Need immediate assistance? Call 1-518-730-0559 (Us-Canada Toll Free) or Contact Us

 

Technological Advancements and Introduction of New Composites to Drive Global Hydraulic Thermoplastic Hose and Couplings Market

Article Description

As developed economies in North America and Europe are swiftly recovering from the impact of the recent economic depressions, the construction industry in these regions is also expected to witness rapid recovery in the next few years. This is expected to consequently drive the market for construction equipment and thus that for hydraulic thermoplastic hose and couplings. The global hydraulic thermoplastic hose and couplings market, which had a valuation of US$504.5 mn in 2012, is expected to further benefit from the flourishing market for agriculture equipment in agrarian economies such as India and Brazil.

However, the market’s overall development is expected to be hindered to a certain extent owing to the high maintenance costs of hydraulic systems. Nevertheless, the rising use of advanced thermoplastics such as fiberglass and a variety of other composites and fluoropolymers exhibiting low conductivity, low weight, high tensile strength, and high resistance to chemicals has emerged as a highly popular trend. This is a sound opportunity for hydraulic thermoplastic hose and couplings manufacturers for better penetration around the world.

Browse the full Global Hydraulic Thermoplastic Hose and Couplings Market report at http://www.mrrse.com/hydraulic-thermoplastic-hose-couplings-market

Construction Sector to be Global Market’s Major Driving Force

Some of the major applications of hydraulic thermoplastic hoses and couplings are found in areas such as construction equipment, agricultural equipment, industrial and material handling equipment, power and telephone equipment, and lubrication lines. Of these, the segment of construction equipment, which currently accounts for the largest share in the global market, is expected to expand at the fastest pace over the coming few years. This growth can be credited to the steady rise in construction activities in developing regions and the recovering construction industry in developed countries. Owing to the constant need for regular maintenance in all automated equipment, the demand for hydraulic thermoplastic hoses and couplings is expected to see robust growth in lubrication lines. Moreover, higher demand for replacement of hydraulic couplings as compared to hoses is expected to drive the market for hydraulic couplings at a higher pace than that of the market for hydraulic hoses in the next few years.

Asia Pacific to Lead Global Market

The highly lucrative construction industry and the continuous rise in infrastructure development projects in Asia Pacific is a key driver for the global hydraulic thermoplastic hose and couplings market. In 2013, Asia Pacific accounted for a prominent 39.4% share in the market. Apart from the construction sector, demand for hydraulic thermoplastic hoses and couplings is also rapidly rising in the region owing to the increasing trend of mechanization of agricultural processes. Thus, the Asia Pacific regional market for hydraulic thermoplastic hose and couplings is also projected to remain the leading regional market for the next few years. Recovering from the sluggish growth of the past few years, the market is expected to recover in developed economies, especially the U.S. in the near future.

Introduction of Novel Thermoplastic Substances to Enhance Product Quality

The market currently faces the major challenge of a lack of proper standards for product differentiation. Owing to this, the market features intense price competition and has led to crunching profit margins, significantly affecting regional manufacturers. The market thus also sees fewer investments aimed at product innovation. The scenario calls for improved efforts for product diversification suiting newer applications, product enhancements, and improved penetration in distant markets. These, coupled with the use of improved thermoplastic substances, are some of the key growth opportunities for product manufacturers in the global hydraulic thermoplastic hose and couplings market.

Major companies operating in the market include Gates Corporation, Parker Hannifin Corporation, Nitta Corporation, Eaton Corporation Plc, RYCO Hydraulics Pty Ltd., Manuli Rubber Industries S.p.A, Kurt Manufacturing Co., Inc., Polyhose India Pvt. Ltd., Dyna Flex, Inc., NRP Jones, Transfer Oil S.p.A., and Piranha Hose Products, Inc.