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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.
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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.
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