Hydraulic Hose Market

Hydraulic Hose Market Insights

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

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Introduction

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.

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 Drivers

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.

Covid-19 Impact

In 2020, 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.

Hydraulic Hose Market Segments' Analysis

Reinforcement Insights

"Wired-braided hoses segment accounted for the largest market share."

The hydraulic hose 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.

End-Use Industry Insights

"The construction industry segment accounted for the largest market share."

The 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.

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Pressure Insights

"High-pressure hoses segment accounted for the largest market share."

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.

Material Insights

"Elastomer/rubber hoses segment accounted for the largest market share."

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 accounted for the largest market share."

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.

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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

Note: The above list does not necessarily include all the top players in the market.

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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 market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

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)

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.

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 based on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

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