- Ubiquitous applications across diverse end users such as automotive, chemicals, construction, marine, and oil and gas may bring good growth opportunities for the industrial hose market during the forecast period
- The global industrial hose market, based on some major factors like cost-effectiveness and expansive growth opportunities, will record a CAGR of ~5% between 2020 and 2030
ALBANY, N.Y, Aug. 5, 2020 /PRNewswire/ -- The industrial hose market may churn substantial growth during the forecast period of 2020-2030, prominently due to the cutting-edge advancements across agriculture techniques and the considerable application outreach across other end users.
The analysts at TMR have projected the global industrial hose market to expand at a healthy CAGR of ~5% during the forecast period of 2020-2030. It is anticipated to reach a market value of US$ 21 bn by 2030.
Enhanced flexibility and bending features are leading to the replacement of hard hoses with flexible hoses. Manufacturers in the industrial hose market are also striving to improve storage capacity, material design, and other similar aspects to improve the quality of the products. These factors will assist the industrial hose market to sow the seeds of growth firmly.
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Industrial Hose Market: T.E.D (Transparency Expert Diagnosis) Talk
The analysts at Transparency Market Research attribute the expected growth of the industrial hose market to numerous components like focus on product development and innovations, inculcation of novel materials to enhance the quality, and new product launches. The analysts advise the manufacturers in the industrial hose market to expand their portfolio and concentrate on product diversification.
Furthermore, the analysts predict a rather slow run in terms of growth for the industrial hose market in the first quarter of 2020 due to the novel coronavirus outbreak. However, it will likely gain considerable momentum toward the end of 2020.
Explore 661 pages of expansive research, cutting-edge insights, and detailed projections. Analyze and discover the latest developments in the Industrial Hose Market (Type: Hydraulics, Pneumatics, and Others; Material: Rubber, PVC, Silicone, Polyurethane, and Others; Pressure: Low Pressure, Mid Pressure, and High Pressure; Media: Oil, Water, Gases, Steam & Hot Water, Chemicals, Food & Beverage, Abrasives, and Others; End Use: Automotive, Construction, Chemicals, Oil & Gas, Food & Beverages, Pharmaceuticals, Water & Wastewater, Agriculture, Marine, Mining, and Others; and Distribution Channel: Online and Offline) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 – 2030 at https://www.transparencymarketresearch.com/industrial-hose-market.html
Industrial Hose Market: Key Revelations
- On the basis of type, the hydraulic industrial hose segment may gain largely during the forecast period of 2020-2030
- The high-pressure segment is prognosticated to observe good growth across 2020-2030
- The oil media segment may grow rapidly throughout the forecast period
- In regards to the end-user, the chemicals segment may hold a substantial share between 2020 and 2030
- Asia Pacific may bag the first prize in terms of regional growth during the forecast period
Analyze global industrial hose market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study
Industrial Hose Market: Growth Propellers
The industrial hose market may gain largely on the customization factor. Manufacturers in the industrial hose market are focusing on developing customized hoses for catering to a specific niche of end-users. This development may bring immense growth opportunities for the industrial hose market. The expanding user base across diverse industrial applications may bring good growth for the industrial hose market.
- Use of materials like polyurethane in industrial hoses especially for catering to applications like fridge insulation, car parts, wood panels, constructing insulations, and others will prove beneficial for the growth of the industrial hose market
- Large-scale investments in research and development activities to explore untapped avenues can serve as anextensive growth generator for the industrial hose market
- The ongoing pandemic has resulted in increasing the production capacity for the manufacturing of pharmaceuticals and may increase the demand for industrial hoses greatly
- The expanding presence of manufacturers in the industrial hose market across various regions through mergers and acquisitions may prove to be a turning point for the growth of the industrial hose market
Request the Covid19 Impact Analysis across Industrial Hose Industries and Markets
Industrial Hose Market: Factors That Derail Growth
The counterfeiting menace across the industrial hose market is on an all-time high and may serve as a prominent growth dampener for the industrial hose market. The production of low-quality hoses and mislabeling them with the names of prominent players in the industrial hose market are damaging the growth rate of the industrial hose market. Nevertheless, organizations such as the World Industrial Hose Association and Quality Brands Protection Committee are striving hard to detect and eliminate the malpractices.
Global Industrial Hose Market: Segmentation
- Natural Rubber
- Synthetic Rubber
- Nitrile Rubber
- Low Pressure
- Mid Pressure
- High Pressure
- Steam & Hot Water
- Food & Beverages
- Oil & Gas
- Food & Beverages
- Water & Wastewater
By Distribution Channel
- North America
- Asia Pacific
- Middle East & Africa
- South America
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