The global industrial hose market is expected to grow from USD 10.2 billion in 2020 to USD 16.4 billion by 2025; it is expected to grow at a CAGR of 9.9% during 2020–2025. Key factors fueling the growth of this market include the increasing demand for robust industrial hoses for critical applications in several industries, growing infrastructure-related developments, and rising demand for PVC material. The demand for robust industrial hoses is increasing across the world to avoid fatal accidents, ensure smooth material handling even in extreme environmental/operational conditions, and so on various industries such as pharamaceuticals, agriculture, chemicals, and oil & gas create a strong demand for industrial hoses for efficient industrial operations. in the midst of COVID-19.
Key players in the industrial hose market comprise companies operating at different stages of the value chain. These include Gates Industrial Corporation plc (US), Eaton Corporation plc (Ireland), Parker-Hannifin Corporation (US), Ryco Hydraulics (Australia), Transfer Oil S.p.A. (Italy), Kuriyama of America, Inc. (US), Continental AG (Germany), Kurt Manufacturing (US), NORRES (Germany), and Colex International (UK). Many of these companies focus on adopting both organic and inorganic growth strategies, such as product launches and developments, partnerships, contracts, expansions, acquisitions, and mergers to strengthen their position in the market.
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Top 2 players in industrial hose market:
Gates Industrial Corporation plc (US) is a global manufacturer of power transmission and fluid power solutions. It offers a broad portfolio of products to diverse replacement channel customers and original equipment (first-fit) manufacturers as specified components. The company has a presence in North America, Europe, the Middle East and Africa (MEA), and APAC via a network of sales offices, suppliers and distributors. As a result, the company caters to worldwide customers of the industrial hose market. Gates focuses on increasing its customer base by launching new products, expanding its manufacturing sites and distribution facilities.
Eaton Corporation PLC (Ireland) is one of the leading providers of healthcare and medical technology products. Eatons hydraulics business is a global leader in supporting companies that want to increase efficiency, reliability, and safety within industries, including construction and mining, agriculture and forestry, traditional and renewable energy, manufacturing and processing, oil & gas, and transportation and material handling. The company’s global hydraulics team designs, manufactures, and markets a comprehensive line of reliable, high-efficient hydraulics, and industrial systems, including electro-hydraulics, fan drive, and hybrid and steering solutions.
Industrial Hose Market by Material (Natural Rubber, Nitrile Rubber, Polyurethane, PVC), Media Type, Industry (Automotive, oil & gas, Chemicals, Pharmaceuticals, Infrastructure, food & beverages, agriculture), and Geography - Global Forecast to 2025
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