Hydraulic Thermoplastic Hose and Couplings Market growing at a CAGR of 4.5% from 2014 to 2022

A hydraulic hose, unlike a regular water hose, is used to sustain water flow at high pressures. Hydraulic hoses are used mostly in hydraulic machinery, where fluids have to be transferred with great force. Creating the perfect tube that can withstand these high pressures and high temperatures requires the knowledge to select the right type of material. In the ideal industrial scenario, a hose needs to be highly flexible, as low in weight as possible, fully resistant to abrasion or rupture due to external objects, and should handle heavy pressure levels of fluids. It is these ideals that are imbibed by the global hydraulic thermoplastic hose and couplings market, in order to create the right hose for the right situation.

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The global hydraulic thermoplastic hose and couplings market is growing at a CAGR of 4.5% from 2014 to 2022. The market’s 2012 value of US$504.5 million is expected to grow to US$747.2 million by 2022.

Expanding Construction Sector Boosts Global Hydraulic Thermoplastic Hose and Couplings Market

One of the key regions of activity for the global hydraulic thermoplastic hose and couplings market is Asia Pacific. With most countries in the Asia Pacific region, such as China and India, undergoing heavy industrialization coupled with rapid population increase, there is a wider range of construction projects being undertaken here. Consequently, the demand from the Asia Pacific hydraulic thermoplastic hose and couplings market has also witnessed a dramatic spike.

This is also applicable in other regions such as South America and Europe, with nations such as Brazil undergoing industrialization and the European countries of Ireland and the U.K. witnessing a surge in construction activities. Most earthmoving equipment and construction equipment requires hydraulic hoses in great measures. The list of vehicles that incorporate hydraulic hoses and couplings includes cranes, loaders, backhoes, excavators, tippers, and dumpers. The earthmoving equipment and construction equipment segment had held a dominant share of 26.1% of the global hydraulic thermoplastic hose and couplings market’s revenue in 2013.

Couplings Market Growing beyond Hydraulic Hoses Market

Within the global hydraulic thermoplastic hose and couplings market, the scope of growth for hydraulic couplings is greater than that of hydraulic hoses. This is because couplings wear out faster than hydraulic hoses and therefore need to be replaced more frequently. In fact, the global hydraulic couplings market, as a standalone market, is growing at a faster CAGR of 4.6% from 2014 to 2022 in comparison to the global hydraulic thermoplastic hose and couplings market.

Key Companies face Restrictions due to Similarity of Products

The top players in the global hydraulic thermoplastic hose and couplings market are RYCO Hydraulics Pty Ltd., Nitta Corporation, Manuli Rubber Industries S.p.A, Eaton Corporation Plc, Gates Corporation, and Parker Hannifin Corporation. Apart from these top names, the global hydraulic thermoplastic hose and couplings market is highly fragmented in a regional manner.

The global hydraulic thermoplastic hose and couplings market is quite mature and steady in terms of innovation. This has become its key restraint, as fewer innovations results in a lack of product differentiation. This has caused a margin reduction and hesitancy in investors in terms of investing in product innovations.

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