Rise in Investments in Water Treatment Plants Across US Bolsters US Industrial Hose Market Growth
According to our latest study on "US Industrial Hose Market Analysis to 2031 – Country Analysis – by End-use Industry and Material Type," the market was valued at US$ 3,750.81 million in 2023 and is projected to reach US$ 5,153.33 million by 2031; it is anticipated to record a CAGR of 4.05% from 2023 to 2031. The report includes growth prospects owing to the current US industrial hose market trends and their foreseeable impact during the forecast period.
In urban and rural areas, there is an increased demand for wastewater and water treatment plants; hence, the US government has started investing extensively in water treatment plants. In August 2022, the United States Department of Agriculture (USDA) announced a US$ 75 million investment in infrastructure improvements that involved providing clean drinking water and sanitary wastewater systems to Greenbrier County residents in the rural area. In December 2022, the US announced a US$ 84.7 million investment from President Biden's Bipartisan Infrastructure Act to help 36 communities in drought. These projects have brought clean, dependable drinking water to communities across the West of the US by investing in rainwater harvesting, groundwater storage, water reuse, aquifer recharge, ion exchange treatment, and other methods for extending the utilization of existing water supplies.
US Industrial Hose Market Share — by Country, 2023
US Industrial Hose Market Size and Forecast (2021 - 2031), Country Share, Trend, and Growth Opportunity Analysis Report Coverage: By Material Type (PVC, Rubber, Polyurethane, Silicone, Composites, and Others) and End-Use Industry (Automotive, Water and Wastewater, Oil and Gas, Infrastructure, Food and Beverages, Mining, Chemical, and Others)
US Industrial Hose Market Overview and Forecast by 2031
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Source: The Insight Partners Analysis
In March 2022, the US Department of the Interior stated that the Bureau of Reclamation invested US$ 420 million in rural water-building efforts in fiscal year 2022. This investment in rural water systems involves work associated with pipeline connections, the building of water treatment facilities and intakes, pump systems, reservoir construction, and other activities to deliver potable water to rural and tribal populations. Owing to such investments in the development of water treatment and management plants, the demand for industrial hoses in the US has surged. The rise in investments in water and wastewater treatment plants will directly lead to new water treatment projects, ultimately driving the demand for industrial hoses.
In 2024, the US government and legislative agencies have been highly focused on developing water and wastewater treatment facilities across various states of the US. A few financial aid and regulatory moves are listed below:
- US$ 851.2 million for capitalization grants to states under EPA's Clean Water State Revolving Fund (SRF) program, US$ 494.4 million for EPA's Drinking Water SRF program, US$ 787.7 million for wastewater infrastructure, and US$ 631.7 million for drinking water infrastructure through community project funding/congressionally directed spending
- US$ 3.0 billion for EPA's Drinking Water SRF program for lead service line replacement and related activities
- US$ 64.6 million for subsidy costs for the EPA-administered Water Infrastructure Finance and Innovation Act (WIFIA) program, granting credit assistance up to US$ 12.5 billion
Thus, the rise in investments to develop new water and wastewater treatment plants and upgrade the older ones is a major driver for the US industrial hose market.
Based on material type, the US industrial hose market is segmented into PVC, rubber, polyurethane, silicone, composites, and others. The selection of the appropriate industrial hose primarily depends on the end use. For instance, rubber hoses have a wide range of applications in the automotive sector. Likewise, PVC hoses are majorly leveraged in water and wastewater treatment facilities. Silicon hoses are widely used in the medical sector. Polyurethane, composite, and other types of industrial hoses are majorly used in the chemical, oil and gas, and automotive sectors. The rubber segment held the largest US industrial hose market share in 2023.
Rubber hoses use synthetic or natural rubbers as a raw material to manufacturer industrial hoses. Rubber hoses have excellent resistance to extreme temperatures, chemicals, and abrasion. Thermoplastic rubber is a synthetic rubber that provides the durability of plastic and flexibility of rubber. These types of rubber hoses can operate efficiently in temperatures as high as 280 degree Fahrenheit. Thus, these types of rubber hoses have high demand in high-pressure hydraulic systems, industrial processes where high-pressure gases are used, and the chemical fume processing industry. With continuous growth in the chemical industry and a rise in demand for hydraulic systems, the requirement for rubber hoses is projected to increase. As per industry experts, approximately two-thirds of the total rubber hose demand is from the industrial sector and off-road equipment in the construction and agriculture industries. The automotive sector is one of the largest end users of the rubber hoses. Thus, the growth in the automotive sector will directly contribute to the growing US industrial hose market size, owing to the increased demand for rubber hoses. As per the data provided by the International Organization of Motor Vehicle Manufacturers in 2023, the overall automotive sales in 2022 were 82 million; they reached 92 million in 2023.
The US industrial hose market report emphasizes the key factors driving the market and showcases the developments of prominent players. In the US, the demand for industrial hoses is widely generated by industrial, food and beverages, oil & gas, agricultural, and construction end users. The country is one of the largest producers of crude oil worldwide. The country comprises ~8,650 oil rigs that are currently in operation and produce crude oil for domestic consumption and exports. The number of offshore rigs rose from ~436 in 2020 to 580 in 2021 and 721 in 2022, which is anticipated to have a positive impact on the demand for industrial hoses in the US. The US Gulf Coast is projected to register significant growth in prime gas infrastructure with over 20 LNG terminal projects and over 2,200 km of proposed or in-construction pipeline over the forecast period. Furthermore, during the Russia-Ukraine war, many countries discontinued their respective operations with Russian oil & gas businesses, which resulted in a shift of gas importers from Russia to the US. The following rise in demand for gas further augmented gas production operations across the US, which fuels the gas production infrastructure and application of industrial hoses in the US.
The construction industry in the US is growing with the increasing number of commercial, residential, and civil engineering projects. As per the report by the US Census Bureau, till June 2022, the US Department of Housing and Urban Development sanctioned ~1,800,000 permissions for new residential constructions across the country. A progressive construction sector propels the demand for industrial hoses. According to the Associated General Contractors, the construction sector is one of the prime contributors to the US economy, and it generates approximately ~US$ 2.1 trillion worth of structures each year. Burgeoning construction activities owing to government initiatives toward improving roads and building bridges in remote and rural parts also benefit the US industrial hose market growth.
Industrial hoses have substantial applications in the agriculture sector. The US industrial hose market size is likely to surge owing to the growing focus of the government on developing the agriculture and forestry sectors. Additionally, the US hosts several racing circuits for sports cars and off-road and drag racing events, showcasing the nation's distinct devotion to speed and competition. The US industry emphasizes precision engineering, advanced materials, and continual research and development to enhance performance. Thus, the increased popularity of motorsport and infrastructure has driven the motorsport industry, ultimately driving the automotive sector, which is anticipated to propel the development of the US industrial hose market.
Novaflex Inc., Parker Hannifin Corp, Kuriyama of America Inc., Gates Corporation, Norres, Kanaflex Corporation, Danfoss AS, Flexaust Inc., Jason Industrial Inc., and Polyhose Inc. are among the key players profiled in the US industrial hose market report. Companies operating in the market mainly focus on product and service enhancements by integrating advanced features and technologies into their offerings.
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