Metal Hoses Market Introduction :
Consegic Business Intelligence analyzes that the metal hoses market is growing with a CAGR of 4.3% during the forecast period (2023-2030), and the market is projected to be valued at USD 4,499.75 Million by 2030 from USD 3,217.61 Million in 2022.
Metal Hoses Market Definition & Overview:
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, and food 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.
Metal Hoses Market Insights :
Metal Hoses Market Dynamics - (DRO) :
Key Drivers :
Increasing use in oil and gas industry is accelerating the growth of the metal hoses market
The oil and gas industry often involves high temperature and pressure environments, especially in exploration, drilling, and production operations. Metal hoses are designed to withstand this extreme condition making them ideal for applications such as wellhead connections, offshore platforms, and pipelines. Metal hoses are used to transport oil and gas from wells to refineries and other processing facilities. Metal hoses are used to transport oil and gas from production wells to storage tanks.
For instance, in 2021, according to the report published by the International Energy Agency, world energy investment is set to rise over 8% in 2022 to reach a total of USD 2.4 trillion, and investment is increasing in all parts of the energy sector. Whereas world's oil and gas producers are set to double in 2022 to an unprecedented USD 4 trillion. Furthermore, government investment in the oil and gas industry has increased the usage of metal hoses, thereby increasing the growth of the metal hoses market.
Increasing demand for leak-free systems is accelerating the market growth
Metal hoses offer excellent leak resistance due to their robust constriction and proper sealing mechanisms. Industries strive for leak-free systems to minimize downtime, prevent environmental hazards, and reduce maintenance costs due to which demand for metal hoses increasing. The type of metal hose used will affect its leak resistance. Stainless steel hoses are the most common type of metal hose used in leak-free systems because they are strong, durable, and resistant to corrosion. For instance, in 2022, as per the U.S. Energy Information Administration, the oil and natural gas industry takes steps to prevent natural gas leaks. Furthermore, strict government regulations and industry standards for the use of leak-free systems are increasing to ensure the safe transportation, storage, distribution, and use of natural gas. Thereby, driving the demand for metal hoses in the market.
Key Restraints :
The availability of alternative materials is posing a major bottleneck for the market growth
The availability of alternative hose materials, such as rubber, plastic, or composite hoses can pose a challenge to the metal hose market. Rubber hoses are flexible and can withstand a wide range of temperatures and pressures. They are also relatively inexpensive. Plastic hoses are lightweight and easy to handle. They are also resistant to corrosion and chemicals. Nylon hoses are strong and durable. They can withstand high pressures and temperatures. For this reason, the availability of alternative materials is posing a major bottleneck for the market growth.
Future Opportunities :
Expansion of the energy sector is expected to create significant opportunity for the metal hoses market
Metal hoses are used in a variety of applications in the energy sector including oil and gas, power generation, and renewable energy among others. Metal hoses are a reliable and durable option for a variety of applications in the energy sector. They are available in a variety of types and materials to meet the specific needs of each application. The global focus on the renewable energy sector, such as solar and wind power, is driving the need for infrastructure development. Metal hoses are essential for connecting and conveying fluids in this energy system, presenting opportunities for growth in the metal hoses market. For instance, in 2021 as per the report of the U.S. Department of Energy, 16 states generated more than 5% of their electricity from solar, with California leading the way at 27.3%. Furthermore, increasing investment trends and business models, and updates on U.S. government programs supporting the solar industry are expected to create significant opportunities for the metal hoses market.
Metal Hoses Market Report Insights :
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 | 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 |
| By Region | North America, Europe, Asia-Pacific, Latin America, and 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 |
Metal Hoses Market Segmental Analysis :
Based on the Product Type :
The product type segment is categorized into strip wound hoses and corrugated hoses. In 2022, the corrugated hose segment accounted for the highest market share in the overall metal hoses market and grew with the highest CAGR in the forecast year. 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. For instance, In 2021, Hose Master LLC, a major player introduced a new line of corrugated metal hoses using a proprietary alloy called T321 stainless steel. This alloy offers enhanced corrosion resistance and improved mechanical properties. 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 the Application :
The application segment is categorized into steam piping systems, fuel delivery lines, high pressure lubrication lines, oil patch and offshore. In 2022, fuel delivery lines segment accounted for the highest market share of 27.50% in the overall metal hoses market and grew with the highest CAGR in the forecast year. 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.
Based on the End-Use-Industry :
The end-use industry segment is categorized into chemical industry, petroleum industry, food industry, agricultural industry, and others. In 2022, petroleum industry segment accounted for the highest market share in the overall metal hoses market and grew with the highest CAGR in the forecast year. 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 the Region :
The regional segment includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
In 2022, 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. In Asia Pacific, China accounted for the highest market share at 25.25%. 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. For instance, In September 2021, as per the data published by the India Brand Equity Foundation (IBEF), India and the US agreed to expand their energy collaboration by focusing on emerging fuels.
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. Thus, well-established industries and manufacturing sectors are raising the demand for metal hoses market in the forecast year.
Top Key Players & Market Share Insights:
The Metal Hoses market is highly competitive, with several large players and numerous small and medium-sized enterprises. These companies have strong research and development capabilities and a strong presence in the market through their extensive product portfolios and distribution networks. The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships. The key players in the market include-
- Hose Master LLC
- BOA Holding GmbH
- Parker NA
- Polyhose India Pvt Ltd
- AEROFLEX
- American Boa
- Kuri Tec Corporation
- Unisource Manufacturing
- 4-STAR Hose and Supply
- International Metal Hose Company
Recent Industry 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.
Key Questions Answered in the Report
What was the market size of the metal hoses industry in 2022? +
In 2022, the market size of the metal hoses market 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 from the 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.
