FMI, Dubai: [200 Pages Report] In 2021, the China Industrial hoses market is estimated to record 5.7% year on year growth, bucking initial skepticism 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.
Steady demand from the automotive industry and energy applications drives sales. The need for transporting media from one destination to another seamlessly and conveniently is a supporting factor driving the market from 2016-2020.
The demand for industrial hoses witnessed a slight dip in 2020 due curbs on production and subsequent supply chain activities owing to the COVID 19 pandemic. China witnessed a rebound in the GDP growth rate of 3.2% by Q2 end, with an industrial sector growth rate of over 8% as compared to 2019.
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.
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Companies operating in the China industrial hoses market are aiming for the launch of new products, gaining new supply contracts, and establishing strategic partnerships to expand their product manufacturing capacity, addressing the demand of an expanding user pool.
For instance, in 2020, Eaton Corporation launched 3 new products to its portfolio of oil and gas well control products, the 3" ID x 10,000 PSI Black Gold® 10k Choke and Kill Hose. The design met criterion such as sustained exposure to fire, and usability in choke and kill applications.
Tubes International’s machine shop got a test bench for testing high pressure hose assemblies in a full range of diameters up to 6000 bar. This new investment enables precise parameterization of every testing stage according to the latest ISO 1402 standard.
Some of the prominent players operating in the Land Survey Equipment Market profiled by FMI are:
- Parker Hannifin Corporation
- Eaton Corporation
- Balflex LLC
- Tubes International Sp Z.O.O
- Spirax – Sarco Engineering Plc
- Comflex Industries Co., Ltd.
- Cjan Fluid Technology Co., Ltd.
- Taizhou Changli Resin Tube Co., Ltd.
More Insights on the Global Alumina Trihydrate Sales Outlook
FMI provides an unbiased analysis of Land Survey Equipment Market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global demand for alumina trihydrate with a detailed segmentation on the basis of:
- Plastics & Polymers
- Braiding Yarn
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
- Commercial Plumbing
- Residential Plumbing
- Food & Beverages
- Cryogenics & Air Separation Plants
- Marine Engines & Equipment
- Diving Device
- Heavy Duty Trucks
- Off Road Construction & Earth Moving Equipment
- Industrial Forklifts
- Agricultural Vehicles
- Mining Vehicles
- Fuel Tankers
- Water Tankers
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Key Questions Answered in the Report
- How much is the China industrial hoses market worth?
In 2021, the China industrial hoses market is expected to reach a valuation of over US$ 986 Mn, rising at a CAGR of 7.3% through 2031.
- What was the rate of growth for industrial hoses sales in the last 5 years?
The industrial hoses market grew at a CAGR of 2.7% from 2016 to 2020.
- What is the share of the top players in the industrial hoses market?
Continental AG, Eaton Corporation, Parker Hannifin Corporation, Trelleborg AB, Tiger Polymer Corporation are leading market players, cumulatively accounting for a 31.5% value share.
- What is the industrial hoses volume outlook in the China market?
The industrial hoses market in China will hit ~270 Mn Meters of industrial hose sales by 2031.
- Which countries are key producers of industrial hoses?
China, Germany, the U.K., the U.S., and Japan are the leading manufacturers of industrial hoses.
- What are the global growth statistics for the industrial hoses market between 2020 and 2021?
The industrial hoses market grew 5.7% between 2020 and 2021.
- What are the key trends prevailing in the China industrial hoses market?
Cost effectiveness in product design and the expansion of distribution networks are key trends that are likely to gain ground in the China industrial hoses market through 2031.
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About Future Market Insights
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centres in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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