New York, Sept. 18, 2023 (GLOBE NEWSWIRE) -- The global Metal Hoses Market is expected to witness significant growth at a CAGR of 4.3% during the forecast period of 2023-2030. Factors such as the increasing usage in the oil & gas industry and increasing demand for leak-free systems in chemical, petroleum industry, power generation industries, and others are accelerating the demand for metal hoses, which, in turn, is benefiting the market growth. In addition, the rising development of a new range of metal hoses product categories will further boost the market growth during the forecast period.
According to a recent report by Consegic Business Intelligence, the metal hoses market is poised for strong expansion and is expected to reach USD 4,499.75 Million by 2030. The market, which was valued at USD 3,217.61 Million in 2022, is predicted to grow at a compound annual growth rate of 4.3% during the period 2023-2030. The report highlights the increasing adoption of metal hoses for transporting diverse types of fuel in various applications, which is proliferating global market growth. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the metal hoses market.
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Metal hoses is a type of flexible tube made from metal materials such as stainless steel, bronze, or other alloys. There are two types of metal hoses commercialized in the market such as strip wound hose, and corrugated hose. Metal hoses give flexibility and allow them to absorb vibration, moments, and thermal expansion in piping systems.
Metal hoses are used in various industries such as the petroleum industry, chemical industry, food industry, and chemical industry. Metal hoses are used in wide applications that require flexibility, durability, and resistance to extreme conditions such as steam piping systems, fuel delivery lines, high pressure lubrication lines, oil patches, and offshore. They are typically fitted with end connections, such as flanges or threaded fittings in order to facilitate installation and connection to the piping systems.
Global Metal Hoses Market: Report Attributes
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 (USD Million) | USD 4,499.75 Million |
| CAGR (2023-2030) | 4.3% |
| By Product Type | Strip Wound Hose, Corrugated Hose |
| By Application | Steam Piping Systems, Fuel Delivery Lines, High Pressure Lubrication Lines, Oil Patch and Offshore |
| By End-Use Industry | Chemical Industry, Petroleum Industry, Food Industry, Agricultural Industry, Others |
| Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more. |
| By Region | North America, Asia-Pacific, Latin America, Europe, Middle East & Africa |
| Key Players | Hose Master LLC, BOA Holding GmbH, American Boa, Kuri Tec Corporation, Unisource Manufacturing, 4-STAR Hose and Supply, International Metal Hose Company, Parker NA, Polyhose India Pvt Ltd, AEROFLEX |
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Global Metal Hoses Market Segmentation Details:
Based on Product Type, in 2022, the corrugated hose segment accounted for the highest market share in the overall metal hoses market. Corrugated hoses are lightweight and flexible. They have good resistance to chemicals, weathering, and abrasion. These hoses are commonly used in irrigations, drainage systems, and common plumbing applications. Furthermore, the above benefits associated with corrugated hoses are marking the hoses suitable for a wider range of applications, thereby driving the metal hoses market.
Based on Application, the fuel delivery lines segment accounted for the highest market share of 27.50% in the overall metal hoses market. Metal hoses are widely used in fuel delivery lines for various industries automotive, aviation, and marine. They are used to transport different types of fuel such as gasoline, diesel, and aviation fuel, from storage tanks or fueling stations to engines or power systems. Metal hoses provide flexibility, durability, and resistance to fuel related challenges, including pressure, temperature, and chemical compatibility. Furthermore, specific designs and specifications of metal hoses may be required to meet the unique demands of the systems due to which the fuel delivery lines segment is likely to drive the growth of the market.
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Based on End-Use Industry, in 2022, petroleum industry segment accounted for the highest market share in the overall metal hoses market. The petroleum industry is the major consumer of metal hoses due to the demanding nature of its applications. Metal hoses provide excellent resistance to high temperatures, thereby effectively transporting hot liquids and gases without any compromises in safety. Additionally, it is ideal to use in handling hazardous materials such as liquefied natural gas (LNG) and liquefied petroleum gas (LPG). However, metal hoses can withstand extreme conditions encountered in refining and petrochemical processes. Due to this, the use of metal hoses is increasing in the petroleum industry in the market.
