Hydraulic Rubber Hose Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2022
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<strong>Hydraulic</strong> <strong>Rubber</strong> <strong>Hose</strong> <strong>Market</strong> - <strong>Global</strong> <strong>Industry</strong> <strong>Analysis</strong>, <strong>Size</strong>, <strong>Share</strong>,<br />
<strong>Growth</strong>, <strong>Trends</strong> <strong>and</strong> <strong>Forecast</strong> <strong>2014</strong> - <strong>2022</strong><br />
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<strong>Global</strong> <strong>Hydraulic</strong> <strong>Rubber</strong> <strong>Hose</strong> <strong>Market</strong>: Snapshot<br />
The dem<strong>and</strong> for hydraulic rubber hoses is increasing considerably in the industries of construction, agriculture,<br />
<strong>and</strong> automotive. These industries are quickly realizing the advantages that the flexibility of hydraulic rubber hose<br />
can provide over conventional pipes made of metal or plastics. Additional advantages such as lower weight in low<br />
<strong>and</strong> medium-pressure applications, better sound absorption, <strong>and</strong> rust resistance put hydraulic rubber hose ahead<br />
of all other pipes for most users. The advantages of hydraulic rubber hoses also put it in favor of industries that<br />
are facing the crunch of staggering production dem<strong>and</strong>s. The need to increase operational efficiency has driven<br />
most industries to look every place they can to increase efficiency, including the use of hydraulic rubber hoses.<br />
There is, however, a moderate level of competition that hydraulic rubber hose manufacturers face from thermoplastic<br />
pipes. The latter can be much more efficient <strong>and</strong> reliable in high-pressure industrial applications <strong>and</strong> takes<br />
up a significant amount of dem<strong>and</strong> in that area.<br />
The resultant effect on the global market for hydraulic rubber hoses is a CAGR of 4.2% from <strong>2014</strong> to <strong>2022</strong>. This<br />
market is expected to be valued at US$779.8 mn by the end of 2016 <strong>and</strong> US$1 bn by <strong>2022</strong>.<br />
Asia Pacific Dem<strong>and</strong> for <strong>Hydraulic</strong> <strong>Rubber</strong> <strong>Hose</strong>s to Remain Dominant<br />
In terms of geography, the dem<strong>and</strong> for hydraulic rubber hoses is currently led by Asia Pacific. It is expected to<br />
retain its lead till <strong>2022</strong>. Factors attributing to the high dem<strong>and</strong> for hydraulic rubber hose in Asia Pacific are being<br />
a majorly agrarian region <strong>and</strong> the rapid rates of industrialization that are boosting the rate of construction <strong>and</strong><br />
automobile production. This applies specially to India <strong>and</strong> China where the rate of construction is particularly<br />
high. Government focus on farm irrigation <strong>and</strong> stronger water conservation tactics are also expected to up the<br />
dem<strong>and</strong> for hydraulic rubber hoses in Asia Pacific in the near future.<br />
The dem<strong>and</strong> for hydraulic rubber hoses in North America witnessed a steep fall in the recent past owing to the<br />
recession <strong>and</strong> consequent reduction in industrial development. The region has since then shown a slow <strong>and</strong> steady<br />
improvement in the dem<strong>and</strong> for hydraulic rubber hoses. Europe has seen a similar fall in dem<strong>and</strong> after the 2012<br />
debt crisis, but has shown a steady increase in dem<strong>and</strong> due to a growing dem<strong>and</strong> for agricultural efficiency.
Dem<strong>and</strong> for <strong>Hydraulic</strong> <strong>Rubber</strong> <strong>Hose</strong>s in Construction <strong>and</strong> Agriculture Industries on the Rise<br />
The dem<strong>and</strong> for hydraulic rubber hoses has been so far dominated by the construction industry. By the end of<br />
<strong>2022</strong>, the construction industry is expected to provide 26% of the overall dem<strong>and</strong> for hydraulic rubber hoses. This<br />
is attributed to the enormous dem<strong>and</strong> for industrial <strong>and</strong> residential construction projects across the world.<br />
There is also a high scope of growth of hydraulic rubber hoses in improving agricultural process efficiency <strong>and</strong><br />
the dem<strong>and</strong> for agricultural machinery. The drastic increase in food consumption has driven the global agriculture<br />
industry to improve crop yield, <strong>and</strong> one of the ways to do it is to implement flexible hydraulic rubber hoses.<br />
The key manufacturers of hydraulic rubber hoses in the world include Polyhose India Pvt. Ltd., RYCO <strong>Hydraulic</strong>s,<br />
HIC International Co., Gates Corporation, Manuli <strong>Rubber</strong> Industries, Piranha <strong>Hose</strong> Products, Inc., Transfer Oil<br />
S.p.A., Parker Hannifin Corp., Kurt Manufacturing, Eaton (Synflex), <strong>and</strong> Koman <strong>Hydraulic</strong> Co., Ltd.<br />
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