PUBLISHER: The Business Research Company | PRODUCT CODE: 1436392
PUBLISHER: The Business Research Company | PRODUCT CODE: 1436392
An industrial hose is a flexible tube-shaped pipeline used for conveying materials, wastewater, debris, crude petroleum, mortar, concrete, fuel, gas, water, and chemicals to a specified point in industrial applications.
The primary types of industrial hoses are hydraulic hoses, lay flat hoses, WRAS hoses, oil-resistant hoses, corrugated hoses, strip wound, thermo-duct, and other types. Hydraulic hoses operate based on the transfer of liquid and energy, using materials such as rubber, polyurethane, polyvinyl chloride, metal, thermoplastics, composite, silicone, wired with wire braided and spiral wire. They find applications in industries such as oil and gas, water, agriculture, food and beverages, pharmaceuticals, automotive, mining, and others.
The industrial hose market research report is one of a series of new reports from The Business Research Company that provides industrial hose market statistics, including industrial hose industry global market size, regional shares, competitors with an industrial hose market share, detailed industrial hose market segments, market trends and opportunities, and any further data you may need to thrive in the industrial hose industry. This industrial hose market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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 during the historical period can be credited to factors such as increased international trade, infrastructure development, growth in the automotive industry, exploration in oil and gas, and expansion in agriculture.
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 projected growth in the forecast period can be ascribed to the expansion of e-commerce, increased automation, the rise in biotechnology, the growing emphasis on efficient waste management, and the expansion of renewable energy. Key trends in the forecast period encompass IoT integration, customization and specialty hoses, bio-based materials, digital twins, and a focus on ergonomics.
The industrial hose market is experiencing growth propelled by rapid urbanization. Urbanization, defined as the increase in the percentage of people living in cities and towns, necessitates the use of industrial hoses in urban areas for water discharge under pressure and other purposes. According to the World Bank Group, in 2021, 56% of the global population lived in urban areas, up from 56% in 2020. This indicates a trend of rapid urbanization that is anticipated to boost the industrial hose market in the coming years.
The industrial hose market is expected to experience growth due to the expanding pharmaceutical industry. The pharmaceutical industry involves the discovery, development, and production of drugs and medicines, utilizing industrial hoses for safe and efficient liquid and chemical transfer during manufacturing processes. According to IQVIA Inc., the projected total expenditure on pharmaceuticals in the U.S. is anticipated to range between $380 and $400 billion by 2025. Therefore, the growing pharmaceutical industry is a key driver for the industrial hose market.
Advancements in technology are a key trend in the industrial hose market, with major players developing new products with advanced technologies to maintain their market position. In April 2022, the Canada-based company Niedner Inc. introduced ALTRA 3D, a new hose technology that is a double-jacketed hose designed for high-pressure conditions and reliability in industrial applications. ALTRA 3D eliminates wrinkling and snaking while combining the benefits of a double-jacketed hose into one, offering safety and corrosion prevention for various industrial verticals.
Major companies in the industrial hose market are developing advanced technologies, such as cloud-based hose fabrication solutions, to improve assembly, enhance efficiency, and offer information on hoses and fittings. The cloud-based hose fabrication solution for hydraulic and industrial hoses ensures the construction of quality hose assemblies in various applications. 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 technology uses cloud technology, allowing seamless data transfer and safe document storage, offering reporting in different formats, back-up testing data, and adaptability to a customer's hydraulic or industrial hose testing needs.
In March 2022, Singer Industrial Inc., a US-based machine industry company, acquired Foster Hose and Fittings for an undisclosed amount. With this acquisition, Singer Industrial Inc. aims to enhance its presence in the industrial hose market and strengthen its position across various industries. Foster Hose and Fittings is a US-based industrial hose manufacturer and fabricator.
Major companies operating in the industrial hose market report are Continental AG, Bridgestone Corporation, Eaton Corporation PLC, Parker Hannifin Corporation, Trelleborg AB, Saint-Gobain S.A., Gates Industrial Corporation PLC, Semperit AG Holding, Alfagomma S.p.A., Polyhose India Pvt. Ltd., Kuriyama of America Inc., Hose Master, Inc., Kurt Manufacturing Company, Norres Schlauchtechnik GmbH, Flexaust Co., Inc., RYCO Hydraulics Pty Ltd., Kanaflex Corporation Co., Ltd., Abbott Rubber Company, Inc., PIRTEK USA, Transfer Oil S.p.A., Dantec Ltd., Flexicraft Industries, Salem-Republic Rubber Company, Amnitec Ltd., Anamet Europe B.V., Colex International Limited, Novaflex Group, Pacific Echo, Inc., Goodall Rubber Company, Elaflex Hiby Tanktechnik GmbH & Co. KG, Flextral, HoseXpress, JGB Enterprises, Inc., NewAge Industries, Inc., Pacific Hoseflex Pty Ltd., Penflex Corporation, Senior Flexonics, Inc., Swagelok Company, Texcel Infotech Pvt Ltd., United Flexible Inc.
Asia-Pacific was the largest region in the industrial hose market in 2023. The regions covered in the industrial hose market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the industrial hose market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The industrial hose market consists of sales of steam hoses, abrasive material hoses, heavy duty layflat hose and the medium duty layflat hose. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Industrial Hose Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on industrial hose market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for industrial hose ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The industrial hose market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.