Automotive hose is expected to register constant growth as demand for commercial and private vehicles increases.
Mechanization will drive growth for hydraulic hoses used in various machineries.
Small investment required for setting up an assembly unit will help in diversifying the hose manufacturing to different geographies.
Improving resistance to wear and increased capability to bear extreme temperature and pressure will expand the scope of processes where hose can be used.
Analysts at Ken Research in their latest publication Global Automotive and Hydraulic Hose Pipe Market Outlook to 2021 believe that R&D expenditure must be increased to attract the best minds and resources to develop the industry. Governments must ensure that IPR must be protected to promote R&D. Companies can interact with small manufacturers of hydraulic machinery to create awareness about their products. Market for automotive and hydraulic hoses will register a positive growth in the future as manufacturing is recovering in all major economies. With improved living conditions and increasing purchasing power, demand for automobiles is on rise.
The report provides information on hydraulic and automotive hose pipes used in manufacturing, automobile and construction industry. It also covers the product and company profile of global majors such as Eaton, Trelleborg, Manuli, Gates, Polyhose and others.
With improved living conditions and increasing purchasing power, demand for automobiles is on rise. Rise in income level has also led to increase in demand for better infrastructure and real estate thus creating additional demand for construction machineries and other type of domestic hoses. Market for automotive and hydraulic hoses will register a positive growth in the future as manufacturing is recovering in all major economies. Emergence of several new countries especially in Africa, parts of Asia and Latin America that have focused on mechanization to improve efficiency and emerge as producer of finished goods rather than raw material will have positive impact on the demand for hose in future. All major companies operating in hose pipe segment have positive outlook about the future demand for hose pipes. They are bullish about the market on the assumption that improving economic conditions will promote manufacturing and demand for automobiles.
Asia Pacific will continue to maintain its dominance in the hose market as it caters to some of the largest economies in the world which includes countries like India, China, Japan and Australia. Europe will remain the largest market in EMEA; however growth will remain near stagnant in coming years as demand for automobiles decline both in terms of manufacturing and demand. In Middle East, most of the demand comes for replacement and repair. Many types of equipment are imported from foreign countries and they are in-build to the equipment as intermediary good. The market in Canada is expected to remain stable whereas Mexico may register growth in demand if manufacturing is not much affected by prohibitory policy of the US. Countries such as Brazil and Venezuela are expected to recover from economic slump and gain political stability to promote economic recovery thus increasing the consumption of hoses.
Key Topics Covered in the Report
Growth in Automotive Hose Pipe Market
Industrial Hose Pipes with Fittings Market
Segmentation Automotive Hose Pipe Market
Global Hose Pipe Market Size
Manufacturers Hose Pipe India
Competition in Hose Pipe Market
Rubber Hose Pipe Industry Growth
Hose Pipe Market Trends
Flexible Hose Pipe Market
Hose Pipe Manufacturers Global
To know more about the report:
Ankur Gupta, Head Marketing & Communications