Flourishing construction industry post economic recession is one of the major factors driving the hydraulic thermoplastic hose and couplings market. Increased industrial and agricultural mechanization are also instrumental in boosting the market demand. Superior characteristics offered as compared to rubber equivalents make thermoplastic hoses a preferred choice for hydraulic applications. These factors are expected to contribute towards a CAGR of 4.7% during the forecast period 2024 – 2032. However, issues such as lack of product differentiation and varying manufacturing standards pose moderate challenge to the market growth. The hydraulic thermoplastic hose and couplings market  is expected to reach US$ 1288.5 Mn by 2030.

The purpose of this strategic research study titled “Global hydraulic thermoplastic hose and couplings market - Growth, Share, Opportunities, and Competitive Analysis, 2024 – 2032” is to offer industry investors, company executives, and industry participants with in-depth insights to enable them make informed strategic decisions related to the opportunities in the global hydraulic hose and couplings industry.

In terms of revenue, hydraulic thermoplastic hose was the largest product segment, accounting for over 80% of the global hydraulic thermoplastic hose and couplings market revenue in 2023. Hoses are integral components of hydraulic heavy machinery since they carry fluid required for transmitting the requisite force. Over the forecast period, hydraulic thermoplastic hose are expected to remain the major product segment, majorly supported by the growth in the industrial production, agricultural process automation, and booming construction industry.

Although hydraulic thermoplastic hose is expected to remain the major product segment, hydraulic couplings are expected to witness comparatively higher growth during the forecast period 2024 – 2032.  Hydraulic couplings being more vulnerable to damage than any other component in the hydraulic assembly are expected to witness greater replacement demand than hydraulic thermoplastic hoses. Couplings play a crucial role in connecting two hoses. As such, vigilant selection and installation of couplings is necessary to curb maintenance expense and reduce machine downtime. In addition, superior benefits offered including light weight, easy installation and mounting, and better resistance to environmental conditions have made couplings the preferred connecting component over the traditional nut and bolt joints for hydraulic applications.

Construction equipment/machinery including earth movers, excavators, loaders, and tractors make widespread use of hydraulic hoses to carry fluid necessary for transmitting force throughout the machinery. In 2023, construction equipment/machinery was the largest application segment in the hydraulic thermoplastic hose and couplings market, accounting for over one fourth of the global market revenue.

Swift recovery by the construction industry post economic recession in developed economies (North America and Europe) coupled with the infrastructural development in emerging economies is expected to drive demand for construction equipment, which, in turn is expected to support the demand for hydraulic thermoplastic hoses and hydraulic couplings. As such, construction equipment application segment is anticipated to exhibit maximum growth, outpacing all other application segments over the forecast period 2024 – 2032. On the other hand, industrial and material handling segment is all set to witness robust demand over the forecast period. The growth in industrial output is expected to boost the demand for industrial and material-handling machinery across the globe.

In 2023, the hydraulic thermoplastic hose and couplings market exhibits significant trends, with the Asia-Pacific region expected to register the highest CAGR, driven by rapid industrialization, infrastructure development, and agricultural modernization, particularly in emerging economies like China and India. This region's growth is further bolstered by the increasing adoption of advanced hydraulic systems in construction, manufacturing, and agriculture. Conversely, North America accounts for the highest revenue percentage, attributed to the established industrial base, stringent regulatory standards for equipment safety and efficiency, and the early adoption of innovative hydraulic technologies in sectors such as construction, agriculture, and industrial manufacturing. This comprehensive analysis encapsulates the dynamic nature of the hydraulic thermoplastic hose and couplings market, highlighting the interplay between various applications, product types, and geographic regions in shaping market trends, growth opportunities, and revenue generation.

A hydraulic thermoplastic hose is a flexible hollow tube structure made of thermoplastics and designed to transport fluids from one location to another within hydraulic machinery to transfer the requisite force. A hydraulic coupling is a connecting component used to join two hydraulic hoses together at ends for transferring power. Hydraulic thermoplastic hose and couplings find applications in construction equipment, agricultural equipment, industrial and material handling equipment, lubrication lines, and power and telephone mobile equipment among others.

Hose and fitting products have been around in the industry since 1800s. However, hydraulic hose with swaged or crimped style hose couplings surfaced only after the introduction of the hydraulic brake in late 1910s. Since then, hydraulic hose and couplings industry has evolved considerably. The table below represents the major historical events in the hydraulic hose and couplings industry.         

Generally, a hydraulic hose is designed considering multiple parameters such as application and required performance. Similarly, selecting right raw material for manufacturing hoses for hydraulic applications is equally crucial. Common factors considered while choosing a raw material for hydraulic hose include compatibility with chemicals, resistance to abrasion, weight, and pressure rating among others. Rubber and Thermoplastic are the two predominantly used raw materials for hoses. Although the majority of hoses are made from rubber, the demand for thermoplastic hose is on a rise owing to following reasons mentioned in the table below. The following table represents the comparison between these two raw materials.

Notable Market Players

Parker Hannifin Corporation, Eaton Corporation, Gates Corporation, Transfer Oil S.p.A, Nitta Corporation, Polyhose India Pvt. Ltd., RYCO Hydraulics Pty Ltd., NRP Jones, Dyna Flex, Inc., Kurt Manufacturing Co., Inc., MAC Tubi S.p.A, ZEC S.p.A., Piranha Hose Products, Inc., and  Other Notable Players.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Hydraulic Thermoplastic Hose And Couplings market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Hydraulic Thermoplastic Hose And Couplings market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Hydraulic Thermoplastic Hose And Couplings market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Hydraulic Thermoplastic Hose And Couplings market?
• Which is the largest regional market for Hydraulic Thermoplastic Hose And Couplings market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Hydraulic Thermoplastic Hose And Couplings market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Hydraulic Thermoplastic Hose And Couplings market worldwide?