Industrial Hose Market is Anticipated to Witness High Growth Owing to Increasing Usage in Oil and Gas Industry
Industrial Hose Market The industrial hose market is an integral part of many industries including oil and gas, chemicals, food & beverages, pharmaceuticals, and mining to name a few. Industrial hoses are highly engineered rubber or plastic tubes used for transferring various fluids like liquids, gases and semisolids from one location to another location in industrial settings. They offer advantages like safety, reliability and flexibility during transportation of fluids. With increasing oil and gas extraction activities worldwide, demand for hoses is rising as they play a critical role in offshore as well as onshore oil & gas operations. The Global industrial hose market is estimated to be valued at US$ 14.88 Bn in 2024 and is expected to exhibit a CAGR of 9.9% over the forecast period 2024 To 2031. Key Takeaways Key players operating in the Industrial Hose Market Demand are Gates Industrial Corporation plc, Eaton Corporation plc, Parker-Hannifin Corporation, Ryco Hy