Industrial Hose Market is Forecasted to Reach US$ 5.2 Billion in 2030, Says Stratview Research

The global industrial hose market is projected to witness a growth rate of 3.8% annually from 2023 to 2030, with an anticipated size of US$ 5.2 billion by 2030, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global industrial 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 Industrial Hose Market:

The report dives deep into the segmentation of the Industrial Hose market based on critical parameters:

Based on Material Type - The market is segmented into rubber, thermoplastics, and others. Rubber is expected to be the most preferred material in the industrial hose market due to its exceptional combination of properties. Rubber hoses offer flexibility, which is crucial for accommodating movement and bending in various industrial applications. They exhibit excellent resistance to abrasion, weathering, and chemicals, ensuring longevity and reliability in diverse environments. Rubber hoses can handle a wide range of temperatures and pressures, making them versatile for different industries. Moreover, rubber hoses are resistant to environmental factors such as UV radiation, ozone, and weathering. This resistance helps maintain the hose's performance and appearance over time.

Based on the Pressure Type - The market is segmented into low-pressure hose, medium-pressure hose, and high-pressure hose. Low-pressure hose is expected to maintain its dominance during the forecast period due to its widespread applicability. Many industrial processes and applications require the controlled and efficient flow of liquids or gases at lower pressure levels. Low-pressure hoses, typically designed for pressures below 300 psi, are cost-effective, lightweight, and easy to handle. They find extensive use in industries such as agriculture, construction, manufacturing, and automotive, where tasks like transferring fluids, conveying air, or pneumatic tool operation demand lower-pressure ratings.

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Which Region Shows the Most Promising Growth Forecast and Opportunity?

In terms of regions, the Asia-Pacific is expected to remain the largest market for industrial 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 flourishing industrial sectors, robust infrastructure development, increasing construction activities owing to rapid urbanization and economic growth, and substantial manufacturing activities, are expected to drive the regional market during the forecast period. The region's rapid economic growth, large population, and diverse industries, including manufacturing, agriculture, and construction, will drive substantial demand for industrial hoses. As Asia-Pacific continues to experience industrial expansion and urbanization, the demand for industrial hoses in applications ranging from manufacturing to agriculture and construction remains consistently high, solidifying its position as the leading market for industrial hoses.

Industrial Hose Market Drivers:

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

• The demand for industrial hoses is expected to increase due to several major factors, such as the growing need for sturdy hoses for important applications across various industries, such as automotive, construction, and chemicals.
• The demand for industrial hoses is expected to rise due to increasing oil & gas exploration, infrastructural development, the expanding automotive industry, and increasing capital expenditure in the mining industry.
• Growth in the agriculture industry coupled with modern agricultural practices and rapid urbanization and industrialization are further expected to fuel the growth of the industrial hose market.
• Advancements in materials and manufacturing technologies have resulted in more durable and efficient hoses, meeting the evolving requirements of industries, and the need for better performance, flexibility, and longevity in hoses has driven research and development efforts, further spurring market growth.

Top Companies in the Industrial Hose Market:

The global market for Industrial 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:

-          Alfagomma S.p.A.

-          ContiTech AG

-          Eaton Corporation

-          Gates Corporation

-          Kuriyama Holdings Corporation

-          Manuli Rubber Industries

-          NORRES GmbH

-          Parker Hannifin Corp.

-          Rehau Group AG

-          Semperit AG Holdings

-          Spirax-Sarco Engineering PLC

-          ZEC S.p.A.

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.

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