Global Hose Market Size, Trends & Analysis - Forecasts To 2026 By Material (Natural Rubber, Nitrile Rubber, Polyurethane, Silicone, PVC, Others), By Type (Low Pressure Hoses, Medium Pressure Hoses, High Pressure Hoses), By Media Type (Hot Water and Steam, Air and Gas, Water, Power, Oil), By Industry (Water & Wastewater, Food & Beverages, Infrastructure, Pharmaceuticals, Automotive, Chemicals, Mining, Oil & Gas, Agriculture, Others), By Region (North America, Europe, Asia Pacific, MEA, CSA), Vendor Landscape, End User Landscape and Company Market Share Analysis & Competitor Analysis
Global Hose Market Insights
The global hose market is expected to generate revenue amounting to USD 10.21 billion in 2020, and is projected to reach to USD 18.03 billion by 2026, growing at a CAGR of 9.94% over the forecast period. Increasing demand for industrial hoses for critical applications in several industries, along with growing infrastructure-related developments, and rising demand for PVC material are some of the major factors expected to propel the market growth during the forecast period. The hoses are used in various industries to avoid fatal accidents, and ensure smooth material handling in extreme environmental/operational conditions.
Increasing modernization of agriculture process is driving the market for hoses. Rapid urbanization and industrialization across various regions including North America, Europe, Asia Pacific, and Central & South America is further projected to propel the market growth of hose. The increasing number of infrastructure-related projects and increasing FDI investments in the developing nations is also expected to propel the market growth for hoses during the forecast period. Improvements in oil & gas and chemical industries is also driving the market growth. However, product failures and recalls, and shortage of technical expertise of industrial hoses, are likely to hamper the market growth over the coming years.
Hose Market Size: By Segmentation
The global hose market is segmented on the basis of material type into natural rubber, nitrile rubber, PVC, silicone, and polyurethane among others. The rubber segment is expected to hold the largest market share in the global hose market during the forecast period. Rubber is widely used for manufacturing hoses as rubber possesses properties of handling high pressure and flexibility. The rubber hoses offer various properties such as oil or fluid resistance, high resistance to aromatics, temperature resistance, fatigue resistance and ozone resistance among others. The PVC segment is expected to grow at a high CAGR during the forecast period. Poly-vinyl Chloride (PVC) is possibly the most versatile product for the chemical industry. Growing demand from pharmaceutical, and food & beverage industries is driving the market for PVC hoses.
On the basis of industry, the global hose market is segmented into infrastructure, oil & gas, pharmaceuticals, food & beverages, water & wastewater, chemicals, mining, and agriculture among others. The chemical segment is expected to hold the largest market share during the forecast period. Growing adoption of hoses in chemical industry for chemical processing, transfer, and loading/unloading of liquid chemicals among others is driving the market growth. The automotive sector is expected to hold the significant market share during the forecast period. Increasing sales of vehicles due to high disposable income and purchasing power of the individuals is propelling the market growth for automotive segment. Hoses are used to improve engine performance and enhance fuel efficiency in terms of power and output in the automotive industry. Growing investments in R&D, innovations in electric vehicles (EVs), and the emergence of autonomous vehicles are driving the market growth.
On the basis of media type the market is segmented into water, oil, hot water and steam, and air and gas, among others. The oil segment is expected to hold the largest market share in the global hose market during the forecast period. The growing oil & gas industries in Middle East & Africa region is driving the market growth. Hoses are more essential in oil industry in order to enhance safety and reliability since most of the oil products are inflammable.
Hose Market Size: By Region
On the basis of region, the global hose market is segmented into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa. The Asia Pacific region is expected to dominate the market and is also estimated to expand at a rapid pace during the forecast period. The expanding manufacturing sector and FDI in the region are driving the market growth for hose. The rapid urbanization and industrialization in developing nations such as India, China, Japan, and South Korea among others is driving the market growth as well. The growing consumption of oil along with the growing automotive industry in the region is driving the market growth.
Hose Market Share & Competitor Analysis
Some of the key players operating in the hose market include: Eaton Corporation PLC, Continental AG, Transfer Oil S.p.A., Kurt Manufacturing, NORRES, Kuriyama of America, Inc., Flexaust Inc., Parker-Hannifin Corporation, Ryco Hydraulics, Titeflex, Trelleborg Group, Dixon Valve & Coupling Company LLC, Salem-Republic Rubber Company, PIRTEK, Colex International, Gates Industrial Corporation PLC, and Titan Fittings, among others.
Please note: This is not an exhaustive list of companies profiled in the report.
In April 2020, Continental AG developed medical hoses needed in Bergamo and the Lombardy region’s medical sector at its Italian site in Daverio, Italy. PVC hose is suitable for the transport of air, oxygen, nitrous oxide, helium, and carbon dioxide.
In February 2020, NORRES GmbH acquired the Swedish hose distributor Jarl Elmgren AB (“Jarl Elmgren”). This acquisition is in line with NORRES' internationalization strategy and represents a significant strengthening of the company's market position in Scandinavia.
In January 2020, Ryco Hydraulics opened a new office and warehouse facility and shifted the company’s headquarters at Derrimut, Victoria, Australia.
Hose Market Size: By Material
Hose Market Size: By Type
Hose Market Size: By Media Type
Hose Market Size: By Industry
Hose Market Size: By Region
The global Hose Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Hose Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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