Hose & Belt Manufacturing in Canada - Industry Market Research Report

Hosing Around: the Expected Depreciation of the Canadian Dollar is Likely to Drive Export Growth

The industry produces a range of products, including automotive V-belts, hydraulic hoses and belts for conveyors, which it then sells to on- and off-highway vehicle makers, other manufacturers and heavy industry enterprises, like mining companies. This industry depends on Canadian manufacturing activity and industrial output. Also, a high level of trade characterizes the industry, with exports estimated to account for more than 50.0% of revenue and imports accounting for more than 80.0% of domestic demand in 2023. Despite difficulties for the industry during the pandemic, the industry has slowly recovered, including a 1.0% increase in 2023, where profit rebounds to 10.8%. As a result, the industry will dip at an expected CAGR of 2.9% to $574.3 million through 2023. Companies in this industry manufacture a range of plastic and rubber hoses and belts, including garden hoses. These products are then sold to manufacturers, coal, oil and gas industries and the automotive market. The industry includes manufacturing of plastic tubing, rubber tubing and fluid power hose assemblies. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.