According to a new market report published by Credence Research “Hydraulic Thermoplastic Hose and Couplings Market (Construction Equipment, Agricultural Equipment, Industrial and Material Handling, Lubrication Lines, Power and Telephone Mobile Equipment, and Other End-use Applications) Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 – 2022”, the hydraulic thermoplastic hose and couplings market is expected to expand at a CAGR of 4.7% from 2015 to 2022, reaching US$ 814.0 Mn by 2022.
Product and Market Insights
A hydraulic thermoplastic hose is a thermoplastic pipe designed to carry fluids necessary for transferring force inside hydraulic machinery. In view of high temperatures and pressures involved in hydraulic applications, choosing right raw material for manufacturing hoses is extremely crucial. Superior characteristics including ability to stand high pressure, high abrasion resistance, and low weight makes thermoplastic a preferred material for manufacturing hydraulic hoses. On the other hand, couplings are used to connect two hoses together at their ends for transmitting the requisite power. Hydraulic thermoplastic hose and couplings find applications in agricultural machinery, construction machinery, industrial and material handling equipment, lubrication lines, and power and telephone mobile equipment among others.
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The global hydraulic thermoplastic hose and couplings market is matured and concentrated. The top four hydraulic thermoplastic hose and couplings manufacturers account for the lions share in the global market. Gates Corporation (the U.S.), Parker Hannifin Corporation (the U.S.), Eaton Corporation (the U.K.), and Transfer Oil S.p.A (Italy) are identified as the leading hydraulic thermoplastic hose and coupling manufacturers. Other manufacturers including and Nitta Corporation (the U.S.), Polyhose India Pvt. Ltd. (India), RYCO Hydraulics Pty Ltd. (Australia), NRP Jones (the U.S.), Dyna Flex, Inc. (the U.S.), Kurt Manufacturing Co., Inc. (the U.S.), MAC Tubi S.p.A (Italy), ZEC S.p.A. (Italy), and Piranha Hose Products, Inc (the U.S.) have been marked as promising and emerging players in the hydraulic thermoplastic hose and couplings market.
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The hydraulic thermoplastic hose and couplings market has been plagued by lack of product differentiation. This has resulted in price wars, and is consequently leading to profit crunching. As such, application specific product diversification, and focus on product improvement are some of the key strategies to be adopted by manufacturers across the globe.
Construction Industry Regaining its Original Growth Levels Post Economic Recession
Preference for Thermoplastic Hoses over Rubber Hoses in Hydraulic Applications
Introduction of Advanced Thermoplastic Fluoropolymer Hoses
Increased Industrial Production and Agricultural Mechanization
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