A hydraulic hose refers to a high-pressure tube used for the transport of fluids inside any hydraulic machinery. The equipment is primarily designed to transfer thrust. Due to the high temperatures and pressures involved in hydraulic applications, selection of the right material in the manufacture of hydraulic hose is important. Thermoplastic hoses offer superior value in terms of high abrasion resistance, high flexibility, low weight, and ability to withstand high pressure – some of the crucial reasons for their adoption in hydraulic applications.
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Recovery from Economic downturn Manifests in Demand for Hydraulic Hose Apparatus
After the 2008-09 recession, economic development is resurfacing in most countries around the world. In North America and Europe, of all business sectors, the construction sector has exhibited notable growth due to the demand for sophisticated infrastructural development. This has in turn augmented the demand for construction equipment, which includes hydraulic thermoplastic hoses. The demand for couplings is a given for the purpose of connecting and tightening the hose and thus goes hand in hand with the demand for hoses.
In agrarian economies such as India and Brazil, progressive agricultural practices are resulting in demand for modern agriculture equipment. Hydraulic hoses fabricated of thermoplastic are useful for irrigation needs. However, due to the high maintenance cost of equipment, thermoplastic hoses are not affordable for small farmers. Thanks to the utilization of alternative materials such as fiberglass and fluoropolymers, which are advanced thermoplastic composites, the manufacture of cost-effective equipment will lead to more widespread adoption of hydraulic hoses. This newer equipment exhibits similar virtues of withstanding temperature and pressure extremities, and at affordable prices, leading to high demand from farmers. The market for hydraulic thermoplastic hose couplings will naturally benefit from this trend as well.
Modernization of Agricultural Practices Beneficial for Hydraulic Thermoplastic Hose and Couplings Market
Construction equipment is the largest application segment of the hydraulic thermoplastic hose and couplings market. The other major applications of the equipment are agriculture equipment, telephony mobile equipment, and lubrication lines, among others. Consistent growth in the construction equipment market is expected to benefit the market for hydraulic thermoplastic hose and couplings.
Businesses that operate on automated equipment require maintenance of the equipment on a regular basis. Thus, thermoplastic hose and couplings that are used in the lubrication lines of a large number of end-use industries will witness robust growth. Couplings exhibit a greater replacement demand than hoses due to a high vulnerability to damage during operations. Thus, the couplings market will witness a higher growth rate than the hydraulic hose market.
Geographically, Asia Pacific was the largest market for hydraulic thermoplastic hose and couplings in 2013; the region contributed 39.4% of the revenue in the global market. In the region, state-of-the-art infrastructural development and adoption of modern agricultural practices will result in substantial demand for the equipment in the coming years as well.
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In the recent past, developed economies such as the U.S. exhibited sluggish growth in the hydraulic thermoplastic and hose market. Nevertheless, with the end of the last economic crisis, the market will gain traction in developed countries in the coming years.