Market Research Report
Industrial Hose Market by Material (Natural Rubber, Nitrile Rubber, Polyurethane, PVC), Media, Industry (Automotive, oil & gas, Chemicals, Infrastructure, food & beverages, agriculture), and Geography - Global Forecast to 2024
|Published by||MarketsandMarkets||Product code||563240|
|Published||Content info||143 Pages
Delivery time: 1-2 business days
|Industrial Hose Market by Material (Natural Rubber, Nitrile Rubber, Polyurethane, PVC), Media, Industry (Automotive, oil & gas, Chemicals, Infrastructure, food & beverages, agriculture), and Geography - Global Forecast to 2024|
|Published: June 17, 2019||Content info: 143 Pages||
The industrial hose market is likely to grow from USD 12.8 billion in 2019 to USD 17.0 billion by 2024; it is expected to grow at a CAGR of 5.8%. The growth of this market is mainly driven by factors such as increasing demand for robust industrial hoses in critical applications, growing infrastructure-related developments, and rising demand for PVC material. Increasing demand for automobiles worldwide and modernization of agriculture processes are expected to create significant growth opportunities for players in the industrial hose market during the forecast period. However, the dearth of technical know-how of industrial hoses restrains the growth of the market.
High demand for natural rubber in various industrial segments provides opportunities for the growth of the industrial hose market. The automobile market is also anticipated to increase the demand for natural rubber production in Thailand and Indonesia. Natural rubber has unique physical and chemical properties, including susceptibility to vulcanization. Hence, increasing demand for natural rubber hoses in the agriculture, mining, construction, and food processing industries is expected to provide ample opportunities for the industrial hose market.
The industrial hose market for the automotive industry accounted for the largest share in 2018. In automobiles, hoses are used to carry fuel and lubricants. These are also used in cooling and hydraulic systems. Advancements, such as autonomous vehicles, electric vehicles, and hybrid electric vehicles in the automotive industry and rising demand for automobiles across the world are expected to provide growth opportunities to hose manufacturers. Moreover, the growing demand for automobiles in emerging economies, such as China, India, Australia, and Japan, is expected to increase the demand for industrial hoses in the coming years.
APAC is expected to hold the largest share of the industrial hose market during the forecast period. APAC is a potential market for industrial hoses owing to rising urbanization, increasing demand for automobiles, and modernization of agricultural processes. High population density and growing per capita income of this region, along with large-scale industrialization and urbanization, are driving the growth of the industrial hose market. Similarly, end-user industries, such as oil & gas, automotive, infrastructure, chemicals, and pharmaceuticals, are expected to create enormous opportunities for industrial hose providers.
Key players profiled in this report are as follows:
This report offers detailed insights into the industrial hose market, segmented based on material, media, industry, and region. Based on material, the market is segmented into natural rubber, nitrile rubber, Polyvinyl Chloride (PVC), silicone, polyurethane, and others (EPDM, UPE). Based on media, the market is segmented into water, oil, hot water and steam, air and gas, food and beverage, and chemical. Based on industry, the market is segmented into automotive, infrastructure, oil & gas, pharmaceuticals, food & beverages, water & wastewater, chemicals, mining, agriculture, and others. The study also forecasts the size of the market segmented on the basis of region-North America, Europe, APAC, and RoW.
The report would help market leaders/new entrants in the industrial hose market in the following ways:
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View might not be captured in case of unlisted companies.