According to the latest report of the IMARC Group entitled "Industrial Hose Market: Global Industry Trends, Share, Scale, Growth, Opportunities and Forecasts 2021-2026", the global industrial hose market value will reach USD XX billion in 2020. Industrial hose, also called rubber hose, is a cylindrical hollow tube designed to transfer fluid from one point to another. It includes multiple layers, including an outer layer, a seamless synthetic rubber tube, and a woven or spiral reinforcement layer. Over the years, industrial hoses made of different materials have replaced rigid hoses because of their better flexibility.
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This market is primarily driven by growing applications in the chemical, aerospace, food and beverage, pharmaceutical, agricultural, and automotive industries. For example, rubber hoses are used for material handling and fluid transportation in the infrastructure and construction industries. In addition, the wide application of rubber hoses in automobiles to optimize engine performance and improve fuel efficiency is accelerating market growth. In addition, the development of innovative industrial rubber hoses for discharging and sucking a variety of media is driving the market. In addition, rapid industrialization, increasing modernization of agricultural processes, and development of the oil and gas sector are expected to further drive market growth. Looking ahead, IMARC Group predicts that the market will grow at a compound annual growth rate of XX% from 2021 to 2026.
Segmented by end-use industry:
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