Industrial Hose Assemblies Market Assessment and Key Insights Analyzed Till 2028

Industrial hoses are used for the purpose of conveying various fluids (gas, water, chemicals) and even solid material from their source to various machines and several other applications. Industrial hose assembly are nothing but combination of industrial hoses and relevant fittings. These industrial hose assemblies are commonly utilized in food & beverage industry, Construction & Mining, chemical & Pharmaceuticals, Oil & gas, Automotive, Agriculture, General Manufacturing and Other Industries.

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In terms of value, the global Industrial Hose Assemblies market is estimated to reach US$ 19,973.7 Mn by 2018 end and is anticipated to touch US$ 37,556.7 Mn by 2028, exhibiting a CAGR of 6.5% over the forecast period. North America is expected to be the largest market for Industrial Hose Assemblies capturing nearly 23.5% of the global market share owing to high demand from end user industries.

Rubber type industrial hoses are lighter in weight in comparison to plastic and metal type industrial hoses. Therefore, in end user industry, rubber type industrial hoses are anticipated to gain significant traction in the global industrial hoses assemblies market over the forecast period. There are some advantages of rubber hoses over metal hoses:

·         When the operator drags metal hoses on the floor, unprotected metal hoses may be damaged and the outer braiding of industrial hoses also may be break or burst before the forecasted time

·         At the time of manipulating or assembly of hoses, loses wire of braid may hurt the operator

·         Although, metal industrial hoses are mainly used for high pressure application. Moreover, metal hoses are costlier as compared to rubber and plastic hoses hence are used in limited places where cost is not a restraining factor. Metal hoses find its vast application in oil and gas industry.

·         Outer boundary of industrial hoses are coated or spired by protected stainless steel. An outer spiral easily get stuck behind obstacles in the factory thus damaging the hose. Additionally, the stainless steel industrial hose may easily kink behind the fitting, affecting the pressure supply of steam or may be causing leakage of steam.

 

By Segmentation:

By material, the rubber segment is expected to hold the largest market share owing to higher end use applications and higher efficiency for transferring fluid in medium pressure and high pressure applications. The rubber segment is expected to dominate the global market capturing a market share of 60.9% by 2018 end. Additionally, the segment is expected to grow with a higher CAGR and is forecasted to hold a market share of about 63.8% by 2028 end.

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On the basis of product type, the medium pressure segment holds a dominating position in the global industrial hose assemblies market owing to wide range of applications of medium range pressure hoses in several industries. In terms of value, the market size for the medium pressure segment is estimated to be pegged at US$ 10,424.9 Mn by end of 2018. Growing with a healthy CAGR of 7.0%, the market for the medium pressure segment is estimated to reach US$ 20,528.7 Mn by the end of the forecast period.

On the basis of end user, the food and beverage segment is expected to dominate the market with a market share of 18.5% by the end of 2018 and is projected to hold the same throughout the forecast period owing to improved demand from food and beverage industries and increasing automation requirements. However, it is the general manufacturing segment that is expected to grow with a higher CAGR than the other segments owing to higher demand for material handling and transferring equipment.

From a regional perspective, North America is expected to lead with a market value share of 23.5% by 2018 end; however, China is expected to surpass North America and dominate the market by the end of the forecast period. However, other regional markets are coming up to gain market share similar to North America including Western Europe and South East Asia and Pacific owing to higher growth witnessed in the demand and manufacture of various end use equipment such as agricultural, mining and construction equipment. If we look at the North American market, both U.S. and Canada are expected to play an important role in the growth of the overall market due to their positioning as renowned off road vehicle manufacturer regions. The markets in Latin America, Middle East & Africa and Eastern Europe hold similar but considerably smaller market share in value terms due to the fact that production of end use equipment is quite limited in these regions; however, the market share in Eastern Europe may expect to improve owing to improving agricultural equipment manufacturing in Russia.

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Competitive Landscape

Some of the key players involved in the manufacture of Industrial Hose Assemblies that have been included in the study are Eaton Corp. PLC, Parker Hannifin Corp., Gates Corporation, Continental AG, Trelleborg AB, Semperit AG Holding, Polyhose India Pvt. Ltd., Campbell Fittings, Inc. etc. Key market players are focussing on product innovation and differentiation with unique capabilities to strengthen their market positioning across the globe.

For more insights on the global industrial hose assemblies market, write to the analyst team of Future Market Insights at press@futuremarketinsights.com

About Industrial Automation Division at Future Market Insights

The Industrial Automation & Equipment division at FMI adopts a novel approach and innovative perspective in analyzing the global machinery and industrial automation market. A range of FMI’s market research reports offer comprehensive coverage of capital, portable, process, construction, industrial, and special purpose machinery used across manufacturing sector. The team also conducts distinctive analysis about installed base, consumables, replacement, and USP-feature application matrix, making us a prominent voice of authority in the industry. We are associates of choice for established as well as budding industry