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 Hydraulics, Transfer Oil S.p.A., Kuriyama of America, Inc., Continental AG, Kurt Manufacturing, NORRES, Colex International, Sanipure Water Systems, Polyhose, Vardhman Hoses Pvt Ltd, Manuli Hydraulics, Bridgestone Hose Power, Kingdaflex Hydraulic Hose, Dunlop Hiflex, National Rubber Industries, Letone, Perfect Hydraulic India.

Growing demand from developing regions like Asia Pacific and Latin America owing to rapid industrialization presents lucrative opportunities in the market. Key market players are focusing on expanding their operations in emerging countries to capitalize on high growth potentials.

With increasing globalization, companies are focusing on consolidation activities through mergers and acquisitions to strengthen their presence across geographies. Additionally, they are investing in R&D to develop innovative products with superior properties meeting stringent performance and safety standards.

Market drivers:
- Increasing oil and gas extraction activities worldwide, especially in North America and Middle East are driving the demand for industrial hoses from oil & gas industry.
- Growth in end-use industries like food processing, chemical processing, construction are propelling the hose market growth.

Market restraints:
- Regulations pertaining to material disposal and recycling may hamper the market growth.
- Fluctuations in raw material prices affects the production costs of hose manufacturers.


Segment Analysis

Rubber industrial hoses dominate the market as they are made for a wide variety of oil, water, chemical, and air transfer applications. They offer high chemical and abrasion resistance. They can withstand high temperatures and pressures. This makes them suitable for transfer of fluids in manufacturing industries, refineries, mining etc. PVC hoses are the fastest growing segment as they are lightweight, cost effective and corrosion resistant. They are suitable for handling acids and caustics. Their growth is driven by increasing demand from chemicals, food processing and construction industries.

Global Analysis

Asia Pacific is the dominating as well as the fastest growing regional market for industrial hoses. Countries like China, India, Japan and other Southeast Asian countries are industrial powerhouses with a strong presence of manufacturing industries that drive the demand. Growth in process industries, infrastructure development and adoption of automation in these countries boost the market. North America is another major regional market led by the US. Presence of major end use industries and demand for replacement of old hoses propel growth. However, growth in developed markets of North America and Europe is sluggish compared to developing regions.

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