According to a recent report published by MarketsandMarkets™, “Industrial Hose Market by Material (PVC, Polyurethane, Rubber, Silicone, Others), Media Type, Industry (Oil & Gas, Automobile, Water, Pharmaceuticals, Food & Beverages, Chemicals, Infrastructure, Agriculture, Mining), and Region – Global Forecast to 2023”, the market is estimated to grow from USD 10.67 Billion in 2017 to USD 14.81 Billion by 2023, at a CAGR (compound annual growth rate) of 5.6% between 2017 and 2023.
Growing infrastructure-related developments and increasing demand for robust industrial hoses in critical applications are some of the driving factors for the growth of the market.
