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Oil hoses are flexible, hollow tubes that are intended to carry fluids or oils from one point to another. The hoses are cylindrical in shape. Mostly, PVC, natural rubber, nylon, polyurethane, polyethylene and metals like steel are used to make hoses. In Oil industry, the hoses used are high pressure hoses and are employed to move the fluids under high pressure. They are also used to load crude oils and petroleum products from offshore industrial sites to the vessels in storage facilities and vice versa. They are used in the remote areas of production for oil conveyance.
The substantial increase in the demand for oil and petroleum from all over the world as one of the primary energy sources is expected to drive the market for oil hoses. Additionally, the various types of hoses made up from different materials depending upon the applications are proving to be one of the convenient ways of transportation, which is likely to impact the market positively.
However, growth of the oil hose market is expected to limit due to the technological advancements in the transportation techniques which can turn out to be more convenient and cost-effective.
Key Market Driver -
Increasing demand for oil and petroleum
Key Market Restraint -
technological advancements in transportation techniques.
Based on type, the market is segmented into plastic hose, rubber hose, steel hose and other. Based on application, the market is segmented into chemical, pharmaceuticals, automotive, petroleum, and others.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The global oil hose market consists of global & regional players operating. Some of the key players in the market include Saint-Gobain Performance Plastics, Parker Hannifin, Codan Rubber, Jinyuan Rubber, ContiTech Group, Trelleborg Industrial Hose, and Others.
The market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Latin America is the largest market for oil hoses attributed to the largest oil reserves in countries like Venezuela and Brazil. Middle East and Africa has the second largest market for oil hose due to the petroleum and oil reserves in countries like Saudi Arabia, Iran, Iraq, Kuwait, and UAE. Asia is expected to show highest growth in the forecast period attributed to the high demand for oil from Asian countries. China ranks second in the total oil consumption. North America is estimated to show significant growth. Europe is expected to show considerable growth by the end of the forecast period.
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