Industrial Hose Market is expected to reach US$ 22.1 Billion by 2030

Growing Infrastructure Developments Catalyze Industrial Hose Market Growth

According to our latest study on "Industrial Hose Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Material, Industry Vertical, and Geography," the market is expected to grow from US$ 13.5 billion in 2022 to US$ 22.1 billion by 2030; it is estimated to grow at a CAGR of 6.4% from 2022 to 2030.

Source: The Insight Partners Analysis

The growing infrastructure-related tasks encourage private participation in infrastructure (PPI) to make high investments, creating a demand for hoses. Rapidly increasing urbanization and industrialization are propelling infrastructural developments. The use of hoses is rapidly growing in water and wastewater treatment, oil and gas production facilities, and automotive applications in global and regional markets. Most factors are predicted to shape the marketplace in Asia Pacific and Middle East & Africa. In addition, demand for hoses is also growing in applications where they are used for different purposes, together with material handling within the production industry and carrying different types of fluids from one location to some other in numerous industries. This factor is catalyzing the industrial hose market.

According to the Organisation Internationale des Constructeurs d'Automobiles (OICA), in FY 2019, the worldwide sales of passenger automobiles and commercial motors were US$ 67 million and US$ 25 million, respectively. The growing sales maintain the automotive sector at the leading edge of innovation. The growth of the sector can be attributed to high investments in R&D, improvements in electric-powered motors (EVs), and the emergence of self-reliant usage of new mobility services. Moreover, the evolving demand for cars in economies, including China, India, Australia, and Japan, is predicted to create a need for industrial hoses in coming years.

An industrial hose is considerably used across many industries for maximum operational performance and fuel, chemicals, bulk materials, and air transfer. End users focus on the performance parameters of industrial hoses made of distinct materials. The preference for industrial hose varies from industry to industry. For instance, chemical transfer hoses are extensively used to switch commercial chemicals, and petroleum switch hoses are used to switch gas, petroleum, and oil in numerous industries, such as shipbuilding, agriculture, construction, and railroads. Steam hoses have garnered a mammoth reputation for steam-cleaning, warmth control, and fire prevention in chemical plants, refineries, and steam pumps.

Industrial hoses an increasingly used across the food & beverages sector around the world to deal with various types of bulk material. However, complying with the rules laid down with the aid of using the Food and Drug Administration (FDA) referring to the materials of desire is essential. The worldwide programs of industrial hoses in numerous countries is a prime factor which is expected to influence the demand during the forecast period.

Colex International Ltd, Eaton Corporation PLC, Flexaust Inc, Gates Corporation, Kanaflex Corporation, Kuriyama Holdings Corporation, NORRES Schlauchtechnik GmbH, Parker-Hannifin Corporation, RYCO Hydraulics Pty Ltd, and Transfer Oil S.p.A. are among the key industrial hose market players profiled during the study. Several other major companies were studied and analyzed during this research study to get a holistic view of the market and its ecosystem.

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