Industrial Hose Market - Expected to be Valued at USD 14.8 Billion by 2023
DUBLIN, Dec. 11, 2017 /PRNewswire/ --
The "Industrial Hose Market - Global Forecast to 2023" report has been added to Research and Markets' offering.
The industrial hose market is expected to be valued at USD 14.81 Billion by 2023, growing at a CAGR of 5.6% between 2017 and 2023. The growth of this market can be attributed to the increasing demand for robust industrial hoses in critical applications and growing infrastructure-related developments.
The industrial hose market has been segmented on the basis of media type into water, oil, air and ventilation, hot water and steam, food and beverage, and chemical. The water media type led the industrial hose market in 2016. These hoses are mainly used in chemicals, agriculture, mining, food and beverages, and infrastructure industries for the suction and discharge of water in various applications, such as irrigation; gardening and fire equipment; refrigeration equipment, and food processing equipment.
On the basis of industry, the industrial hose market has been segmented into oil & gas, chemicals, food & beverages, agriculture, mining, water, automobile, infrastructure, pharmaceuticals, and others. The industrial hose market for the automobile industry is expected to grow at the highest CAGR between 2017 and 2023 owing to the growing applications of hoses in traditional as well as electric and hybrid electric vehicles. Moreover, increasing demand for automobiles across the globe fuels the growth of the market.
APAC led the overall industrial hose market and accounted for the largest market share, followed by Europe. The industrial hose market in APAC is expected to grow rapidly during the forecast period. The key drivers for the growth of this market in APAC include increasing demand for robust industrial hoses and growing infrastructure-related developments. Moreover, the increasing use of industrial hoses in food & beverages, chemicals, agriculture, and oil & gas industries further drives the market in the region.
Less scope for product differentiation is restraining the growth of the industrial hose market. A majority of the hose manufacturers serve all the industries and have similar product designs. As a result, hose manufacturers cannot differentiate their products on a large scale. Less technological innovations and a limited number of manufacturing materials available are posing a challenge for hose manufacturers to differentiate their products.
Companies Mentioned
- Eaton
- Emerging Players
- Gates
- Kanaflex
- Kurt Manufacturing
- Merlett Tecnoplastic
- Pacific Echo
- Parker
- Piranha Hose Products
- Ryco Hydraulics
- Transfer Oil
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industrial Hose Market, By Media Type
7 Industrial Hose Market, By Material
8 Industrial Hose Market, By Industry
9 Geographic Analysis
10 Competitive Landscape
11 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/s8tft6/industrial_hose
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