Dublin, Oct. 23, 2024 (GLOBE NEWSWIRE) -- The "US Industrial Hose Market Size and Forecast, Country Share, Trend, and Growth Opportunity Analysis Report Coverage: By Material Type and End-Use Industry" report has been added to ResearchAndMarkets.com's offering.
The US industrial hose market size is projected to reach US$ 5.15 billion by 2031 from US$ 3.75 billion in 2023. The market is expected to register a CAGR of 4.05% during 2023-2031. Introduction of environment-friendly and sustainable industrial hoses is likely to remain a key trend in the US industrial hose market. 
The continuous introduction of new vehicle models and the need for advanced manufacturing procedures are likely to continue to propel the demand for industrial hoses over the forecast period. The US is the largest manufacturer of automobiles. The burgeoning demand for automotive vehicles results in frequent investments in the automotive sector in the country.
For instance, in February 2024, Schaeffler announced the expansion of its operations in the US with the addition of a new manufacturing facility concentrating on fabricating automotive electric mobility solutions. The company planned an investment of over US$ 230 million for the establishment of an advanced manufacturing facility in Ohio, US, along with its future expansion until 2032.
The assembly plant of the Mazda-Toyota joint venture for manufacturing automotive parts in Huntsville, General Motors Company's Detroit/Hamtramck Assembly, Flint Truck Assembly, Lansing Delta Township Assembly, and Orion Assembly. Ford Motor Company's Flat Rock Assembly Plant, Dearborn Truck, and Michigan Assembly Plant are a few of the major automotive manufacturing plants in the US. The extensive applications of industrial hoses in the flourishing automotive industry fuel the US industrial hose market growth.
A poorly maintained sewage infrastructure could negatively impact individuals' quality of health and wellness. Additionally, the lack of competent waste management and drain cleaning services could lead to several infections, diseases, and harmful components affecting individuals and compromising public safety. Thus, the US government and private agencies are educating the masses about the importance of competent management of waste and maintenance of sewer and drain infrastructure across commercial and residential units. In January 2023, the EPA announced a US$ 500 million loan to improve wastewater and drinking water infrastructure in New Jersey.
In January 2024, The Michigan Department of Environment, Great Lakes, and Energy announced grants worth US$ 67.1 million for the MI Clean Water Plan to help Michigan communities in upgrading water infrastructure. The main object of the project is to reduce sewage overflows into Lake St. Clair and maintain drinking water service lines in several communities properly.
The existing water systems across the US are grappling with the challenges posed by aging pipelines, treatment plants, and distribution networks, boosting the demand for sewer and drain cleaning services and the application of industrial hoses across the US. The increase in government investments in drainage and sewage projects is likely to boost the US industrial hose market.
Novaflex Inc., Parker Hannifin Corp, Kuriyama of America Inc., Gates Corporation, Norres, Kanaflex Corporation, Danfoss AS, Flexaust Inc., Jason Industrial Inc., and Polyhose Inc. are among the key players profiled in the US industrial hose market report. Companies operating in the US industrial hose market mainly focus on product and service enhancements by integrating advanced features and technologies into their offerings.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 73 |
| Forecast Period | 2023-2031 |
| Estimated Market Value (USD) in 2023 | $3.8 Billion |
| Forecasted Market Value (USD) by 2031 | $5.2 Billion |
| Compound Annual Growth Rate | 4% |
| Regions Covered | United States |
Key Topics Covered
1. Introduction
1.1 Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Secondary Research
3.2 Primary Research
3.2.1 Hypothesis formulation
3.2.2 Macro-economic factor analysis
3.2.3 Developing base number
3.2.4 Data Triangulation
3.2.5 Country level data
4. US Industrial Hose Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 Raw Material Providers
4.3.2 Industrial Hose Manufacturers and Distributors
4.3.3 End-Users
4.3.4 List of Vendors in the Value Chain
5. US Industrial Hose Market - Key Market Dynamics
5.1 US Industrial Hose Market - Key Market Dynamics
5.2 Market Drivers
5.2.1 Rise in Investments in Water Treatment Plants Across US
5.2.2 Development in Oil & Gas Sector in US
5.2.3 Extensive Applications of Industrial Hoses in Growing Automotive Industry
5.3 Market Restraints
5.3.1 Volatile Raw Material Prices and Impact of Macroeconomic Factors
5.4 Market Opportunities
5.4.1 Growing Government Investments in Efficient Sewer and Drain Infrastructure
5.4.2 Increasing Smart City Initiatives and Infrastructure Development Projects
5.5 Future Trends
5.5.1 Introduction of Environment-Friendly and Sustainable Industrial Hoses
5.6 Impact of Drivers and Restraints
6. US Industrial Hose Market - Global Market Analysis
6.1 US Industrial Hose Market Revenue (US$ Million), 2021-2031
6.2 US Industrial Hose Market Forecast Analysis
7. US Industrial Hose Market Analysis - by Material Type
7.1 PVC
7.2 Rubber
7.3 Polyurethane
7.4 Silicone
7.5 Composites
7.6 Others
8. US Industrial Hose Market Analysis - by End Use Industry
8.1 Automotive
8.2 Water and Wastewater
8.3 Oil and Gases
8.4 Infrastructure
8.5 Food and Beverage
8.6 Mining
8.7 Chemical
8.8 Others
9. Competitive Landscape
9.1 Heat Map Analysis of Key Players
9.2 Company Positioning & Concentration
10. Industry Landscape
10.1 Overview
10.2 Product Development
10.3 Mergers & Acquisitions
11. Company Profiles
11.1 Eaton Corp PLC
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Novaflex Inc.
11.3 Parker Hannifin Corp.
11.4 KURIYAMA OF AMERICA INC.
11.5 Gates Corporation
11.6 Norres
11.7 KANAFLEX CORPORATION
11.8 Polyhose Germany GmbH
11.9 Jason Industrial
11.10 Flexaust Inc.
For more information about this report visit https://www.researchandmarkets.com/r/zam47c
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