From transferring high-temperature liquids to carrying gases to different locations, hoses are in high demand from different industrial sectors, including mining, oil and gas, and agriculture.
Despite the significant fall in crude oil prices and the rising awareness about greenhouse emissions, the recent decline in the prices of rubber and plastic resins that are the major sources for hoses is anticipated to result in the reduction in prices and will subsequently drive the growth of the global hoses market. Additionally, factors such as the constantly increasing demand for power, the growth of the construction industry across the globe, and the introduction of stringent safety guidelines for various industrial sectors will also spur the demand for hoses, especially in regions such as the Asia-Pacific and Africa.
However, with a number of manufacturers constantly focusing on innovating their product offerings and acquiring other vendors to enhance their customer base, the market space for hoses is highly-competitive, which greatly reduces the manufacturer’s revenue shares. Employing analysts with significant experience in conducting both qualitative and quantitative projects, Infiniti helps clients in the industrial manufacturing sector identify new potential opportunities for growth and also deduce strategies to enter new markets. Additionally, by analyzing recent technological trends, our market intelligence study helps clients stay informed on advanced technologies that would have a significant impact on their product lines.
The Business Challenge
To better understand the market dynamics and growth opportunities for hoses, the client – one of the leading manufacturers of industrial rubber and plastic products – approached Infiniti to engage in a market intelligence study that would help them understand the future growth prospects of the market space for hoses. The scope of this market intelligence engagement was to offer strategic insights that would help the client gain a clear understanding of the major factors influencing and challenging the market’s growth, technological advancements, key competitors and customer segments, and the growth of the market across various geographical regions.
The primary objective of this market intelligence engagement was to help the global manufacturer of medical and protective gloves, hoses, rubber sheeting, conveyor belts, and molded rubber products gain actionable insights, which would help them better understand the future market space for hoses across the globe. Moreover, this market intelligence study also helped the client understand the growth strategies such as product innovations and acquisitions followed by the major competitors and their presence across different geographies.
To understand the growth of the industry in the short and long term, Infiniti’s market intelligence experts have gathered information on the recent developments and innovative products introduced in the market by established players. Additionally, our experts also reached out to industry experts, key end-users, and procurement experts to understand their views on the market’s growth potential.
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Solution Offered and Impact
By following a proven approach of acquiring information through primary and secondary research techniques, Infiniti’s market intelligence experts offered the client a comprehensive analysis of the current market scenario and the future growth prospects of the global hoses market. Furthermore, this engagement also helped the client gain insights on the market’s growth prospects and challenges across different regions and the demand for hoses from the original equipment manufacturers (OEMs) and the after-service market (ASM) segments. In addition, this market intelligence study also helped the client identify the major distributors and suppliers of hydraulic and industrial hoses across the major geographical regions such as North America, South America, APAC, and EMEA.
In just a few weeks, the client – one of the leading manufacturers of industrial and hydraulic hoses for various industrial segments including oil and gas, mining, and food and beverage sectors and also for specific applications – was able to gain a clear understanding of the market’s growth prospects. With a detailed analysis of the recent trends that drive the growth of the major end-user industries, this market intelligence study also helped the client identify the key factors influencing growth across target regions.
To assess the challenges specific to the industrial manufacturing industry, Infiniti’s market intelligence experts have developed an extensive proprietary database that consists of information on more than two million industry experts, key opinion leaders, end-users, and distribution channels.
Benefits of Our Integrated Approach
In just a few weeks, our market intelligence study helped the client gain numerous benefits in terms of identifying new growth opportunities and understanding the growth strategies followed by market-leading companies. Additionally, our solution also helped the client identify the key suppliers and distributors across the major geographical regions.
Here are some of the key points appreciated by our clients:
- Dedicated Market Intelligence Portal. A centralized platform for the collection, storing, processing, reporting, and dissemination of information with the specific purpose of assisting the decision-making process and developing actionable insights. This portal includes comprehensive information on quantitative and qualitative aspects on target markets, competitors and end-users.
- Collaborative learning. We leveraged experience of our healthcare team and our technical capabilities to enable report-sharing and other collaborative features appreciated by client teams.
- Database Access. Access to a patient database containing information about 60+ medical diseases and conditions, such as patient undergoing treatment, untreated patients, and patients with chronic conditions.
- Interactive Dashboard. Using our market assessment portal based solution for healthcare professionals, we took a design-first approach to problem-solving and helped break through previously held assertions.
- Value for Money. Infiniti’s dedicated client management team customizes reports to suit business requirements and offers the best insights for every dollar spent.
A must-read market intelligence case study for strategy experts and decision makers looking to develop effective market entry strategies for the hoses market.