The global hydraulic rubber hose market is witnessing substantial growth in the recent times, led by increased usage of heavy machinery across diverse industry verticals. Rubber hoses are extensively used for transferring hydraulic fluids in heavy equipment and off-highway vehicles employed in construction, mining, agriculture and other industrial applications. Their ability to withstand high pressures and flexing makes them an indispensable piping component in these machines. Advances in material science have led to development of superior rubber compounds that provide enhanced longevity, thermal resistance and safety. Further, rising investments in modernization of industrial infrastructure and adoption of advanced hydraulic technologies are positively impacting the demand for high quality rubber hoses.
Market Dynamics:
Growing infrastructure development activities, robust demand from agriculture sector and rapid industrialization are some of the key factors driving the global hydraulic rubber hose market. Rise in mining and construction operations globally has significantly bolstered the sales of earthmoving machinery, excavators, loaders and cranes which employ hydraulic systems extensively. This in turn is fueling the consumption of hydraulic hoses. Moreover, increasing mechanization of agricultural processes along with growing farm equipment sales is boosting the market. Modern hydraulic-powered harvesters, tractors and other agro-machines require reliable hoses to function efficiently. Expanding manufacturing industry and steady recovery of oil & gas sector post COVID-19 pandemic are also propelling the hydraulic rubber hose market. However, availability of substitutes such as thermoplastic hoses and presence of local vendors in developing markets pose challenge to industry growth. Ongoing research toward developing lightweight, flexible and durable hoses using advanced polymer composites provides tremendous opportunities for manufacturers.
Key features of the study:
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook