China Industrial Hoses Industry Analysis, Size, Share, Growth, Trends & Forecast to 2031
The China Industrial hoses market is expected to rise by 5.7 percent year on year in 2021, defying early concerns about how the business would fare during a worldwide pandemic. The entire demand for industrial hoses in China is estimated to reach US$ 548 million metres by 2031.
According to Future Market Insights (FMI), the China industrial hoses market will be worth US$ 1.9 billion in 2031, growing at a CAGR of 7.3 percent. Ultra-high pressure industrial hoses are expected to increase at a CAGR of 7.5 percent over the assessment period.
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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 Million 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 Million 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.
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.
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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