Oil & Marine Hoses Market Size, Share, Trend & Forecast Analysis (2020-2025) | Covid-19 Impact Analysis

Oil & Marine Hoses Market: Highlights

Application of Hoses in Oil & Marine Industry

Oil & Marine hoses are used to load crude oil and other petroleum products from offshore facilities to storage vessels and to unload them back to onshore or offshore facilities. They act as substitutes for sub-sea oil transfer pipelines. Oil & marine hoses are majorly used in the context of oil conveyance from remote places of production, which are not linked to major oil-consuming countries by pipelines. These hoses generally have a length up to 12 meters and have an internal diameter ranging from 4 to 24 inches. Oil & Marine hoses are of two types: floating and submarine hoses. Floating hoses are the ones that rest on the surface of the water, whereas submarine hoses are used to connect seabed pipeline and floating facilities.

The demand for oil & marine hoses started to gain momentum in the late 1960s and increased tremendously in the early 1970s particularly in the oil-producing regions of the Persian Gulf, the North Sea, and North Africa; and later its demand spread to other parts of the world. The significant increase in the demand for oil & marine hoses has gained an interest of many tire and rubber manufacturing companies and as a result, many companies started producing oil & marine hoses according to the specific needs of customers. As the demand started widening to other regions, industry players started enhancing their distribution network covering wider geographical reach.

However, the hefty fine levied to six leading producers of oil & marine hoses in the marine hose cartel in 2009 has led to divestment and closure of some of the industry players including Bridgestone Corporation and Parker ITR S.R.L. The violation disrupted the supply chain of the market; however, several companies stick to the market to leverage its growth potential.

Market Opportunity & Drivers

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$ 279.7 million in 2025. The oil & marine hoses market is mainly dependent on offshore oil & gas production and ongoing buoys projects.

The growth of the oil & marine hoses market is majorly driven by increasing investments by leading oil & gas companies for expanding offshore oil & gas production facilities to meet the increasing oil demand.  Increasing demand for oil & gas from emerging economies to meet energy requirements has led to the surge in oil & gas production including offshore oil & gas production from key countries/subregions such as Brazil, Africa, Western Europe, the Middle East, and China.

The global primary energy consumption grew at the highest rate in 2018, i.e. almost double from its 10 years average of 1.5% to 2.9% in 2018. Further, global oil production rose by 2.2 million b/d per day, contributed majorly by the USA, Canada, and Saudi Arabia.

Market Share Analysis

Market Share Analysis by Media Type

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.

Market Share Analysis by Carcass Type

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.

Regional Analysis

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.

Key Players

The supply chain of this market comprises raw material suppliers, oil & marine hoses manufacturers, installers, distributors, and end-users.

Some of the key players in the oil & marine hoses market are

• Continental AG
• The Yokohama Rubber Co., Ltd.
• Trelleborg AB
• Manuli Rubber Industries S.p.A.
• Flexomarine S.A.

The key end-users of these markets include petroleum companies, buoy manufacturers, and oil & gas producers and government entities. 

Research Methodology

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles, have been leveraged to gather the data. We have conducted more than 15 detailed primary interviews with the market players across the value chain in all five regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s market realities and future possibilities for oil & marine hoses during 2020-2025. After a continuous interest in our aerospace hose and tube assemblies market, specialty hoses market, and composite hoses market reports from the industry stakeholders, we have tried to further extend our research scope to oil & marine hoses market in order to provide the most crystal-clear picture of the market. The report segments and analyzes the market in the most comprehensive manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of low-hanging fruits available as well as formulate growth strategies.

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, Product portfolio, New product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

Market Segmentation

The oil & marine hoses market is segmented into the following categories. 

Oil & Marine Hoses Market, by Media Type

• Oil (Regional Analysis: North America, Europe, Asia-Pacific, Latin America, and RoW)
• LPG (Regional Analysis: North America, Europe, Asia-Pacific, Latin America, and RoW)
• Water (Regional Analysis: North America, Europe, Asia-Pacific, Latin America, and RoW)
• Chemical (Regional Analysis: North America, Europe, Asia-Pacific, and Latin America, RoW)

Oil & Marine Hoses Market, by Carcass Type

• Single Carcass (Regional Analysis: North America, Europe, Asia-Pacific, Latin America, and RoW)
• Double Carcass (Regional Analysis: North America, Europe, Asia-Pacific, Latin America, and RoW)

Oil & Marine Hoses Market, by Hose Type

• Floating (Regional Analysis: North America, Europe, Asia-Pacific, Latin America, and RoW)
• Submarine (Regional Analysis: North America, Europe, Asia-Pacific, Latin America, and RoW)

Oil & Marine Hoses Market, By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Western Europe, Eastern Europe, and Central Europe)
• Asia-Pacific (Country Analysis: China, Australia, Malaysia, and Rest of Asia-Pacific)
• Latin America (Country Analysis: Brazil, Venezuela, and Rest of Latin America)
• Rest of the World (Sub-Region Analysis: Africa, the Middle East, and Others)

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the hose types by media type

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected].