Hose Pipe Market Expected to Reach $32.3 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Hose Pipe Market," The hose pipe market size was valued at $18.7 billion in 2020, and is estimated to reach $32.3 billion by 2032, growing at a CAGR of 4.4% from 2023 to 2032.

A hose pipe is a flexibly functional empty tube that is designed to transfer and carry any fluid from one end to the other. The design of the hose is particularly based on its properties of combined performance and application. Some of the factors that are considered important for its design and making are size, chemical compatibility, length, straight hose or coil hose, pressure rating, and weight. Depending on the surrounding environment and pressure gauges in need, polyurethane, nylon, natural or synthetic rubbers are used for making the hose pipes. Pipes that are made of rubber are durable, incorporating high strength and flexibility. The most flexible dredge hoses are used for silt/gravel transmission. Types of flexible dredge hoses include floating rubber hose, exhaust hose, pull hose, battle horse, and ceramic hose.

Increase in construction activities drives the growth of the hose pipe market. Investments in infrastructure development is on the rise across the globe, especially in developed economies such as the U.S. The government is investing heavily in the development of sports infrastructure and facilities. The growth of global construction activities increases demand for hydraulic-based construction equipment such as excavators, hydraulic cranes, and loaders, which is expected to boost the hose pipe market growth. Rise in technological developments in core construction and infrastructure industries is expected to increase the demand for the hose pipe market outlook.

In 2021, Asia-Pacific dominated the global hose pipe market share, in terms of revenue. Moreover, the market in LAMEA is anticipated to grow with the highest CAGR, owing to growth in industrialization in the region. Growth in construction and industrial sectors in countries, such as China, India, Malaysia, and Indonesia has been an instrumental factor for the high market growth in Asia-Pacific.

Various manufacturers in the hose pipe market such as Dutron Group, Easton Corporation PLC, Gates Corporation, Manuli Hydraulics and Polyhose offer a wide variety of, plastic pipe, plastic long pipe, hose pipes for various applications. For instance, in December 2022, Gates launched the ProV hose family in Europe, which is an addition to the Pro Series product portfolio that leverages technologies developed and first launched in the MXT and MXG product lines.

The hose pipe market is witnessing various obstructions in its regular operations due to COVID-19 pandemic and inflation. Earlier, the global lockdowns resulted in reduced industrial activities, eventually leading to reduced demand for hose pipe from various sectors such as construction and industrial. However, the COVID-19 has subsided, and the major manufacturers in 2023 are performing well. Contrarily, rise in global inflation is a new major obstructing factor for the entire industry.

The inflation, which is a direct result of the Ukraine-Russia war, and few long-term impacts of the coronavirus pandemic, has introduced volatility in the prices of raw materials used for manufacturing hose pipe. In addition, the cost of oil & gas has also increased substantially, and many countries, especially, the countries in Europe, Latin America, and developing economies in Asia-Pacific are experiencing severe negative impacts in industrial production, including the production of hose pipe. However, India and China are performing relatively well. In addition, inflation is expected to worsen in the coming years, as the possibility of the ending of the war between Ukraine and Russia is less. Moreover, the cost of construction has increased substantially, discouraging builders from initiating new projects, which is expected to negatively affect the hose pipe market opportunity. However, a peace agreement between Ukraine and Russia can be devised, with continued talks between different countries.

Key Benefits For Stakeholders

• The report provides an extensive analysis of the current and emerging hose pipe market trends and dynamics.
• In-depth hose pipe market analysis is conducted by constructing market estimations for the key market segments between 2020 and 2032.
• Extensive analysis of the hose pipe market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
• A comprehensive analysis of all regions is provided to determine the prevailing opportunities.
• The hose pipe market forecast analysis from 2023 to 2032 is included in the report.
• The key market players within hose pipe market overview are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the hose pipe industry.