Based on Region, in the year 2022, Asia Pacific accounted for the highest market share at 38.11% and was valued at USD 1,226.23 million and is expected to reach USD 1,726.10 million in 2030. This is attributed to the rapid industrialization and infrastructure development in countries such as China and India. The expanding manufacturing sector, coupled with increasing investment in energy and utilities, will boost the demand for metal hoses in the region. Furthermore, North America is expected to witness the fastest CAGR during 2023-2030. This is due to the presence of several key industries such as oil and gas, automotive, aerospace, and chemicals. The region has strict regulations for safety and performance standards which drive the demand for metal hoses in critical applications.
Key Market Takeaways
- Asia Pacific accounted for the highest market share at 38.11% and was valued at USD 1,226.23 million in 2022 and is expected to reach USD 1,726.10 million in 2030. Moreover, in Asia Pacific, China accounted for the highest market share of 25.25% during the base year of 2022.
- Based on product type, the corrugated hose segment accounted for the highest share contribution to the metal hoses market statistics in 2022.
- In the context of application, the fuel delivery lines segment is expected to contribute significant shares to the growth of metal hoses market statistics during the forecast period.
- By end-use industry, the petroleum Industry segment is anticipated to contribute the largest shares to the market growth in 2022.
- North America is expected to boost the market demand for metal hoses with the highest CAGR due to the presence of several key industries such as oil and gas, automotive, aerospace, and chemicals. The region has strict regulations for safety and performance standards.
Competitive Landscape
Hose Master LLC, BOA Holding GmbH, American Boa, Kuri Tec Corporation, Unisource Manufacturing, 4-STAR Hose and Supply, and others are major market players that comprise the latest market circumstances. These companies are substantially leveraging their technologies for the development of a new range of metal hoses. Further, the metal hoses market is expected to grow steadily due to rising innovation, product diversification, and meeting the evolving needs of different industries, especially in regions such as Asia Pacific, North America, and Europe regions are estimated to boost the market statistics in the forecast years. Additionally, the trend toward increasing the development of new product portfolios will boost the demand for metal hoses in the upcoming years, thereby anticipating increasing competition in the market.
Recent Developments
- In January 2020, Universal Metal Hose announced the acquisition of the metal hose line from American BOA, Inc. effective January 13, 2020. The acquisition helps the company to enhance its product portfolio.
- In June 2021, Hose Master LLC has been investing in research and development to improve its product offerings. They have introduced advanced manufacturing process and materials to enhance the performance and durability of their metal hoses.
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List of Major Global Metal Hoses Market:
- Hose Master LLC
- BOA Holding GmbH
- American Boa
- Kuri Tec Corporation
- Unisource Manufacturing
- 4-STAR Hose and Supply
- International Metal Hose Company
- Parker NA
- Polyhose India Pvt Ltd
- AEROFLEX
Global Metal Hoses Market Segmentation:
- By Product Type
- Strip Wound Hose
- Corrugated Hose
- By Application
- Steam Piping Systems
- Fuel Delivery Lines
- High Pressure Lubrication Lines
- Oil Patch and Offshore
- By End-Use Industry
- Chemical Industry
- Petroleum Industry
- Food Industry
- Agricultural Industry
- Others
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Frequently Asked Questions in the Metal Hoses Market Report
- What was the market size of the metal hoses industry in 2022?
- In 2022, the market size of metal hoses was USD 3,217.61 million
- What will be the potential market valuation for the metal hoses industry by 2030?
- In 2030, the market size of metal hoses will be expected to reach USD 4,499.75 million.
- What are the key factors driving the growth of the metal hoses market?
- Rising demand for oil and gas industry and increasing demand for leak-free systems is driving the global metal hoses market growth.
- What is the dominating segment in the metal hoses market by product type?
- In 2022, the fuel delivery lines segment accounted for the highest market share of 27.50% in the overall Metal Hoses market.
- Based on current market trends and future predictions, which geographical region is the dominating region in the metal hoses market?
- Asia Pacific accounted for the highest market share in the overall metal hoses market.
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