In 2021, the China Industrial hoses market is estimated to record 5.7% year on year growth, bucking initial scepticism about how the market would perform during a global pandemic. In China, the total demand of industrial hoses is expected to reach 548 Mn Meters by 2031.
According to the analysis by Future Market Insights (FMI), the China industrial hoses market will surpass a valuation of US$ 1.9 Bn in 2031, rising at a CAGR of 7.3%. Ultra-high pressure industrial hoses will reflect a positive growth outlook with a CAGR of 7.5% through the assessment period.
The sales of industrial hoses in China are also understood to have risen with demand from its domestic market commanding over 55% of the nation’s total sales and consumption. The export curbs are also likely to be eased in the upcoming years.
The oil and gas industry is considered as one of the prominent users of industrial hoses. Crude oil and gas being corrosive in nature may erode linings and will call for regular installment of hoses, thus driving the sales of replacement units. Superior grade materials such as composites, polymers, and steel is expected to augur the sales of industrial hoses to a high degree.
Advent of cryogenics in HVAC, industrial air separation plants, and medicine has necessitated the use of industrial hoses under extreme pressure and temperature. Steel and braided hose types have been preferred for the same. The demand is likely to be propelled by the medical and life sciences sectors incorporating cold storage systems and cryogenics.
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Key Takeaways from Market Study
- China has an estimated share of 9.1% of the global industrial hoses market and close 30% of regional market consumption owing to the country’s high manufacturing output.
- Lubricant hoses to hold the lead with US$ 166.1 Mn in 2021 owing to extensive use in automotive applications.
- Plastic and polymer hoses account for over 33% of the value share in 2021, owing to cost and durability benefits.
- Energy applications to account for US$ 148 Mn in 2021, driven by investments in energy infrastructure upgrades.
- Leading provinces in China are estimated to contribute over 40% of the overall market consumption at 1.1 X of the overall CAGR.
“Transportation of critical fluids under stringent pressure regulations and demand from construction, oil and gas, and cryogenics sectors are major factors driving the demand for industrial hoses in China through 2031,” says a Future Market Insights analyst.
Industrial Hoses Market by Category
By Material:
- Plastics & Polymers
- PTFE
- PUR
- PVC
- Nylon
- Silicone
- Hybrid
- Steel
- Braiding Yarn
- Composites
By Product Type:
- Tank Water Hoses
- Gardening Hoses
- Fuel Hoses
- Diving Hoses
- Brake Hoses
- Bicycle Hydraulic Brake Hoses
- Lubricant Hoses
- Hydraulic Hoses
- Mini Hydraulic Hoses
- Pneumatic Hoses
- Cryogenic Transfer Hoses
- Gas Connection Hoses
By Pressure Intake:
- Low Pressure
- Medium Pressure
- High Pressure
- Ultra High Pressure
By Application:
- Commercial Plumbing
- Residential Plumbing
- Gardening
- Manufacturing
- Food & Beverages
- Chemicals
- Pharmaceuticals
- Others
- Cryogenics & Air Separation Plants
- Energy
- Marine Engines & Equipment
- Diving Device
- Vehicles
- Heavy Duty Trucks
- Off Road Construction & Earth Moving Equipment
- Industrial Forklifts
- Agricultural Vehicles
- Mining Vehicles
- Fuel Tankers
- Water Tankers
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Competitive Landscape
The market is highly fragmented, with key players accounting for slightly more than one-fifth of the market share. These players are likely to invest in developing new materials and expansion of their clientele in various industries to enhance their product portfolios.
Some of the key players in this industry are Parker Hannifin Corporation, Tiger Polymer Corporation, Continental AG, Eaton Corporation, Rehau Group AG, Balflex LLC, Trelleborg AB, Kuriyama Holdings Corporation, and Qingdao Everflex Rubber & Plastic Co., Ltd. amongst others.
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments based on Source, Application, Sales Channel and End-Use over the next 10-years.
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The post According to FMI, the China Industrial Hoses Market: Cryogenics and Air Separation Applications will grow at a 7.1 percent CAGR. appeared first on Future Market Insights.
