The global hydraulic rubber hose market size was worth around USD 1.2 Billion in 2022 and is predicted to grow to around USD 1.8 Billion by 2030 with a compound annual growth rate (CAGR) of roughly 5.2% between 2023 and 2030.
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➤ Market growth is driven by the increasing demand from a variety of end-use industries.
The construction industry is anticipated to significantly increase its demand for hydraulic rubber hoses, as their equipment requires maximum abrasion resistance and high operating pressure. Bulldozers, wheel loaders, excavators, and backhoes are among the construction apparatus that are incorporating hydraulic hoses. The global hydraulic rubber hose market is experiencing growth due to the increasing demand for energy-efficient green buildings, which are designed to consume the least amount of energy feasible. Moreover, the agricultural industry has been able to increase crop production as a result of the increased demand for food, which has in turn increased the demand for hydraulic rubber hoses.
➤ The market’s expansion is hindered by the competition from thermoplastic hoses.
Hydraulic rubber hoses are frequently employed in industrial applications that necessitate high pressure. The thermoplastic version of this hose, which is acquiring popularity due to its superior qualities, is directly competing with it in the market. Rubber hoses have several significant disadvantages, including their high electrical conductivity, which can be hazardous in certain applications, their tendency to lose their shape in oil, and their reduced resistance to certain chemicals and fluids. For example, they are heavier than plastic hoses.
➤ An appealing opportunity is presented by the expanding automotive sector.
The hydraulic rubber hose industry market is expected to experience substantial growth during the forecast period as a result of the expanding automotive industry. For example, the Society of Indian Automotive Manufacturers reports that the automotive industry manufactured 22,933,230 vehicles between April 2020 and March 2021, which encompassed passenger automobiles, commercial trucks, three-wheelers, two-wheelers, and quadricycles. Furthermore, the market will continue to expand due to the consumer demand for advanced automotive technologies during the anticipated timeframe.
➤ The absence of technical proficiency presents a significant obstacle.
Qualified professionals are necessary for the production of hydraulic rubber hoses. Currently, there is a shortage of professionals who possess the requisite skills, particularly in developing countries. Technical expertise is required to ensure the meticulous design of these hoses. This poses a substantial impediment to the industry’s expansion.
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The Global Hydraulic Rubber Hose Market is segmented based on product, application and region
Global Hydraulic Rubber Hose Market: Product Segment Analysis
● Standard Hydraulic Rubber Hose
● Mining Hose
● Steam Hose
● Air Hose
● Spiral Hose
● Others
Global Hydraulic Rubber Hose Market: Application Segment Analysis
● Agriculture Machinery
● Lubrication Lines
● Construction Machinery
● Industrial and Material Handling Equipment
● Power and Telephony Mobile Equipment
● Others
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The global Hydraulic Rubber Hose market profiles key players such as:
● Polyhose
● THE YOKOHAMA RUBBER CO. LTD.
● Tubes International Sp. z o.o.
● PARKER HANNIFIN CORP
● Titeflex, Bridgestone Engineered Products of Asia Sdn Bhd.
● Gates Corporation
● Hydravia
● Zycon Global Services LLC
● Eaton
● Flexitallic
● Singer Industrial
● LUCOHOSE CO. LTD
● Exitflex
???? Recent Developments:
• Gates introduced the MXG 4K rubber hydraulic line in India in December 2019. The product’s construction is characterized by its extreme flexibility, lightness, and compactness, and it is applicable to both the automotive and industrial sectors. Gates’ expansion in India will be facilitated by this introduction.
• Verstran, a high-pressure hose, was incorporated into the present product line of Yokohama Rubber Co., Ltd. in April 2019. The innovative product has the potential to be implemented in offshore oil rigs, construction projects, and industrial machinery. This introduction will assist the organization in expanding its product line.
➤ The market is anticipated to be dominated by the Asia Pacific region during the projected period.
The global hydraulic rubber hose market is anticipated to be dominated by the Asia Pacific region during the forecast period. The rapid industrialization and expanding construction industry, particularly in countries such as China and India, are the primary factors contributing to the region’s growth. For instance, the India Brand Equity Foundation (IBEF) states that India intends to allocate USD 1.4 trillion toward infrastructure expenditures over the next five years as part of its “National Infrastructure Pipeline.” In FY21, FDI inflows comprised USD 81.72 billion, with infrastructure-related activities accounting for 13% of the total.
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