Home >> News >> Industrial Hose Market will be growing at a CAGR of 4.8% during the forecast 2018 to 2026

Industrial Hose Market will be growing at a CAGR of 4.8% during the forecast 2018 to 2026

According to a new market research report published by Credence Research, “Industrial Hose Market – Growth, Future Prospects, and Competitive Landscape, 2018 -2026”, the global industrial hose market was valued at US$ 10.75 billion in 2017 and is expected to expand to CAGR by 4.8 per cent during the forecast period from 2018 to 2026.

Product & Market Insights

An industrial hose is a hollow pipe designed to transport fluids from one location to another. In hydraulic equipment, the hoses carry the fluid required to transmit the required force. Hoses are used across a wide range of end-use segments, including construction, mining, agriculture, industrial manufacturing, automotive, oil & gas, food & beverage, and pharmaceuticals, among others. The industrial hose market, which has been slowing down in recent years, is driven by the recovery of the construction industry in developed economies such as the US and strong infrastructure development in emerging economies. In addition, the increase in industrial output and the subsequent need for industrial automation had a positive impact on the overall demand for industrial machinery and related components.

Browse Full Report Originally Published by Credence Research at https://www.credenceresearch.com/report/industrial-hose-market

On the other hand, shifting from traditional farming practices to mechanized farming bodes well for market growth. Farmers around the globe are turning to mechanization to meet the growing demand for food by reducing losses. Most crops are damaged (about 50 per cent-60 per cent) during harvesting if the process is carried out manually. In addition to limiting harvesting losses, shifting to mechanized farming helps farmers produce five times more than traditional farming practices. According to the recent JRC study by the European Commission, some 40.3 per cent of farmers in Europe are expected to invest in modern agricultural equipment by 2020. The demand for industrial hoses in the region is expected to increase.

Lack of product differentiation remains a major challenge for manufacturers in the global industrial hose market. Lack of product offerings and availability of cheap local variants, especially in unorganized emerging-country markets, have forced established producers to lower prices, resulting in profit crunch and low-value growth. Thus, in order to remain competitive on the market, manufacturers are striving for product enhancement and to strengthen their distribution network in order to improve product reach.

Access Free Sample Copy of Research Report: https://www.credenceresearch.com/sample-request/59241

List of Companies Covered:

  • Gates Corporation
  • Eaton Corporation Plc
  • Parker Hannifin Corporation
  • RYCO Hydraulics Pty Ltd.
  • Piranha Hose Products, Inc.
  • Kurt Manufacturing Co., Inc.
  • Transfer Oil S.p.A
  • Polyhose India Pvt. Ltd.
  • Dyna Flex, Inc.
  • MAC Tubi S.p.A
  • ZEC S.p.A

Market Segmentation:

By Material Segment

  • Polyurethane
  • Rubber
  • PVC
  • Silicone
  • Others

By End-use Vertical Segment

  • Construction & Mining
  • Agriculture
  • Industrial Manufacturing
  • Automotive
  • Chemical and Oil & Gas
  • Food & Beverage
  • Others (Pharmaceuticals, Utilities, etc.)

By Geography Segment Type

  • North America (the U.S., Rest of North America)
  • Europe (U.K., Germany, France, Rest of Europe)
  • Asia Pacific (China, Japan, India, Rest of Asia Pacific)
  • Rest of the World (the Middle East & Africa, Latin America)

Access Free Sample Copy of Research Report: https://www.credenceresearch.com/sample-request/59241

Leave a Reply

Your email address will not be published. Required fields are marked *