Transparency Market Research (TMR) has just released a report stating that the global market for hydraulic rubber hoses is predicted to progress at a CAGR of 4.2% within the years 2014 to 2022. The revenue from hose manufacturing is expected to reach a total of US $1 billion by the end of 2022, rising from US $779.8 million in 2016. The report also details how the construction industry has steadily presented a high demand for hydraulic rubber hoses. It is forecasted that by the end of 2022 the application-based revenue for hydraulic rubber hose manufacturers in construction machinery is expected to reach US $260 million.
“The profits in a product market such as hydraulic rubber hoses manufacturing is based solely on the demand for it in various application sectors,” states a TMR analyst. “In this case, it is the demand stemming from sectors such as agriculture and construction. Both these sectors are currently showing a massive increase in demand for hydraulic rubber hoses due to their physically flexible nature that can be a key advantage over conventional plastic and steel piping,” the analyst adds.
Hydraulic rubber hoses provide strong leak protection and can also be used to carry high-pressure fluids in extreme environments while still maintaining their flexibility. For these reasons rubber hoses are often selected before plastic and metal hoses.