A hose is a flexible hollow tube designed to carry fluids from one location to another. The shape of a hose is usually cylindrical having a circular cross section. Hose design is based on a combination of application and performance. Common factors considered for hose design are size, pressure rating, weight, length, and chemical compatibility. Applications mostly use nylon, polyurethane, polyethylene, PVC, or synthetic or natural rubbers, based on the environment and pressure rating needed. Other hose materials include Teflon, stainless steel and other metals. Industrial hoses refer to pipes and tubes that are used for supplying chemicals, water, and other fluid substances.
COVID-19 scenario analysis:
- COVID-19 pandemic has shut-down the production of various products in the global industrial hose industry, mainly owing to the prolonged lockdown in major global countries. This has hampered the growth of global industrial hose market significantly from last few months, as is likely to continue during 2020.
- COVID-19 has already affected the sales of equipment and machinery in the first quarter of 2020 and is likely to cause a negative impact on the market growth throughout the year.
- The major demand for equipment and machinery was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, the UK, and China, which is badly affected by the spread of coronavirus, thereby halting the demand for equipment and machinery.
- Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Equipment and machinery companies can afford a full lockdown only for a few months, after which the players would have to modify their investment plans.
- Equipment and machinery manufacturers must focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19 infection cases start to decrease.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
The industrial hose market is driven by increasing demand for robust industrial hoses in critical applications, and growing infrastructure-related developments. Growing demand for automobiles worldwide and increasing modernization of agriculture processes are expected to provide huge growth opportunities to players in the market. Hoses that are used for carrying different chemicals are very important for the growth of the global industrial hose market. Hoses made of polyurethane material are very popular as they can be designed to be either rigid or flexible and are used for various end-user applications. Hoses used for carrying chemical media should possess high chemical and abrasion resistance, and the capability to withstand extreme pressures and temperatures. The automotive industry is also very important target market for the global industrial hose market. The oil and gas sector is also a very important target market for industrial hose industry. The need to water fields in the agricultural sector has played a vital role in the growth of the global industrial hose market. The most important restraining factor for the global industrial hoses market is the high concerns related to operations in which industrial hoses are employed making it difficult for interchangeability of hoses for different operations. The opportunity for growth of global industrial hose market comes from the global automotive sector.
The global industrial hose market trends are as follows:
In the automotive industry, wires, hoses, and metal pipes are used, each with a specific function to fulfill. Rising usage of hoses in automobile engines to carry fluids coupled with the increased need for optimal engine performance and enhanced fuel efficiency is driving the segment value. Moreover, rising sales of passenger cars due to high disposable income helps to gain momentum for the segment growth. Increasing sales of passenger cars due to high disposable income and purchasing power of the individuals helps to drive the demand for the automotive industry. Also, turbochargers are rapidly gaining demand and popularity due to their benefits, such as improved engine performance and enhanced fuel efficiency in terms of power and output among others. Hence, the automotive industry is creating a major demand for the market during the forecast period.
Hoses that are used in the chemical industry are used for suction and discharge of chemicals as they are designed for optimal performance during the pressure flow. These hoses require high chemical and abrasion resistivity for safe transfer of the chemical media. Polyurethane is a plastic material which can be tailored to be either rigid or flexible and is the material of choice for a broad range of end-user applications. They have exceptional resistance to gasoline, oil, kerosene, and other petroleum-based products, making them suitable for use in industries, such as oil & gas, chemicals, mining, food & beverages, and agriculture. Hoses that are used for carrying different chemicals are very important for the growth of the global industrial hose market.
Key benefits of the report:
- This study presents the analytical depiction of the global industrial hose industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global industrial hose market share.
- The current market is quantitatively analyzed to highlight the global industrial hose market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global industrial hose market analysis based on competitive intensity and how the competition will take shape in coming years.
Industrial Hose Market Report Highlights
By Industry Verticals
Key Market Players
Kurt Manufacturing, Piranha Hose Products, Gates, RYCO Hydraulics, Colex International., Eaton, Parker Hannifin, Transfer Oil S.p.A., NORRES