Press release
Industrial Hose Market Is Gaining Huge Growth In Upcoming Years 2024 - 2031 | Gates Industrial Corporation plc, Eaton Corporation plc
Industrial Hose Market
Global industrial hose market is estimated to be valued at US$ 14.88 Bn in 2024 and is expected to reach US$ 28.81 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 9.9% from 2024 to 2031.
Market Dynamics:
The industrial hose market is witnessing robust growth due to growing demand from oil and gas industry and increasing infrastructure development projects globally. The oil and gas industry accounts for over 30% of industrial hose usage due to their need in exploration and production activities. Further, the rising number of construction projects for buildings, roads, airports etc. is also fueling demand for industrial hoses in machinery and equipment used at construction sites. Robust economic growth especially in emerging countries of Asia Pacific and Latin America is supporting infrastructure development, which in turn is driving the industrial hose market size.
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Industrial Hose Market Drivers: Increased Demand from Oil & Gas Industry
The oil & gas industry relies heavily on hoses for transporting petroleum products from one place to another. Industrial hoses are used extensively in offshore and onshore oil rigs as well as refineries and chemical plants for transferring crude oil, refined fuels, petrochemicals and other hazardous and non-hazardous fluids. As energy demand rises worldwide due to rapid industrialization and growing population, especially in developing countries, oil & gas production and exploration activities are also increasing. This is driving significant demand for various types of industrial hoses. Furthermore, many oil producers are investing substantial amounts in upgrading aging pipelines and industrial equipment, which requires replacement of old hoses as well, thereby fueling market growth.
Industrial Hose Market Opportunity: Growing Adoption of Composite Hoses
With advancements in material sciences, composite hoses that use reinforcements like fiberglass, carbon or aramid fibers in combination with plastics are increasingly replacing conventional rubber and steel wire spiral hoses. Composite hoses offer significant advantages over traditional varieties including higher strength, greater flexibility, lighter weight, better chemical resistance and lower overall cost of ownership. Their adoption is rising across critical industries like oil & gas, construction, manufacturing, marine, automotive and food processing. Manufacturers are developing innovative composite hose designs with advanced properties. Considering their superior performance and cost competitiveness compared to metal and rubber hoses, demand for composite industrial hoses is expected to witness strong growth going forward. This presents lucrative opportunities for players in the market.
Industrial Hose Market Trend: Emphasis on Lightweight and Customizable Designs
There is a major trend of decreasing industrial hose weight without compromising on their durability, pressure handling capabilities and flexibility. Lighter hoses allow for easier handling and transportation. They also reduce operational costs. Material advancements are enabling manufacturers to create highly-engineered lightweight hoses using super-tough plastics and composite formulations. 3D printing technology is revolutionizing the design of industrial hoses by facilitating creation of personalized, customized solutions as per unique application needs. It offers limitless possibilities for complex hose shapes. The trend reflects growing demand for customizable hoses that can be precisely suited for special installation requirements. Market players are tapping into new manufacturing technologies to deliver innovative hose designs with optimal weight and perfect fit consistently.
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Top Companies Featured in This Report:
โ Gates Industrial Corporation plc
โ Eaton Corporation plc
โ Parker-Hannifin Corporation
โ Ryco Hydraulics
โ Transfer Oil S.p.A.
โ Kuriyama of America Inc.
โ Continental AG
โ Kurt Manufacturing
โ NORRES
โ Colex International
โ Sanipure Water Systems
โ Polyhose
โ Vardhman Hoses Pvt Ltd
โ Manuli Hydraulics
โ Bridgestone Hose Power
โ Kingdaflex Hydraulic Hose
โ Dunlop Hiflex
โ National Rubber Industries
โ Letone
โ Perfect Hydraulic India
Market Segmentation:
By Product Type:
โ By Material: Rubber, PVC, Silicone, Teflon, Others
โ By Media Type: Water, Oil, Hot Water and Steam, Air and Gas, Food and Beverage, Others (Chemical, etc.)
โ By Industry: Oil & Gas, Chemical, Food & Beverage, Pharmaceuticals, Agriculture, Others
Key Regions/Countries Classified as Follows:
ยป North America (U.S., Canada, Mexico)
ยป Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
ยป Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
ยป South America (Brazil, Argentina, Rest of SA)
ยป Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
Key Inquiries Addressed in this Report include:
๐ What was the size of the Industrial Hose Market in 2024, and what is the projected value by 2031?
๐ What is the present global market landscape for the Industrial Hose Market?
๐ What strategies offer optimal opportunities for growth maximization in the business?
๐ What recent trends are shaping the Industrial Hose Market?
๐ How does the market share of Industrial Hose Market revenue, sales, and size vary across specific geographical regions?
๐ Who are the prominent industry players in the Industrial Hose Market?
๐ Which segment of the Industrial Hose Market is experiencing heightened demand?
The report also delves into the competitive landscape, key players, trade patterns, industry value chain, recent news, policies, and regulations. Should you have any inquiries or require customization options, please don't hesitate to contact us.
In summary, whether you're engaged in manufacturing, distribution, or investment within the Industrial Hose sector, this report furnishes invaluable insights into market segments, drivers, challenges, investment prospects, regional dynamics, major players, growth strategies, prevailing trends, and hurdles influencing the industry's expansion.
๐ Request For Customization at: @ https://www.coherentmarketinsights.com/insight/request-customization/6780
Author Bio:
Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.
(LinkedIn- https://www.linkedin.com/in/priya-pandey-8417a8173/)
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