Albany, NY -- (SBWIRE) -- 01/19/2016 -- A hydraulic hose is a high-pressure tube designed to transport fluids within any hydraulic machinery, in order to transfer force. Considering the high pressures and temperatures involved in hydraulic applications, selection of the right material for manufacturing hydraulic hoses is crucial. Therefore, superior characteristics including high abrasion resistance, low weight, high flexibility, and the ability to handle high pressure have ensured the growing adoption of thermoplastic hose in hydraulic applications.

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With the economies like North America and Europe recovering from the economic recession, the construction industry across the globe is expected to witness rise in investment in both residential and commercial constructions. This in turn, is expected to stimulate the demand for construction equipment and hence hydraulic thermoplastic hose and couplings. Furthermore, demand for agriculture equipment, especially in agrarian economies such as India and Brazil is expected to have positive impact on the market growth. However, high maintenance cost is the major challenge inhibiting the market growth. Use of advanced thermoplastic composites such as fiberglass and fluoropolymers for manufacturing hoses with high tensile strength, low conductivity, high chemical resistance, and low weight provides a sound opportunity for better market penetration.

Asia Pacific was the largest hydraulic thermoplastic hose and couplings market, accounting for 39.4% of the market revenue in 2013. Over the forecast period 2014 - 2022, it is expected to remain the dominant market owing to increased investment in infrastructural development and growing demand for mechanization of agricultural processes in the region. Recording sluggish growth in the recent past, the demand for hydraulic thermoplastic hose and couplings in developed economies, especially the U.S., is expected to gain traction in the first half of the forecast period.

Construction equipment is expected to remain the largest application segment as well as the fastest growing segment throughout the forecast period. This growth can be credited to the growing construction equipment market across the globe. Regular maintenance being crucial to all automated equipment, the use of thermoplastic hose and coupling in lubrication lines is expected to witness robust growth across all the end-use verticals. Hydraulic couplings valued at US$ 64.0 Mn in 2013 are expected to witness comparatively higher growth rate than hydraulic thermoplastic hose owing to greater replacement demand.

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Major industry participants include Parker Hannifin Corporation, Gates Corporation, Eaton Corporation Plc, Manuli Rubber Industries S.p.A, Nitta Corporation, RYCO Hydraulics Pty Ltd., Polyhose India Pvt. Ltd., Kurt Manufacturing Co., Inc., NRP Jones, Transfer Oil S.p.A., Dyna Flex, Inc., MAC Tubi S.p.A, ZEC S.p.A., and Piranha Hose Products, Inc. among others.

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