According to a new market report published by Credence Research “Hydraulic Thermoplastic Hose and Couplings Market (Construction Equipment, Agricultural Equipment, Industrial and Material Handling, Lubrication Lines, Power and Telephone Mobile Equipment, and Other End-use Applications) – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 – 2022”, rising construction activities, increased industrial production, and agricultural process mechanization are expected to drive demand for hydraulic equipment, which, in turn is expected to boost thermoplastic hose and couplings market during the forecast period 2015 – 2022.
Browse the full Hydraulic Thermoplastic Hose and Couplings Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 – 2022 report at https://www.credenceresearch.com/report/hydraulic-thermoplastic-hose-and-couplings-market
The construction industry, especially in the developed economies witnessed a gradual slowdown and sluggish growth during the recent economic recession. However, the industry has shown signs of revival and is expected to gain the necessary traction, exhibiting steady growth over the forecast period 2015 – 2022. The major boost is expected to come from the ongoing infrastructural development in emerging economies of Asia Pacific and Rest of World (Latin America, Middle East and Africa). To promote infrastructural development and investment by private entities, governments across the globe are providing tax benefits for such activities, which, in turn is benefitting the construction industry and hence the hydraulic thermoplastic hose and couplings market. In addition, ever-increasing population and growing urbanization are other major factors supporting the economic development in developing economies. The resulting demand for industrial, commercial, and residential space has further triggered demand for construction equipment and thus hydraulic thermoplastic hose and couplings.
The demand for hydraulic thermoplastic hose and couplings is also expected to be driven by the increased demand from industrial and agricultural applications. Growing industrial automation resulting in increased industrial production is supporting the demand for industrial and material handling equipment, and hence thermoplastic hose and couplings. Furthermore, the need for maintenance of automated equipment at regular intervals is also expected to boost demand for thermoplastic hose and couplings in lubrication lines. Rising population and growing food consumption needs are expected to drive demand for agriculture machinery. In addition, the prevailing trend towards agricultural process mechanization coupled with the favorable government subsidies promoting use of automated equipment for agricultural processes is also expected to fuel market momentum. In order to promote farm mechanization, the governments of agrarian countries such as India and Brazil are focusing on augmenting the reach of these subsidies.