The global market for hydraulic hose is projected to have considerable CAGR  during the forecast period.  The major factors that propels the hydraulic hose market include growing demand of hydraulic hose in various industries such as construction & mining, agriculture, and growing construction activities across the globe. The hydraulic hoses provide various benefits to these industries such as cost-effectiveness, better able to absorb shock and vibration, easier to route and install, dampens pressure surges  and others. The significant application of hydraulic hoses in hydraulic machines can create strong low speed torque and manage speed and movement of machines with extreme accuracy that further encourages the demand of hydraulic hoses in various end-use industries. Moreover the rise in agriculture activities coupled advancement in the industry in emerging economies such as India, China, and others further provides significant growth opportunities to the hydraulic hose market

 Segmental Outlook  

The global hydraulic hose market is segmented based on product type and industry. Based on the material type, the market is further classified into articulated, reinforced, coiled, and other(corrugated). The coiled segment is projected to grow at a significant CAGR during the forecast period.  On the basis of vertical the market is further segregated into agriculture, construction & mining, manufacturing, and others. The construction & mining industry have significant share in the market owing to significant development in the industry coupled with growing mining & construction activity across the globe

 Global hydraulic hose Market Share by Product Type, 2019(%)

Global hydraulic hose market to be driven by coiled segment

Among product type, the coiled segment held a considerable growth in the market owing to the significant deployment of coiled hydraulic hose in the industry. Coiled hoses are semi-rigid hoses designed for expansion and easy storing. Due to the hose is coiled, it can stretch in such a way that does not put unnecessary pressure on the hose materials. The growing demand of coiled based hose in various industries such as agriculture, construction and others further contribute in the segmental growth. Moreover, coiled hose are widely adopted owing to various properties such as chemical and corrosion resistance, good abrasion and wear resistance, visual contact with the flow, and high flow characteristics. Furthermore growing construction & mining  activities further provide significant opportunity to the segmental market growth.

Regional Outlook 

Geographically, the global hydraulic hose market is further classified into North America, Europe, Asia-Pacific and the Rest of the World. North America is projected to hold significant growth in the global hydraulic hose market. The market is mainly driven due to growing industrialization and significant adoption of hydraulic hose in various sectors in construction & mining, agriculture, and others. Moreover, the rising demand of reinforced hydraulic hoses further provide significant opportunity to the market in the region .

Global hydraulic hose Market Growth, by Region 2020-2026

Asia-Pacific to hold a considerable share in the global hydraulic hose market

Geographically, Asia-Pacific is projected to hold a significant market share in the global hydraulic hose market. The market is mainly driven by the increasing application of hydraulic hose in agriculture and Construction & mining industry in the region, growing construction & mining activities in the region. The major countries which will have a significant market share during the forecast period are India, China, and Japan. Apart from those countries, South Korea, Australia, Thailand, and Indonesia projected to contribute significantly in the market growth. Te government support for the construction & mining industry further create significant opportunity to the market. For instance, in 2019 Government of India introduced a National Mineral Policy that aimed that the introduction of transparent, better regulation and enforcement, including balanced social and economic growth in the mining sector of the country. Additionally, this policy comprises a long term export import strategy for the mineral industry, with an aim to offers stability to the industry and a subsidiary incentive related to the investment in the activities comprising large scale commercial mining.  

 Market Players Outlook

The key players in the hydraulic hose market contributing significantly by providing different material types of products and increasing their geographical presence across the globe. The key players of the market include Eaton Corporation plc, Gates hydraulic Corporation plc, Parker-Hannifin Corp., Continental AG, Ryco Hydraulics Pty Ltd., and others. These market players adopt various strategies such as product launch, partnerships, collaborations, mergers, and acquisitions to sustain a strong position in the market. 

The Report Covers

• Market value data analysis of 2019 and forecast to 2026.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global hydraulic hose market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.