The ‘North America Industrial Hose Market Trend, Share, Size, Growth, Analysis, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the North America industrial hose market, assessing the market on the basis of its segments like material, media, industry, and country.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
North America Industrial Hose Market Share, Size, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 3.6%
The industrial hose is a key element that improves fuel economy and strengthens engine performance. The increasing sales of cars and automotive parts in North America are driving the industrial hose industry. The increasing demand for electric vehicles in the area is predicted to help the North America industrial hose market. Additionally, the growing use of industrial hoses in the mining, oil and gas, chemical, and pharmaceutical industries is anticipated to boost market growth during the forecast period.
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The region’s agriculture sector is expected to rapidly modernise in order to reduce labor costs and boost efficiency, which will further fuel market expansion. Industrial hoses that have been improved to transport several sorts of media, including gases, chemicals, oil, semi-solids, and liquids, are in high demand. The need for industrial hoses used for media suction and discharge is growing across all industry sectors. High chemical and abrasion resistance, along with the capacity to handle pressure and temperature extremes, are important features of these hoses, thus propelling the North America industrial hose market growth.
Due to the relative fragmentation in the market and the ability of manufacturers to improve their market share through technical advancements, prominent suppliers have the chance expand their share by investing in research and development efforts. In the coming years, this will likely increase demand for industrial hoses.
North America Industrial Hose Industry Definition and Major Segments
An industrial hose can be formed of PVC, rubber, silicone, or other materials that are corrosion-resistant to chemical compounds and can tolerate high or low pressures or temperatures. Industrial hoses can transport items as basic as air and water or as complex as dangerous chemicals, depending on the necessity, at slow or fast transfer rates.
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Based on material, the market is divided into:
• Rubber
• Polyvinyl Chloride (PVC)
• Silicone
• Polyurethane
• Others
On the basis of media, the market is segmented into:
• Air and Gas
• Chemical
• Oil
• Water and Steam
• Food and Beverage
• Others
Based on industry, the market is divided into:
• Agriculture
• Automotive
• Oil and Gas
• Food and Beverages
• Chemical and Pharmaceuticals
• Water and Wastewater
• Construction and Mining
• Others
On the basis of country, the market is segmented into:
• United States of America
• Canada
North America Industrial Hose Market Trends
The constantly expanding infrastructure-related activities are the key trends driving the North America industrial hose market. There is an increase in demand for hoses as a result of the growing number of infrastructure-related projects that are encouraging additional private infrastructure investments.
The North America industrial hose market is anticipated to be led by the oil and gas application segment. In the upcoming years, market growth is anticipated to be supported by the oil and gas sector’s strong presence, particularly in the United States. During the forecast period, it is also expected that the construction and mining segment will have a significant market share. This can be attributed to the increased construction activities in the region, owing to large investors, population growth, and economic growth.
Additionally, technological developments in the American chemical and pharmaceutical industries will likely increase the demand for industrial hoses, which will help in the North America industrial hose market expansion. According to estimates, the automotive industry is expected to hold a major portion of the market due to the growing demand for cars. Automotive hoses are an essential part of cars and help them cool down rapidly by removing excess heat.
Key Market Players
The major players in the North America industrial hose market report include:
- Eaton Corporation
- Parker Hannifin Corporation
- Gates Industrial Corporation
- Kurt Manufacturing Company
- HBD Industries Inc.
- NovaFlex Group
- Kuriyama of America, Inc.
- Copper State Rubber, Inc
- Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments, mergers, and acquisitions, among other latest developments of these market players.
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