US Hose & Belt Demand to Rise 3.1% Annually in Nominal Terms to 2023

11/7/2019

Cleveland, OH, November 7, 2019 — Demand for hoses and belts in the US is forecast to increase 3.1% yearly in nominal terms through 2023, according to Hoses & Belts: United States, a report recently released by Freedonia Focus Reports. Gains will be supported by rising use of higher priced, higher quality hoses and belts, particularly among the oil and gas, mining, and transportation equipment sectors. However, the increased durability of these products will restrain faster advances.

Rising transportation equipment output will spur demand for vehicular hoses and nonflat belts. Increasing production of machinery will boost sales of industrial hose, fluid power hose, flat belts, and nonflat belts. Domestic oil and gas production is expected to rise through 2023, which will benefit suppliers of related hoses.

US hose and belt shipments are projected to grow 2.2% per year through 2023. Increases in domestic demand, including the construction and expansion of domestic manufacturing facilities, will spur US shipments, as will rising exports to key destinations such as Mexico.

These and other key insights are featured in Hoses & Belts: United States. This report forecasts to 2023 US hose and belt demand and shipments in nominal US dollars at the manufacturer level. Total demand is segmented by product in terms of:

  • flat belts
  • vehicular hose
  • industrial hose
  • nonflat belts
  • fluid power hose
  • air and water hose

To illustrate historical trends, total demand and the various segments; shipments; trade; and the number of US firms, establishments, and employment are provided in annual series from 2008 to 2018.

Hoses and belts may be constructed from rubber and plastic. Hose fittings are excluded from the scope of this report. Re-exports of hoses and belts are excluded from demand figures.

More information about the report is available at:

https://www.freedoniafocusreports.com/Hoses-Belts-United-States-FF50010/?progid=91541