June 13, 2024
Industrial Hose Market

Industrial Hose Market in Trends by Safety and Efficiency

The Industrial Hose Market comprises transfer of liquids and gases including acids, chemicals, fuel oil, water, and other corrosive, abrasive and reactive materials. Industrial hoses are manufactured from specialized polymers such as PVC, nitrile rubber, silicone rubber, and neoprene depending on specific service requirements. They find applications in various end-use sectors including oil & gas, chemical, food & beverage, manufacturing, and pharmaceutical among others. The demand for high quality and innovative industrial hoses is driven by need for safety, efficiency, and minimizing environmental impact in industrial operations.

The Global Industrial Hose Market is estimated to be valued at US$ 14.88 Bn in 2024 and is expected to exhibit a CAGR of 9.9% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the Industrial Hose Market Demand are Gates Industrial Corporation plc, Eaton Corporation plc, Parker-Hannifin Corporation, Ryco Hydraulics, Transfer Oil S.p.A., Kuriyama of America, Inc., Continental AG, Kurt Manufacturing, NORRES, Colex International, Sanipure Water Systems, Polyhose, Vardhman Hoses Pvt Ltd, Manuli Hydraulics, Bridgestone Hose Power, Kingdaflex Hydraulic Hose, Dunlop Hiflex, National Rubber Industries, Letone, Perfect Hydraulic India.

The growing demand from end-use industries such as oil & gas, chemicals, food & beverage, manufacturing is a major factor driving the industrial hose market. Rapid industrialization especially in emerging economies of Asia Pacific is further propelling the market growth.

Key players are focusing on global expansion through partnerships, collaborations, and acquisitions to cater to growing demand across geographies. Manufacturers are also investing in development of specialized hoses made from high-grade materials for applications in critical industries like oil & gas.

Market key trends

Growing focus on safety, efficiency and productivity in industrial operations is a major trend in the industrial hose market. Manufacturers are developing hoses equipped with leak detection systems and wireless monitoring technologies for real-time tracking. Advanced hoses with minimum bend radius, crush resistance and high tensile strength offer smoother workflow. Rising demand for sustainable hoses made from renewable materials like natural and synthetic rubbers is also shaping the market trends.

Porter’s Analysis

Threat of new entrants: The industrial hose market requires high investments for R&D and manufacturing operations. Established brands have strong relationships with OEMs which make it difficult for new entrants.

Bargaining power of buyers: Large industrial buyers have significant bargaining power due to bulk purchasing. However, need for specialized hoses limits options.

Bargaining power of suppliers: Major hose manufacturers control global supply chains. Rise in raw material costs can be passed on to buyers.

Threat of new substitutes: Plastic hoses and pipes pose a threat as substitutes. However, rubber hoses have advantages of flexibility, burst resistance and ability to handle vacuum.

Competitive rivalry: The market is consolidated with top players competing on product quality, consistency and customer service. Price competition is limited due to differentiated offerings.

Geographical Regions

North America accounts for the largest value share currently due to strong manufacturing sector. Growth is driven by oil & gas industries and rising construction activity.

Asia Pacific region is poised to be the fastest growing market during the forecast period led by China, India and Southeast Asian countries. Expanding manufacturing industries and investment in infrastructure will drive hose demand.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it