Global Specialty Hoses Market, Forecast to 2025: Analyzed by Media Type, Inner Core Material Type, Application Type, and Region - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Jan 29, 2020--
The “Specialty Hoses Market By Media Type, By Inner Core Material Type, By Application Type, By Region: Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity (2020-2025)” report has been added to ResearchAndMarkets.com’s offering.
The speciality hoses market is forecasted to grow at an impressive rate over the next five years to reach an estimated value of US$ 2.3 billion in 2025.
The key factors driving the market for speciality hoses are listed below:
Speciality Hoses with Nitrile Rubber Inner Core are Dominant
Based on the inner core type, the market is segmented into nitrile rubber, EPDM rubber, nylon, polyester, and others. Nitrile rubber is expected to remain the dominant and the fastest-growing segment of the market during the forecast period. Speciality hoses with nitrile rubber as inner core are predominantly used in applications such as LPG delivery; conveyance of refrigerant gases and refrigerant systems; and delivery of gasoline, diesel, kerosene, and other fuels, owing to their excellent flexibility, ease of handling, and excellent resistance from oils, acids, fuels, and abrasion.
In-plant Transfer - the Largest Application Area of Specialty Hoses
Based on application type, the speciality hoses market is segmented into in-plant transfer, LPG delivery, welding, drainage service, hydraulic service, firefighting, and others. The in-plant transfer is expected to remain the dominant application of the market during the forecast period, whereas LPG delivery is expected to be the fastest-growing segment during the same period. In-plant transfer application majorly includes conveyance of oil, chemical, refrigerant gas, hot and cold water, slurries, and bitumen.
Asia-Pacific - the Largest Market, China - the Global Leader
In terms of region, Asia-Pacific is projected to remain the largest market for speciality hoses during the forecast period. Increasing chemical production and rising LPG demand are fuelling the growth of the speciality hoses market in the region. China and India are the growth engine of the region’s market. China is one of the largest producers of chemicals and petrochemicals across the world. China and India are also the largest importers of oil and fuel in the region. All these factors are contributing to the dominance of the region in the speciality hoses market.
China is the largest market for speciality hoses in the world, owing to the huge demand from its industrial and manufacturing sectors. This factor has led to the increased focus of industry players towards strengthening their roots in the region. For example; Continental AG has opened a new hose facility in China to meet the demand from the Chinese automotive industry. The company is also planning to build an R&D centre at the facility dedicated to hose products only.
North America is projected to remain the second-largest market for speciality hoses during the forecast period. The USA is the growth engine of the region’s market, driven by large-scale production of oil and gas to meet the energy requirement of its industrial sector. Increasing shale gas activities in the USA and rising oil & fuel demand in Mexico and Canada are the major factors, driving the growth of the speciality hoses market in the region.
The supply chain of this market comprises of raw material suppliers, speciality hoses manufacturers, distributors, and end-users. The key players in the speciality hoses market are Eaton Corporation Plc, Parker-Hannifin Corporation, Continental AG, Alfagomma Spa, Polyhose India Pvt. Ltd., The Weir Group Plc, Baili Hose Co., Ltd., Diebolt & Company, Apache Inc., and Newage Industries, Inc. The development of lightweight, flexible, and durable speciality hoses; expansion in untapped and growing markets; and execution of mergers & acquisitions are the key strategies adopted by the major players to gain a competitive edge in the market.
This strategic assessment report provides a comprehensive analysis that reflects today’s speciality hoses market realities as well as future possibilities for the forecast period of 2020 to 2025. After conducting a detailed study on composite hoses market and aerospace and defence hose and tube assemblies market, we have further expanded our research scope to speciality hoses market, another high-growth product in the hose family. The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of low-hanging fruits available as well as formulate growth strategies.
This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market.
The following are the key features of the report:
The speciality hoses market is segmented into the following categories:
Specialty Hoses Market, By Media Type:
Specialty Hoses Market, By Inner Core Material Type:
Specialty Hoses Market, By Application Type:
Specialty Hoses Market, By Region:
For more information about this report visit https://www.researchandmarkets.com/r/b4katl
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SOURCE: Research and Markets
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PUB: 01/29/2020 04:43 AM/DISC: 01/29/2020 04:43 AM