Press release
China Industrial Hoses Market Business Opportunities and Global Forecast to 2031
According to the analysis by Future Market Insights (FMI), the China industrial hoses market will surpass a valuation of US$ 1.9 Bn in 2031, rising at a CAGR of 7.3%. Ultra-high pressure industrial hoses will reflect a positive growth outlook with a CAGR of 7.5% through the assessment period.
The sales of industrial hoses in China are also understood to have risen with demand from its domestic market commanding over 55% of the nation's total sales and consumption. The export curbs are also likely to be eased in the upcoming years.
The oil and gas industry is considered as one of the prominent users of industrial hoses. Crude oil and gas being corrosive in nature may erode linings and will call for regular installment of hoses, thus driving the sales of replacement units. Superior grade materials such as composites, polymers, and steel is expected to augur the sales of industrial hoses to a high degree.
Advent of cryogenics in HVAC, industrial air separation plants, and medicine has necessitated the use of industrial hoses under extreme pressure and temperature. Steel and braided hose types have been preferred for the same. The demand is likely to be propelled by the medical and life sciences sectors incorporating cold storage systems and cryogenics.
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Key Takeaways from Market Study
China has an estimated share of 9.1% of the global industrial hoses market and close 30% of regional market consumption owing to the country's high manufacturing output.
Lubricant hoses to hold the lead with US$ 166.1 Mn in 2021 owing to extensive use in automotive applications.
Plastic and polymer hoses account for over 33% of the value share in 2021, owing to cost and durability benefits.
Energy applications to account for US$ 148 Mn in 2021, driven by investments in energy infrastructure upgrades.
Leading provinces in China are estimated to contribute over 40% of the overall market consumption at 1.1 X of the overall CAGR.
"Transportation of critical fluids under stringent pressure regulations and demand from construction, oil and gas, and cryogenics sectors are major factors driving the demand for industrial hoses in China through 2031," says a Future Market Insights analyst.
Industrial Hoses Market by Category
By Material:
Plastics & Polymers
PTFE
PUR
PVC
Nylon
Silicone
Hybrid
Steel
Braiding Yarn
Composites
By Product Type:
Tank Water Hoses
Gardening Hoses
Fuel Hoses
Diving Hoses
Brake Hoses
Bicycle Hydraulic Brake Hoses
Lubricant Hoses
Hydraulic Hoses
Mini Hydraulic Hoses
Pneumatic Hoses
Cryogenic Transfer Hoses
Gas Connection Hoses
By Pressure Intake:
Low Pressure
Medium Pressure
High Pressure
Ultra High Pressure
By Application:
Commercial Plumbing
Residential Plumbing
Gardening
Manufacturing
Food & Beverages
Chemicals
Pharmaceuticals
Others
Cryogenics & Air Separation Plants
Energy
Marine Engines & Equipment
Diving Device
Vehicles
Heavy Duty Trucks
Off Road Construction & Earth Moving Equipment
Industrial Forklifts
Agricultural Vehicles
Mining Vehicles
Fuel Tankers
Water Tankers
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About Us
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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