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According to a new report by EMR titled, ‘North America Industrial Hose Market Report and Forecast 2022-2027’, the market attained a value of almost USD 2.46 billion in 2020. The North America market for industrial hose is further expected to grow at a CAGR of around 3.6% between 2022 and 2027.
The thriving automotive industry in North America is generating a significant demand for industrial hoses. The robust development of automobile manufacturing facilities in the region is propelling the demand for hoses to facilitate high-pressure operations smoothly such as welding. Over the forecast period, the increasing sales of electric vehicles in the region are anticipated to support the market growth. Meanwhile, the rising investment in the infrastructure development projects, owing to the rapid urbanisation and rising population, is anticipated to be a major driving factor for the industrial hose industry growth. Moreover, the increasing use of industrial hoses for media routing applications in the food and beverage and agriculture sectors, among others, is likely to accelerate the market growth in the coming years. Furthermore, a hydraulic hose is a crucial component in the oil and gas industry as it helps in shifting the oil pressure to power the machine. In this regard, the increasing investments in the oil and gas sector, owing to the increasing demand for crude oil in the region, are likely to garner the market growth in the forecast period.
In May 2020, Eaton Corporation PLC (NYSE: ETN) announced the launch of new thermoplastic hydraulic hoses and fittings in the Synflex Optimum family, aimed towards improving hydraulic system performance, simplifying assembly, and optimising inventory for demanding applications. The product can be applied in several applications including aerial lifts, agriculture and construction machinery, forestry equipment, and lift trucks, among others, owing to the high abrasion resistance and wide range of pressure it offers. Such developments are expected to support the growth of the industrial hose industry in the forecast period.
Market Breakup by Material, Media, Industry, and Region:
Key Findings of the Report:
Key Offerings of the Report:
The major players in the North America industrial hose market are Eaton Corporation, Parker Hannifin Corporation, Gates Industrial Corporation, Kurt Manufacturing Company, HBD Industries Inc., NovaFlex Group, Kuriyama of America, Inc., and Copper State Rubber, Inc, 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.
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