The global hydraulic hose fitting market is anticipated to grow at a considerable CAGR of 3.6% during the forecast period (2022-2028). Hydraulic hose fittings are the parts that are used for connecting various components, including hoses, pipes, and tubes present in the hydraulic system. The major factor attributing to the growth of the global hydraulic hose fitting market includes the increasing application of hydraulic hose fitting in hydraulic systems of construction machinery due to increasing investment in construction & infrastructure across the globe. According to the Institute of Civil Engineers (ICE), the global construction market is anticipated to reach around $8 trillion by 2030 due to the development activities of various countries, including the US, China, and India. Additionally, governments of European countries are making investments in projects for developing smart cities. It is expected that there are around 300 smart cities in the European Union. Thus, increasing the use of hydraulic hose fittings.
(Get 15% Discount on Buying this Report)
A full report of Global Hydraulic Hose Fitting Market is available at: https://orionmarketreports.com/hydraulic-hose-fitting-market/109958/
The application of hydraulic hose fittings is also increasing in hydraulic systems of motor vehicles due to the increasing number of motor vehicle production across the globe. According to the 2021 Production Statistics report published by the International Organization of Motor Vehicle Manufacturers (OICA), around 80 million motor vehicles were produced across the globe in 2021. Among these, around 23 million commercial vehicles including light commercial vehicles and heavy commercial vehicles were manufactured and around 57 million passenger cars were produced in 2021. Thus, contributing to the growth of the global hydraulic hose fitting market.
The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instances-
- In November 2019, Eaton Corp. launched the newly developed Synflex Optimum thermoplastic hydraulic hoses and fittings. The new Synflex optimum thermoplastic hoses & fitting will benefit customers by improvising the hydraulic system performance and optimizing inventory.
- In January 2019, the Tube fitting division of Parker Hannifin Corp. added Precision Fitting & Gauge (PF&G) as a member of its existing Certified Compressed Natural Gas (CNG) distribution program. PF&G is a motion and control technologies provider.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Material
- By End-User
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Eaton Corp. plc, Parker Hannifin Corp., Ouya Hose Corp., Gates Corp., and The Yokohama Rubber Co. Ltd., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Hydraulic Hose Fitting Market Report by Segment
By Material
- Metal
- Rubber
- Plastic
By End-User
- Construction Machinery
- Agricultural Machinery
- Motor Vehicles
- Other
About Us:
Orion Market Reports (OMR) endeavors to provide an exclusive blend of qualitative and quantitative market research reports to clients across the globe. Our organization helps both multinational and domestic enterprises to bolster their business by providing in-depth market insights and the most reliable future market trends. Our reports address all the major aspects of the markets providing insights and market outlook to global clients.
Media Contact:
Company Name: Orion Market Reports
Contact Person: Mr. Anurag Tiwari
Email: info@orionmarketreports.com
Contact no: +91 780-304-0404
