Hose Pipe Market Growing at a CAGR of 4.4% from 2023 to 2032 | End User Construction Automotive Oil Gas Food Beverages

he reports by Allied Market Research provides valuable insights into the market dynamics, segmentation, and competitive landscape, offering a comprehensive

WILMINGTON, DE, UNITED STATES, January 7, 2025 /EINPresswire.com/ -- Allied Market Research recently published a comprehensive report titled “Hose Pipe Market by Type (Hydraulic, Pneumatic, and Others), Materials (Rubber and Plastic), and End-user Industry (Construction, Automotive, Oil & Gas, Agriculture, Food & Beverage, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032.” The report reveals that the global hose pipe industry generated $18.7 billion in 2020 and is projected to reach $32.3 billion by 2032, with a compound annual growth rate (CAGR) of 4.4% from 2023 to 2032. Hose pipes, which are long, flexible tubes made of rubber or plastic, are used to direct water for various purposes, including firefighting, car washing, and garden watering.

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Prime Determinants of Growth

Several factors are driving the growth of the global hose pipe market. The rise in building construction, growth in the automotive industry, and expansion of the manufacturing sector are significant contributors. However, the fluctuating cost of raw materials poses a challenge to market growth. Conversely, the growth of the chemical and manufacturing industries in emerging countries presents lucrative opportunities for market expansion.

Report Coverage & Details

The report covers the forecast period from 2023 to 2032, with 2022 as the base year. The market size in 2020 was $18.7 billion, and it is expected to reach $32.3 billion by 2032, with a CAGR of 4.4%. The report spans 245 pages and segments the market by type, materials, end-user, and region. Key drivers include growth in the automotive and manufacturing sectors, while opportunities lie in the chemical industry's expansion. The fluctuating cost of raw materials is identified as a restraint.

COVID-19 Scenario

The COVID-19 pandemic had a negative impact on the global hose pipe market due to a decline in construction activities during lockdowns. Reduced industrial activities led to decreased demand for hose pipes from various sectors. However, as the pandemic subsided, major manufacturers have resumed operations, and the market is growing rapidly.

Market Segmentation

By Type

The pneumatic segment held the highest market share in 2020, accounting for more than half of the global hose pipe market revenue. This segment is expected to maintain its leadership status throughout the forecast period due to the increased adoption of pneumatic hoses in various industries such as automotive, construction, and manufacturing. The hydraulic segment is projected to manifest the highest CAGR of 4.6% from 2023 to 2032, benefiting from the growth of the construction industry.

By Material

The rubber segment held the highest market share in 2020, contributing to nearly two-thirds of the global hose pipe market revenue. Rubber's exceptional properties, including flexibility, durability, and resistance, make it a widely used material. The plastic segment is expected to display the highest CAGR of 5.7% from 2022 to 2032. Plastic's flexibility, lightweight, and ability to be molded into different shapes and sizes make it a popular choice for hose pipes.

By End-User Industry

The construction segment accounted for the largest share in 2020, representing more than one-third of the global hose pipe market revenue. The rise in construction activities and the demand for resilient, reliable, and adaptable hose pipes are expected to boost market growth. The automotive segment is projected to portray the largest CAGR of 4.9% from 2023 to 2032, driven by the industry's innovation and evolution and the demand for specialized, high-performance hose pipes.

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By Region

Asia-Pacific held the highest market share in 2020, accounting for more than half of the global hose pipe market revenue. Major players are developing manufacturing units in these markets to improve production quantities and serve various industries, including construction, oil & gas, and mining. The LAMEA region is expected to witness the fastest CAGR of 4.9% from 2023 to 2032, driven by rapid economic growth and an increasing population, which positively affects the industrial and construction sectors.

Leading Market Players

Key players in the global hose pipe market include Sumitomo Riko Company Limited, Easton Corporation PLC, Gates Corporation, Parker Hannifin, Nichirin Company Limited, Ryco Hydraulics, Dutron Group, Polyhose, SHP Primaflex GmbH, and Manuli Hydraulics. These players have adopted various strategies to increase their market share and maintain dominant positions in different regions. The report provides a detailed analysis of these key players, highlighting their business performance, operating segments, product portfolios, and strategic moves to showcase the competitive scenario.

The global hose pipe market is poised for significant growth, driven by the expansion of the construction, automotive, and manufacturing industries. While the fluctuating cost of raw materials poses a challenge, the growth of the chemical and manufacturing industries in emerging countries presents lucrative opportunities. The pneumatic and rubber segments are expected to maintain their leadership status, while the hydraulic, plastic, and automotive segments are projected to exhibit the highest CAGRs. Asia-Pacific is expected to dominate the market, with the LAMEA region witnessing the fastest growth. Key players are adopting various strategies to increase their market share and maintain dominant positions in different regions.

In summary, the hose pipe market is set to grow steadily, with various segments and regions contributing to its expansion. The report by Allied Market Research provides valuable insights into the market dynamics, segmentation, and competitive landscape, offering a comprehensive understanding of the industry's future prospects.

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David Correa
Allied Market Research
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