According to study, “World Hydraulic Hose Market Research Report 2024(Covering USA, Europe, China, Japan, SEA and India)” the key companies operating in the global hydraulic hose market are Parker Hannifin Corp., Manuli Hydraulics, Yokohama Rubber Co. Ltd., Gates Corp., Bridgestone Corp., Eaton Corp., Semperit, HANSA-FLEX AG, Sumitomo Riko, Alfagomma Continental SPA, RYCO Hydraulics Pty. Ltd., Kurt, LETONE-FLEX, Dagong, YuTong, Ouya Hose, Jintong, JingBo, Yuelong, LuoheYiBo, and Hengyu. Manufacturers focus on improving the research & development (R&D) capabilities to diversify the product range. Manufacturers are also enhancing the product quality by acquainting with new designs. The hydraulic hose and fittings market is competitive due to presence of a large number of vendors. The top vendors and local and regional vendors also manufacture customized, energy-efficient equipment at low price than the international companies.
Hydraulic hose is replacement of the rigid pipes particularly designed to transfer fluid to or among different hydraulic components for instance actuators, valves, and tools. A hydraulic hose is consisting of inner rubber protection layer, middle rubber layer, steel wire spiral layer and the exterior rubber cover. It is characteristically flexible, reinforced, and typically constructed with numerous layers of reinforcement subsequently. The systems operate at high pressures and fitted with appropriate connections to conduct fluid or fluid power within a hydraulic system sustaining the high-pressure conditions. The important parameters like dimension, performance specifications, construction options, and features are required for the hydraulic hose to use in different end-use industries.
Based on type, market is segmented into wire braided hydraulic hose and spiral wire hydraulic hose. Wire braided hydraulic hosesegment is showing high growth due to its major applications in the fields of automatic hydraulic systems of oil field exploiting machine, mine hydraulic bracket, mine projects, and other industrial sectors. Based on product type, market is segmented into coiled, reinforced, corrugated and articulated. Based on material type, market is segmented into fluoropolymers & silicons, elastomers or rubber, metal and thermoplastics. Based on pressure, market is segmented into high pressure, medium pressure and low pressure.In addition, based on end-use industries, market is segmented into construction, agriculture & forestry, manufacturing or industrial, transportation, mining and others (pharmaceuticals and beverage).
The market is driven by growth of agricultural sector as usage of equipment such as tractors, haying machines, combined harvesters and tillers, followed by rise in demand for heavy machinery coupled with rise in equipment, increase in industrialization along with the growth in construction projects,surge in demand for various construction & industrial applications, growth in technological development, rise in large global sellers & small suppliers and increase in demand of energy-efficient green buildings. However, less scope for product differentiation may impact the market.
Based on geography, the North-American region is a prominent producer and consumer in the world hydraulic hose market owing to increase in production of hydraulic hose in the region. The Asian-Pacific and European regions are expected to witness higher growth rate due to rapid growth in the agricultural sector and rise in population over the forecast period. In upcoming years, it is anticipated that the market will be reached at rapid pace on account of improvement in economic conditions in the developing countries.
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Ankur Gupta, Head Marketing & Communications