Industrial hose market to hit $14.81 by 2023

The global industrial hose market is projected to reach USD $14.81 billion by 2023 and is estimated to grow at a CAGR of 5.6% between 2017 and 2023. The report The Industrial Hose market is estimated to witness significant growth between 2017 and 2023 details that the key factors driving growth are: increasing infrastructure-related developments and growing demand for robust industrial hoses in critical applications. The report includes illustrative segmentation, analysis, and forecast pertaining to the industrial hose market based on media type, material, industry, and geography have been conducted to provide an overall view of the industrial hose market.

The industrial hose market for automobile industry is expected to grow at highest CAGR during forecast period. The market for the automobile industry is expected to grow at the highest CAGR between 2017 and 2023.

Hot water and steam media industrial hoses are used in compressors, blowing machines, spray guns, and sprayers. Water and infrastructure industries primarily use hoses to transfer hot water and steam media. These hoses are also used in chemicals, mining, oil & gas, and pharmaceuticals industries. Moreover, increasing industrialization and urbanization create demand for industrial hoses, further driving the industrial hose market. Industrial hose market in APAC expected to grow at highest CAGR during forecast period.

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