Global Hydraulic Rubber Hose Market Driven by Increasing Demand from Construction Industry, to reach US$1,002 mn by 2022
Global Hydraulic Rubber Hose Market was valued at US$ 697.8 Mn in 2013 and the market is anticipated to grow at a CAGR of 4.2% during the period from 2014 to 2022 to reach an estimated value of US$ 1,002 Mn by 2022
Rising applications in construction, industrial, and agricultural sectors have bolstered the demand for global hydraulic rubber hoses market . In a report, titled “Hydraulic Rubber Hose Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2022” Transparency Market Research (TMR) provides a comprehensive overview of the market. It compiles relevant information pertaining to the demand and supply forces in the market and studies the various factors influencing them. A holistic insight into the competitive landscape in the market is also included in the report.
A hydraulic hose is made from thermoplastic material or synthetic rubber. It is used for transporting fluid with the help of a hydraulic machinery. Hydraulic hoses are made in three different layers, consisting of an inner layer, reinforcement layer, and an outer protective layer. These layers are typically designed to protect the hose from weather, abrasion, and other chemical and oils. Hydraulic hoses have superior features such as high endurance to shock, high sound absorption ability, low weight, resistance to rust, and self-lubrication, due to which, their application across various industrial sectors has been steadily increasing over the last few years.
These hoses can operate even in challenging environments at a construction site, which is a key factor driving their demand globally.
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According to the TMR report, the global hydraulic rubber hose market is expected to reach US$1,002 mn by the end of 2022. The market stood at US$697.9 mn in 2013, and is expected to exhibit a CAGR of 4.2% between 2014 and 2022.
Currently, hydraulic rubber hoses are witnessing high demand in the industrial and construction sectors. Hydraulic rubber hoses are considered effective due to their superior properties, which lend them high endurance even in the challenging environment at construction sites. This has been identified in the report as a key factor aiding the market’s growth. Moreover, the demand for reliable hoses from the industrial sector is also expected to increase in order to offer workers safety against hose bursts and leaks. Since hydraulic rubber hoses have a limited life span, the market is also witnessing increasing demand for replacing old hoses with newer ones.
Regionally, the global hydraulic rubber hose market can be segmented into Europe, Asia Pacific, North America, Latin America, and the Middle East and Africa. Among these regions, Asia Pacific reported the highest demand for hydraulic rubber hoses in 2013. The dominance of this region is attributed to the growth in the number of construction projects.
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The global hydraulic rubber hose market is highly fragmented and characterized by the present of many strong players. Nevertheless, some of the key vendors operating in the market are Hydraulic Co., Ltd., Gates Corporation, RYCO Hydraulics, Kurt Manufacturing, Piranha Hose Products, Inc., Transfer Oil S.p.A., Kurt Manufacturing, Parker Hannifin Corp., Eaton (Synflex), and others. A majority of the key manufacturers in the market are focusing on innovations to cater to the dynamic consumer demand.
The report analyzes the global hydraulic rubber hose market into the following segments:
Hydraulic Rubber Hose Market, by Application:
Industrial and Material Handling Equipment
Power and Telephony Mobile Equipment
Others (Hydraulic Lifts, Blowout Preventer Control Lines, etc.)
Hydraulic Rubber Hose Market, by Type:
High Pressure Rubber Hose
Low Pressure Rubber Hose
Others (Water Blast Hose, Fuel Hose, etc.)
Hydraulic Rubber Hose Market, by Geography:
Middle East and Africa (MEA)
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