The Indian hydraulic hose market is projected to grow at a CAGR of 6.8% during the forecast period (2020-2026). The rising demand for hydraulic hose in the agriculture industry coupled with the rising demand for advanced equipment in the Indian agriculture industry is further projected to drive the market during the forecast period. The increasing adoption of advanced agricultural equipment and methods is expected to pave more and more companies to invest and innovate comprehensively. India is an agriculture-based country with approximately 75% of the population is reliant on farming, directly or indirectly. Farmers in India have been using traditional equipment and methods for ages.
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The primary factors contributing to the growth of the agriculture industry include rapid industrialization, increasing investment in the overall agriculture industry. In order to meet the food requirement of the growing population, rapid industrialization and modernization of agriculture are inescapable. Mechanization conserves the input through accuracy in metering to ensure better distribution while reducing the quantity required for better response and also prevents losses and wastages. It also reduces the cost of production per unit through input conservation and higher productivity. Therefore, the growing production in the Indian agriculture industry further raises the demand for the hydraulic hose for various purposes that further projected to provide ample opportunity to the market
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Indian hydraulic hose Market – Segmentation
By Product Type
- Articulated
- Reinforced
- Coiled
- Other (Corrugated)
By Industry
- Agriculture
- Construction & Mining
- Manufacturing
- Others (Pharmaceuticals)
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
