Asia Pacific Industrial Hose Market is expected to reach US$14,305.87 Million by 2031

Surging Demand in Food and Beverages Industry to Drive the Asia Pacific Industrial Hose Market Growth 

According to our latest market study on "Asia Pacific Industrial Hose Market to 2031 – Regional Analysis – by Material Type and Industry Vertical," Asia Pacific industrial hose market was valued at US$ 8,343.34 million in 2023 and is expected to reach US$ 14,305.87 million by 2031; it is anticipated to register a CAGR of 7.0% from 2023 to 2031. Asia Pacific industrial hose market report includes growth prospects in light of current trends and driving factors influencing the market growth. 

Hoses are flexible tubes used to transfer gases, liquids, and solids from one point to another. In industrial setups, hoses are used to transfer materials such as liquid chemicals, waste gases, water, beverages, production materials, debris, and dust. Industrial hoses are designed to handle air, water, food products, beverages, cement particles, dry materials, chemical materials, fuels, oil products, gases, and many more entities. Rapid industrialization with significant investments in the water and wastewater treatment industries drives the growth of the Asia Pacific industrial hose market. In September 2024, the Asian Development Bank announced an investment of US$ 200 million until 2025 under the Water Resilience Program to support water and sanitation services in the region. According to the bank’s estimates, approximately funds worth US$ 60 billion are required annually for the development of water-related infrastructure in Asia Pacific. The investment would also help establish sustainable water management infrastructure in the region.

Asia Pacific Industrial Hose Market Share — by Country, 2023

Source: The Insight Partners Analysis

China generates a significant demand for industrial hoses owing to the rapidly growing automotive businesses in the country. Leading vehicle manufacturers in the country are investing considerable resources in the expansion of their plants. In July 2024, China’s BYD Ltd. opened an electric vehicle manufacturing plant in Thailand to magnify its regional presence. The factory creates a demand for various types of industrial hoses.

Based on material type, the Asia Pacific industrial hose market is segmented into rubber, PVC, polyurethane, silicone, and others. Based on vertical, the market is segmented into automotive, water and wastewater, oil and gas, chemicals, infrastructure, food and beverages, agriculture, mining, and others.

Norres; ALFA GOMMA Spa; Sinopulse; Qingdao Qingflex Hose Factory; Qingdao Somax Manufacturing Co.,Ltd; Sunhose Online Services; NFK Vietnam Co., LTD.; Minh Lap Co., Ltd.; HUANYU HOSE CO., LTD.; Taiwan PU Corporation; Semperit AG Holding; and Fu Sheng Rubber & Plastic Ind. Co., Ltd. are among the prominent industrial hose manufacturers operational in Asia Pacific countries.

The Asia Pacific industrial hose market is segmented into China, South Korea, Malaysia, Taiwan, Thailand, Vietnam, and the Rest of Asia Pacific. These countries demonstrate a strong focus on the development of their corresponding industrial sectors with actions taken to raise significant investments for the same. The vigorous growth of the industrial sector in Asia Pacific signifies a heightened demand for industrial hoses in the chemical, oil, gas, and automotive industries, among others. China, India, Japan, and South Korea are among the major automotive manufacturing economies across Asia Pacific. The automotive sector in South Korea is the seventh largest market globally by vehicle sales. In September 2024, Kia Corporation opened Electric vehicle manufacturing plant at Gwangmyeong EVO Plant to expand its manufacturing capabilities. Light commercial vehicle production level in the region expanded to 51.8 million units in 2023, recording an annual increase of 10%. The flourishing automotive sector is a key enabler of the growth of the industrial hose market in the region.

China is a hub for industries such as chemicals, oil and gas, automotive, and food and beverages. Industrial hose is a crucial component in these industries. In October 2024, investments by the government of China for various industrial development projects reached US$ 28 billion. Further, in December 2022, the South Korean government approved a budget of US$ 499 billion to address rising economic risks and industrial development in the country. Such investments for economic development, in turn, result in a massive demand for high-quality, durable industrial hoses across Asia Pacific.

India, Indonesia, and Vietnam are among other significant contributors to the growth in demand for industrial hose in the Asia Pacific region. The growth of the industrial sector in this region is primarily attributed to the rapidly increasing middle-class population. According to Vietnam's Ministry of Planning and Investment (MPI), foreign direct investments (FDIs) into the manufacturing sector in the country were valued at more than US$ 23.5 billion in 2023, accounting for around 64.2% of the total FDI capital. Some of the major developments across the Rest of APAC are mentioned below:

• DNV granted new type approval to ALFA GOMMA Spa, for Alfabiotech Evolution hydraulic assemblies, which have been certified for installation on vessels classified by DNV. This approval applies to Alfabiotech Evolution 4K, 5K, 5.5K, and 6K hose assemblies, which comply with the standards and guidelines for designing, constructing, installing, inspecting, and verifying piping systems and marine equipment onboard ships. (ALFA GOMMA Spa, Press Release, May 2024)
• Sinopulse Hose Factory Co Ltd, announced the expansion of its production facility to meet the growing market demand for industrial hoses across the Asia Pacific countries. (Sinopulse Hose Factory Co., Ltd, Press Release, June 2024)
• Alfagomma China has relocated to a new factory situated in the rural city of Cixi in Ningbo. The new facility has been operational since January 2023, and though new equipment and additional production lines are still being installed, fittings, hose assemblies, and manipulated tubes are already being manufactured. The new plant, which covers 34,500 sqm and occupies 20,000 sqm, is expected to double its production capacity compared to 2022 upon completion of the new equipment setup. (Alfagomma China, Press Release, May 2023)

In July 2024, the Indonesian government launched the second phase of an industrial complex in Central Java in Batang Industrial Park. Nearly 20 companies, including South Korea's LG Energy Solution and KCC Glass Glass Maker, have planned investments in this space spread across 4,300 hectares in Indonesia. These companies have invested more than US$ 860 million in the country. Further, in September 2024, WHA Corp, a Thailand-based industrial estate developer, launched various plans to attract foreign direct investments in the country. Also, in the Asia Pacific region, as per the Economic Research Institute for ASEAN and East Asia Countries, around US$ 1.5 trillion Investment proposed per year for the economic development in the Asia Pacific countries. Further, in November, 2024, Indonesia government aimed investment of around US$ 120 billion by 2025 for the industrial development in its national economy according to the Minister of Investment in the country. Further, as per the International Trade Administration Organization, in December 2022, South Korea government approved investment of US$ 499 billion for 2023 budget. The South Korean Government investment targeted in several industries including automotive, healthcare, medical devices, industrial chemicals, semiconductor manufacturing, energy, and transportation.

Further, increasing private investment for the industrial development across the Asia Pacific region is expected to create ample opportunity for the Asia Pacific industrial hose market. In China, several multinational companies are expanding their production capabilities through investments in both production and research & development capabilities. For instance, in April 2024, the BMW Group, a German carmaker, announced an investment of ~US$ 2.81 billion for the expansion of its production capabilities in Shenyang city in northeastern China. In September 2024, Schneider Electric, a French company, started expanding its production capacity in Shanghai. Further, in September 2024, Intel Corporation unveiled the expansion plan of its chip manufacturing capacity base in Chengdu in southwest China, with an investment of US$ 300 million in its expansion capabilities. Industrial hoses are essential components of material handling, transfer, and other processes in industrial facilities. Thus, rapid industrialization with a surge in investments by governments is expected to create ample opportunities for the growth of the Asia Pacific industrial hose market.

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