The increasing demand for oil and petroleum is expected to foster healthy growth of the oil hose market, states Fortune Business Insights, in a report, titled “Oil Hose Market Size, Share & Industry Analysis, By Type (Plastic Hose, Rubber Hose, Steel Hose, Others), By Application (Chemical, Pharmaceutical, Automobile, Petroleum, Others) and Regional Forecast 2021-2028.”
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The oil hose market accentuates a profound study of the industry while shedding light on vital facts and figures. It also offers insightful data about dominant regions, policies adopted by governments and companies. Besides, providing a brief overview of the market with future insights. The report also encompasses critical factors exhibiting growth. Also, COVID-19 impact is also covered in the report
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Fortune Business Insights™ lists out a few of the renowned companies present in the oil hose market. They are as follows:
- Saint-Gobain Performance Plastics
- Parker Hannifin
- Codan Rubber
- Jinyuan Rubber
- ContiTech Group
- Trelleborg Industrial Hose
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Agreement between Trelleborg Industrial Hoses and Wellcall Holdings to Enable Growth
The increasing collaborations and agreements between key companies can have an excellent effect on the global market. For instance, in January 2019, Trelleborg industrial hoses entered a joint venture with Wellcall Holdings, a Malaysian manufacturer of hoses, to manufacture and sell hoses in the local market and further strengthen its position. The surging demand for oil and petroleum around the world is expected to drive the need for oil hoses. Moreover, the hoses made from different materials depending upon the applications prove to be one of the convenient ways of transportation, which is likely to boost the market. Oil hoses are flexible, and hollow tubes are intended to carry fluids or oils from one point to another. The hoses are cylindrical in shape. PVC, natural rubber, nylon, polyurethane, polyethylene, and metals like steel are used to make hoses. In the 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. However, technological advancements in transportation techniques and inclination towards other alternatives can subsequently hamper the market’s growth.
- Plastic Hose
- Rubber Hose
- Steel Hose
- North America (U.S., and Canada)
- Europe (UK, Germany, France, Italy, and Rest of Europe)
- Asia Pacific (Japan, China, India, South Korea, and Rest of Asia Pacific)
- Latin America (Mexico, Brazil, Argentina, and Rest of Latin America)
- Middle East & Africa (Saudi Arabia, UAE, South Africa, and Rest of Middle East & Africa)
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Key Questions Answered:
- What are the key demands and trends shaping the market?
- What are the key opportunities in the market?
- What are the key companies operating in the market?
- Which company accounted for the highest market share?
- What is the market size and growth rate of the global and regional market by various segments?
- What is the market size and growth rate of the market for selective countries?
- Which region or sub-segment is expected to drive the market in the forecast period?
- What Factors are estimated to drive and restrain the market growth?
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Heavy Demand for Oil to Augment Growth in Asia Pacific
Geographically, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Latin America is the largest oil hose market attributed to the largest oil reserves in countries like Venezuela and Brazil. The Middle East and Africa is expected to hold the second-largest share in the global market for oil hose due to the petroleum and oil reserves in countries like Saudi Arabia, Iran, Iraq, Kuwait, and UAE. Asia Pacific is expected to hold the highest share during the forecast period due to the high demand for oil from Asian countries. China ranks second in total oil consumption. North America is expected to exhibit significant growth owing to the growing oil and gas industry. Europe is expected to experience considerable growth due to the increasing exploration activities in the region.
June 2018: Saint Gobain introduced Versilon, a fluoropolymer hose reinforced with steel designed to meet fluid application demand.
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