Hydraulic Thermoplastic Hose and Coupling Market to Clock US$747.2 mn by 2022, Increasing Demand from End User Industries to Boost Prospects
The competitive landscape of the global thermoplastic hose and coupling market is fragmented with the presence of plethora of players across the globe, finds Transparency Market Research (TMR). Some of the key players operating in the hydraulic thermoplastic hose and coupling market are Gates Corporation, Parker Hannifin Corporation, Eaton Corporation Plc., Manuli Rubber Industries S.p.A., Polyhose India Pvt. Ltd., Nitta Corporation of America, RYCO Hydraulics Pty Ltd., and Poly Flow LLC.
These players are adopting several strategies such as mergers and acquisition, business expanding and collaboration in order to stay ahead in the hydraulic thermoplastic hose and coupling market.
According to the TMR, that the global hydraulic thermoplastic hose and couplings market was recorded at a valuation of US$543.9 mn in 2015. Rising at significant pace, the opportunities in the market is expected to touch revenue worth US$747.2 mn by 2022.
Based on geography, Asia Pacific is expected to dominate the hydraulic thermoplastics hose and coupling market. This is mainly due to the rising construction activities and surge in demand for mechanization of agricultural. On the basis of product variety, the hydraulic thermoplastic hose leads segmented is projected to lead the market with overall 80% of overall market’s revenues.
Thermoplastic Hose and Couplings with other Substitutes to Propel Market
The hydraulic thermoplastics hose and couplings market is expected grow at a significant pace. This is mainly due to the flushing construction industry. The rapid influx of rural people in urban areas has created the need for new buildings and basic infrastructure such as roads, water, sewage and electricity. The has increased the demand for construction equipment and products. Increasing use of thermoplastics hose and couplings in building construction is a expected to boost the prospects of global market in the coming few years.
Further, superior quality of thermoplastic hose and couplings over other substitutes such rubber- and metal-based products is a prominent factor behind the unprecedented growth of the thermoplastic hose and couplings market. Additionally, they are known for high abrasion resistance to ultraviolet light and corrosion thus helps in increasing the shelf life of the product. Along with this, they have a higher chemical compatibility, and much higher flexibility even at low temperature.
Moreover, increasing application of hydraulic thermoplastic hose and couplings for the manufacturing of agricultural equipment is another vital factor projected to boost the hydraulic thermoplastic hose and coupling market.
High Maintenance Costs of Hydraulic Thermoplastic Hose and Couplings to Impede Growth
Hydraulic hose and couplings are primarily used at a place that features extreme operational environment, such as high temperature and pressure. In order to avoid failure in hose assembly, they it demand for production downtime at an industry or stalled operations. Further they need timely maintenance to ensure longer workable life of hydraulic hose assemblies.
High costs incurred in undertaking maintenance activities and downtime need to assemble them is a prime factor expected to hamper the hydraulic thermoplastics hose and coupling market. Nevertheless, several benefits offered by thermoplastic hose and couplings over traditional rubber and metal products is projected to overcome the market restraint and drive the global demand.
TMR analysts suggest that the impact of this restraint will remain moderate and does not impact the growth of the hydraulic thermoplastic hose and couplings market in the near future.
The information is derived from TMR report titled, “thermoplastic hydraulic hose and couplings (Product Type - hydraulic thermoplastic hose and hydraulic Couplings;
Application- agriculture equipment, construction equipment, industrial and material handling equipment, lubrication lines, power and telephone mobile equipment) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025.”
The global thermoplastic hydraulic hose and couplings market has been segmented as follows:
- 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
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