The global Industrial Hose Market, valued at USD 15 Billion in 2023, is expected to reach USD 19.09 Billion by 2028, with a growth rate (CAGR) of 5.5% from 2024 to 2028.
The growth of the industrialization in developing nations like China, India and some other countries is driving the growth of the global industrial hose market.
The advancements in the agriculture industry of using technology, the increase in the usage of the latest technology and recently developed cultivating techniques that are done by machinery are among the reasons for the growth of the industrial hose market. The adoption of the latest technological advancements in various industries such as automotive, healthcare, and many more is the prime reason for the rise of the industrial hose market's market revenue. The automotive industry is one of the promising end-use applications for industrial hoses, which is estimated to expand with a noteworthy growth rate in the next few years.
Also, the wide range of applications and options to choose from the various types of hoses are some of the prime factors for the increase in the global industrial hose market. Moreover, with the competitive spirit of the major players, prices of the hoses are made aggressively. These are the factors that are propelling the growth of the Global Industrial Hose Industry.
The growing demand for the automobile industry in the forecast is anticipating the growth of this industrial hose market because of the advantages they offer. And the need for robust hoses in the manufacturing industries is one of the reasons that are likely to create several growth opportunities for newcomers.
Among all the Industry category, the automotive sector that has taken the significant revenue share of it. And it is also positively propelling its growth because of the applications of these industrial hoses. The demand for improvements in the engine performance of a car is increasing the adoption of turbochargers, which is fueling the usage of this industrial hose across the vertical.
The Industrial Hose Market Report includes the segmentation of Regions with their respective Countries.
North America Industrial Hose Market includes U.S, Canada
Europe Industrial Hose Market includes the UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic & Rest of Europe
Asia Pacific Industrial Hose Market includes India, China, Japan, South Korea, Australia & New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore & Rest of APAC
Latin America Industrial Hose Market includes Brazil, Mexico, Argentina, Chile & Rest of LATAM
Middle East & Africa Industrial Hose Market includes KSA, UAE, Israel, rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan, rest of MEA
Regionally, during the forecast period, APAC is expected to hold the largest share of the industrial hose market. APAC is the leading market for industrial hoses in the automotive, infrastructure, and agricultural industries, with high demand driven by countries such as China, India, and Japan. APAC is a prospective market for industrial hoses due to increased urbanization, increased demand for automobiles, and modernization of agricultural procedures. High population density and increasing per capita revenue in this region, along with large-scale industrialization and urbanization, are driving the market growth.
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