China industrial hoses market will surpass $1.9 billion in 2031

Dubai, UAE – In 2021, the China Industrial hoses market is estimated to record 5.7% year on year growth, bucking initial skepticism about how the market would perform during a global pandemic. In China, the total demand of industrial hoses is expected to reach 548 Mn Meters by 2031.

According to the analysis by Future Market Insights (FMI), the China industrial hoses market will surpass a valuation of US$ 1.9 Bn in 2031, rising at a CAGR of 7.3%. Ultra-high pressure industrial hoses will reflect a positive growth outlook with a CAGR of 7.5% through the assessment period.

The sales of industrial hoses in China are also understood to have risen with demand from its domestic market commanding over 55% of the nation’s total sales and consumption. The export curbs are also likely to be eased in the upcoming years.

The oil and gas industry is considered as one of the prominent users of industrial hoses. Crude oil and gas being corrosive in nature may erode linings and will call for regular installment of hoses, thus driving the sales of replacement units. Superior grade materials such as composites, polymers, and steel is expected to augur the sales of industrial hoses to a high degree.

Advent of cryogenics in HVAC, industrial air separation plants, and medicine has necessitated the use of industrial hoses under extreme pressure and temperature. Steel and braided hose types have been preferred for the same. The demand is likely to be propelled by the medical and life sciences sectors incorporating cold storage systems and cryogenics.

Some of the key players in this industry are Parker Hannifin Corporation, Tiger Polymer Corporation, Continental AG, Eaton Corporation, Rehau Group AG, Balflex LLC, Trelleborg AB, Kuriyama Holdings Corporation, and Qingdao Everflex Rubber & Plastic Co., Ltd. amongst others.