Industrial Hose Market size is set to grow by USD 2.59 bn from 2023-2027, increasing demand for pvc to boost the market growth, Technavio

NEW YORK, May 10, 2024 /PRNewswire/ -- The global industrial hose market size is estimated to grow by USD 2.59 bn from 2023-2027, according to Technavio. The market is estimated to grow at a CAGR of 4.43% during the forecast period. 

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Market Driver

The industrial hose market encompasses a wide range of applications, including HVAC vacuum hoses, coolant systems, fuel systems, air conditioning systems, brake systems, and power steering systems. These hoses require superior performance to ensure workplace safety and minimize workplace accidents, as well as prevent environmental damage. Regulatory requirements, such as those set by NSF, mandate the use of oil-resistant hoses made from high-strength fibers, like steel wires, and PVC material. In the automotive industry, industrial hoses are utilized in various systems, such as hydraulic machines and transfer oil lines, for EVs, as well as in agriculture and chemical applications. OICA members, including Ryco Hydraulics, Continental, Kurt, NORRES, and Colex International, offer a diverse range of industrial hoses to cater to these demands. These hoses are essential for the proper functioning of machinery and equipment, ensuring optimal performance and longevity. Industrial hoses are also used in critical applications, such as chemical hoses, where safety and regulatory compliance are paramount. These hoses must meet stringent requirements, including resistance to chemicals and oil, as well as high-pressure capabilities. By investing in high-quality industrial hoses, industries can minimize downtime, reduce maintenance costs, and ensure workplace safety.

Market Challenges

• The industrial hose market relies heavily on rubber and steel as key raw materials for production. Price instability in the global rubber market, caused by demand-supply imbalances, negatively impacts vendors' profit margins and market growth. Steel, another essential material, is also used extensively. This market caters to various sectors, including energy, fluids, end-use industries, pipeline, mechanized farming, urban and rural contexts, and food demand. Industrial hoses are utilized in diverse applications such as hosepipes, automotive sector, electric vehicles, autonomous driving, and new mobility services. Material types include rubber, metal, and silicone, while media types encompass water, oil, gases, and solid substances. Hoses come in various components, pressure levels, diameters, and operating conditions. Industrial hydraulic hoses and pneumatic hoses facilitate fast, efficient, and cost-effective transfer of substances. Regulations, standards, technology, and customization also influence market trends.

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Segment Overview 

This industrial hose market report extensively covers market segmentation by

1. Application 
• 1.1 Oil and gas
• 1.2 Chemicals
• 1.3 Food and beverages
• 1.4 Automotive
• 1.5 Others
2. Geography 
• 2.1 APAC
• 2.2 North America
• 2.3 Europe
• 2.4 Middle East and Africa
• 2.5 South America

1.1 Oil and gas- The industrial hose market plays a pivotal role in the energy sector, facilitating the efficient transfer of fluids, including water, oil, gases, and solids, in various end-use industries. In urban areas and rural contexts, these hoses are essential for energy conservation in mechanized farming, industrial processes, and the automotive sector. The material types, such as rubber, metal, and silicone, and media types, including water, oil, and gases, cater to diverse operating conditions. The increasing demand for food and the adoption of advanced agricultural techniques necessitate the use of customized industrial hoses for irrigation systems. In the energy sector, industrial hydraulic hoses and pneumatic hoses are indispensable for pressure transmission in pipeline systems, hydraulic fracturing, and other advanced techniques. The automotive sector, including electric vehicles (EVs) and autonomous driving, relies on industrial hoses for vehicle production and charging infrastructure. Regulations and standards ensure the safety and reliability of hoses in various applications. Technology advancements enable the production of hoses with superior pressure and diameter capabilities, ensuring fast, efficient, and cost-effective transfer. Investment in infrastructure development and the rise of new mobility services further boost the demand for industrial hoses. The hosepipe market is expected to grow significantly due to the increasing need for flexible tubes for transferring substances in various industries. Welds and connections ensure the integrity and durability of hoses under different operating conditions.

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Research Analysis

The Industrial Hose Market encompasses the production and distribution of specialized hoses used in various industries, including Agriculture and EV manufacturing. These hoses are essential for transporting fluids, such as chemicals and hydraulic fluids, in applications like Mechanized Farming, Hydraulic Machines, and Pipeline Systems. Key players in this market offer customized industrial hoses made from materials like PVC, ensuring compliance with Regulations and Standards. The adoption of these hoses contributes to Energy Conservation and Technology advancements in sectors like Vehicle Production and Mechanized Farming. Investment in Infrastructure for the manufacturing and distribution of industrial hoses is crucial for meeting the growing demand. The market for industrial hoses is diverse, catering to various industries and applications, and is subject to continuous evolution with advancements in Pressure and Flow requirements.

Market Research Overview

The Industrial Hose Market encompasses a diverse range of products used in various industries for transporting fluids and gases. These hoses are made from different materials such as rubber, PVC, and steel, catering to specific applications. The market is driven by factors like increasing industrialization, growing demand for chemical and petrochemical products, and the need for efficient fluid transfer systems. Key players in this market offer a wide range of hose types, including reinforced hoses, flexible hoses, and coiled hoses. The market is segmented based on application, end-user industry, and region. The Asia Pacific region is expected to dominate the market due to the presence of major industries and increasing demand for industrial hoses. The market is expected to grow at a significant rate in the coming years, driven by technological advancements and increasing demand for automation in industrial processes.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Application
• Oil And Gas
• Chemicals
• Food And Beverages
• Automotive
• Others
• Geography
• APAC
• North America
• Europe
• Middle East And Africa
• South America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio