Hose Pipe Market to Reach $32.3 Billion, by 2032 - Allied Market Research

In a world where flexible fluid transportation is crucial, hose pipes have emerged as unsung heroes, seamlessly enabling the flow of liquids and gases for various applications. Allied Market Research's recent report, titled "Hose Pipe Market: Global Opportunity Analysis and Industry Forecast, 2023-2032," offers an insightful overview of this vital industry.

global hose pipe industry generated $18.7 billion in 2020 and is anticipated to generate $32.3 billion by 2032, witnessing a CAGR of 4.4% from 2023 to 2032.

Download PDF Sample: https://www.alliedmarketresearch.com/request-sample/12983


The Flow of Progress

Hose pipes, made of rubber or plastic, are long, flexible conduits designed for directing water, liquids, or gases. They find applications in a myriad of scenarios, from extinguishing fires to cleaning vehicles and irrigating gardens. The global hose pipe industry witnessed a turnover of $18.7 billion in 2020 and is projected to surge to $32.3 billion by 2032, marking a steady CAGR of 4.4% from 2023 to 2032.

Driving Factors of Growth

Several key factors are propelling the growth of the global hose pipe market:

Boom in Construction: The construction industry is flourishing, and hose pipes are indispensable tools for builders.

Automotive Advancements: As the automotive industry advances, the demand for specialized hose pipes for modern vehicle systems grows.

Manufacturing Momentum: Growth in the manufacturing industry, driven by innovation and evolution, fuels the demand for resilient hose pipes.

Challenges and Opportunities

Despite its promising trajectory, the hose pipe market faces certain challenges:

Fluctuating Raw Material Costs: The market's growth can be impeded by volatile raw material prices.

Chemical Industry Competition: Rivalry from the chemical industry poses a restraint.

However, there are lucrative opportunities, such as the rise of the chemical and manufacturing sectors in emerging economies, which can boost market growth.

Buy This Research Report (245 Pages PDF with Insights, Charts, Tables, Figures):
https://www.alliedmarketresearch.com/checkout-final/ce3b39b8655afdf7e21bd1285badbd67




Navigating the Pandemic Waves

The COVID-19 pandemic initially cast a shadow over the hose pipe market, as lockdowns resulted in a slowdown in construction activities and reduced industrial demand. However, with the pandemic subsiding, major manufacturers are on the path to recovery, and the market is rebounding swiftly.

Segments Steer the Way

Pneumatic Segment: Accounting for over half of the global market revenue in 2020, the pneumatic segment continues to lead. Pneumatic hoses are increasingly adopted across industries like automotive, construction, and manufacturing, driving demand. The hydraulic segment is expected to exhibit the highest CAGR of 4.6% from 2023 to 2032, propelled by the growth of the construction industry.

Rubber Material: Rubber hoses held the highest market share in 2020, contributing to nearly two-thirds of global revenue. Rubber's exceptional properties, including flexibility, durability, and resistance, make it a preferred choice. However, the plastic segment is set to display the highest CAGR of 5.7% from 2022 to 2032, driven by plastic's flexibility, lightweight nature, and versatility.

Construction Industry: The construction sector accounted for the largest share in 2020, driven by expanding construction activities and the need for robust hose pipes capable of withstanding challenging conditions at construction sites. Meanwhile, the automotive segment is poised to experience the largest CAGR of 4.9% from 2023 to 2032, thanks to the evolving automotive industry's demand for high-performance hose pipes.

Regional Dominance

Asia-Pacific: Holding more than half of the global hose pipe market revenue in 2020, Asia-Pacific is expected to maintain its dominance. Major players are establishing manufacturing units in the region to cater to the burgeoning construction, oil & gas, and mining industries.

LAMEA: Anticipating the fastest CAGR of 4.9% from 2023 to 2032, the LAMEA region is gaining momentum due to its growing economy and population, which positively affect industrial and construction sectors.

Leading Market Players

Key players in the global hose pipe market include Sumitomo Riko Company Limited, Easton Corporation PLC, Gates Corporation, Parker Hannifin, Nichirin Company Limited, Ryco Hydraulics, Dutron Group, Polyhose, SHP Primaflex GmbH, and Manuli Hydraulics.

These players employ various strategies to expand their market share and maintain dominance in different regions.

Inquire Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/12983

In a world where fluid transportation is paramount, the hose pipe market plays a pivotal role. Its growth is fueled by construction, automotive, and manufacturing sectors, as well as advancements in materials and technology. While challenges like raw material cost fluctuations persist, opportunities in emerging industries offer a promising future. As the world continues to flow forward, hose pipes will remain essential conduits for progress.

Contact Us:

United States
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.