Industrial Hose Market Size To Reach USD 25.16 Billion By 2033, Says The Brainy Insights

(MENAFN- GlobeNewsWire - Nasdaq) The global industrial hose market size is anticipated to grow from USD 15.30 billion to USD 25.16 billion in 10 years. The market will experience rapid growth due to the growing application of industrial hoses in Agriculture during the forecast period.

Newark, Sept. 12, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 15.30 billion in 2023 global industrial hose market will reach USD 25.16 billion in 2033. A hose is a flexible, hollow tube designed to transport fluids from one location to another. While hoses are sometimes referred to as pipes, the term "pipe" generally applies to rigid tubes, whereas a hose is typically flexible. Hoses are cylindrical with a circular cross-section and are manufactured from a range of materials depending on the intended application and pressure requirements.

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Common materials include nylon, polyethylene, polyurethane, PVC, natural or synthetic rubbers, and special polyethylene grades such as LDPE and LLDPE. Other materials used include stainless steel, PTFE (Teflon), and various metals. The design of a hose is influenced by factors such as size, pressure, weight, type (straight or coil), length, and chemical compatibility. Industrial hoses cover a broad spectrum of fluid transport lines, including those used in pneumatic, hydraulic, and process applications. They are critical in heavy industries such as mining, geotechnics, and construction, and are essential in the chemical industry. The global market for industrial hoses is expected to grow rapidly due to these factors. Industrial tubing is typically customized for specific applications, and consultations with hose manufacturers are common.

Report coverage & details:

Report Coverage	Details
Forecast Period	2024–2033
Base Year	2023
Market Size in 2023	USD 15.30 billion
Market Size in 2033	USD 25.16 billion
CAGR	5.1%
No. of Pages in Report	237
Segments Covered	by Material, Media, Industry, Regions
Drivers	Advances in the oil and gas field, Rising PVC material demand
Opportunity	Application of industrial hoses in agriculture
Restraints	Lack of technicians

Key Insight of the Global Industrial hose Market

Asia Pacific will dominate the market during the forecast period.

The Asia Pacific region is projected to experience the fastest growth rate during the forecast period. Factors driving this growth include high population density, rising per capita income, rapid urbanization, and increased demand for automobiles. Additionally, the modernization of agricultural practices in the region further fuels market expansion.

The polyurethane segment is anticipated to grow at the highest CAGR of around 5.8% over the forecast period.

The material segment is divided into natural rubber, polyvinyl chloride (PVC), nitrile rubber, polyurethane, silicone and others. The polyurethane segment is anticipated to grow at the highest CAGR of around 5.8% over the forecast period.

In 2023, the chemical segment dominated the market with the largest market share of 28.9% and revenue of 4.42 billion.

The media segment includes chemical, oil, water, steam and hot water, food and beverage, air and gas. In 2023, the chemical segment dominated the market with the largest market share of 28.9% and revenue of 4.42 billion.

In 2023, the automotive segment dominated the market with the largest market share of 24.8% and revenue of 3.79 billion.

The industry segment includes automotive, pharmaceuticals, infrastructure, oil & gas, food & beverages, chemicals, water & wastewater, mining, agriculture and others. In 2023, the automotive segment dominated the market with the largest market share of 24.8% and revenue of 3.79 billion.

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Advancement in market

TIPCO Technologies, a distributor of fluid solutions, purchased Charter Industrial Supply. Customers can purchase hydraulic and industrial hose, hose assemblies, pipe fittings, tubing, fasteners, valves, and other relevant industrial supplies from San Diego, California-based distributor Charter Industrial Supplies.

Market Dynamics

Driver: Advances in the Oil and Gas Industry.

The oil and gas sector is the largest user of industrial hoses, driving significant growth in the market. This industry is quick to adopt new technologies, leading to a focus on product innovations for oil companies.

Restraints: Shortage of Technicians.

The growing demand for industrial hoses is hindered by a shortage of technicians skilled in handling and maintaining these hoses. Limited consumer access to expertise can impede market growth.

Opportunities: Applications in Agriculture.

The agriculture sector's need for efficient water supply systems is boosting the industrial hose market. As agricultural processes modernize, the demand for industrial hoses is expected to grow, presenting lucrative opportunities.

Challenges: Lack of Product Differentiation.

A significant challenge is the lack of differentiation among products. The availability of inexpensive local alternatives and a lack of diverse offerings in emerging markets force manufacturers to lower prices, impacting profit margins and stifling market growth.

Some of the major players operating in the global industrial hose market are:

. Colex International Limited
. Dyna Flex, Inc.
. Eaton
. Flexaust Inc.
. Hose Master LLC
. Kanaflex Corporation Co.,ltd.
. KURIYAMA OF AMERICA, INC.
. Kurt Manufacturing
. Merlett Tecnoplastic SpA
. NORRES Schlauchtechnik GmbH
. Pacific Echo
. PARKER HANNIFIN CORP
. PIRANHA HOSE PRODUCTS, INC.
. Polyhose
. RYCO Hydraulics
. Salem-Republic Rubber Company
. Semperflex
. Titeflex
. Tomkins plc
. Transfer Oil S.p.A.
. Trelleborg Marine and Infrastructure
. ZEC S.p.A.

Key Segments covered in the market:

By Material

. Natural Rubber
. Polyvinyl Chloride (PVC)
. Nitrile Rubber
. Polyurethane
. Silicone
. Others

By Media

. Chemical
. Oil
. Water
. Hot Water and Steam
. Food and Beverage
. Air and Gas

By Industry

. Automotive
. Pharmaceuticals
. Infrastructure
. Oil & Gas
. Food & Beverages
. Chemicals
. Water & Wastewater
. Mining
. Agriculture
. Others

By Region

. North America (U.S., Canada, Mexico)
. Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
. Asia-Pacific (China, Japan, India, Rest of APAC)
. South America (Brazil and the Rest of South America)
. The Middle East and Africa (UAE, South Africa, Rest of MEA)

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About the report:

The market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.

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