Global Industrial Hose Market: Industry Overview
The Industrial Hose market has been segmented on the basis of material, industry vertical, and geography. Based on the material, the industrial hose market is bifurcated into natural rubber, nitrile rubber, polyurethane, PVC, silicone, and others. Based on industry vertical, the industrial hose market is bifurcated into automotive, water & wastewater, oil & gas, chemicals, infrastructure, food & beverages, agriculture, mining, and others. Based on geography, the Industrial Hose market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). The industrial hose market growth in North America is growing significantly. Increasing growth of the oil and gas and automotive industry is expected to drive the industrial hose market growth in North America. Moreover, North America has the presence of major manufacturers, which are enhancing the availability of the product in the region.
Impact OF COVID-19 Pandemic on Global Industrial Hose Market:
The COVID-19 pandemic has impacted the sales of industrial hoses across the world. However, the pandemic created opportunities for a few players present in the ecosystem. Since the pharmaceutical manufacturing centres globally were active, chemical and gas hoses were in demand. In the pharmaceuticals industry, industrial hoses are utilized in vacuum conveying devices, suction conveyors, dosing systems, and pelleting machines. Thus, an increase in pharmaceutical production is anticipated to fuel the demand for industrial hoses post-COVID-19 crisis.
Owing to the adverse effects of the COVID-19 pandemic, automotive is the most-affected industry after the oil & gas industry. Automobile production across Europe and North America was reduced or nonoperational during the lockdown. The use of industrial hoses is an essential and large issue of the automotive industry. In the modern-day marketplace situation, it is difficult to decide the effect of COVID-19 pandemic on the use of industrial hoses in the automotive industry. However, after the pandemic, the manufacturing of vehicles is anticipated to grow, which would propel the adoption of industrial hoses including water, gas, and chemical hoses during the forecast period.