In 2021, the China Industrial hoses market is estimated to record 5.7% year on year growth, bucking initial scepticism about how the market would perform during a global pandemic.
The China Industrial hoses market is expected to rise by 5.7 percent year on year in 2021, defying early concerns about how the business would fare during a worldwide pandemic. The entire demand for industrial hoses in China is estimated to reach 548 million metres by 2031.
According to Future Market Insights (FMI), the China industrial hoses market will be worth US$ 1.9 billion in 2031, growing at a CAGR of 7.3 percent. Ultra-high pressure industrial hoses are expected to increase at a CAGR of 7.5 percent over the assessment period.
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Key Takeaways from Market Study
“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.
Industrial Hoses Market by Category
By Material:
By Product Type:
By Pressure Intake:
By Application:
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Competitive Landscape
The market is highly fragmented, with key players accounting for slightly more than one-fifth of the market share. These players are likely to invest in developing new materials and expansion of their clientele in various industries to enhance their product portfolios.
Some of the key players in this industry are Parker Hannifin Corporation, Tiger Polymer Corporation, Continental AG, Eaton Corporation, Rehau Group AG, Balflex LLC, Trelleborg AB, Kuriyama Holdings Corporation, and Qingdao Everflex Rubber & Plastic Co., Ltd. amongst others.
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Feb 16, 2023