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Data Bridge Market Research analyses that the Hoses Market is expected to reach a value of USD 36,007.00 million by 2030, at a CAGR of 6.1% during the forecast period. The global hoses market report also comprehensively covers pricing analysis, patent analysis, and technological advancements.
The global hoses market is fragmented in nature, as it consists of many global players, such as Gates Corporation and PARKER HANNIFIN CORP among others. The presence of these companies produces competitive prices, various types of hoses, and other innovative hoses products with services across the globe. Due to the presence of the players at regional and international levels, suppliers and manufacturers offer products and services with different specifications and characteristics for all budgets. The increasing adoption of polymer hoses and the increasing need for durable hoses in critical applications is expected to boost the market’s growth. Furthermore, growing infrastructure-related developments and rapid product development related to hoses are also expected to drive the market. However, environmental concern regarding hoses, standards and regulations related to the hoses, and limitations of hoses in various applications is expected to restrain the market growth. Moreover, technical issues related to the hoses and growing concerns about workplace safety are expected to challenge the market growth. But, the growing adoption of hoses in the automobile sector and rising demand for durable hoses are expected to provide lucrative opportunities for market growth in the future.
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Key Opportunity:
- Growing adoption of hoses in automobiles sectors
Automobiles consist of complex internal structures and systems with various components intact. The integration of these systems and components allows the automobile to operate as an efficient machine. In automobiles, hoses play an important role as it is used as an engine cooling system, in a brake oil carrier, as a fuel carrier, in air conditioning, and in other parts of the vehicle. In the design of an engine cooling system, hoses of various types are used for coolant circulation. These hoses are of different material properties as some are designed to withstand the heat of coolant, whereas others can take just cold coolant. This increases the importance of hoses in automobiles, and the growth of the global hoses market is directly affected by the growth of the automobile industry. As the automobile sector in the EV industry is showing enormous growth over the years owing to rising demand for vehicles and electric vehicles, this is expected to provide lucrative opportunities for the market.
Noteworthy Players Operating at Regional and Global Levels:
- Gates Corporation
- PARKER HANNIFIN CORP
- ContiTech AG (Subsidiary of Continental AG)
- Colex International Limited, UK
- Danfoss
- Kanaflex Corporation (Part of Kaizen Capital)
- NORRES (Part of Triton)
- Kurt
- Titeflex (A Subsidiary of Smiths Group Plc)
- Robert Bosch Tool Corporation
- Salem-Republic Rubber Company
- ALFA GOMMA Spa
- com
- Pacific Echo
- Polyhose
- Dunlop Hiflex AB
- Terraflex
- Goodall
- HBD Thermoid
- TRICOFLEX SAS
- Kingdaflex Hose
- Trelleborg Group
- Semperit AG Holding
- Flexhaust Inc.
- Transfer Oil S.p.A.
- PIRTEK
- Copely Developments Ltd
- Manuli Hydraulics
- KURIYAMA OF AMERICA, INC
Recent Development
- In July 2021, NORRES Schlauchtechnik GmbH, a manufacturer, developer, and distributor of flexible hose system solutions, acquired Baggerman Group (“Baggerman”), a manufacturer and distributor of industrial hoses, couplings, and accessories. This acquisition has helped the company to increase its presence.
- In September 2020, KURIYAMA OF AMERICA company developed a new product called Tigerflex Tiger Aquaâ” ¢ Suction and Discharge Hose. This new addition of a product has not only improved the product portfolio of the company but also helped to boost the overall sales.
Global Hoses Market Segmentations:
Media
- Hydraulic
- Steam Hoses
- Air and Gas Hoses
- Material Handling Hoses
- Food Hoses
- Others
Material
- Plastic/polymers Hoses
- Rubber Hoses
- Metal Hoses
- Composite Hoses
- Silicon Hoses
- Others
End User
- Industrial
- Commercial
- Residential
- Automotive
Sales Channel
- Direct
- Indirect
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