increased demand, and the reopening of global markets.

    Hydraulic Hose Market Report Highlights

    Market Size in 2028

    USD 7.7 billion

    Market Growth (2023-2028)

    4.3% CAGR

    Base Year of Study

    2022

    Trend Period

    2017-2021

    Forecast Period

    2023-2028

    Market Dynamics

    Major factors, such as the growing construction industry, expanding transportation industry, increasing capital expenditure in the mining industry, and surge in investment towards infrastructure development, are likely to be the key demand generators for hydraulic hoses during the forecast period. In addition, growth in the agriculture industry, modernization in agriculture equipment, and rapid urbanization and industrialization are expected to fuel the growth of the hydraulic hose market.

    Recent Market JVs and Acquisition: The market recorded a fair number of M&A activities over the years. Among several, the most noticeable one was the acquisition of Eaton’s hydraulic business segment by Danfoss in 2021. The acquisition allowed Danfoss to expand its market offerings, making it one of the biggest hydraulics companies in the world.

    Hydraulic-Hose-Market-Dynamics

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    Key Players

    The market is highly populated with the presence of several local, regional, and global players. Most of the major players compete in some of the governing factors including price, product offerings, regional presence, etc. The following are the key players in the hydraulic hose market:

    • Gates Corporation
    • Danfoss
    • Sumitomo Riko Company Limited
    • Parker-Hannifin Corp.
    • Bridgestone Corporation
    • Continental AG
    • Alfagomma S.p.A
    • Semperit Group
    • Manuli Rubber
    • Yokohama Rubber

    Segments Analysis

    By End-Use Industry Type

    The hydraulic hose market is segmented into agriculture, construction, industrial/manufacturing, mining, transportation, oil & gas, and others. The construction industry dominates the hydraulic hose market, driven by factors such as growing urbanization, rapid investment towards infrastructure developments, and economic growth. Hydraulic hoses in the construction industry are used in equipment, such as excavators, dump trucks, loaders, bulldozers, and pavers, to withstand the pressures necessary for lifting heavy loads of construction materials.

    Hydraulic-Hose-Market-Share-By-End-Use-Industry

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    By Reinforcement Type

    The market is segmented into wired-braided hoses, spiral-wired hoses, and textile-braided hoses. Wired-braided hoses are expected to remain the largest segment of the market during the forecast period, owing to increasing demand from medium- and high-pressure applications such as construction equipment, heavy-duty trucks, and fleet vehicle applications.

    Moreover, wired-braided hydraulic hoses provide burst resistance as well as flexibility, making them a preferable choice for a wide array of industries. Spiral-wired hoses are expected to witness the highest growth during the forecast period, owing to increasing demand from applications where extremely high pressure is encountered, such as heavy-duty machinery like mining excavators and off-road dump trucks.

    By Pressure Type

    The market is segmented into low-pressure hoses (less than 300 psi), medium-pressure hoses (300 to 3000 psi), high-pressure hoses (3000 to 6000 psi), and extremely high-pressure hoses (more than 6000 psi). High-pressure hoses are expected to maintain their dominance during the forecast period driven by increasing demand for high-pressure applications from the agriculture, manufacturing, mining, and construction industry.

    By Material Type

    The market is segmented into elastomer/rubber hoses, thermoplastic hoses, and others. Elastomer/rubber hoses held the largest share of the market. Elastomer/rubber hoses are in demand owing to their flexibility and provide excellent resistance to a variety of fluids, such as mineral oils, water, and petroleum products.

    Regional Insights

    Asia-Pacific is expected to remain the largest market for hydraulic hoses over the forecast period. In addition to that, the region is also likely to witness the highest growth in the coming years. Major factors, such as increasing construction activities owing to rapid urbanization and economic growth, expanding industrial sector, and huge capital investments towards automation and reducing carbon emissions are driving the growth of the hydraulic hose market in the region. China, India, South Korea, Japan, and ASIAN countries are the key economies playing a vital role in the region’s market.

    Hydraulic-Hose-Market-Regional-Insights

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    Critical Questions Answered in the Report

    • What are the key trends in the market?
    • How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
    • What is the impact of COVID-19 on the market?
    • What are the key strategies adopted by the major vendors to lead in the market?
    • What is the market share of the top vendors?

    Market Segmentation

    This report studies the market covering 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

    The hydraulic hose market is segmented into the following categories.

    By End-Use Industry Type

    • Agriculture
    • Construction
    • Industrial/Manufacturing
    • Mining
    • Transportation
    • Oil and Gas
    • Others

    By Reinforcement Type

    • Wired-Braided Hoses
    • Spiral-Wired Hoses
    • Textile-Braided Hoses

    By Pressure Type

    • Low-pressure hoses [less than 300 psi]
    • Medium-pressure hoses [300 to 3000 psi]
    • High-pressure hoses [3000 to 6000 psi]
    • Extremely High-Pressure Hoses [more than 6000 psi]

    By Tube Material Type

    • Elastomer/Rubber
    • Thermoplastic
    • Others

    By Pressure System Type

    • Static Pressure
    • Dynamic Pressure

    By Region

    • North America (Country Analysis: the USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

    Hydraulic-Hose-Market-Segmentation

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    Research Methodology

    This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s hydraulic hose market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

    More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.

    We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

    What Deliverables Will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth Analysis of the Hydraulic Hose Market

    How lucrative is the future?

    Market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country-level historical data and forecasts

    Which are the most attractive market segments?

    Market Segment Analysis and Forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirements?

    10% free customization

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.

    Frequently Asked Questions (FAQ)

    A hose is a flexible tube used to convey media for a specific purpose. A hydraulic hose is a type of hose used in a variety of hydraulic systems, as a flexible connection between two fluid ports. Hydraulic system uses pressurized hydraulic fluids to create mechanical output such as lifting, stamping, or forging. Hydraulic hoses are used to convey hydraulic fluid to or between components in a hydraulic system.

    The hydraulic hose market is likely to reach an estimated value of USD 7.7 billion in 2028.

    The hydraulic hose market is estimated to grow at a healthy CAGR of 4.3% over the next five years to reach a value of US$ 7.7 billion in 2028. Increasing demand from a wide array of industries post-COVID crises is the major factor fueling the market growth.

    Gates Corporation, Danfoss, Sumitomo Riko Company Limited, Parker-Hannifin Corp., Bridgestone Corporation, and Continental AG are some of the key players in the market.

    Asia-Pacific is likely to remain dominant in the hydraulic hose market during the forecast period, owing to rising urbanization, significant economic growth, and huge investment towards automation and industrialization.

    The construction industry is likely to maintain its dominance in the market in the next five years owing to a surge in investments towards infrastructure development, rapid urbanization, growing population, and significant economic growth in emerging economies.

    Major factors, such as the growing construction industry, expanding transportation industry, increasing capital expenditure in the mining industry, and surge in investment towards infrastructure development, are likely to be the key demand generators for hydraulic hoses during the forecast period. In addition, growth in the agriculture industry, modernization in agriculture equipment, and rapid urbanization and industrialization are expected to fuel the growth of the hydraulic hose market.

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