Industrial Hose Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Industrial Hose Market By Material (Rubber, Polyurethane, PVC, Silicone, Others), By Pressure (Low-Pressure Industrial Hoses, Medium Pressure Industrial Hoses, High-Pressure Industrial Hoses), By Application (Building and Construction, Industrial Manufacturing, Pharmaceuticals, Automotive, Oil & Gas, Chemicals, Agriculture, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Industrial Hose Market Size

Global Industrial Hose Market reached USD 13.2 billion in 2022 and is expected to reach USD 22.1 billion by 2030, growing with a CAGR of 6.1% during the forecast period 2024-2031. Owing to the diverse offerings, industrial hoses are widely employed in a variety of industry verticals.

Hoses operate in harsh environments, resulting in abrasion, rupture, and premature failure. Working in these settings requires careful consideration of the type of hose required for the work. Hydraulic hoses, which can withstand millions of pounds of pressure, are ideal for high-pressure transfer. Hose can be used for a variety of applications, making it a vital component in a variety of industry sectors. During the forecast period 2024-2031, the high-pressure industrial hoses segment is estimated to account for more than 1/4th of the global industrial hoses market. High-pressure industrial hoses are commonly used in the oil and gas industry to move liquids under pressurized conditions from one point to another. 

Industrial Hose Market Summary

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Industrial Hose Market Growth Trends

The Growing Adoption of Market Strategies by Major Players

The industrial hoses market’s major companies frequently spend in research and development to produce innovative goods with enhanced performance, durability and efficiency. Customers demanding creative alternatives can be attracted by innovation, giving businesses a competitive advantage. Companies that offer a diverse selection of hose products for a variety of industries and applications can reach a wider consumer base by targeting different market segments.

NORRES GmbH, a renowned provider of technical Industrial Hoses and flexible hose system solutions, purchased the Swedish hose distributor Jarl Elmgren AB ("Jarl Elmgren") in February 2020. The acquisition is consistent with NORRES' internationalization strategy and strengthens the company's market position in Scandinavia significantly.

The Rising Demand from Automotive Industry

Industrial hoses play an important part in the automotive sector, helping in the effective operation of numerous vehicle systems. It is used to ensure the proper functioning of automotive components and to improve overall performance. It is utilized for fluid transfer, air supply and cooling. In the air intake system, industrial hoses are used to supply fresh air to the engine for combustion. 

The intake hoses are built to endure the high temperatures and pressures of engine air intake. For instance, Yokohama Rubber Co., Ltd., for example, developed a material in 2021 that significantly decreases the weight of automotive air-conditioning hoses. The rubber is predicted to lower the weight of the hoses by 50%.

Fluctuating Price and Stringent Regulations

Industrial hoses must be made of high-quality materials to endure extreme circumstances, which raises production costs. Buyer pricing pressure can reduce profit margins for manufacturers and suppliers. Raw material price fluctuations can have an impact on the overall cost of production. The market's development potential may be hampered by a lack of major innovation in hose technology.

Budget constraints may limit R&D spending, influencing the development of advanced better performing hoses. Stricter environmental standards may necessitate the use of more expensive and environmentally friendly materials, which may affect the cost and availability of hoses. Environmental compliance may involve changes in manufacturing processes, thereby increasing production costs.

Industrial Hose Market Segment Analysis

The global industrial hoses market is segmented based on material, pressure, application and region.

The Diverse Applications of Industrial Hoses in Building and Construction

During the forecast period, building and construction is expected to hold around 1/3rd of the global industrial hoses market. Industrial hoses are essential in the building and construction sector for a variety of applications that involve the transfer of fluids, materials and air. The hoses are developed to handle specific duties effectively and safely, improving and enhancing building operations. 

Hoses are used in material handling to transport materials such as sand, gravel, cement and other aggregates within building sites and between stages of the construction process. Continental A.G., for example, is investing USD 40 million to develop its hydraulic business in North America by building a new, state-of-the-art industrial hydraulic hose manufacturing facility in San Luis Potosi, Mexico.

