8:36 AM Oil & Marine Hoses Market Size to Grow US$ 224.8 million by 2025 |
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The oil & marine hoses market is expected to expand in-line with the increasing oil demand across the world along with growing investments towards oil & gas exploration and production by oil producers. The oil & marine hoses market is projected to grow at a healthy rate over the next five years to reach an estimated value of US$ 224.8 million in 2025. The oil & marine hoses market is mainly dependent on offshore oil & gas production and ongoing buoys projects.
The report offers detailed insights in relevant market segments, their growth rates, latest market trends, forecasts, and other important details. The market has been segmented in four ways and the report has more than 150 figures and tables providing the most comprehensive information about the market segments and their growth prospects for the forecast period of 2020-2025. Request a sample of the report here Based on the media type, the market is segmented as oil, LPG, water, and chemical. The dominance of oil can be seen in the market as oil is the most consumed energy type among all the primary energy sources, which accounted for around 34% share of global energy consumption. China and the USA are the largest consumers of oil in the world. Based on the carcass type, the market is segmented as single carcass and double carcass. The double carcass is likely to remain the most dominant and the faster-growing segment during the forecast period, owing to its anti-pollutant property and stringent regulation against spillage of oil in the sea, which affects the native flora and fauna. It has an additional carcass, which holds the fluid in case the primary carcass fails. View the Table of Contents here In terms of region, Latin America is projected to remain the largest market for oil & marine hoses during the forecast period. Brazil holds the largest share in the Latin American market as the country holds the largest fleet of FPSOs. Latin America has a rich oil reserve globally, with around 20% share of the global oil reserves located in the region. Petrobras, YPF S.A., Termap S.A., Oiltanking, Repsol S.A., Savia Perú, and EP Petroecuador are some of the major customers of oil & marine hoses in the Latin American region. Petrobras is the biggest oil producer in Brazil. Asia-Pacific is expected to witness the highest growth during the forecast period. China and South-East Asian countries are the growth engines of the Asia-Pacific’s oil & marine hoses market. These economies are continuously generating huge demand for oil & marine hoses owing to the fact that they are the largest consumers of oils in the world along with an increased focus in the offshore oil & gas production. The key economies of the region are continuously increasing their share in oil & gas production to meet the rising energy demand from industrial and consumer sectors. China accounts for almost half of the total oil & gas production in Asia-Pacific. Read the Full Report Description here The report further mentions about the key manufacturing players Continental AG, The Yokohama Rubber Co., Ltd., Trelleborg AB, Manuli Rubber Industries S.p.A., and Flexomarine S.A. who are emerging fast and their roles in the growing market. It also portraits the important mergers, acquisitions, and other current happenings in the oil and marine hoses market that can be helpful for the interested clients in analysing the market and taking right decisions accordingly. Salient Features of the Report The report on oil and marine hoses market is a well-researched work after analysing of various data from different reliable sources. The report included some of the salient features such as:
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