Global Formed Rubber Hose Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Formed Rubber Hose Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

A rubber hose is a hollow tube designed to transport substances from one location to another. Formed rubber hose is rigid but flexible for easy installation. These are produced by taking an extruded hose and then either vulcanizing or curing the hose to the desired shape (bends, flare ends, etc.). Formed rubber hose and tubing has the ability to maintain and preserve its shape once formed.

Market Overview:

The latest research study on the global Formed Rubber Hose market finds that the global Formed Rubber Hose market reached a value of USD 1261.71 million in 2022. It’s expected that the market will achieve USD 1801.96 million by 2028, exhibiting a CAGR of 6.12% during the forecast period.

Influence of COVID-19 Outbreak on Formed Rubber Hose Industry Development

The unprecedented crisis brought on by COVID-19 in 2020 will continue to have a significant impact on the workforce, industries, countries and the global economy in Europe and North America. In the short term, the operational efficiency of Formed Rubber Hose decreased, commuting was blocked, production plans were blocked, network expansion was delayed, marketing was delayed, brand adjustments were forced, market sales declined, and company and employee income declined. The company's operating pressure will increase.

In the long run, as the epidemic gradually improves or ends, all walks of life around the world are gradually recovering. The impact of the epidemic on the Formed Rubber Hose industry will gradually weaken. Production and sales will return to the original level and gradually increase.

Due to the epidemic situation, many countries have imposed controls on domestic transportation and the movement of people, and imposed restrictions on imported goods. This has led to various levels of logistics disruption, cargo accumulation and transportation delays. At present, the logistics industry in various countries is gradually recovering operations according to different national policies. It is expected that after the epidemic is further controlled, it will basically return to normal.

Drivers

For the Formed Rubber Hose industry, one of the driving factors is the continuous development of the automotive industry in Europe and North America. The automotive industry is supported by many factors, such as low-cost skilled labor, strong R&D centers, improved assembly lines, and mass production technologies. These factors are increasing the productivity of the automotive industry. Take the United States for example. According to data from Statista, from 2010 to 2018, sales in the U.S. auto industry showed an overall upward trend. Although shortages of computer chips and factory closures due to the pandemic have limited the supply of new cars in Europe and North America. But data show that in 2021, the U.S. auto industry will sell about 14.9 million light-duty vehicles. That figure includes retail sales of about 3.3 million cars and just under 11.6 million light trucks. U.S. new vehicle sales in 2021 rebounded slightly from dismal 2020 numbers. It can be seen that with the stable recovery of the global economy, the auto industry is also gradually recovering.

At the same time, with the popularity of lightweight automobiles, the development of special rubber and new materials also provides space for the development of automobile forming hoses. With the development trend of automobile lightweight, the market scale of plastic pipes is constantly expanding. The current supply system is dominated by large enterprises, the degree of competition in the industry is relatively insufficient, and the market expansion space is large. The rubber pipeline is also unique and irreplaceable from all kinds of metal and non-metallic pipes due to its free bending, multiple flexing and soft deformation. Therefore, the continuous development of the automotive industry in Europe and North America directly drives the market demand of the Formed Rubber Hose industry.

Region Overview:

USA had the highest growth rate of all regions.

Company Overview:

Parker Hannifin is one of the major players operating in the Formed Rubber Hose market, holding a share of 16.70% in 2022.

Parker consists of six product groups, covering core motion technologies-electromechanical, hydraulic and pneumatic-as well as complete fluid handling, filtration, sealing and shielding, climate control, process control and aerospace technology.

Toyoda Gosei Co Ltd manufactures resin and rubber parts for automobiles. The Company's products include instrument panel modules, spoilers, weather-strip brake hoses, air bag systems, and steering wheels. The Company has offices in the US, Canada, China, Taiwan, and the UK. Toyoda Gosei also produces light- emitting diode (LEDs) for cellular phones and digital cameras.

Segmentation Overview:

Among different product types, EPDM segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Automotive segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Formed Rubber Hose market covered in Chapter 3:

AE Rubber (UK) Ltd
Hutchinson
ContiTech
Ebco Inc
Parker Hannifin
Codan Rubber Danmark A/s
Sumitomo Riko
Toyoda Gosei
Datwyler

In Chapter 4 and Chapter 14.2, on the basis of types, the Formed Rubber Hose market from 2018 to 2029 is primarily split into:

Silicone
EPDM
Nitrile
Neoprene
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Formed Rubber Hose market from 2018 to 2029 covers:

Automotive
Industrial

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)