Press release
Industrial Hoses Market Business Future Trends, Upcoming Demand, CAGR of 6.30%,Opportunities and Challenges, Competitive Scenario and Share Forecast to 2030
Global Industrial Hoses Market
Global Industrial Hoses Market was valued at USD 12676.46 million in 2021 and is expected to reach USD 21165.42 million by 2030, registering a CAGR of 6.30% during the forecast period of 2022-2030. "Automotive" accounts for the largest application segment in the respective market owing to the increase in sales of vehicles due to high disposable income. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
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Industrial Hoses Market Analysis:
The Industrial Hoses market is being driven by the rising adoption of IoT products. The upsurge in the adoption rate of underwater acoustic modems in naval defense is a major factor driving the market's growth. The changing insurer's focus from product-based to consumer-centric strategies is driving up demand for Industrial Hoses equipment market. Other significant factors such as rising awareness amongst insurers towards digital channels, and technological advancement will cushion the growth rate of Industrial Hoses market. Furthermore, upsurge in the adoption rate of cloud-based digital solutions by the insurers to obtain the high scalability will accelerate the growth rate of Industrial Hoses market for the forecast period mentioned above.
Moreover, increasing awareness amongst insurers to access a broader segment of the market and emerging new markets will boost the beneficial opportunities for the Industrial Hoses market growth.
However, difficulties involved in the integration of insurance platforms with legacy systems will act as major retrain and further impede the market's growth. The dearth of skilled workforce will challenge the growth of the Industrial Hoses market.
List of the leading companies operating in the Industrial Hoses Market includes:
Eaton (Ireland)
PARKER HANNIFIN CORP (US)
RYCO Hydraulics (Australia)
Kurt Manufacturing (US)
NORRES Schlauchtechnik GmbH (Germany)
Transfer Oil S.p.A (Italy)
ContiTech AG (Germany)
Kanaflex Corporation Co.,ltd. (Japan)
Pacific Echo (US)
Colex International Limited, UK (UK)
Gates Corporation (US)
Semperit AG Holding (Austria)
KURIYAMA OF AMERICA, INC. (US)
Titeflex (US)
Trelleborg Group (Sweden)
Flexaust Inc. (US)
Salem-Republic Rubber Company (US)
PIRTEK (Australia)
Dixon Valve & Coupling Company, LLC (US)
Titan Fittings (US)
Recent Developments
Continental AG developed medical hoses needed in Bergamo in April'2020. Also, they developed Lombardy region's medical sector at its Italian site in Daverio, Italy. PVC hose is considered an ideal fit for the transport of oxygen, helium, carbon dioxide, air and nitrous oxide.
NORRES GmbH acquired the Swedish hose distributor Jarl Elmgren AB in February'2020. The acquisition aims at strengthening of the company's market position in Scandinavia, and is in line with NORRES' internationalization strategy.
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Industrial Hoses Market Dynamics
Drivers:
Infrastructural Developments
The increase in number of infrastructure-related developments is one of the major factors driving the growth of Industrial Hoses market. The rise in infrastructure-related projects escalating private participation in infrastructure (PPI) to invest more generate more demand for hoses.
Use in Various Industrial Applications
The rise in demand for healthy Industrial Hoses in various applications accelerate the market growth. An industrial hose is widely used across wide range of industries for maximum transfer of fuel, chemicals, bulk materials, and air, among others.
Agricultural Exercises
The surge in use of Industrial Hoses due to increased agricultural exercises for satisfying the growing demand for food further influence the market. Also, rise in focus on the efficiency levels of Industrial Hoses made from different materials among end users assist in expansion of the market.
Additionally, rapid urbanization, change in lifestyle, surge in investments and increased consumer spending positively impact the Industrial Hoses market.
Opportunities
Furthermore, rise in demand for automobiles among population extend profitable opportunities to the market players in the forecast period of 2022 to 2030. Also, increase in modernization of agriculture processes will further expand the market.
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Industrial Hoses Market Segmentation:
Type
Hydraullic Hoses
Layflat Hose
Wras Hose
Oil Resistant Hose
Corrugated Hoses
Stripwound
Thermo-Duct
Others
Material Type
Rubber
Polyurethane
Polyvinyl Chloride
Metal
Thermoplastics
Composite
Silicone
Others
Media
Oil
Water
Gas
Wire Type
Wire Braided
Spiral Wire
Pressure
Low Pressure (Less Than 3000 Psi)
Medium Pressure (Between 3000 to 6000)
High Pressure (More Than 6000)
Industry
Oil and Gas
Water
Agriculture
Food and Beverages
Pharmaceuticals
Automotive
Mining
Others
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Industrial Hoses Market Country Level Analysis
The countries covered in the Industrial Hoses market report are South Africa, Saudi Arabia, U.A.E., Egypt, Israel, the Rest of Middle East and Africa, U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, Russia, Netherlands, Belgium, Switzerland, Turkey, Rest of Europe, China, Japan, India, South Korea, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina and Rest of South America. North America dominates globally due to rising demand for advanced technologies and software design and development.
North America dominates the Industrial Hoses market and will continue to flourish its trend of dominance during the forecast period due to the high concentration of large insurance companies in this region. Asia-Pacific is expected to grow during the forecast period of 2022-2030 due to the rise in the level of commercial investment by various industries.
The country section of the report also provides individual market-impacting factors and market regulation changes that impact the market's current and future trends. Data points like downstream and upstream value chain analysis, technical trends, porter's five forces analysis, and case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
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Why buy this report?
The report offers a comprehensive evaluation of the Global Industrial Hoses Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
The report includes an in-depth market analysis using Porter's 5 forces model.
The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
The report also contains the competitive analysis using Positioning Quadrants, the analyst's competitive positioning tool.
Table of Content: Global Industrial Hoses Market
1 Introduction
2 Market Segmentation
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Global Industrial Hoses Market, Component
7 Global Industrial Hoses Market, End-User
8 Global Industrial Hoses Market, Insurance Application
9 Global Industrial Hoses Market, Deployment Type
10 Global Industrial Hoses Market Organization Size
10 Global Industrial Hoses Market, By Region
11 Global Industrial Hoses Market, Company Landscape
12 SWOT Analysis
13 Company Profile
14 Questionnaire
15 Related Reports
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