Industrial Hose Market Revenue to Attain USD 26.07 Bn by 2033
Published: 15 Nov 2024
Author: Precedence Research
Industrial Hose Market Revenue and Trends
The global industrial hose market revenue reached USD 14.50 billion in 2024 and is predicted to attain around USD 26.07 billion by 2033 with a CAGR of 6.73% during the forecast period. The demand for the industrial hose market is increasing due to growth in the automotive sector
Market Overview
A hose is a soft hollow tube created to transport fluids from one place to another. These hoses are cylindrical in shape with a round cross-section. Key factors that must be considered while making a hose are length, size, weight, pressure rating, and chemical compatibility. The applications of hose are generally in nylon, polyvinyl chloride (PVC), polyurethane, and polyethylene. Hose materials are stainless steel, Teflon, and others.
Report Highlights of the Industrial Hose Market
- By material type, the rubber segment led the global market in 2023. The dominance of the segment is attributed to the various properties offered by rubber such as durability, flexibility, and resistance to harsh environments.
- By material type, the PVC (Polyvinyl Chloride) segment is anticipated to show the fastest growth in the market over the forecast period. The growth of the segment can be linked to the increasing use of PVC products because they are lightweight and flexible.
- By application, in 2023, the construction & infrastructure segment dominated the global market. The dominance of the segment is because they are important for delivering grout and concrete efficiently.
- By application, the pharmaceutical industry segment is estimated to grow at the fastest rate in the market over the projected period. The growth of the segment can be driven by the increasing use of hoses in the pharmaceutical industry as they ensure the safe and efficient transfer of ingredients.
Industrial Hose Market Trends
Development in infrastructure
The increasing number of infrastructure-associated projects is propelling demand for the industrial hose market and optimizing private participation to spend more on infrastructure. In addition, Infrastructure developments in Asia Pacific are being driven by ongoing industrialization and urbanization. This trend is further growing the demand for hoses as they can be utilized for a number of tasks, such as transporting fluids from one end to the other.
- In October 2022, Yokohama Rubber rebranded its hose market business under a brand called Versatran. This will enable the company to enter the international market, attract more market attention, and grow the overall market share.
Technological advancements
Innovations in manufacturing processes, materials science, and advanced design initiatives are changing the ability of industrial hoses, Optimising their effectiveness and adaptability in various fields. Moreover, advanced technologies can be a deciding factor impacting how the market develops if companies focus on safety, performance, and sustainability.
Growth in the food and beverages industry
The rapid expansion in the food and beverages market is contributing substantially to the growth of the industrial hose market. Industrial hoses have become important in this industry as they offer hygienic, reliable, and efficient solutions for fluid conversion over the production process. Also, they are extensively utilized to handle fluids like wine, water, milk, beer, juice, and other ingredients.
Industrial Hose Market Coverage
| Report Attribute | Key Statistics |
| Market Revenue in 2024 | USD 14.50 Billion |
| Market Revenue by 2033 | USD 26.07 Billion |
| CAGR | 6.73% from 2024 to 2033 |
| Quantitative Units | Revenue in USD million/billion, Volume in units |
| Largest Market | North America |
| Base Year | 2023 |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Regional Outlook
Asia Pacific dominated the global industrial hose market in 2023. The region's dominance can be credited to the surge in construction infrastructure coupled with the rising demand for hoses from the construction sector in developing countries like India and Japan. Furthermore, there has been an increase in urbanization and growth in industries such as chemicals, automotive, and pharmaceuticals.
North America is anticipated to grow at the fastest rate in the industrial hose market over the studied period. The growth of the region can be driven by the increasing demand for industrial hoses in non-residential construction infrastructures like commercial buildings, hospitals, and colleges. Moreover, a country like the U.S. has a strong economy because commercial real estate sectors contribute to market expansion.
Market News
- In August 2023, Trelleborg AB acquired USD 600 million Flexfab Horizons International, a producer of flexible hoses and connectors, an acquisition that could enhance Trelleborg’s position in the Automobile turbocharger hose industry.
- In July 2022, Continental AG's industrial segment ContiTech announced a major restructuring of its hose sites in Germany. This declaration was made in response to an oversupply of rubber hoses for combustion engines, which has been obtained from the ongoing transition in the automotive industry.
- In July 2022, Continental, a German auto parts manufacturer, invested USD 40 million to construct a hydraulic hose plant in the state of San Luis Potosi, central Mexico.
Market Segmentation
By Material Type
- Rubber
- PVC
- Silicone
- Teflon
- Other Materials
By Application
- Automotive
- Construction and Infrastructure
- Oil and Gas
- Pharmaceuticals
- Food and Beverages
- Water and Wastewater Treatment
- Mining
- Other Applications
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