Market Insights
The Off-Highway Hydraulic Hose Market is estimated to grow at a healthy CAGR of 4.2% during the forecast period to reach a value of US$ 4.4 Billion in 2028
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 hoses are widely used in off-highway equipment such as construction machinery, agricultural machinery, and mining equipment. They play a critical role in transmitting hydraulic power to various parts of the equipment, enabling them to perform tasks such as lifting, pushing, pulling, and digging.
Market Dynamics
The demand for improved worksite productivity and the wide range of off-highway equipment, such as rock crushers, screeners, grinders, trenchers, agriculture tractors, harvesters, self-propelled sprayers, woodchippers, material-handling equipment, and large industrial pumps, are driving the growth of the off-highway hydraulic hose market.
The construction, mining, and agriculture industries are expanding globally, which is increasing the demand for off-highway equipment. Hydraulic hoses are essential components of these machines, as they provide the necessary power to operate the equipment.
In addition to that, the increase in the capital expenditure for the mining industry and growing infrastructure development are the key demand generators for off-highway hydraulic hoses during the forecast period. Additionally, growth in the agriculture industry, modernization in agriculture equipment, and rapid urbanization and industrialization are expanding the off-highway 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.
Segments Analysis
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Segmentations
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List of Sub-Segments
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Dominant and Fastest-Growing Segments
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End-Use-Industry-Type Analysis
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Agriculture, Construction, and Mining
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The demand for the off-highway hydraulic hose is estimated to grow at a substantial rate in the construction industry.
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Reinforcement-Type Analysis
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Wired-Braided Hoses, Spiral-Wired Hoses, and Textile-Braided Hoses
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Wired-braided hoses are expected to remain the major segment by reinforcement type over the forecast period.
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Pressure-Type Analysis
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Low-Pressure Hoses, Medium-Pressure Hoses, High-Pressure Hoses, and Extremely High-Pressure Hoses
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High-pressure hoses are expected to maintain their dominance during the forecast period.
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Tube material -Type Analysis
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Elastomer/Rubber, Thermoplastics, and Others
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Elastomer/Rubber hoses are expected to dominate the off-highway hydraulic hose market during the forecast period.
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Regional Analysis
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North America, Europe, Asia-Pacific, and the Rest of the World
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Asia-Pacific is anticipated to endure the largest market and is also likely to grow at the fastest rate over the forecast period.
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By End-Use Industry Type
The market is segmented into agriculture, construction, and mining. The construction industry dominates the off-highway hydraulic hoses market, driven by factors such as increasing population, rapid urbanization, government initiatives towards infrastructure developments, and economic growth. In addition to that, construction equipment operates under harsh conditions, including extreme temperatures, moisture, and abrasion.
Hydraulic hoses are designed to withstand these conditions and provide the necessary power to operate the equipment. Therefore, they are essential components of heavy-duty construction equipment. Off-highway 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.
By Reinforcement Type
The market is segmented into wired-braided hoses, spiral-wired hoses, and textile-braided hoses. Wired-braided hoses are anticipated to remain the largest segment of the market during the prediction period, due to the increasing demand from medium and high-pressure applications such as agricultural, construction equipment, and off-road dump trucks.
In addition to that, wired-braided hydraulic hoses provide burst resistance as well as flexibility, making them a desirable choice for a wide range of applications. Also, wire-braided hydraulic hoses are cost-effective compared to other types of hydraulic hoses. They provide the necessary strength and durability for off-highway equipment at a lower cost than other types of hoses, making them a popular choice.
By Pressure Type
The market is segmented as 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 industries.
In addition to that, high-pressure hydraulic hoses are flexible, which allows them to bend and flex without kinking or damaging the hose. This flexibility is critical in off-highway equipment, which requires hoses to move and bend in different directions as the equipment operates.
By Tube Material Type
The market is segmented into elastomer/rubber hoses, thermoplastic hoses, and others. Elastomer/Rubber hoses remain the largest segment for the off-highway hydraulic hose market during the forecast period. Elastomer/Rubber tube material is highly resistant to abrasion, impact, and corrosion, making it an ideal choice for hydraulic hoses used in harsh off-highway environments.
Also, rubber hydraulic hoses have a high-pressure capacity that makes them suitable for heavy-duty off-highway equipment. They can handle pressure ranging from 3,000 to 6,000 psi, making them ideal for use in various off-highway equipment.
Regional Analysis
Asia-Pacific is expected to remain the largest market for off-highway hydraulic hoses over the forecast period. In addition to that, the region is also likely to witness the highest growth in the coming years. The Asia-Pacific region has been experiencing robust economic growth in the past few decades, leading to increased investment in various industries such as mining, agriculture, and construction.
In addition to that, government initiatives in the Asia-Pacific region are investing heavily in infrastructure development and construction projects to boost economic growth. Also, technological advancements in off-highway equipment are further expected to fuel the growth of hydraulic hoses during the forecast period.
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 off-highway hydraulic hoses 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
Research Methodology
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s off-highway hydraulic hoses 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?
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Key questions this report answers
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Relevant contents in the report
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How big is the sales opportunity?
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In-depth Analysis of the Off-Highway Hydraulic Hose Market
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How lucrative is the future?
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Market forecast and trend data and emerging trends
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Which regions offer the best sales opportunities?
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Global, regional, and country-level historical data and forecasts
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Which are the most attractive market segments?
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Market Segment Analysis and Forecast
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Which are the top players and their market positioning?
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Competitive landscape analysis, Market share analysis
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How complex is the business environment?
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Porter’s five forces analysis, PEST analysis, Life cycle analysis
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What are the factors affecting the market?
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Drivers & challenges
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Will I get the information on my specific requirement?
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10% free customization
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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
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