The US industrial hose market size is projected to reach US$ 5,153.33 million by 2031 from US$ 3,750.81 million in 2023. The market is expected to register a CAGR of 4.05% during 2023–2031. The introduction of environment-friendly and sustainable industrial hoses is likely to bring new trends to the market.
US Industrial Hose Market Analysis
The increase in activities in the mining sector boosts the demand for industrial hoses across the country. In 2023, American Pacific Mining Corp declared that one drilling rig remained to test the Christmas or Red Creek Target area during the demobilization of the 2023 mountain drilling program. The CRC Target is one of 12 known VMS assignments at the Palmer Project apart from the mineral resources of the Palmer and AG deposits. The growing focus on the mineral exploration sector is estimated to propel the growth of the industrial hose market. The growing proliferation of smart and precision farming is expected to offer growth opportunities for the industrial hose market across the US.
Encouraging government policies are driving advancements in the automotive sector with the rising purchase of EVs in the US. The US government is taking significant steps to phase out gasoline-powered vehicles by accelerating domestic production of EVs. The US Environmental Protection Agency plans to ensure that ~67% of the new light-duty and ~25% of heavy-duty vehicles sold by 2032 are EVs. Furthermore, the Inflation Reduction Act (IRA) pushed various global market players to expand their manufacturing facilities in the country, which is anticipated to drive the application of industrial hoses in the US. As per the International Energy Agency (IEA), owing to the IRA, the US and other North American countries witnessed US$ 52 billion of investment, of which half of the investment is for battery manufacturing and one-fifth of the investment is for battery component manufacturing. Thus, the development of electric vehicle and battery manufacturing and automotive parts fabricating facilities is projected to drive the application of industrial hoses in the US.
US Industrial Hose Market Overview
The growing urbanization in the US drives the development of the water and wastewater and construction industries. The increasing infrastructure development owing to the rising number of schools, universities, housing apartments, and commercial office construction is also boosting the requirement for wastewater and sewage cleaning services, subsequently propelling the industrial hose market growth in the US.
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US Industrial Hose Market: Strategic Insights
US Industrial Hose Market
-
Market Size 2023
US$ 3,750.81 Million
-
Market Size 2031
US$ 5,153.33 Million
Market Dynamics
GROWTH DRIVERS
- Rise in Investments in Water Treatment Plants Across US
- Development in Oil & Gas Sector in US
- Extensive Applications of Industrial Hoses in Growing Automotive Industry
FUTURE TRENDS
- Introduction of Environment-Friendly and Sustainable Industrial Hoses
OPPORTUNITIES
- Growing Government Investments in Efficient Sewer and Drain Infrastructure
- Increasing Smart City Initiatives and Infrastructure Development Projects
Regional Overview
- US
Market Segmentation
Material Type
- PVC
- Rubber
- Polyurethane
- Silicone
- Composites
End Use Industry
- Automotive
- Water and Wastewater
- Oil and Gases
- Infrastructure
- Food and Beverages
- Mining
- Chemical
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US Industrial Hose Market: Strategic Insights
-
Market Size 2023
US$ 3,750.81 Million -
Market Size 2031
US$ 5,153.33 Million
Market Dynamics
- Rise in Investments in Water Treatment Plants Across US
- Development in Oil & Gas Sector in US
- Extensive Applications of Industrial Hoses in Growing Automotive Industry
- Introduction of Environment-Friendly and Sustainable Industrial Hoses
- Growing Government Investments in Efficient Sewer and Drain Infrastructure
- Increasing Smart City Initiatives and Infrastructure Development Projects
Regional Overview
- US
Market Segmentation
- PVC
- Rubber
- Polyurethane
- Silicone
- Composites
- Automotive
- Water and Wastewater
- Oil and Gases
- Infrastructure
- Food and Beverages
- Mining
- Chemical
- Get Top Key Market Trends of this report.This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.
