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Global Hydraulic Thermoplastic Hose and Couplings Market Expected to Reach US$ 747.2 Mn in 2022:Transparency Market Research
Hydraulic Thermoplastic Hose and Couplings (Agriculture Equipment, Construction Equipment, Industrial and Material Handling Equipment, Lubrication Lines, Power and Telephone Mobile Equipment) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2022
Published 08 September 2015
According to a new market report published by Transparency Market Research “Hydraulic Thermoplastic Hose and Couplings Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2022”, the market was valued at US$ 504.5 Mn in 2012, and is expected to reach US$ 747.2 Mn by 2022, growing at a CAGR of 4.5% from 2014 to 2022.
Growing population and urbanization across the globe, especially in Asia Pacific region, have provided necessary thrust to economic activities, leading to surge in the demand for residential and commercial spaces. Thus, a positive construction industry outlook has boosted the demand for construction equipment and hence the hydraulic thermoplastic hose and couplings. A potential challenge faced by the global hydraulic hose and couplings market is the lack of product differentiation, which forces manufacturers in the region to compete on price, thereby crunching margins and restricting investment on product innovations. Thus, a potential opportunity for manufactures in the region lies in product enhancement and diversification to meet multi-application requirements and expand the potential customer base.
Construction equipment including earthmoving equipment (such as excavators, backhoes, loaders, and cranes) and heavy construction vehicles (such as dumpers and tippers) was the largest application segment, accounting for around 26.1% of the overall market revenue in 2013. It is expected to remain the major application segment throughout the forecast period, witnessing strong growth especially in the first half of the forecast period. Over the forecast period 2014 – 2022, hydraulic couplings market is expected to record faster growth rate, growing at a CAGR of 4.6%, as compared to hydraulic thermoplastic hose market. Being the most vulnerable point in the hose assembly, hydraulic couplings need to be replaced more frequently, triggering higher replacement demand.
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Asia Pacific was the largest hydraulic hose and couplings market in 2013 and is poised to exhibit the fastest growth, growing at an estimated CAGR of 4.8% from 2014 to 2022. Booming construction sector and demand for agricultural equipment are collectively fueling market momentum in the region. Emerging economies such as Latin America and Middle East are expected to offer sound opportunity for the market growth in the longer term. The global hydraulic thermoplastic hose and couplings market is mature and highly fragmented. Major industry participants include Parker Hannifin Corporation, Gates Corporation, Eaton Corporation Plc, Manuli Rubber Industries S.p.A, Nitta Corporation, RYCO Hydraulics Pty Ltd., among others. The report studies the global hydraulic thermoplastic hose and couplings market, and provides estimates in terms of revenue (US$ Mn) from 2012 to 2022. Market estimates on the basis of application and type have also been provided for each region. The market has been segmented as follows:
Browse the full Hydraulic Thermoplastic Hose and Couplings (Agriculture Equipment, Construction Equipment, Industrial and Material Handling Equipment, Lubrication Lines, Power and Telephone Mobile Equipment) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2022 report at http://www.transparencymarketresearch.com/hydraulic-thermoplastic-hose-couplings-market.html
Hydraulic Thermoplastic Hose and Couplings Market, By Product Type
- Hydraulic Thermoplastic Hose
- Hydraulic Couplings
Hydraulic Thermoplastic Hose and Couplings Market, By Application:
- Agriculture Equipment
- Construction Equipment
- Industrial and Material Handling Equipment
- Lubrication Lines
- Power and Telephone Mobile Equipment
- Other Applications (Blowout Preventer Control Lines, etc.)
Hydraulic Thermoplastic Hose and Couplings Market, By Geography:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
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