04/20/2021

Hydraulic hose industry information

Today, when science and technology change the way of productivity, the world's industrial production pattern is still undergoing tremendous changes. The downstream applications of hydraulic hoses are extensive and the technology is relatively mature. However, as a common product in the mechanical field, it is less likely to be eliminated by the alternative industry in the future. For the global hydraulic hose industry, the largest market share is led by several giants. With a market share of 9.61% in 2016, Parker is the leader in the hydraulic hose industry, followed by Manuli and Alfagomma. On the whole, there are a large number of companies involved in the hydraulic hose industry, and prices vary greatly depending on the downstream application areas. The main driving factor for the growth of the global hydraulic hose market is the growth in demand in the mining, agriculture, industrial and construction sectors. In 2016, the global hydraulic hose market value reached 1.5 billion U.S. dollars, and it is expected to continue to grow at a compound annual growth rate of 2.06% from 2017. At present, the industrial field is the largest market for hydraulic hoses. From the perspective of the industrial field, hydraulic hoses need to be able to adapt to the challenging environment and meet the requirements of the industrial field. Reliable hose products can prevent pipeline rupture and leakage and ensure the safety of workers. In addition, since the old hose has reached the end of its useful life, the replacement of the hose has also brought growth to the market. From the geographical perspective, the hydraulic hose market can be divided into North America, Europe, Asia-Pacific, Middle East, Africa and Latin America. In 2016, the European region accounted for the largest market share, which was mainly due to the development of the European industrial sector. The major manufacturers of hydraulic hoses have been innovating production to meet the increasingly diverse and personalized needs. They also focus on strengthening their distribution network to increase their share of the global market. According to statistics from the market research organization Qyresearch, the size of China's hydraulic hose market was around US$167 million by the end of 2016. The development of China is obvious to all, and the development of corresponding fields has driven the huge demand of the hydraulic hose industry. In the past few years, there have been more and more hydraulic hose design and production companies in China. Due to the price advantage, more and more Chinese companies are exporting their products abroad. In the next few years, hydraulic hose products will still serve the rapid development of society with more advanced technology and a wider range of applications, and industry competition will become more fierce. In the future, the core competitiveness of hydraulic hose manufacturers will still be technology. Breaking the industry monopoly of high-end products or occupying the market in specific application areas will be the top priority for leading the industry.