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In-Depth Report Forecasts Industrial Hose Market Growth to $18.9 Billion by 2028 at 7.2% CAGR, Driven by Urbanization
Industrial Hose Market Report
As per the report, the industrial hose market size has grown strongly in recent years. It will grow from $13.29 billion in 2023 to $14.31 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The industrial hose market size is expected to see strong growth in the next few years. It will grow to $18.9 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%.
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Rapid Urbanization Fueling Expansion In The Industrial Hose Market
Rapid urbanization is expected to propel the growth of the industrial hose market going forward. Urbanization refers to the rise in the percentage of people who live in cities and towns. An industrial hose is used in urban areas for the discharge of water under pressure, among other uses. For instance, in 2021, according to the World Bank Group, a US-based international financial institution, there were 56% of the total global population living in urban areas, which increased from 56% in 2020. Therefore, rapid urbanization is anticipated to boost the market in the upcoming years. Therefore, rapid urbanization is driving the growth of the industrial hose market.
Niedner Introduces Altra 3D Technology Redefining Reliability In Industrial Hose Applications
Advancements in technology are a key trend gaining popularity in the industrial hose market. Major players operating in the industrial hose market are developing new products with advanced technologies to sustain their position in the industrial hose market. For instance, in April 2022, Niedner Inc., a Canada-based company specializing in high-performing flexible fluid transport solutions, introduced ALTRA 3D. ALTRA 3D is a new hose technology that is a double-jacketed hose, designed for high-pressure conditions and reliable for industrial applications. This technology offers safety and corrosion prevention for various industrial verticals. This 3D circular woven hose eliminates wrinkling and snaking while combining the benefits of a double-jacketed hose into one. ALTRA 3D's unique features make it a potential option for moving fluids such as water, minerals, slurry, oil, gas, chemicals, and others in harsh environmental conditions.
The industrial hose market covered in this report is segmented -
1) By Type: Hydraulic Hoses, Layflat Hose, Wras Hose, Oil Resistant Hose, Corrugated Hoses, Stripwound, Thermo-Duct, Other Types
2) By Material Type: Rubber, Polyurethane, Polyvinyl Chloride, Metal, Thermoplastics, Composite, Silicone, Other Material Types
3) By Wire Type: Wire Braided, Spiral Wire
4) By Pressure: Low Pressure (Less Than 3000 Psi), Medium Pressure (Between 3000 to 6000), High Pressure (More Than 6000)
5) By Industry: Oil and Gas, Water, Agriculture, Food and Beverages, Pharmaceuticals, Automotive, Mining, Other Industries
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Major companies operating in the industrial hose market report are Continental AG, Bridgestone Corporation, Eaton Corporation plc, Parker Hannifin Corporation, Trelleborg AB, Saint-Gobain S.A., Gates Industrial Corporation plc, Semperit AG Holding, Alfagomma S.p.A., Polyhose India Pvt. Ltd., Kuriyama of America Inc., Hose Master, Inc., Kurt Manufacturing Company, Norres Schlauchtechnik GmbH, Flexaust Co., Inc., RYCO Hydraulics Pty Ltd., Kanaflex Corporation Co., Ltd., Abbott Rubber Company, Inc., PIRTEK USA, Transfer Oil S.p.A., Dantec Ltd., Flexicraft Industries, Salem-Republic Rubber Company, Amnitec Ltd., Anamet Europe B.V., Colex International Limited, Novaflex Group, Pacific Echo, Inc., Goodall Rubber Company, Elaflex Hiby Tanktechnik GmbH & Co. KG, Flextral, HoseXpress, JGB Enterprises, Inc., NewAge Industries, Inc., Pacific Hoseflex Pty Ltd., Penflex Corporation, Senior Flexonics, Inc., Swagelok Company, Texcel Infotech Pvt Ltd., United Flexible Inc.
Contents of the report:
1. Executive Summary
2. Industrial Hose Market Report Structure
3. Industrial Hose Market Trends And Strategies
4. Industrial Hose Market - Macro Economic Scenario
5. Industrial Hose Market Size And Growth
…..
27. Industrial Hose Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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