Market Forecast By Material (Natural Rubber, Nitrile Rubber, PVC, Silicone, Polyurethane, Others (EPDM, UPE)), By Media Type (Water, Oil, Hot Water and Steam, Air and Gas, Food and Beverage, Chemical), By Industry (Automotive, Infrastructure, Oil & Gas, Pharmaceuticals, Food & Beverages, Water & Wastewater, Others) And Competitive Landscape
Product Code: ETC359664 | Publication Date: Aug 2023 | Updated Date: May 2024 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 | |
India Industrial Hose market currently, in 2023, has witnessed an HHI of 1410, Which has increased slightly as compared to the HHI of 1140 in 2017. The market is moving towards highly competitive. Herfindahl index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means fewer numbers of players or countries exporting in the market.
In the year 2021, China was the largest exporter in terms of value, followed by Korea. It has registered a growth of 115.15% over the previous year. While Korea registered a growth of 37.18% as compared to the previous year. In the year 2017, China was the largest exporter followed by Japan. In terms of the Herfindahl Index, which measures the competitiveness of countries exporting, India has a Herfindahl index of 1140 in 2017 which signifies high competitiveness also in 2021 it registered a Herfindahl index of 1506 which signifies moderately concentrated in the market.
India Industrial Hose Market report thoroughly covers the market by material, by media type, and by industry. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
India Industrial Hose Market is rapidly growing and encompasses a wide range of industries. These hoses are being used for various applications such as transferring liquids, gases, abrasive materials from one point to another. With the rise in industrialization and infrastructure development across the country, there has been an increasing demand for high-quality and durable industrial hoses. This growth is also being driven by advancements in technology which have enabled more efficient hose manufacturing processes resulting in innovative products with improved performance capabilities. The industry is also witnessing a shift towards eco-friendly solutions that are sustainable for both humans and the environment.
According to 6Wresearch, the India Industrial Hose Market is expected to grow at a rapid pace during the forecast period 2023-2029. The India Industrial Hose Market has been witnessing significant growth over the years. The key market drivers propelling growth in this market include increasing demand from various industries and government initiatives. The trend towards innovative products with advanced features is also driving market expansion. However, rising raw material prices and intense competition in the market may hinder the India Industrial Hose Market Growth to some extent. Despite these challenges, opportunities for further development of industrial hoses in India remain strong due to new product launches and expanding distribution networks.
The global COVID-19 pandemic has had a significant impact on the India Industrial Hose market share. With the nationwide lockdowns and factory shutdowns, the demand for industrial hoses declined drastically in during the pandemic. However, as industries gradually revived following relaxations in lockdown regulations, there has been an increase in demand for industrial hoses in the Asia Pacific Industrial Hose Market. In addition to traditional industries such as oil & gas and construction sectors, newer applications have emerged with an increasing focus on renewable energy projects like solar power plants.
The India Industrial Hose Industry is highly competitive with the presence of significant players. These key players are continuously striving to expand their customer base by adopting various strategies.
According to Nikhil, Senior Research Analyst, 6Wresearch, the Automotive industry segment use hoses in automotive applications, including coolant hoses and brake hoses. The infrastructure industry uses hoses in construction, mining, and infrastructure projects.
The report offers a comprehensive study of the subsequent market segments: