Dublin, June 28, 2019 (GLOBE NEWSWIRE) -- The "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" report has been added to ResearchAndMarkets.com's offering.
The industrial hose market was valued at USD 12.02 billion in 2018 and is projected to reach USD 17 billion by 2024; it is expected to grow at a CAGR of 5.8% during the forecast period. The industrial hose market has been segmented on the basis of material, media, industry, and geography.
The growth of this market is mainly driven by factors such as increasing demand for robust industrial hoses in critical applications, growing infrastructure-related developments, and rising demand for PVC material. Increasing demand for automobiles worldwide and modernization of agriculture processes are expected to create significant growth opportunities for players in the industrial hose market during the forecast period. However, the dearth of technical know-how of industrial hoses restrains the growth of the market.
Gates (US), Eaton (Ireland), Parker Hannifin (US), RYCO Hydraulics (Australia), Transfer Oil S.p.A. (Italy), Kurt Manufacturing (US), Piranha Hose Products (US), Norres (Germany), and Colex International (UK) are the major players in the industrial hose market.
The report also includes the profiles of companies such as, Kanaflex Corporation (US), Merlett Tecnoplastic S.p.A. (Italy), Pacific Echo, Inc. (US), Semperit (Austria), Kuriyama of America, Inc. (US), Titeflex Corporation (US), Trelleborg Corporation (France), Polyhose (India), Flexaust Inc. (US), Salem-Republic Rubber Company (US).
Natural rubber hoses to hold a significant share of the industrial hose market by 2024
High demand for natural rubber in various industrial segments provides opportunities for the growth of the industrial hose market. The automobile market is also anticipated to increase the demand for natural rubber production in Thailand and Indonesia. The natural rubber has unique physical and chemical properties, including susceptibility to vulcanization. Hence, increasing demand for natural rubber hoses in the agriculture, mining, construction, and food processing industries is expected to provide ample opportunities for the industrial hose market.
Automotive industry to hold a significant share of the industrial hose market by 2024
The industrial hose market for the automotive industry accounted for the largest share in 2018. In automobiles, hoses are used to carry fuel and lubricants. These are also used in cooling and hydraulic systems. Advancements, such as autonomous vehicles, electric vehicles, and hybrid electric vehicles in the automotive industry and rising demand for automobiles across the world are expected to provide growth opportunities to hose manufacturers. Moreover, the growing demand for automobiles in emerging economies, such as China, India, Australia, and Japan, is expected to increase the demand for industrial hoses in the coming years.
APAC to be the largest shareholder in the industrial hose market by 2024
APAC is expected to hold the largest share of the industrial hose market during the forecast period. APAC is a potential market for industrial hoses owing to rising urbanization, increasing demand for automobiles, and modernization of agricultural processes. High population density and growing per capita income of this region, along with large-scale industrialization and urbanization, are driving the growth of the industrial hose market. Similarly, end-user industries, such as oil & gas, automotive, infrastructure, chemicals, and pharmaceuticals, are expected to create enormous opportunities for industrial hose providers.
Key Topics Covered
1 Introduction
1.1 Study Objectives
1.2 Definition
1.3 Study Scope
1.3.1 Markets Covered
1.3.2 Geographic Scope
1.3.3 Years Considered
1.4 Currency
1.5 Stakeholders
2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Secondary Sources
2.1.2 Primary Data
2.1.2.1 Breakdown of Primary Interviews
2.1.2.2 Sampling Techniques and Data Collection Methods
2.1.2.3 Primary Sources
2.1.2.4 Key Industry Insights
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Market Breakdown and Data Triangulation
2.4 Research Assumptions
3 Executive Summary
4 Premium Insights
4.1 Industrial Hose Market (2019-2024)
4.2 Industrial Hose Market, By Material
4.3 Industrial Hose Market, By Industry and Country
4.4 Industrial Hose Market Geographic Snapshot
5 Market Overview
5.1 Introduction
5.1.1 Drivers
5.1.1.1 Increasing Demand for Robust Industrial Hoses in Critical Applications
5.1.1.2 Growing Infrastructure-Related Developments
5.1.1.3 Rising Demand for PVC Material
5.1.2 Restraints
5.1.2.1 Dearth of Technical Know-How of Industrial Hoses
5.1.3 Opportunities
5.1.3.1 Growing Demand for Automobiles Worldwide
5.1.3.2 Increasing Modernization of Agricultural Processes
5.1.4 Challenges
5.1.4.1 Long Lead Time
5.1.4.2 Lack of Product Differentiation
5.2 Types of Industrial Hoses
5.2.1 Layflat Hose
5.2.2 WRAS Hose
5.2.3 Oil Resistant Hose
6 Industrial Hose Market, By Material
6.1 Introduction
6.2 Natural Rubber
6.2.1 Hoses Made of Natural Rubber to Account for Largest Share of the Industrial Hose Market
6.3 Nitrile Rubber
6.3.1 Demand for Hoses Made of Nitrile Rubber Carrying Chemical Media to Increasing During Forecast Period
6.4 Polyvinyl Chloride (PVC)
6.4.1 PVC to Witness Highest CAGR for Water Media During Forecast Period
6.5 Silicone
6.5.1 Chemical Media to Lead Silicone Industrial Hose Market During Forecast Period
6.6 Polyurethane
6.6.1 Polyurethane to Grow at the Highest CAGR During Forecast Period
6.7 Others
7 Industrial Hose Market, By Media
7.1 Introduction
7.2 Chemical
7.2.1 Chemical Media to Capture Considerably Large Share of Industrial Hose Market
7.3 Water
7.3.1 Water & Wastewater Industry to Dominate Industrial Hose Market in Terms of Size During Forecast Period
7.4 Oil
7.4.1 Oil & Gas Industry to Account for Largest Share of Industrial Hose Market During Forecast Period
7.5 Hot Water and Steam
7.5.1 Hot Water and Steam Media to Witness Significant Growth During Forecast Period
7.6 Air and Gas
7.6.1 Air and Gas Media to Exhibit Highest CAGR in Industrial Hose Market During Forecast Period
7.7 Food and Beverage
7.7.1 Food & Beverages Industry Hold Major Share of Industrial Hose Market for Food and Beverage Media During Forecast Period
8 Industrial Hose Market, By Industry
8.1 Introduction
8.2 Automotive
8.2.1 Rise in Innovations and Developments in Automotive Industry Drives Growth of Industrial Hose Market
8.3 Pharmaceuticals
8.3.1 APAC to Lead Industrial Hose Market for Pharmaceuticals Industry During Forecast Period
8.4 Infrastructure
8.4.1 APAC to Dominate Industrial Hose Market for Infrastructure Industry During the Forecast Period
8.5 Oil & Gas
8.5.1 Industrial Hoses Can Be Deployed in Wide Range of Oil & Gas Applications
8.6 Food & Beverages
8.6.1 Industrial Hoses Play Key Role in Manufacturing Processes in the Food & Beverages Industry
8.7 Chemicals
8.7.1 Industrial Hoses Widely Used in Suction and Discharge in the Depot, Dock, In-Plant Transfer of Chemicals
8.8 Water & Wastewater
8.8.1 Demand for Clean Water and Wastewater Treatment Facilities Fuels Industrial Hose Market Growth for Water & Wastewater Industry
8.9 Mining
8.9.1 Demand for Industrial Hoses is Driven By Rise in Production Efficiency in Mining Industry
8.10 Agriculture
8.10.1 China and India are Major Contributors to Growth of Industrial Hose for Agriculture Industry
8.11 Others
9 Geographic Analysis
9.1 Introduction
9.2 North America
9.2.1 US
9.2.1.1 US to Command North American Market
9.2.2 Canada
9.2.2.1 Canada Accounted for Second-Largest Share of North American Market in 2018
9.2.3 Mexico
9.2.3.1 Rapid Industrialization in Mexico Drives Industrial Hose Market Growth
9.3 Europe
9.3.1 Germany
9.3.1.1 Germany Expected to Lead European Industrial Hose Market During the Forecast Period
9.3.2 UK
9.3.2.1 UK to Witness High Growth Rate in European Industrial Hose Market During Forecast Period
9.3.3 France
9.3.3.1 Increasing Use of Industrial Hose in France to Create Significant Demand From Automotive and Infrastructure Industries During Forecast Period
9.3.4 Italy
9.3.4.1 Italy to Witness Increasing Demand for Industrial Hoses From Automotive Industry During Forecast Period
9.3.5 Rest of Europe
9.4 Asia Pacific
9.4.1 China
9.4.1.1 China to Witness Rapid Growth in Global Industrial Hose Market
9.4.2 Japan
9.4.2.1 Japan to Witness Significant Demand for Industrial Hose Market During Forecast Period
9.4.3 India
9.4.3.1 India Expected to Hold Second-Largest Market Share in APAC From 2019 to 2024
9.4.4 South Korea
9.4.4.1 Middle East & Africa to Witness Increasing Demand for Industrial Hose Market During Forecast Period
9.4.5 Rest of APAC
9.5 Rest of the World
9.5.1 Middle East & Africa
9.5.1.1 Middle East & Africa to Witness Increasing Demand for Industrial Hose Market During Forecast Period
9.5.2 South & Central America
9.5.2.1 Industrial Hose Market in South & Central America is Growing at Significant Rate Due to Increasing Use of Industrial Hose in Automobile, Infrastructure, and Oil & Gas Industries
10 Competitive Landscape
10.1 Introduction
10.2 Market Player Ranking Analysis
10.3 Competitive Leadership Mapping
10.3.1 Visionary Leaders
10.3.2 Dynamic Differentiators
10.3.3 Innovators
10.3.4 Emerging Companies
10.4 Strength of Product Portfolio (25 Companies)
10.5 Business Strategy Excellence (25 Companies)
10.6 Competitive Scenario
10.7 Competitive Situations & Trends
10.7.1 Product Launches/Developments
10.7.2 Partnerships/ Contracts
10.7.3 Mergers and Acquisitions
10.7.4 Expansions
11 Company Profiles
11.1 Key Players
11.1.1 Eaton Corporation PLC
11.1.2 Gates Industrial Corporation PLC
11.1.3 Parker Hannifin Corporation
11.1.4 RYCO Hydraulics
11.1.5 Transfer Oil S.p.A.
11.1.6 Kurt Manufacturing
11.1.7 Piranha Hose Products Inc.
11.1.8 NORRES Schlauchtechnik MBH
11.1.9 Colex International Ltd.
11.2 Other Key Companies
11.2.1 Flexaust Inc.
11.2.2 Kanaflex Corporation Co. Ltd.
11.2.3 Kuriyama of America Inc.
11.2.4 Merlett Tecnoplastic S.p.A.
11.2.5 Pacific Echo Inc.
11.2.6 Polyhose
11.2.7 Semperit (Semperflex)
11.2.8 Salem-Republic Rubber Company
11.2.9 Titeflex Corporation
11.2.10 Trelleborg Corporation
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