The North American hydraulic hose market is projected to grow at a significant CAGR during the forecast period (2020-2026). The market is mainly driven by the rising application of hydraulic hose in various sectors such as agriculture, manufacturing, construction & mining, and others. Therefore, the significant growth in these industries is projected to propel the market growth. The construction industry has a significant contribution to the US economy. The infrastructural investment is further anticipated to increase due to growth in the construction activities seen in the recent past in the region.
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According to the Associated General Contractors of America (AGC), the construction spending totaled around $1.3 trillion in January 2019 at a seasonally adjusted annual rate, up by 1.3% from construction spending in December 2018, and around 0.3% gain from January 2018. This spending will be used in the construction of appealing monuments, with regards to the rising urbanization and industrialization. Increased spending in the building and construction sector is among the key factors that fuel the construction industry that further propel the demand for hydraulic hose in the construction industry. Furthermore, the significant growth in the manufacturing industry further provides ample opportunity for market growth.
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North American hydraulic hose Market – Segmentation
By Product Type
· Articulated
· Reinforced
· Coiled
· Other (Corrugated)
By Industry
· Agriculture
· Construction & Mining
· Manufacturing
· Others (Pharmaceuticals)
North American Hydraulic Hose Market – Segmentation by Country
· United States
· Canada
Company Profiles
· Able Hose & Rubber LLC
· Bridgestone Corp.
· Continental AG
· Eaton Corporation plc
· Gates Industrial Corporation plc
· Kuriyama of America, Inc.
· Parker-Hannifin Corp.
· Semperit Group
· Trelleborg AB
· The Yokohama Rubber Co., Ltd.
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