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Global Hydraulic Hose Market to Reach USD 2.56 Billion by 2026, Aided by the Increasing Construction Industry

According to a new report by EMR titled, ‘Global Hydraulic Hose Market Report and Forecast 2021-2026’, the global hydraulic hose market reached a value of USD 1.98 billion in 2020. The industry is further expected to grow at a CAGR of 4.35% in the forecast period of 2021-2026 to reach a value of around USD 2.56 billion by 2026.

The global hydraulic hose industry is projected to benefit from the rise of the evergreen agriculture industry, which is replacing conventional agricultural methods with mechanical ones. Hydraulic hoses are commonly utilised in agriculture, mostly for irrigation equipment. The need for hydraulic hose in the agriculture industry is likely to rise in the near future due to the upgrading of agricultural equipment. Hydraulic hoses are utilised in both surface and underground mining operations. The hydraulic hose market is expected to increase significantly due to the expanding mining industry. The growing construction industry equipment also inclines hydraulic hoses in machines such as bulldozers, backhoes, wheel loaders, excavators, and others. The demand for the hydraulic hose is estimated to grow substantially from the construction industry due to the requirement of high operating pressure and maximum abrasion resistance to the equipment. Moreover, the demand-driven from the other end-use industries such as the transportation industry is likely to boost the market growth in the forecast period.

In the construction sector, a hydraulic rubber hose transfers water, fuel, air, and construction materials. Hydraulic rubber hoses are used in the chemical industry, pulp and paper industry, and material handling industry to transmit fluids. For Instance, In March 2020, Parker Hannifin’s (NYSE: PH) Hydraulic Pump and Power Systems (HPS) Division launched a new online configuration tool for its Gold Cup Pump and Motor Series with support for an additional product series planned in the future. The new e-configurator tool streamlines users’ online configuration with a convenient embedded tool view, including model-based dimensioning and extended product summary at one location.

Market Analysis by Product, Application, and Regions:

  • Based on product, the market is categorised into reinforced, corrugated, and coiled, among others.
  • The significant applications of the market includes agriculture, construction, and material handling, among others.  
  • The regional markets for hydraulic hose include North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. 

Key Findings of the Report:

  • The growing demand from the industries to take care of their operational efficiency is the major driving factor for the hydraulic rubber hose market.
  • Technological developments in core construction and infrastructure industries are expected to increase demand for the hydraulic hose market.
  • The rapid development and increasing investment in the construction sector are key factors driving the growth of the hydraulic hose market. 
  • During the forecast period, the global hydraulic hoses market is predicted to rise due to an increase in manufacturers' research and development activities and the expansion of key hydraulic hose manufacturers in developing economies. 

Key Offerings of the report:

  • The EMR report gives an overview of the global hydraulic hose market for the periods (2016-2020) and (2021-2026).   
  • The report also offers the historical (2016-2020) and forecasted (2021-2026) markets for product, application, and major regions of hydraulic hose.   
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global hydraulic hose industry are Parker-Hannifin Corporation, Eaton Corporation plc, Bridgestone Corporation, RYCO Hydraulics Pty Ltd, and ContiTech AG, among others.

The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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