Hydraulic Hose Market restraints, opportunities and Forecast 2019 to 2028

Global hydraulic hose market was valued at US$ 1.7 Bn in 2016, and is expected to register a CAGR of 4.8%. The global hydraulic hose market is segmented on the basis of type, application, and region.

Major factor driving growth of the hydraulic hose market is increasing demand from various end use industries such as construction, mining, etc. In addition, growing demand for hydraulic hose in heavy duty construction equipment, trucks, etc.

Technological advancements and increasing R&D activities by manufactures and penetration of the major manufacturers of hydraulic hose in developing economies to expand their geographic presence are other factors expected to drive growth of the global market over the forecast period.

The spiral wire hydraulic hose segment is expected to register highest CAGR of over 5.0%, owing increasing demand for hydraulic hoses with four to six wire spiral braids in high pressure applications such as mining, heavy construction equipment, trucks, and farm machinery.

On the basis of application segmentation, engineering machinery segment is estimated to contribute major revenue share and is expected to maintain its dominance over the forecast period. The engineering machinery segment registers highest CAGR over 5.0%, owing growing demand for earth moving and construction equipment for new construction and development projects, especially in countries in Europe and Asia Pacific.

1. The market in North America accounted for significant revenue share of over 20% in the global hydraulic hose market in 2016.

2. The market in Europe accounts for significant share in the global hydraulic hose market. Demand for hydraulic hose is expected to increase in Europe region, owing to its use in various machinery and equipment used in agriculture, forestry, and the manufacturing sector, as well as in marine, mining, and tunnel boring.

3. The Asia Pacific market accounts for highest revenue share in the global hydraulic hose market. The Asia Pacific hydraulic hose market is expected to register highest CAGR of over 5% during the forecast period.

4. South Africa is a major producer of a range of minerals, including gold, coal, platinum, palladium, manganese, titanium, and uranium, and mining activities in the country is expected to boost growth of the Middle East & Africa hydraulic hose market over the forecast period.

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The report also offers insightful and detailed information regarding the various key players operating in the global hydraulic hose market, and their financials, apart from strategies, acquisitions & mergers, and market footprint.

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