Global Hydraulic Thermoplastic Hose and Couplings Market: Snapshot
Presence of several players makes the global thermoplastic hydraulic hose and couplings market considerably fragmented. In order to thrive in such a fragmented landscape savvy players are seen refurbishing their product lines. They are also seen focusing on bettering their geographical footprints. To do so, most of them have turned their gaze upon the relatively under-tapped markets in Asia Pacific such as China and India. Owing to cheap land and labor in the region, manufacturing costs are relatively less there. This has egged them to set up manufacturing units in Asia Pacific.
The global hydraulic thermoplastic hose and couplings market is mainly being buoyed by the surge in commercial and residential projects. Growing mechanization of agricultural activities is also serving to boost demand in the global hydraulic thermoplastic hose and couplings market. This robust rise in demand coupled with the reasonable upfront capital required for setting up manufacturing units has resulted in many large, medium, and small organizations foraying into the space. This has been putting a downward pressure on the price of final products.
The only challenge for the global thermoplastic hydraulic hose and couplings market is the high cost of maintenance. Despite the drawback, the market is set to rise in the near future because of the numerous advantages of thermoplastic hose and couplings over rubber and metal products.
A research report on the global thermoplastic hydraulic hose and couplings market finds that it would likely pull in a revenue of US$747.2 mn by 2022 from US$543.9 mn in 2015.
High Demand for Hydraulic Thermoplastic Hose Drives Market
The two different types of products available in the global hydraulic thermoplastic hose and couplings market are hydraulic couplings and hydraulic thermoplastic hose. Between the two, the hydraulic thermoplastic hose is seeing an outsize demand. As a result, its contribution to revenue in the overall market is also considerable. The TMR report predicts the segments revenue contribution to grow to US$651.53 mn by 2022.
Going forward, however, the global thermoplastic hydraulic hose and couplings market is set to see a fast paced increase in demand for hydraulic couplings because of the rapidly aging hydraulic equipment being currently used for various applications. Despite this, the product segment may not be able to beat hydraulic thermoplastic hose with respect to revenue generation. Contribution to overall revenue by the hydraulic couplings is set to reach US$95.63 mn by 2022.
Asia Pacific Market See Solid Demand from Burgeoning Construction Sector
Geographically, the global thermoplastic hydraulic hose and couplings market is spread across Asia Pacific, Europe, North America, South America, and the Middle East and Africa. Among them, the Asia Pacific thermoplastic hydraulic hose and couplings market is witnessing robust demand. This is because of the several infrastructural and construction projects in the region, particularly in the nations of China and India. Demand in the region is also rising because of the soaring use of hydraulic thermoplastic hose and couplings in farming procedures. According to the TMR report, the revenue in the Asia Pacific thermoplastic hydraulic hose and couplings market will likely become worth US$301.10 mn by 2022.
Asia Pacific is trailed by North America in the global thermoplastic hydraulic hose and couplings market in terms of revenue generation. This is mainly on account of the revival of the construction industry in the region.
Prominent participants in the global thermoplastic hydraulic hose and couplings market that have been profiled in the report are Gates Corporation, Parker Hannifin Corporation, Eaton Corporation Plc, Polyhose India Pvt. Ltd., RYCO Hydraulics Pty Ltd., and Manuli Rubber Industries S.p.A.
- Hydraulic Thermoplastic Hose
- Hydraulic Couplings
- Agriculture Equipment
- Construction Equipment
- Industrial and Material Handling Equipment
- Lubrication Lines
- Power and Telephone Mobile Equipment
- Other Applications (Blowout Preventer Control Lines, etc.)
- North America
- Asia Pacific
- Middle East and Africa
- Latin America