Growing Demand For Hose Pipes Around The Globe

By Author: Nitesh Sanghvi
Total Articles: 13
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The hose pipe market is projected to grow at a significant CAGR from 2018 to 2024. In 2017, the global hose pipe market was valued at $7 billion and is expected to reach $14 billion by 2024 with a CAGR of 3.2%. Asia Pacific was the fastest growing region during 2017 with an increase rate of 6.6% over 2016 which led other regions such as Europe (4%) and North America (3%).

Applications of Hose pipes

Hose pipes are used in various applications to convey fluids from one place to another under varying pressure and temperature conditions. They are also known as vessel conductors or tube conductors which transmit fluid from one area to another through pressure force. On the basis of application, the hose pipes market can be segmented into agriculture, construction, mining, manufacturing & industrial and residential.
Of these, the agriculture segment is expected to hold a major share of the market during the forecast period. Agriculture is the largest sector in many countries which includes India and China.

In Asia Pacific region (APAC), Asia will account for the highest contribution towards global demand ...
... for hose pipe exports market during 2017-2026 due to growing population coupled with increasing consumption levels across all segments such as residential homes, commercial establishments etc.

The demand for hose pipes is increasing day by day due to growing use of these products in industrial, commercial and residential sectors.
Increasing Urbanization and Agricultural Activities
Urbanization is increasing. This has resulted in an increase in demand for agricultural activities and hose pipes around the globe. Hose pipe manufacturers are also expanding their business to meet this growing demand, especially in countries like India, where the need for hose pipe suppliers is rapidly growing
The use of high-pressure sprayers is increasing due to increased urbanization and agricultural activities such as horticulture, dairy farming and poultry raising.

Rising Industrialization

Industrialization is the process of social and economic change that takes place in a society and leads to the increasing number of industries in the economy. Industrialization is a process that occurs in stages, with some industries developing before others.

For example, during industrialization some countries were able to create new technologies to help them produce more goods at once than ever before possible (e.g., machine tools). This allowed for faster production times which led to higher GDP per capita levels across many countries around the world

Regional Outlook

The Asia Pacific region accounted for the largest share of the hose pipe market in 2017. The North America region accounted for the second largest share of the hose pipe market in 2017. Europe accounted for the third largest share of the hose pipe market in 2017.

- North America
North America is a major market for hose pipes, and the demand for these products is expected to grow at a significant CAGR through 2020. The growth in this region is driven by factors such as increasing urbanization and agricultural activities.

- Europe
Europe is the second largest market for hose pipes. The European Union has a large number of manufacturing companies and end users. In addition, Europe is facing issues related to water scarcity due to rapid urbanization, which will affect its growth prospects in the coming years.

Europe is expected to grow at a healthy CAGR (compound annual growth rate) during the forecast period ending 2020-2021.

- Asia Pacific
The Asia Pacific Region, consisting of the following countries, witnessed the highest growth and market share, specifically the hose pipe exporters in India:
● China
● India
● Australia
● New Zealand
● Indonesia
● Japan
● South Korea
● Philippines
● Thailand
● Malaysia

Conclusion

With the ever-increasing demand for hose pipes in various sections of the global economy, it gives a massive opportunity for hose pipe manufacturers in India. With proper support from the government, it will be of no surprise that India will become the leading manufacturer and exporter of hose pipes!