Industrial Hose Market

Gates (US) and Eaton (Ireland) are Leading Players in Industrial Hose Market

The overall industrial hose market is likely to grow from USD 12.8 billion in 2019 to USD 17.0 billion by 2024; it is expected to grow at a CAGR of 5.8%. Rising demand for automobiles across the world and increasing modernization of agricultural processes are expected to provide huge growth opportunities to players in the industrial hose market. The growth of the industrial hose market is driven by increasing usage of industrial hoses in critical applications and rising infrastructure-related development activities across the world.

Key players operating in the industrial hose market include Gates (US), Eaton (Ireland), Parker Hannifin (US), RYCO Hydraulics (Australia), Kurt Manufacturing (US), Transfer Oil S.p.A (Italy), Piranha Hose Products (US), Colex International (UK), and NORRES (Germany). Many of the leading players are focusing on the implementation of organic growth strategies, such as product launches/developments; contracts and partnerships; acquisitions and expansions to boost their revenue.

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Top 2 players in industrial hose market:

Gates (US) is one of the leading players in the industrial hose market. The company is a global manufacturer of power transmission and fluid power solutions. It offers a broad product portfolio catering to a variety of replacement channel customers and original equipment ("first-fit") manufacturers of components. The company is present in North America, Europe, the Middle East and Africa (MEA), and APAC via a network of sales offices, suppliers and distributors. Gates focuses on increasing its customer base by launching new products, expanding its manufacturing sites and distribution facilities. It also focuses on developing efficient and cost-effective hoses to cater to demand from various industry verticals, such as oil & gas, water & wastewater, and food & beverages. The company sells its products globally under the “Gates” brand through a network of distributors, OEMs, and installers. To increase the market presence, the company participates in events, exhibitions, and sponsors various events, including G-Force and BMI racing. Such aggressive strategies have helped the company to highlight its presence in the industrial hose market. As of December 30, 2017, Gates owned more than 2,000 issued patents and pending patent applications, and over 3,000 registered trademarks in various jurisdictions. The company is continuously investing in R&D to innovate products as per new technologies and constantly expanding its product portfolio and value-added service offerings to support customers’ operations. In June 2018, the company launched the next generation of premium hydraulics with the new Gates MXT™ family of hoses. It introduced the new line of premium, multipurpose hydraulic hoses to meet the replacement needs of OEM markets. This new product is designed for various industries, such as agriculture, mining, construction, and other end markets.

Eaton (Ireland) is one of the leading power management companies. Eatons hydraulics business is a global leader in supporting companies that want to increase efficiency, reliability, and safety within industries, including construction & mining, agriculture & forestry, traditional & renewable energy, manufacturing & processing, oil & gas, and transportation & 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. The company also provides its solutions to manufacturers of components, including adapters, couplings, cylinders, fittings & assemblies, hose & tubing, motors, pumps, and valves. Eaton has a wide product portfolio and offers a series of products in the industrial hose market. In October 2017, the company launched the Dynamax EC881 hose series to expand its range of hydraulic hoses. This new 2 wire-braided hose has been designed to last and withstand tough applications. Intended for deployment in mobile applications, such as compact construction equipment, agricultural vehicles, aerial lift platforms, and forestry machines, this hose is also suitable for industrial applications such as hydraulic presses. It offers a wide range of hoses in more than 175 countries through its subsidiaries, sales offices, and distributors. The company offers technologically advanced hoses, which help meet customers’ demand. It is focusing on developing new hoses based on latest technologies to cater to new applications from various industry verticals. The company is also increasing channel partners to raise its market presence in the industrial hose market. In January 2019, Eaton’s vehicle group’s aftermarket division reached a distribution agreement with Bezares SA to become the North American distributor for its mobile power hydraulic portfolio. This partnership will allow Eaton’s aftermarket team to influence its partnership with Bezares to offer comprehensive mobile hydraulic solutions that meet customer needs for PTOs and other hydraulic products.

Related Reports:

Industrial Hose Market by Material (Natural Rubber, Nitrile Rubber, Polyurethane, PVC), Media, Industry (Automotive, oil & gas, Chemicals, Infrastructure, food & beverages, agriculture), and Geography - Global Forecast to 2024

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