US Industrial Hose Market Drivers and Opportunities
Development in Oil & Gas Sector in US
Per the US Energy Information Administration (EIA), in the US, natural gas production from the seven largest shale basins is estimated to augment in 2024. Shale production is anticipated to expand from ~23% of total gas production in the US in 2010 to approximately ~49% by 2035. The US has secured its position as one of the leading shale gas producers worldwide. Energy uncertainties owing to geopolitical disturbances are boosting the production of shale gas in the US, which is likely to create major opportunities for oil & gas infrastructure growth in the coming years. The rapid development in the oil & gas sector is anticipated to boost the application of industrial hoses in the US over the forecast period.
Rising population and expanding urbanization are a few factors boosting the consumption of energy worldwide. As per the US Energy Information Administration (EIA), US energy consumption is anticipated to grow through 2050 owing to economic and population growth. Natural gas has the potential application in electricity generation. According to the US Energy Information Administration, natural gas production and demand are anticipated to rise in the US in 2024. Natural gas production is anticipated to reach 105.12 billion cubic feet per day by 2024, rising from 99.60 billion cubic feet and 103.68 billion cubic feet per day in 2022 and 2023, respectively. Thus, the rise in demand for natural gas and growth in the oil & gas sector are driving the US industrial hose market
Increasing Smart City Initiatives and Infrastructure Development Projects
Smart cities are rapidly evolving as urbanization is increasing. Water and energy are two of the most often used resources in cities. The overuse of these resources is steadily depleting them, which can potentially result in a catastrophic occurrence in the future. Thus, governments across the US are implementing smart water management, which promotes efficient wastewater management and treatment using technology. A smart city uses technology to enhance operational efficiency and information transfer and improve both the quality of government services and citizen welfare. This technology has proven to lead to prominent improvements in water management, dramatically altering the way cities manage their water supplies. Smart cities use innovative techniques to improve water management, resulting in more efficiency, cost savings, and proactive decision-making. The rise in technology adoption is due to its features that include collecting data, managing operations, and planning upgrades to support the transition to a more efficient and effective utility infrastructure in smart cities. Smart cities optimize water management operations with accurate and real-time data, allowing for increased infrastructure efficiency and resulting in decreased energy usage and expenditures.
The integration of computer models, field data, and Supervisory Control and Data Acquisition (SCADA) systems can help streamline operations and identify areas for rehabilitation or improvement in a water system. According to Smart America, in June 2022, city governments in the US announced their plan to invest approximately US$ 41 trillion in infrastructure upgrades and the implementation of Internet of Things solutions over the next 20 years. In 2023, the Bipartisan Infrastructure Law by the Federal Transit Administration funded over US$ 300 billion for projects meant to rebuild and repair roads and bridges in the US. In addition, in 2023, it provided financial aid of US$ 25 billion to renovate and upgrade airports and US$ 17 billion to improve US ports and waterways. Such initiatives are projected to support the development of smart cities. These smart cities are expected to have a proper smart water management system and treatment activities, which require next-generation industrial hoses. Thus, the growing number of smart city initiatives is projected to increase the demand for next-generation industrial hoses, which is likely to fuel market growth in the coming years.
US Industrial Hose Market Report Segmentation Analysis
Key segments that contributed to the derivation of the US industrial hose market analysis are material type and end-user industry.
- In terms of material type, the US industrial hose market is divided into PVC, rubber, polyurethane, silicone, composites, and others. The rubber segment dominated the market in 2023.
- In terms of end-user industry, the US industrial hose market is divided into automotive, water and wastewater, oil and gas, infrastructure, food and beverages, mining, chemical, and others. The oil and gas segment dominated the market in 2023.
