Research Outlines Huge Growth In Hydraulic Rubber Hose Market

Posted by Sakshi Mishra on December 31st, 2019

The top tier manufacturers of global hydraulic rubber hoses market in 2013 – Gates Corporation, Parker Hannifin Corporation, Polyhose, and Eaton Corporation – accounted for a significant share in the market despite its highly fragmented nature. 

According to a publication by Transparency Market Research, the top tier manufacturers are constantly seeking product improvements and to solidify their credibility and product presence in the market. These manufacturers can also provide a wide array of hydraulic rubber hose types, owing again to the high level of product enhancement and development.

The global market for hydraulic rubber hoses is expected to progress at a CAGR of 4.2% within a forecast period from 2014 to 2022, in terms of revenue. This revenue is expected to reach US bn by the end of 2022, rising from US9.8 mn in 2016.

The global market for hydraulic rubber hoses was dominated by Asia Pacific in 2013 and the report expects this region’s demand to expand at a leading rate. By the end of 2022, the predicted revenue of hydraulic rubber hoses in Asia Pacific will be US2.8 mn.

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Demand for Hydraulic Rubber Hoses Increases in Construction Industry

The construction industry – specifically makers of construction machinery – have consistently presented a high demand for hydraulic rubber hoses. By the end of 2022, the application-based revenue for hydraulic rubber hose manufacturers from construction machinery is expected to reach US0 mn.

Most users of hydraulic rubber hoses have always preferred standard ones. These hoses are expected to continue being highly demanded till 2022, by when this segment will have reached US0.4 mn.