Hydraulic Hoses Market Size, Share, Growth Analysis, By Type(Wire braided hydraulic hose and Spiral wire hydraulic hose), By Region - Industry Forecast 2024-2031

Global Hydraulic Hoses Market size was valued at USD 10.49 billion in 2022 and is poised to grow from USD 11.01 billion in 2023 to USD 16.27 billion by 2031, growing at a CAGR of 5% during the forecast period (2024-2031).

The majority of the population around the world works mostly in agriculture with industrialization which drives the market growth. Also, the increasing demand for food consumption has helped the agricultural sector to increase crop production, which has increased the demand for hydraulic hoses. The increase in the construction of green buildings has a significant impact on the hydraulic hose market. These hoses operate in critical environments that cause damage such as abrasion, tearing, and premature failure. For high-pressure transfers, hydraulic hoses are best suited and operate at pressures in the millions of psi. Hoses supply a wide range of applications, thus it is becoming an essential component for various industries.

The availability of substitutes, an increase in construction activity, and a significant need for hydraulic equipment all lead to market growth. However, high production and maintenance costs, as well as increased concerns about oil leaks, hamper market expansion.

US Hydraulic Hoses Market is poised to grow at a sustainable CAGR for the next forecast year.