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Global Hydraulic Hose Market Propelled by Demand from Growing Industrial and Construction Sectors
The global hydraulic rubber hose market is expected to reach a value of US$1,002 million by 2022. Its growth is owed to a greater demand from its end users in the sectors of agriculture, industrial, and construction.
Published 27 October 2015
The global hydraulic rubber hose market is expected to reach a value of US$1,002 million by 2022. Its growth is owed to a greater demand from its end users in the sectors of agriculture, industrial, and construction. The global hydraulic rubber hose market is growing at a 4.2% CAGR between 2014 and 2022. The market’s value in 2013 was US$697.8 million.
Products in the global hydraulic rubber hose market are most commonly made of thermoplastics or synthetic rubbers. Their primary function is to sustain the pressure of the water delivered by hydraulic systems. To perform this, the hoses are usually made of three layers: the inner layer, the middle layer of reinforcement, and the outer layer of protection. The outermost layer performs the task of protecting the hose from tears caused by abrasions, chemical corrosion, or exposure to extreme conditions.
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Some of the application segments of the global hydraulic rubber hose market are agriculture, power lines, telephony and mobile equipment, the construction sector, the equipment for material handling, and other minor areas such as BPO lines and hydraulic lifts. The most common types of hydraulic hoses are the standard hoses built for various water pressures, air hose, spiral hose, and mining hose.
Heavy Demand from Industrial and Construction Sectors
With the industrial and construction sectors showing the highest demand from the global hydraulic rubber hose market, their rapid current growth rates are directly affecting the global hydraulic rubber hose market’s rate of growth. Construction sites are in high need of hydraulic hoses that can withstand the working pressure, while the industrial sector has shown high demand for hoses that provide high levels of efficiency and boost employee safety. This includes steps that prevent bursting of hoses and leaks. Another reason for the consistent demand from the global hydraulic rubber hose market is the replacement of old hoses that are no longer usable.
Asia Pacific Shows Heavy Demand for Hydraulic Rubber Hoses
The global hydraulic rubber hose market is currently dominated by Asia Pacific, from a geographical perspective. The region has shown a substantial rate of industrialization, resulting in heavy construction and industrial activities. The growing number of construction projects coming up in the nations of China and India are creating huge demand for hydraulic hoses. Other regions in the global hydraulic rubber hose market include Europe, North America, MEA, and Latin America.
Fragmented Market Shows Regional Diversity
The top companies that operate in the hydraulic rubber hose market are Koman Hydraulic Co., Ltd., Eaton (Synflex), Kurt Manufacturing, Parker Hannifin Corp., Polyhose India Pvt. Ltd., Gates Corporation, Transfer Oil S.p.A., Piranha Hose Products, Inc., Manuli Rubber Industries, HIC International Co., and RYCO Hydraulics.
The global hydraulic rubber hose market is highly fragmented in nature. There is no player that holds a dominant lead in this global market. Due to this, the market has been marked by regional dominance of particular companies owing to ease of transportation from manufacturing plants to supply areas. The players in the global hydraulic rubber hose market continue to display innovations across regions in order to compete with others and to increase their market dominance.
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