According to a new market report published by Transparency Market Research “Hydraulic Rubber Hose Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2022“, the market for hydraulic rubber hoses globally is forecast to reach $1,002 million by 2022. The key factor driving the growth of global hydraulic rubber hose market is the increasing demand from construction, agriculture and industrial sectors.
The global hydraulic rubber hose market was valued at $697.8 million in 2013, and the market is anticipated to grow at a CAGR of 4.2 percent during the period from 2014 to 2022 to reach an estimated value of $1,002 million by 2022. Currently, hydraulic rubber hoses are witnessing high demand from construction and industrial sectors. The availability of hoses that can withstand challenging environment at the construction sites is the major factor responsible for high demand for hydraulic rubber hoses in this sector. Moreover, industrial sector demands reliable hoses that can ensure the safety of workers by preventing hose bursts and leaks.
The market has also been witnessing demand from replacement of old hoses since they have a limited lifespan. Based on geographic regions, the hydraulic rubber hose market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. In terms of regional adoption, Asia Pacific held the highest market share in the global hydraulic rubber hose market in 2013. This dominance is attributed to the high growth in construction activities that has led to increase in the number of construction projects. The hydraulic rubber hose market is highly fragmented and no player has strong hold on the global market. Key manufacturers of hydraulic rubber hoses continuously strive to bring innovative products that meet the varying needs of individual industries. These prominent players are also focusing on strengthening their distribution network and thereby increase their global presence. Some of the key players in the global hydraulic rubber hose market include Polyhose India Pvt. Ltd., RYCO Hydraulics, Gates Corporation, HIC International Co., Manuli Rubber Industries, Piranha Hose Products, Inc., Transfer Oil S.p.A., Parker Hannifin Corp., Kurt Manufacturing, Eaton (Synflex), Koman Hydraulic Co., Ltd. amon.
Information on the report can be found here.