The global industrial hose market is projected to reach USD 20.68 billion by 2029, from USD 15.83 billion in 2024, growing at a CAGR of 5.5% from 2024 to 2029.
The advancements in the agriculture industry 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 market. 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. The need for robust hoses in the manufacturing industries is one of the reasons that are likely to create several growth opportunities for newcomers.
Although the industrial hose market is growing, one of its let-down factors is the lack of technicians who are aware of these industrial hoses. Less reach to the end-user is also hindering the global industrial hose market.
REPORT METRIC |
DETAILS |
Market Size Available |
2023 to 2029 |
Base Year |
2023 |
Forecast Period |
2024 to 2029 |
CAGR |
5.5% |
Segments Covered |
By Material, Media, Industry, and Region |
Various Analyses Covered |
Global, Regional, & Country Level Analysis; Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
Market Leaders Profiled |
Gates (US), Eaton(Ireland), Parker Hannifin(US), RYCO Hydraulics(Australia), Kurt manufacturers(US), NORRES (Germany), Piranha Hose Products(US), Transfer Oil S.p.A (Italy), Colex International(UK), Kanaflex Corporation(US), Pacific Echo Inc.(US, Merlett Technoplastic S.p.A (Italy), Semperit(Austria), Kuriyama of America Inc.(US), Salem-Republic Rubber company(US) |
The automotive segment dominated the industrial hose market in 2023 and is anticipated to showcase a prominent CAGR during the forecast period. The growth of the automotive segment is primarily driven by the increasing demand for improvements in car engine performance, which is increasing the adoption of turbochargers, fueling the usage of this industrial hose across the vertical.
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.
Companies playing a major role in the global industrial hose market include Gates(US), Eaton(Ireland), Parker Hannifin(US), RYCO Hydraulics(Australia), Kurt manufacturers(US), NORRES (Germany), Piranha Hose Products(US), Transfer Oil S.p.A (Italy), Colex International(UK), Kanaflex Corporation(US), Pacific Echo Inc.(US, Merlett Technoplastic S.p.A (Italy), Semperit(Austria), Kuriyama of America Inc. (US), and Salem-Republic Rubber Company (US).
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