Press release
2025-2034 Industrial Hose Market Evolution: Disruptions, Innovations, and Untapped Opportunities
Industrial Hose
What Is the Expected CAGR for the Industrial Hose Market Through 2025?
The expansion of the industrial hose market size has been noteworthy in past years. The market is set to increase from $14.2 billion in 2024 to $15 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 5.7%. The growth seen during the historic period is a result of factors such as escalated international trade, infrastructure growth, expansion of the automotive industry, oil and gas exploration activities as well as advancements in agriculture.
What's the Projected Size of the Global Industrial Hose Market by 2029?
Anticipations point to a robust expansion in the industrial hose market in the coming years. The market is predicted to reach a value of $19.56 billion by 2029, with a compound annual growth rate (CAGR) of 6.9%. Factors contributing to the expected growth during this period include the proliferation of e-commerce, advances in renewable energy, heightened automation, biotechnology development, and an increased focus on effective waste management. Key trends set to shape the market during this forecast period comprise the integration of the Internet of Things (IoT), a focus on customization and specialty hoses, the use of bio-based materials, digital twins technology, and an emphasis on ergonomics.
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Top Growth Drivers in the Industrial Hose Industry: What's Accelerating the Market?
The industrial hose market's expansion is anticipated to be fuelled by swift urbanization. Urbanization is characterized by a surge in the proportion of individuals residing in cities and towns. In urbanized zones, industrial hoses have various applications, including the pressurized expulsion of water. For example, in July 2023, the UN-Habitat, a United Nations agency based in Kenya tasked with human settlements, reported that over half (55%) of the worldwide population dwells in urban regions, with a projected increase to 70% by 2050. Moreover, the World Bank, a US-based global financial institution, noted in April 2023 that more than 50% of the world's populace now lives in metropolitan areas. As a result of these factors, quick urbanization is spurring on the industrial hose market's development.
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What Are the Key Trends Driving Industrial Hose Market Growth?
Technological innovations have emerged as a significant trend in the industrial hose market. Market leaders are launching new, technologically advanced products as they strive to retain their competitive edge in the industry. For example, in April 2022, Canadian company Niedner Inc., known for their flexible fluid transport solutions, launched ALTRA 3D, a new type of hose technology. It's a double-jacketed hose specifically crafted to withstand high-pressure conditions and is dependable for industrial uses. This hose technology not only ensures safety but also prevents corrosion across various industrial sectors. The uniquely woven 3D circular hose effectively removes problems of wrinkling and snaking, incorporating the advantages of a double-jacketed hose. With its distinct features, ALTRA 3D presents a promising solution for transporting different fluids such as water, minerals, slurry, oil, gas, chemicals, among others in demanding environmental conditions.
What Are the Main Segments in the Industrial Hose Market?
The industrial hosemarket 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
Subsegments:
1) By Hydraulic Hoses: High-Pressure Hydraulic Hoses, Low-Pressure Hydraulic Hoses
2) By Layflat Hose: PVC Layflat Hose, Rubber Layflat Hose
3) By WRAS Hose: WRAS Approved Rubber Hoses, WRAS Approved PVC Hoses
4) By Oil Resistant Hose: Oil Resistant Rubber Hoses, Oil Resistant PVC Hoses
5) By Corrugated Hoses: Stainless Steel Corrugated Hoses, PTFE Corrugated Hoses
6) By Stripwound: Metal Stripwound Hoses, Plastic Stripwound Hoses
7) By Thermo-Duct: Thermal Insulation Ducts, High-Temperature Ducts
8) By Other Types: Specialty Hoses, Suction And Discharge Hoses, Food And Beverage Hoses
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Which Top Companies are Driving Growth in the Industrial Hose Market?
Major companies operating in the industrial hose market include 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., 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.
Which Regions Will Dominate the Industrial Hose Market Through 2029?
Asia-Pacific was the largest region in the industrial hose market in 2024. The regions covered in the industrial hose market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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