Industrial Hose Market Report 2020: Automotive, Oil & Gas, Chemicals, Pharmaceuticals, Infrastructure, Food & Beverages, Agriculture - Global Forecast to 2025 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Industrial Hose Market with COVID-19 Impact Analysis - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The Global Industrial Hose Market is Expected to Grow from USD 10.2 Billion in 2020 to USD 16.4 Billion by 2025; it is Expected to Grow at a CAGR of 9.9% during 2020-2025.

Key factors fueling the growth of this market include the increasing demand for robust industrial hoses for critical applications in several industries, growing infrastructure-related developments, and rising demand for PVC material.

The demand for robust industrial hoses is increasing across the world to avoid fatal accidents, ensure smooth material handling even in extreme environmental/operational conditions, and so on various industries such as pharmaceuticals, agriculture, chemicals, and oil & gas create a strong demand for industrial hoses for efficient industrial operations in the midst of COVID-19 are the major factors for the industrial hose market growth.

Air and gas media type to witness the highest CAGR in the industrial hose market during the forecast period.

The market for air and gas media is expected to grow at the highest CAGR within the global industrial hose market during the forecast period, owing to the high demand for air and gas hoses to transfer compressed air and gases from one point to another in industrial, medical, construction, and agricultural applications. Gas hoses are used for a variety of applications, such as gas and petroleum solutions transfer, gas cylinder filling, refilling, or emptying, loading/unloading, and fuel refilling.

Oil & gas industry to witness the highest CAGR in the industrial hose market during 2020-2025.

The market for the oil & gas industry is expected to grow with the highest CAGR during the forecast period. The demand for oil and gas will grow tremendously in the coming years, which is likely to increase even further to fuel the development of Western economies during the forecast period.

As technologies implemented in the production and transportation processes are advancing, equipment performance requirements are becoming more and more stringent to support increasing operational efficiencies. Hence, the implementation of hoses is essential in pipelines and other several processes to regulate the flow of liquid, gases, or any fluidized solid, which will propel the industrial hose market growth in the coming years.

APAC is expected to hold the largest share of industrial hose market by 2025.

APAC accounted for the largest share of the industrial hose market by 2025. The most common applications of oil & gas are fuel for automobiles, fuel for industrial machinery, and fuel for domestic operations. In the oil & gas industry safety, environmental protection, and operating efficiency have prime importance for which robust hoses are used. Hence, increasing adoption of industrial hoses for different applications is expected to provide growth opportunities to the industrial hose market in the future.

Market Dynamics

Drivers

• Increasing Demand for Robust Industrial Hoses for Critical Applications in Several Industries
• Growing Infrastructure-Related Developments
• Rising Demand for Pvc Material

Restraints

• Shortage of Technical Expertise of Industrial Hoses

Opportunities

• Growing Demand for Automobiles Worldwide
• Increasing Modernization of Agriculture Processes

Challenges

• Long Lead-Time
• Lack of Product Differentiation
• Short-Term Impact of Covid-19 on Industrial Applications

Companies Mentioned

• Alfagomma S.P.A.
• Colex International Ltd.
• Continental AG
• Eaton Corporation Plc
• Flexaust Inc.
• Gates Industrial Corporation Plc
• Kanaflex Corporation Co., Ltd.
• Kuriyama of America, Inc.
• Kurt Manufacturing
• Norres Schlauchtechnik Gmbh
• Pacific Echo, Inc.
• Parker-Hannifin Corporation
• Piranha Hose Products, Inc.
• Polyhose
• Ryco Hydraulics
• Salem-Republic Rubber Company
• Semperit (Semperflex)
• Titeflex Corporation
• Transfer Oil S.P.A.
• Trelleborg Corporation

For more information about this report visit https://www.researchandmarkets.com/r/vzub0u