Industrial Hose Market Geographical Share

The Rising Demand Oil & Gas Sector in Asia-Pacific

Asia-Pacific has witnessed significant growth covering more than 1/3rd of the global industrial hoses market share in 2022. The region utilizes plenty of industrial hoses, especially in the oil and gas industry. The hoses are built to endure the tough and demanding circumstances seen in the oil and gas industry, such as high pressures, intense temperatures and chemical exposure. 

The increasing need for oil and gas in the region is fueling the sector's demand for industrial hoses. For example, in April 2022, the state-owned Oil and Natural Gas Corporation (ONGC) commissioned two projects worth USD 786.4 million to add 7.5 million tonnes of oil production and 1 billion cubic meters of gas produced over the life of the Mumbai High fields, as it speeds up efforts to increase productivity from mature and aging fields.

Industrial Hose Market Manufacturers

The major global players include Eaton Corporation PLC, Continental AG, Transfer Oil S.p.A., United Flexible, Semperit AG Holding, Campbell Fittings Inc, Parker-Hannifin Corporation, Ryco Hydraulics, Polyhouse India Pvt Ltd and Gates Industrial Corporation PLC.

COVID-19 Impact Analysis

Due to closures of plants, transit constraints and raw material shortages, the pandemic caused disruptions in global supply chains. It had an influence on industrial hose production and availability, which could have led to order fulfillment delays. During the pandemic, demand for Industrial Hoses fluctuated across industries like as automotive, manufacturing, construction and agricultural. 

Some industries, such as automotive and aerospace, witnessed decreased demand owing to shutdowns and economic downturns, but others, such as healthcare and agriculture, saw increased demand. With the onset of COVID-19, there was a sudden increase in demand for medical-grade hoses used for ventilators and medical equipment in the healthcare sector. In contrast, demand for industrial hoses in non-essential industries decreased.

Russia- Ukraine War Impact 

Russia's invasion of Ukraine could have a huge influence on hose manufacturing, particularly with carbon black, which is a major material for thermoplastic hoses. Carbon black is created by the reaction of oil or gas and accounts for 40-70% of the elements in black rubber components. Russia is a major exporter of carbon black, exporting over 700,000 tons per year, whereas U.S. imports over 200,000 tons per year. Any fluctuations in the carbon black market could give rubber hose makers and distributors extra troubles.

As the supply chain is becoming increasingly volatile, hydraulic hose manufacturers are being forced to adapt to increased raw material prices. Nobody is immune to the effects of scarcity and price volatility; every business is coping with major raw material price rises owing to a variety of unpredictable circumstances. Freight and distribution costs have also been continuously rising since the start of the COVID-19 epidemic and rising oil prices will add to this pattern.

Key Developments

• In August 2022, Bridgestone Corporation, an international tire and rubber manufacturing business, announced that it will increase hydraulic hose production capacity at Bridgestone NCR Co., Ltd., a Thai subsidiary that manufactures and sells industrial products. Production capacity will begin to expand in the second quarter of 2025 and hydraulic hose production capacity additions are expected to result in an increase of roughly 30% of present capacity globally by the first quarter of 2026.
• In July 2021, Baggerman Group, a producer and distributor of industrial hoses, couplings and accessories, was acquired by NORRES GmbH, a manufacturer, developer and distributor of flexible hose system solutions. The acquisition will help the company extend its global presence as well as its market share.
• In September 2020, Tigerflex Tiger Aquaâ" Suction and Discharge Hose was a new product designed by Kuriyama Of America. The new product addition will not only enhance the company's product portfolio but also help to increase overall sales.

Why Purchase the Report?

• To visualize the global industrial hoses market segmentation based on material, pressure, application and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development. 
• Excel data sheet with numerous data points of industrial hoses market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global industrial hoses market report would provide approximately 61 tables, 64 figures and 202 Pages.

Target Audience 2024

•  Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies