Growing adoption of modern agricultural equipment coupled with rapid industrialization and ongoing
construction projects across the globe are key contributing factor for market growth over the forecast period.
Furthermore, increasing use of hydraulic hose in the military and industrial sector is propelling industry
expansion over the next seven years.
The market is broadly categorized into five major segments based on the application type such as engineering
machinery, mining industry, industrial sector, and agriculture sector and automotive industry. The engineering
machinery is considered as one of the fastest growing segment in the market with substantial revenue
generation in the last few years. Growing popularity of hydraulic hose in the engineering machinery segment is
attributed to the increasing demand for heavy machinery and higher market penetration.
The market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America
has shown major growth in recent years owing to the rise in the implementation of latest technologies in mining
industry and automotive sector, increase in the number of research & development activities in the region and
existence of well-established industrial infrastructure.
Asia-Pacific region is predicted to hold major market share in the hydraulic hose market with massive growth in
forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with strong
economic growth in the region, rapid industrialization, rising number of constructional activities, and significant
investment by leading industry players considering potential growth opportunities in the region.
The key players in the hydraulic hose market are Parker Hannifin Corp., Manuli Rubber Industries S.p.a.,
Alfagomma Hydraulic S.p.a., The Yokohama Rubber Cc., Ltd., Gates Co., Bridgestone Co., Eaton Co., Semperit
AG Holding Group, Hansa-flex AG, Sumitomo Riko Co., Ltd., and Continental AG.
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