US Hose & Belt Demand Bolstered by Transport Equipment, Machinery, Oil & Gas Sectors

7/22/2022

Cleveland, OH, July 22, 2022 — Demand for hoses and belts in the US is forecast to grow 4.6% yearly in nominal terms through 2026, according to Hoses & Belts: United States, a report recently released by Freedonia Focus Reports. Some demand growth will stem from the use of higher quality hoses and belts at a higher price point, particularly among the oil and gas, mining, and transportation equipment sectors. 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 2026, which will benefit suppliers of related hoses. However, the increased durability of hose and belt products will restrain further gains in the aftermarket.

US hose and belt shipments are projected to see gains of 2.9% per year through 2026. Increases in domestic demand, as well as rising exports to key destinations such as Mexico, will spur US shipments. Growth in shipments will also be driven by the construction and expansion of domestic manufacturing facilities.

These and other key insights are featured in Hoses & Belts: United States. This report forecasts to 2022 and 2026 US hose and belt demand and shipments in nominal US dollars at the manufacturer level. Total demand is segmented by product in terms of:

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

To illustrate historical trends, total demand and the various segments, total shipments; and trade are provided in annual series from 2011 to 2021. The number of US firms, establishments, and employment are provided in annual series from 2009-2019.

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 and trade figures.

More information about the report is available at:

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