The global hydraulic hose market size was estimated to be US$ 9.75 billion in 2021 and is expected to grow at a CAGR of 5.4% between 2023 to 2032.
Rubber or thermoplastic material is used to create a hydraulic hose. It transports the fluid that hydraulic equipment uses to generate force. The hose has three layers: an inner layer, a reinforcing layer, and an exterior protective layer to shield it from weather, abrasion, and oil or chemicals.
Many industrial, agricultural, and construction industries use hydraulic hoses. The growth in green building development is a key market driver for hydraulic hoses. As these structures are made expressly to use less energy, an increase in demand for them is anticipated to have a favourable effect on the market.
The hydraulic rubber hose market is driven by increased industrial, construction, and agricultural demand. A higher need for food has prompted the farm sector to increase crop productivity, raising the demand for hydraulic rubber hoses. A hydraulic rubber hose is used in construction to move materials like water, fuel, and air. Hydraulic rubber hoses are used in the chemical, pulp & paper, and material handling industries to transmit fluids.
Drivers of the market growth:
Throughout the projection period, the growth of the worldwide hydraulic hoses market is anticipated to be driven by an increase in demand from various end-use industries, including mining and construction. The need for the hydraulic hose is predicted to increase due to the increased use of heavy-duty construction equipment, trucks, and other vehicles that need higher flexibility, high power, and more substantial bends. The increase in the use of hydraulic hose in the agriculture sector for machinery, including harvesters, tractors, transport vehicles, and other machinery, is a significant element fuelling market expansion for hydraulic hose.
The market for hydraulic hoses is projected to have development opportunities as the evergreen agriculture sector expands and replaces manual agricultural procedures with mechanical ones.
The rapid expansion of the agriculture sector in nations like the US, China, India, and Australia is anticipated to fuel the growth of the hydraulic hose market throughout the projected year. The growth of the global hydraulic hoses market is anticipated to be aided by ongoing technological advancements, an increase in manufacturers' R&D efforts, and the penetration of the leading hydraulic hose producers in emerging economies.
COVID- 19 impact:
The world economy, including all industries, has suffered dramatically from COVID-19. The global supply chain’s disruption is primarily to blame for this. Global economies have declined due to a sharp reduction in product demand. Additionally, due to the pandemic’s shortage of raw materials, manufacturing in the hydraulic hose industry has been constrained. The leading causes of the fall in hydraulic hose manufacturing during COVID-19 is the decrease in exports and supply chain disruptions.
Regional Trends of the Hydraulic Hose Market
Throughout the projection period, North America is anticipated to hold its position as the leading market for hydraulic hoses. The area has a well-established manufacturing base for providers of hydraulic machinery and parts in the US and Canada. For local manufacturers, this makes it simple to obtain trained workers and raw supplies. Additionally, the substantial presence of major companies in North America contributes to the region's rapid expansion of the hydraulic hose market.
More than 30% of the demand for hydraulic hoses comes from the United States, which dominates the global market. Additionally, it has North America's biggest market. Expanding the region's manufacturing and construction sectors is fuelling demand for hydraulic hoses in North America. The fastest-growing market in North America is anticipated to be Canada. The government's increased investment in infrastructure is expected to cause the country's construction industry to expand quickly. Excavators, loaders, and other construction machinery that rely on hydraulic hose markets will increase demand.
Due to low tariff rates, Europe imports a lot of agricultural equipment from the United States, likely increasing demand for hydraulic fittings in Europe. The need for hydraulic fitting systems is anticipated to increase significantly in the Middle East and Africa due to the fast uptake of energy-saving techniques for machinery used in heavy construction, agriculture, and the military. The agricultural sector's rapid growth in developing nations like China and India is boosting the hydraulic fittings market all over the region.
Key Players
Some of the primary vital players are Alfagomma, Bridgestone, Continental, Eaton, Gagong, Gates Corporation, Hansa-Flex, JingBo, Jintong, Kurt, Luohe YiBo, Manuli Hydraulics, Ouya Hose, Parker Hannifin, Ryco, Semperit, Sumitomo Riko, The Yokohama Rubber, Yulong, and Yuelongand Hengy.
Hydraulic Hose Market Segmentation
By Product
- Reinforced
- Corrugated
- Coiled
- Others
By Application
- Agriculture
- Construction
- Material Handling
- Others
By Type
- Spiral Wire Hydraulic Hose
- Wire Braided Hydraulic Hose
- Others
By Region
- North America
- United States
- Canada
- Rest of North America
- Europe
- Germany
- United Kingdom
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- India
- China
- Australia
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- South America
- Brazil
- Rest of South America
