Hydraulic Hose Market is Forecasted to Reach US$ 7.7 Billion in 2028, Says Stratview Research

The global hydraulic hose market is projected to witness a growth rate of 4.3% annually from 2023 to 2028, with an anticipated size of US$ 7.7 billion by 2028, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global hydraulic hose market which provides a comprehensive outlook of the global and regional industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Report Highlights

Segment Insights on the Hydraulic Hose Market:

The report dives deep into the segmentation of the hydraulic hose market based on critical parameters:

Based on 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.

Based on the 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.

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Which Region Shows the Most Promising Growth Forecast and Opportunity?

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 Drivers:

Some of the key drivers listed in the report are given below.

• 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.
• 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.

Top Companies in the Hydraulic Hose Market:

The global market for Hydraulic Hose is highly concentrated, with the top four companies capturing a lion’s share. Apart from technological expertise and financial capabilities, the growth of companies is directly dependent on government support and overall industry conditions. Stratview Research has identified the following companies as the top market players:

-          PGates 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.

What Deliverables Will You Get in this Report?

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.

It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.

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