Industrial Hose Market

Industrial Hose Market Insights:

The industrial hose market is anticipated to grow at a CAGR of more than 6 % over the forecast period. This growth can be attributed to the growing demand for robust industrial hoses in diverse applications along with expanding infrastructure-related expenditures. It is used for energy conservation, transportation of various fluids from sources to the machine. Industries use machines and equipment which are hydraulic or pneumatic in nature; hence it is crucial for the transportation of fluids such as oil and gas in the machines.

The use of normal pipelines or pipes may cause economic losses to the industry. The effective use of industrial hose in transportation for machines and equipment can reduce the heat loss thereby reducing the overall cost. The growth of the industry is expected to rise over the forecast period owing to the growing importance of infrastructural development.

The loss of heat in other pipelines may freeze the fluid unlike in this product where the condensation of fluids is controlled leading to energy conservation. This process protects the core of pipeline from facing extreme operating temperature. Therefore, the installation and use of industrial hose are necessary for a large number of end-use industries. Lack of product differentiation is anticipated to restrain the growth of the industrial hose market. Most of the hose manufacturers cater to the needs of all industries and have similar product designs. Hence, the manufacturers find it difficult to differentiate their products on a large scale. Less technological advancement along with a limited number of manufacturing materials available is anticipated to pose a challenge for hose manufacturers.

Material Insights:

On the basis of materials, the industry is segmented into PVC, Polyurethane, Rubber, and Silicone among others. Polyurethane segment is anticipated to witness a steady growth over the forecast period due to its high abrasion, low compression set, and good flexibility. The growth of this segment can also be attributed to its increased applications in different industries such as oil & gas, mining, chemicals, food and beverages, and agriculture among others.

Media -Type Insights:

Based on media type, the market is segmented into water, oil, air & ventilation, hot water & steam, chemicals among others. The water media type dominated the industrial hose market in 2016. It is mainly used in agriculture, mining, chemicals, food & beverages, and infrastructure industries for the suction and discharge of water in various applications, such as irrigation, gardening, and fire equipment.

Industry Insights:

Based on the industry, the industrial hose market is divided into oil & gas, chemicals, food & beverages, agriculture, mining, water, automobile, infrastructure, and pharmaceuticals among others. The segment for the automobile industry is anticipated to grow at the highest CAGR over the forecast period due to the rising applications of hoses in traditional as well as electric and hybrid electric vehicles. In addition, growing demand for automobiles across the world is likely to fuel the industry growth.

End-Use Landscape:

The end-use landscape includes a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase products from global industrial hose market. The major consumers of the product are ExxonMobil, PetroChina, and Hexa Oil & Gas

Regional Insights:

Asia Pacific dominated the overall industrial hose market and registered the largest revenue share in 2016, followed by Europe. The market in this region is further anticipated to grow over the forecast period. The rise in demand for industrial hoses coupled with growing infrastructure-related developments is anticipated to be the key drivers of the industry growth.

Competitive Insights:

Key players in the industry include PARKER (US), Eaton (Ireland), Gates (US), RYCO Hydraulics (Australia), and Transfer Oil (Italy). Eaton is considered to be one of the leading hose providers in the market, offering hoses which work efficiently in wide operating pressure ranges.

Please note: This is not an exhaustive list of companies profiled in the report.