Dublin, July 24, 2024 (GLOBE NEWSWIRE) -- The "Cryogenic Hoses - Global Strategic Business Report" has been added to ResearchAndMarkets.com's offering.
The global market for Cryogenic Hoses was valued at an estimated US$971.2 Million in 2023 and is projected to reach US$1.7 Billion by 2030, growing at a CAGR of 8.7% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth in the cryogenic hoses market is driven by several factors, including increasing demand for liquefied natural gas (LNG), advancements in healthcare, and the expansion of the aerospace industry. The rising adoption of LNG as a cleaner alternative to traditional fossil fuels has led to a greater need for efficient cryogenic transportation and storage solutions, propelling the demand for high-performance hoses. In the healthcare sector, the use of cryogenic gases for medical applications such as cryosurgery and cryopreservation is expanding, further boosting market growth.
Additionally, the aerospace industry`s ongoing advancements require reliable cryogenic equipment for rocket propulsion systems and other space exploration technologies. The push towards energy-efficient and environmentally friendly industrial processes also supports the adoption of advanced cryogenic hoses. As these trends continue to evolve, the cryogenic hoses market is expected to experience significant growth, driven by technological innovations and increasing application diversity.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Chemical & Petrochemical End-Use segment, which is expected to reach US$744.4 Million by 2030 with a CAGR of a 10.0%. The Metallurgy End-Use segment is also set to grow at 7.6% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $264.6 Million in 2023, and China, forecasted to grow at an impressive 12.2% CAGR to reach $366.3 Million by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Key Questions Answered:
- How is the Global Cryogenic Hoses Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Abhijit Enterprises, Aero-Flex Corp., Pacific Hoseflex, and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Select Competitors Featured:
- Abhijit Enterprises
- Aero-Flex Corp.
- Pacific Hoseflex
- Penflex Corporation
- Plantinflex Flexible Solutions
- SS Flexhose (India) Pvt. Ltd.
- Unisource Manufacturing Inc.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 191 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $971.2 Million |
| Forecasted Market Value (USD) by 2030 | $1700 Million |
| Compound Annual Growth Rate | 8.7% |
| Regions Covered | Global |
Key Topics Covered:
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of COVID-19 and a Looming Global Recession
- Cryogenic Hoses - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Increasing Demand for LNG and Cryogenic Liquids Spurs Market Growth
- Technological Innovations in Cryogenic Hose Materials Propel Industry Growth
- Expansion of Cryogenic Applications in Healthcare Drives Market Adoption
- Rising Investments in Space Exploration Projects Generate Demand for Cryogenic Hoses
- Advances in Flexible and High-Performance Cryogenic Hoses Spur Market Growth
- Stringent Safety Regulations in Cryogenic Handling Drive Adoption of Advanced Hoses
- Increasing Industrialization in Emerging Economies Expands Market Opportunities
- Development of Lightweight and Insulated Cryogenic Hoses Generates New Opportunities
- Growth in Cryogenic Transportation and Storage Solutions Propels Market Demand
- Rising Focus on Energy Efficiency and Sustainability Strengthens Business Case for Cryogenic Hoses
- Adoption of Cryogenic Hoses in Renewable Energy Sector Drives Market Growth
- Increasing Use of Cryogenic Hoses in Chemical Processing Industry Spurs Demand
- Advances in Manufacturing Technologies Generate Demand for High-Quality Cryogenic Hoses
- Growing Need for Cryogenic Hoses in Research and Development Applications Expands Addressable Market
4. GLOBAL MARKET PERSPECTIVE
For more information about this report visit https://www.researchandmarkets.com/r/qcth80
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