Industrial hoses are used for the purpose of conveying various fluids (gas, water, chemicals) and even solid material from their source to various machines and several other applications. Industrial hose assembly are nothing but combination of industrial hoses and relevant fittings. These industrial hose assemblies are commonly utilized in food & beverage industry, Construction & Mining, chemical & Pharmaceuticals, Oil & gas, Automotive, Agriculture, General Manufacturing and Other Industries.
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In terms of value, the global Industrial Hose Assemblies market is estimated to reach US$ 19,973.7 Mn by 2018 end and is anticipated to touch US$ 37,556.7 Mn by 2028, exhibiting a CAGR of 6.5% over the forecast period. North America is expected to be the largest market for Industrial Hose Assemblies capturing nearly 23.5% of the global market share owing to high demand from end user industries.
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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Major Key Players:
Gates Corporation
Eaton Corporation Plc.
Parker Hannifin Corp.
Semperit AG Holding
Continental AG
Campbell Fittings
Abbott Rubber Company
Transfer Oil S.p.A.
Novaflex Group
United Flexible
On the basis of material, industrial hose assemblies market is scrutinized into rubber, plastic and metal. In terms of value, rubber type segment is anticipated to gain noteworthy traction in the global market owing to its association with low price, high performance and vast application in end user industries.
On the basis of product type, medium pressure segment is projected to grow with significant growth rate owing to high utilization rate in several end use industries including mining, construction, food and beverages etc. Moreover, these types of industrial hoses remain stable at the room temperature and possesses high degree of flexibility in terms of design.
Furthermore, medium pressure Product Types have comparatively higher strength as compared to the Low Pressure hoses. This is expected to increase the demand of Medium Pressure Product Types in the upcoming years, subsequently promoting the growth of Industrial Hoses market in the near future
On the basis of end user, the global industrial hose assemblies market is segmented into Food & Beverages, construction & mining, chemical & pharmaceuticals, oil & gas, automotive, agriculture, general manufacturing and other industries. Food & beverage segment is projected to be dominant in the market, in terms of value over the forecast period.
However, construction & mining, chemical & pharmaceuticals, oil & gas and other segment are also anticipated to gain significant traction in the global market owing increasing application of industrial hose assemblies in end user industries over the slated time period.
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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