Agriculture industry to create significant hose market growth opportunity

02 July, 2019

The growing construction industry equipment also inclines for the use of hydraulic hose in machines such as bulldozers, backhoes, wheel loader, and excavators among others. The demand for the hydraulic hose is estimated to grow at a substantial rate from the construction industry owing 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 transportation industry is likely to boost the market growth in the forecast period.

Among the different end-use application industry of the hydraulic hose market agriculture industry end use application have quite more share than the construction and mining end use application which is probably growing with modest growth rate during the forecast period, however transportation industry shows considerable growth rate over the forecast period in hydraulic hose market by the end of 2027.

 Regional overview

The Asia Pacific region dominates the hydraulic hose market throughout the forecast period. The global market of hydraulic hose is growing due to the subsequent growth in regional demand from North America and the APEJ market. The increase in the local order and presence of key manufacturers is expected to contribute to the growth of the global market.

In APEJ region, the increase in the demand for mechanisation in different industries which has promoted the use of various equipment including hydraulic machines, this is expected to lead the market growth with a significant growth rate over the forecast period.

The hydraulic hose market in Europe is expected to show growth opportunities due to the rising demand supported by growing mining and transportation industry.

 Key players

The manufacturers operating in the global hydraulic hose market include Bridgestone Corporation, Parker Hannifin Corporation, Alfagomma Spa, Eaton Corporation, Gates Corporation, Ryco Hydraulics, Manuli Hydraulics, Hansa-Flex Ag and others located across the globe. The prominent market players in hydraulic hose market are concentrating on the extension of their production abilities and vertical integration for business development.

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