According to the global Hydraulic Hose Market report published by Value Market Research, the rising demand for reliable hoses ensuring the safety of workers in the industrial sector by the prevention of hose leaks or bursts drives the growth of the market for hydraulic hoses. Hydraulic hoses have contributed a share of 34% with majority of the demand coming from an industrial sector which uses high-value premium hoses for power transmission and other purposes.
Mining is another important outlet for hydraulic hose. Mining industry accounts for over 18% share of the revenue generated by hydraulic hose. Growth of mining industry across the world especially in Asia Pacific, Latin America and Africa is expected to boost the demand for hydraulic hose industry in the years to come. However, less advancement in technology and the limited number of raw materials available coupled with less scope for product differentiation is likely to hamper the market growth of hydraulic hose.
The key players in the hydraulic hose market includes Parker, Manuli, Alfagomma, Yokohama Rubber, Gates, Bridgestone, Eaton, Semperit, HANSA-FLEX, Sumitomo Riko, Continental, RYCO, Kurt and Others.
The broad hydraulic hose market has been sub-grouped into type and application. the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for hydraulic hose in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
By Type
- Spiral Wire Hydraulic Hose
- Wire Braided Hydraulic Hose
By Application
- Engineering Machinery
- Mining
- Industrial Application
- Others
Source: https://www.valuemarketresearch.com/report/hydraulic-hose-market
Naira Shekhawat has been into Content Writing just after completing her Graduation in English Literature. Her love for words has won her many accolades in her respective jobs ever since. Naira covers business sections for VMR News. She is a traveller by heart and loves writing on food blogs as a freelancer.