The major factors that propel the hydraulic hose market include the growing demand for hydraulic hose in various industries such as mining, agriculture, and growing construction activities across the globe. The hydraulic hoses provide various benefits to these industries such as cost-effectiveness, being better able to absorb shock and vibration, easier to route and install, dampening pressure surges and others.
The significant application of hydraulic hoses in hydraulic machines can create strong low-speed torque and manage the speed and movement of machines with extreme accuracy that further encourages the demand for hydraulic hoses in various end-use industries. The ongoing construction projects worldwide are likely to propel market growth. Also, with the growing new projects of thermal power energy, the demand for coal mining has increased drastically, which is again expected to fuel market growth. Moreover, the growing usage of hydraulic hoses in the military and industrial sectors has also raised the demand for the product.
Industry Definition and Major Segments
Hydraulic hoses are used to transport hydraulic fluid from one hydraulic system to another. These are equipped with the necessary connectors and are used to convey fluid / fluid power within a hydraulic system while maintaining high pressure. Hoses are generally flexible, but they are frequently reinforced with multiple layers because hydraulic systems frequently work at very high or high pressures, and they are utilised in machinery and equipment for lifting, hoisting, compressing, shearing, extending, moulding, and other applications. These are used in a variety of industries, including manufacturing, agriculture, and construction.