As per this study, the Global Hydraulic Hose Market in terms of revenue was valued USD 3.14 MN in 2021 and is anticipated to reach USD 4.52 MN by 2028 with a CAGR of 5.35%. By volume, the market was estimated at XX MN Meter in 2021 and is expected to reach XX MN Meter by 2028 with a CAGR of XX%.
Hydraulic hose is designed to carries fluid within hydraulic machinery. Technically, it is synthetic rubber (flexible), thermoplastic or Teflon protected hose, constructed with various layers of the metal body which strengthen the hose to withstand internal and external high pressure. This tool began to be used in the early 1940s when engineers discovered that hydraulic systems were lightweight, more compact, and self-lubricating. In fact, rising application of hydraulic hose in the military has impelled the development of hydraulic machines.
Market Dynamics
The rising demand for reliable hoses ensuring the safety of workers in the industrial sector by the prevention of hose leaks or bursts drives the growth of the market for hydraulic hoses. Hydraulic hoses have contributed a share of 34% with a majority of the demand coming from an industrial sector which uses high-value premium hoses for power transmission and other purposes.
Mining is another important outlet for hydraulic hose. Mining industry accounts for over 18% share of the revenue generated by hydraulic hose. Growth of mining industry across the world, especially in Asia Pacific, Latin America and Africa, is expected to boost the demand for hydraulic hose industry in the years to come. However, less advancement in technology and the limited number of raw materials available coupled with less scope for product differentiation is likely to hamper the market growth of hydraulic hose.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter's five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of hydraulic hose.
Market Segmentation
The broad hydraulic hose market has been sub-grouped into type and application. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Type
- Spiral Wire Hydraulic Hose
- Wire Braided Hydraulic Hose
By Application
- Engineering Machinery
- Mining
- Industrial Application
- Others
Regional Analysis
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for hydraulic hose in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Hydraulic Hose Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the hydraulic hose market includes Parker, Manuli, Alfagomma, Yokohama Rubber, Gates, Bridgestone, Eaton, Semperit, HANSA-FLEX, Sumitomo Riko, Continental, RYCO, Kurt and Others. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
METHODOLOGY:
A combination of primary and secondary research has been used to determine the market estimates and forecasts. Sources used for secondary research include (but not limited to) Paid Data Sources, Company Websites, Technical Journals, Annual Reports, SEC Filings and various other industry publications. Specific details on methodology used for this report can be provided on demand.