Press release
Manufacturers View Construction Industry as Growth Opportunity as Demand for Hydraulic Rubber Hoses Increases
According to a publication by Transparency Market Research, the top tier manufacturers are constantly seeking product improvements and to solidify their credibility and product presence in the market. These manufacturers can also provide a wide array of hydraulic rubber hose types, owing again to the high level of product enhancement and development.
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The global market for hydraulic rubber hoses is expected to progress at a CAGR of 4.2% within a forecast period from 2014 to 2022, in terms of revenue. This revenue is expected to reach US$1 bn by the end of 2022, rising from US$779.8 mn in 2016.
The global market for hydraulic rubber hoses was dominated by Asia Pacific in 2013 and the report expects this region’s demand to expand at a leading rate. By the end of 2022, the predicted revenue of hydraulic rubber hoses in Asia Pacific will be US$392.8 mn.
Demand for Hydraulic Rubber Hoses Increases in Construction Industry
The construction industry – specifically makers of construction machinery – have consistently presented a high demand for hydraulic rubber hoses. By the end of 2022, the application-based revenue for hydraulic rubber hose manufacturers from construction machinery is expected to reach US$260 mn.
Most users of hydraulic rubber hoses have always preferred standard ones. These hoses are expected to continue being highly demanded till 2022, by when this segment will have reached US$370.4 mn.
Demand for Hydraulic Rubber Hoses Ramps up in Agriculture
“The profits in a product market such as hydraulic rubber hoses manufacturing is based solely on the demand for it in various application sectors,” states a TMR analyst. “In this case, it is the demand stemming from sectors such as agriculture and construction. Both these sectors are currently showing a massive increase in demand for hydraulic rubber hoses due to their physically flexible nature that can be a key advantage over conventional plastic and steel piping,” the analyst adds.
Modern hydraulic rubber hoses offer much stronger leak protection to fluids being transferred and can be used to carry high-pressure fluids in extreme environments while maintaining their flexibility. These properties put hydraulic rubber hose ahead of plastics and metal pipes for many users, thus increasing their demand.
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Usage of Thermoplastic Hose Diminishes Demand for Hydraulic Rubber Hoses
One of the key restraints to the large-scale use of hydraulic rubber hoses is the use of thermoplastic hoses, especially in high-pressure industrial applications. Hydraulic rubber hoses are heavier than plastic hoses for the same fluid capacity, can lose their shape while carrying oil, are better conductors of electricity than plastics, and have a relatively lower tolerance to certain chemicals and fluids. These problems can cause users in heavy industrial fields to prefer thermoplastic hoses over hydraulic rubber hoses.
“The coming years can be advantageous for hydraulic rubber hose manufacturers due to a greater demand from the automotive industry. The industry requires a great deal of different hose types that can be used to carry various types of fluids,” states the TMR analyst.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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