Oil & Gas Hoses Market | Covid-19 Impact Analysis

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s oil & marine hoses market realities and future possibilities for the forecast period 2020 to 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, our aim to build a comprehensive report on another promising topic in the Hoses family to help industry stakeholders in the identification for attractive market segments. 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.

Oil & Marine Hoses Market: Highlights

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 Uniroyal company, the predecessor of Manuli Rubber Industries S.p.A., has coined the terms Submarine & Floating Hoses in 1959. 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 in 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 widening their distribution network covering broader 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.

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$ 0.3 billion in 2025. The oil & marine hoses market is mainly dependent on offshore oil & gas production and ongoing buoys projects.

The long-term growth of the oil & marine hoses market is majorly driven by the rise in investments by the 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 by 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. The oil & gas industry participants were expecting the year 2020 as another outstanding year for exploration in offshore areas. But the outbreak of COVID-19 in China and its rapid spread all over the world has entirely flipped the market dynamics.

A sharp decline in the demand for crude oil led to the plunge in crude oil prices in the first half of 2020 due to the strict lockdown in all the major countries of the world causing huge revenue losses to the industry stakeholders and subsequent decline in the market for oil and marine hoses too. In the pre-COVID scenario, it was anticipated that about 45 countries will launch around 50 lease rounds of exploration out of which 60% would be in offshore areas, but now the petroleum companies are restricting new investments and trying to recover their losses.

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-recovering segment during the forecast period, owing to its anti-pollutant property and stringent regulation against the 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.

In terms of region, Latin America is projected to remain the largest market for oil & marine hoses during the forecast period. Brazil holds the lion’s chunk of the Latin American market as the country owns 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 Latin America. Petrobras is the biggest oil producer in Brazil.

China and South-East Asian countries are not only the largest consumers of oils in the region but also, in the world along with a high focus on the increasing offshore oil & gas production. The key economies of the region are continuously increasing their share in oil & gas production to meet the upcoming rise energy demand from industrial and consumer sectors, once the aftermath of the pandemic ends. 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.  The market is consolidated with the presence of some of the major companies having a good market hold with strong manufacturing and operational capabilities. Some of the key players in the oil & marine hoses market are

• Bassi Offshore S.R.L.
• Continental AG
• EMSTEC GmbH
• Flexomarine S.A.
• Hebei Zebung Rubber Technology Co., Ltd.
• Manuli Rubber Industries S.p.A.
• The Yokohama Rubber Co., Ltd.
• Trelleborg AB
• VH-MarineTech Co., Ltd.
• HONGRUNTONG Marine & Offshore Technologies

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 report provides market intelligence in the most comprehensive way. 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

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].