Forecast: US hose & belt demand to reach $6.8 B in 2021

US hose and belt demand is forecast to reach USD $6.8 billion in 2021, according to Hoses & Belts: United States, a report recently released by Freedonia Focus Reports. Rising transportation equipment output will spur demand for products such as vehicular hoses and power transmission belts. Domestic oil and gas production is also expected to increase through 2021, which will benefit suppliers of related hoses.

US hose and belt shipments are projected to rise through 2021, driven by increases in domestic demand, as well as expanding exports to key destinations such as Mexico. Growth in shipments will also be supported by the construction and expansion of domestic manufacturing facilities. However, rising import penetration from manufacturers in countries such as China and Mexico will limit faster growth in US hose and belt shipments.

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