Stratview Research in its recent report has offered an overlook of the current Specialty Hoses Market scenarios and has also estimated the Specialty Hoses Market size to reach an estimated value of US$ 2.3 billion by 2025. The insights highlighted in the report are based on data that is carefully collected from reliable sources and is then scrutinized to have a proper analysis.
Not only the report offers the market size but also details about the market segmentation with its share. Stratview Research also extends its research to offer a forecast of the market during the period of 2020-2025, to provide the clients with base knowledge of the market and make strategies to have beneficial results ahead.
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On the basis of media type, the specialty hoses market is segmented into chemical, gas, oil, water, and others. The chemical segment is likely to remain the growth engine of the market during the forecast period. Expansion of chemical industry in terms of production, technological advancement; increasing penetration of specialty chemicals in paints, coatings, and additives; and development of new applications are the major factors driving the market for specialty hoses in the chemical segment.
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. Specialty 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.
On the basis of application type, the specialty 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.
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In terms of region, Asia-Pacific is projected to remain the largest market for specialty hoses during the forecast period. Increasing chemical production and rising LPG demand are fuelling the growth of the specialty 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 specialty hoses market.
China is the largest market for specialty 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 center at the facility dedicated to hose products only.
North America is projected to remain the second-largest market for specialty 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 specialty hoses market in the region.
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Highlights of the Report:
The specialty 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 specialty hoses are listed below.
- Organic growth of the steel and chemical industries along with expected expansion of the automobile sector.
- Excellent heat- and abrasion-resistant properties of specialty hoses make them a suitable claimant for the conveyance of aggressive chemicals and hot oil products.
- Rapidly expanding industrial sector in the emerging economies is providing new avenues for the players in the specialty hoses market.
- An ongoing transformation of the industrial sector from conventional sources of energy, such as coal to LPG and natural gas, is further likely to boost the demand for specialty hoses.
The supply chain of this market comprises of raw material suppliers, specialty hoses manufacturers, distributors, and end-users. The key players in the specialty 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 specialty 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.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Specialty Hoses Market analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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