The Industrial Hose Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Industrial Hose Global Market Report 2024, The industrial hose market size has grown strongly in recent years. It will grow from $13.29 billion in 2023 to $14.31 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to increased international trade, infrastructure development, automotive industry growth, oil and gas exploration, and agricultural expansion.
The industrial hose market size is expected to see strong growth in the next few years. It will grow to $18.9 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to e-commerce growth, renewable energy expansion, increased automation, rise in biotechnology, and growing emphasis on efficient waste management. Major trends in the forecast period include IoT integration, customization and specialty hoses, bio-based materials, digital twins, focus on ergonomics.
Rapid urbanization is expected to propel the growth of the industrial hose market going forward. Urbanization refers to the rise in the percentage of people who live in cities and towns. An industrial hose is used in urban areas for the discharge of water under pressure, among other uses. For instance, in 2021, according to the World Bank Group, a US-based international financial institution, there were 56% of the total global population living in urban areas, which increased from 56% in 2020. Therefore, rapid urbanization is anticipated to boost the market in the upcoming years. Therefore, rapid urbanization is driving the growth of the industrial hose market.
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The industrial hose market covered in this report is segmented –
1) By Type: Hydraulic Hoses, Layflat Hose, Wras Hose, Oil Resistant Hose, Corrugated Hoses, Stripwound, Thermo-Duct, Other Types
2) By Material Type: Rubber, Polyurethane, Polyvinyl Chloride, Metal, Thermoplastics, Composite, Silicone, Other Material Types
3) By Wire Type: Wire Braided, Spiral Wire
4) By Pressure: Low Pressure (Less Than 3000 Psi), Medium Pressure (Between 3000 to 6000), High Pressure (More Than 6000)
5) By Industry: Oil and Gas, Water, Agriculture, Food and Beverages, Pharmaceuticals, Automotive, Mining, Other Industries
Major companies operating in the industrial hose market are developing advanced technologies such as cloud-based hose fabrication solutions to improve assembly, enhance efficiency, assist in identifying fitting threads, and offer information on hoses and fittings. The cloud-based hose fabrication solution for hydraulic and industrial hoses is used to ensure the construction of quality hose assemblies in various applications. For instance, in May 2022, Continental AG, a Germany-based manufacturing company, introduced a new cloud-based hose fabrication solution for hydraulic and industrial hoses. The Smart Test Bench technology integrates with Continental’s CrimpIQ crimpers to ensure fabricators can build a quality hose assembly in every application. The smart test bench uses cloud technology that allows the CrimpCloud and Smart Bench to communicate with each other, ensuring seamless data transfer and safe document storage. The user-friendly system features an intuitive touch-screen panel that greatly improves control over testing parameters. The smart test bench technology offers reporting in different formats, back-up testing data for easy retrieval, and the ability to adapt to a customer’s hydraulic or industrial hose testing needs.
The industrial hose market report table of contents includes:
1. Executive Summary
2. Industrial Hose Market Characteristics
3. Industrial Hose Market Trends And Strategies
4. Industrial Hose Market – Macro Economic Scenario
…
32. Global Industrial Hose Market Competitive Benchmarking
33. Global Industrial Hose Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Industrial Hose Market
35. Industrial Hose Market Future Outlook and Potential Analysis
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