Global Industrial Hose Assemblies Market Expected to Grow at 6.5% CAGR through 2028 – Future Market Insights

Future Market Insights has rolled out a new market research report titled “Industrial Hose Assemblies Market: Global Industry Analysis 2013-2017 and Opportunity Assessment 2018-2028” examining the Industrial Hose Assemblies market and offers critical insights for the next 10 years. Based on the findings specified in the report, the market is expected to witness increasing demand on the backdrop of growing hose requirement in several end use industries involving fluid transferring and handling systems. The estimated value of the global Industrial Hose Assemblies market in 2018 is US$ 19,973.7 Mn and is expected to expand at a CAGR of 6.5% to reach US$ 37,556.7 Mn by the end of 2028.

Global Industrial Hose Assemblies Market: Dynamics    

Global Industrial Hose Assemblies market is driven by increasing construction, mining, agricultural and several other industrial activities that have led to improved demand for fluid transfer and handling equipment. One of the highlights of using Industrial Hose Assemblies in such applications is their capability to deliver or transfer the material with higher efficiency indirectly providing cost-effective solutions. This makes it the ideal transmission system for industrial equipment, automotive and off road vehicles including construction vehicles, mining equipment and material handling equipment. Additionally, Industrial Hose Assemblies are more versatile than simple tubes and piping mechanisms as they provide better results in extreme environmental conditions. Industrial Hose Assemblies are also preferred by various end users owing to several advantages such as higher resistance towards temperature, pressure and chemical reaction among others further benefitting the growth of the market in the coming years.

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However, there are some disadvantages associated with using Industrial Hose Assemblies that can hinder the growth of the market in the near future. Some of the factors include high dependency on various industrial activities, intense competition and distributed customer presence in various countries.

Global Industrial Hose Assemblies Market: Forecast 

By material, the rubber segment is expected to hold the largest market share owing to higher end use applications and higher efficiency for transferring fluid in medium pressure and high pressure applications. The rubber segment is expected to dominate the global market capturing a market share of 60.9% by 2018 end. Additionally, the segment is expected to grow with a higher CAGR and is forecasted to hold a market share of about 63.8% by 2028 end.

On the basis of product type, the medium pressure segment holds a dominating position in the global industrial hose assemblies market owing to wide range of applications of medium range pressure hoses in several industries. In terms of value, the market size for the medium pressure segment is estimated to be pegged at US$ 10,424.9 Mn by end of 2018. Growing with a healthy CAGR of 7.0%, the market for the medium pressure segment is estimated to reach US$ 20,528.7 Mn by the end of the forecast period.

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On the basis of end user, the food and beverage segment is expected to dominate the market with a market share of 18.5% by the end of 2018 and is projected to hold the same throughout the forecast period owing to improved demand from food and beverage industries and increasing automation requirements. However, it is the general manufacturing segment that is expected to grow with a higher CAGR than the other segments owing to higher demand for material handling and transferring equipment.

From a regional perspective, North America is expected to lead with a market value share of 23.5% by 2018 end; however, China is expected to surpass North America and dominate the market by the end of the forecast period. However, other regional markets are coming up to gain market share similar to North America including Western Europe and South East Asia and Pacific owing to higher growth witnessed in the demand and manufacture of various end use equipment such as agricultural, mining and construction equipment. If we look at the North American market, both U.S. and Canada are expected to play an important role in the growth of the overall market due to their positioning as renowned off road vehicle manufacturer regions. The markets in Latin America, Middle East & Africa and Eastern Europe hold similar but considerably smaller market share in value terms due to the fact that production of end use equipment is quite limited in these regions; however, the market share in Eastern Europe may expect to improve owing to improving agricultural equipment manufacturing in Russia.

Leading market players dominating the global industrial hose assemblies market

Some of the key players involved in the manufacture of Global Industrial Hose Assemblies that have been included in the study are Gates Corporation, Parker Hannifin Corp., Parker Hannifin Corp., Semperit AG Holding, Campbell Fittings, Inc., United Flexible, Continental AG, Eaton Corporation Plc., Polyhose India Pvt. Ltd., Trelleborg AB, RYCO Hydraulics, RADCOFLEX Australia Pty Ltd., Transfer Oil S.p.A., ABCRUBBER Inc., FlexFit Hose LLC, Abbott Rubber Company, Inc., 4-STAR Hose & Supply, Inc., Neptech Inc., Chamberlin Rubber Company, Inc., Alfagomma S.p.A., IVG Colbachini S.p.A., Integraflex Hose Assemblies, Wellcall Hose (M) Sdn Bhd., Powerflex Industries and Novaflex Group Key market players are focusing on product innovation and differentiation with unique capabilities to strengthen their market positioning across the globe.

Market Segmentation

The market segmentation offered in the report study is mentioned below:

By Material

  • Rubber
  • Plastic
  • Metal

By Product Type

  • Low Pressure
  • Medium Pressure
  • High Pressure

By End User

  • Food & Beverages
  • Construction & Mining
  • chemical & Pharmaceuticals
  • Oil & gas
  • Automotive
  • Agriculture
  • General Manufacturing
  • Other Industries

By Region

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • South East Asia & Pacific
  • Middle East & Africa
  • China
  • Japan

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