The US market for pneumatic and hydraulic hoses reported steady growth from 2016 onwards, rebounding from a decline between 2013-2016. The sales value increased consistently, reaching $595.34 million in 2023. Year-on-year variation averaged around 1.8% over the last two years, reflecting a stable growth trend. The Compound Annual Growth Rate (CAGR) over the past five years stood at approximately 1.9%, indicating a gradual and consistent increase in market value.
From 2024 onwards, market forecasts predict continued growth, with an expected CAGR of 1.23% over the next five years and a total growth rate of 6.32% by 2028. This indicates a steady, albeit modest, uptick in sales.
Future Trends to Watch:
- Industrial growth and automation driving demand for high-efficiency pneumatic and hydraulic systems.
- Technological advancements in hose materials and durability.
- Sustainability trends emphasizing eco-friendly and energy-efficient solutions.
