Hydraulic Hose Market is driven by reliable hoses ensuring the safety of workers in the industrial sector – Market Trends & Business Updates – MENAFN.COM

SourceMENAFN
SectorEconomy
CountryMiddle east

(MENAFN – VMR News) According to the global Hydraulic Hose Market report published by Value Market Research, the rising demand for reliable hoses ensuring the safety of workers in the industrial sector by the prevention of hose leaks or bursts drives the growth of the market for hydraulic hoses. Hydraulic hoses have contributed a share of 34% with majority of the demand coming from an industrial sector which uses high-value premium hoses for power transmission and other purposes. Mining is another important outlet for hydraulic hose.

Mining industry accounts for over 18% share of the revenue generated by hydraulic hose. Growth of mining industry across the world especially in Asia Pacific, Latin America and Africa is expected to boost the demand for hydraulic hose industry in the years to come. However, less advancement in technology and the limited number of raw materials available coupled with less scope for product differentiation is likely to hamper the market growth of hydraulic hose....read more...