Hose Testing Services Market Scope
A hose is a flexible, reinforced tube used for conveying liquids, solids, and gases. A typical industrial hose is dragged, coiled, run over, kinked, and subjected to all kinds of wear and tear as well as abuse. As the demand for the hose increasing, the hose testing demand also grows. Hose testing is very essential, and it can prevent major accidents in the serval industries. This has projected the significant growth of the global hose testing services market in the forecast period.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Smithers (United States), Waterway Inc (United States), DiVal Safety Equipment, Inc. (United States), Goodflex Rubber Company (United Kingdom), Fire & Safety Equipment Company (United States), National Hose Testing Specialties, Inc. (United States), FireCatt (United States), Fail Safe (United States), Element Materials Technology (United Kingdom) and HCD Flow Technology (New Zealand) |
CAGR | 8.3% |
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Research Analyst at AMA estimates that Global Players will contribute to the maximum growth of Global Hose Testing Services market throughout the predicted period.
Smithers (United States), Waterway Inc (United States), DiVal Safety Equipment, Inc. (United States), Goodflex Rubber Company (United Kingdom), Fire & Safety Equipment Company (United States), National Hose Testing Specialties, Inc. (United States), FireCatt (United States), Fail Safe (United States), Element Materials Technology (United Kingdom) and HCD Flow Technology (New Zealand) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Buckley Industrial (United Kingdom), Axcess Hose (United States), Fendercare Marine (United Kingdom) and AmSpec LLC (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Hose Testing Services market by Type , by Application (OEMs and Aftermarket) and Region with country level break-up.
On the basis of geography, the market of Hose Testing Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In December 2023, Red Deer Emergency Services and Red Deer Polytechnic have partnered to provide third-party testing of the Firefighter Applicant Physical Test, which is a critical requirement all aspiring Firemedics must successfully pass before getting hired. With this new initiative, individuals aspiring to join Emergency Services Firemedic team can now complete the rigorous testing locally, simplifying the interview process. Previously, applicants had to go to the University of Alberta to complete onsite physical testing.
In June 2023, he International Organization for Standardization (ISO) launched ISO 4484-3; Microplastics from textile sources. Measurement of collected material mass released from textile end products by domestic washing method. It provides a standardized method for the measurement of material mass released from textile end products during washing, when washed in accordance with an ISO 3758 care label, or a country’s own care label system.
Influencing Trend:
Rising Demand for Hydrostatic Testing
Market Growth Drivers:
Increasing Demand for Robust Industrial Hoses for Critical Applications in Various Industries and Growing infrastructure-related Developments
Challenges:
Lack of Awareness About Regular Maintenance
Restraints:
Shortage of Technical Expertise for Hose Testing Services
Opportunities:
Increasing Demand for Automobiles Worldwide
Key Target Audience
Hose Testing Services Providers, Research Organizations and Consulting Companies, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors, End Users and Others