US Industrial Hose Market Share Analysis
The geographic scope of the US industrial hose market report offers a detailed country analysis. Growing urbanization and increasing government focus on infrastructural development promote the demand for industrial hoses in urban and rural areas, majorly in water and wastewater treatment facilities and sewer and drainage services. For instance, in March 2024, the US Department of Agriculture Rural Development announced a contribution of US$ 16.9 million for water and sewer development projects in rural Michigan. In April 2024, the US government announced US$ 320 million for the development of Tribal Domestic Water Infrastructure. In February 2024, the US government invested US$ 772.6 million across 216 projects in 45 states, Puerto Rico, and the Northern Mariana Islands. Further, US$ 644.2 million is committed to strengthening rural utilities, allowing 158 projects to offer wastewater systems for over 900,000 individuals. In 2023, Massachusetts secured ~US$ 260 million for upgrading sewer and water infrastructure. The major share of the funding came from the US government's US$ 1 trillion infrastructure law, authorized in November 2021, along with the American Rescue Plan Act, which assigns nearly US$ 2 trillion in funding for several infrastructure projects across the US. The city of Haverhill secured more than US$ 12.8 million in 2023 for upgrading water and sewer infrastructure. In addition, the city of Lawrence secured US$ 6.8 million for several stormwater and sewer projects.
US Industrial Hose Market Market Report Scope
Report Attribute
Details
Market size in 2023
US$ 3,750.81 Million
Market Size by 2031
US$ 5,153.33 Million
Global CAGR (2023 - 2031)
4.05%
Historical Data
2021-2022
Forecast period
2024-2031
Segments Covered
By Material Type - PVC
- Rubber
- Polyurethane
- Silicone
- Composites
By End Use Industry - Automotive
- Water and Wastewater
- Oil and Gases
- Infrastructure
- Food and Beverages
- Mining
- Chemical
Regions and Countries Covered
US- US
Market leaders and key company profiles
Novaflex Inc. Parker Hannifin Corp Kuriyama of America Inc. Gates Corporation Norres Kanaflex Corporation Danfoss AS Flexaust Inc. Jason Industrial Inc. Polyhose Inc
Report Attribute | Details |
---|---|
Market size in 2023 | US$ 3,750.81 Million |
Market Size by 2031 | US$ 5,153.33 Million |
Global CAGR (2023 - 2031) | 4.05% |
Historical Data | 2021-2022 |
Forecast period | 2024-2031 |
Segments Covered |
By Material Type
|
Regions and Countries Covered | US
|
Market leaders and key company profiles |
US Industrial Hose Market News and Recent Developments
The US industrial hose market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the US industrial hose market are listed below:
- RYCO announced the launch of its new Industrial Hoses product range. RYCO Industrial Hoses cover a wide range of non-hydraulic fluid conveying applications, including fuel, steam, air, chemicals, foodstuffs, and abrasives. (Source: RYCO, Press Release, January 2024)
- Continental, a global leader in rubber and technology products for industrial sectors, has announced the new PC160i Crimper technology that takes the guesswork out of hose crimping, ensuring a reliable connection with every new hose application. (Source: Continental, Press Release, May 2024)
US Industrial Hose Market Report Coverage and Deliverables
The "US Industrial Hose Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:
- US industrial hose market size and forecast at country levels for all the key market segments covered under the scope
- US industrial hose market trends, as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST and SWOT analysis
- US industrial hose market analysis covering key market trends, country framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the US industrial hose market
- Detailed company profiles
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Global, Regional, Country
- Industry and Competitive Landscape
- Excel Dataset
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
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 the key market players operating in the US industrial hose market.
The adoption of new machinery such as sewage cleaners, drain management machines, and other required equipment is rising with the increasing urbanization. The US government has been pushing its investment limits to support municipal departments with a better drainage system, which also allows them to keep their respective states cleaner.
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.
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The List of Companies - US Industrial Hose Market
- Eaton Corp Plc
- Novaflex Inc
- Parker Hannifin Corp
- Kuriyama of America Inc.
- Gates Corporation
- Norres
- Kanaflex Corporation
- Polyhose Germany GmbH
- Jason Industrial
- Flexaust Inc.