According to our latest study on " Asia Pacific Industrial Hose Market – Regional Analysis – by Type, and Application," the market is expected to grow from US$ 8,343.34 million in 2023 to US$ 14,305.87 million by 2031; it is anticipated to record a CAGR of 7.0% from 2023 to 2031

The Asia Pacific industrial hose market is segmented into China, South Korea, Malaysia, Taiwan, Thailand, Vietnam, and the Rest of Asia Pacific. These countries demonstrate a strong focus on the development of their corresponding industrial sectors with actions taken to raise significant investments for the same. The vigorous growth of the industrial sector in Asia Pacific signifies a heightened demand for industrial hoses in the chemical, oil, gas, and automotive industries, among others. China, India, Japan, and South Korea are among the major automotive manufacturing economies across Asia Pacific. The automotive sector in South Korea is the seventh largest market globally by vehicle sales. In September 2024, Kia Corporation opened Electric vehicle manufacturing plant at Gwangmyeong EVO Plant to expand its manufacturing capabilities. Light commercial vehicle production level in the region expanded to 51.8 million units in 2023, recording an annual increase of 10%. The flourishing automotive sector is a key enabler of the growth of the industrial hose market in the region.

China is a hub for industries such as chemicals, oil and gas, automotive, and food and beverages. Industrial hose is a crucial component in these industries. In October 2024, investments by the government of China for various industrial development projects reached US$ 28 billion. Further, in December 2022, the South Korean government approved a budget of US$ 499 billion to address rising economic risks and industrial development in the country. Such investments for economic development, in turn, result in a massive demand for high-quality, durable industrial hoses across Asia Pacific.

India, Indonesia, and Vietnam are among other significant contributors to the Industrial hose demand growth in Asia Pacific. The growth of the industrial sector in this region is primarily attributed to the rapidly increasing middle-class population. According to Vietnam's Ministry of Planning and Investment (MPI), foreign direct investments (FDIs) into the manufacturing sector in the country were valued at more than US$ 23.5 billion in 2023, accounting for around 64.2% of the total FDI capital.

Based on material type, the Asia Pacific industrial hose market is segmented into rubber, PVC, polyurethane, silicone, and others. Based on vertical, the market is segmented into automotive, water and wastewater, oil and gas, chemicals, infrastructure, food and beverages, agriculture, mining, and others.

Norres; ALFA GOMMA Spa; Sinopulse; Qingdao Qingflex Hose Factory; Qingdao Somax Manufacturing Co.,Ltd; Sunhose Online Services; NFK Vietnam Co., LTD.; Minh Lap Co., Ltd.; HUANYU HOSE CO., LTD.; Taiwan PU Corporation; Semperit AG Holding; and Fu Sheng Rubber & Plastic Ind. Co., Ltd. are among the prominent industrial hose manufacturers operational in Asia Pacific countries.

Key Findings of Market Study:

Industrial hoses are primarily used for transferring fluids such as water, chemicals, and oils in manufacturing industries. Lubrication, cooling, and mixing operations in manufacturing facilities require precise fluid handling. On the other hand, some processes require the movement of air or gases, which need specialized hoses designed for handling high pressures and temperatures. These abilities render high-pressure or high-temperature hoses suitable for several applications in pneumatic systems and hydraulic systems in the manufacturing sector. In automated manufacturing lines, industrial hoses are used to facilitate the movement of conveyor systems and robotic arms. In 2024, South Korea's investment in the industrial manufacturing sectors reached US$ 82 billion. South Korean companies have also raised their capital investment in the semiconductor and automobile sectors.

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com