Oil and Gas Hose Assemblies Market

Increasing Demand for Downstream Application

Oil and gas is one of the most important industries in any economy and is growing remarkably. It not only deals with production, exploration, well development, and site abandonment and but also involves the movement of products from one place to another. So, the industry also requires the integration of upstream, midstream, and downstream applications for efficient supply chain system to reach the destinations.

Since downstream deals with refining, distributing, and retail of oil and gas, the oil and gas hose market is gaining from expansion of downstream sector and increase in demand hose assemblies that are satisfies pressure requirements and are corrosion resistant. This is impelled further by the launch of some big projects like the Abreu e Lima Refinery (RNEST) project, a new downstream project in north-eastern Brazil planned with an aim to have a processing capacity of 230,000 barrels of oil per day. Such projects will directly boost the demand for oil and gas hose assemblies.

Innovations in Raw Materials of Hoses Offering Lucrative Opportunities

The manufacturers are focusing on using cost-optimal raw materials such as Polyvinyl chloride (PVC), Polyurethane (PU), Natural Rubber (NR), Styrene-butadiene (SBR), Ethylene Propylene Diene Monomers(EPDM), Nitrile Butadiene Rubber (NBR), Silicon (Si), Chloroprene Rubber (CR), Cross-linked polyethylene (XLPE), and others. Selection of raw material is crucial, as the hoses are required to withstand rigors of the environment and materials that flow through them in the several phases through the completion processes. The market is witnessing consistent investments in researches and innovations in raw materials by blending them with others to improve the characteristics of hoses making them more durable and safer. Such innovations are offering lucrative opportunities to the players.

New Subsea Technology Augmenting Growth

The exploration and production in oil and gas reservoirs in a variety of water depth have been posing challenge to the offshore industry. Subsea technologies have greatly improved in terms of their functionality and reliability in the last few years. These subsea technologies are seen as the foremost contributor to fundamentally reconstructing the subsea oil and gas industry as it launches innovative, secure, and sustainable cost-effective solutions.

It has allowed upstream players to increase the scale of their deep-water projects in order to potentially create new opportunities in offshore exploration and production. Consistent developments in Improving Remotely Operated (ROV) intervention which is a free-swimming submersible craft used to perform subsea tasks like valve operations, hydraulic functions, and other general tasks, and subsea intervention vessel technology are foreseen to augment the growth of the oil and gas hose assemblies market.

COVID-19 Results in Limiting Growth of Market

The global oil and gas hose assemblies market is primarily dependent on the oil and gas industry. The ongoing global COVID-19 pandemic grabbed the oil and gas industry. As a result of this, countries not included in the Organization of Petroleum Exporting Countries (OPEC) that export crude oil (called OPEC-plus countries) turned up the spigots. This led to the collapse of oil prices. During the initial phases of the pandemic demand for transportation, fuels fell by up to half. This compelled refineries to cut their prices or even stop production. The oil and gas industry underwent the sharpest shock.

The sudden demand shock witnessed in the supply chain has negatively impacted the global oil and hose assemblies market. Due to restrictions on transportation, the market further witnessed a shortage of raw materials. Furthermore, fluctuations in currencies and taxes worsened the situation. With manufacturers coming up with new strategies, FMI foresees the market to recover during the assessment period.

Key Challenges

The installation of oil and gas hoses assemblies needs techno-scientific knowledge for fitting hoses at different sites. Improperly assembled hoses cause serious injury or property damage. The shortage of skilled workers with the technical expertise of oil and gas hoses is the major challenge for the market. Furthermore, the shorter focus of most of the manufacturers on technological innovations and the availability of a limited number of manufacturing raw materials are restraining growth.

Region-wise Analysis

North America Oil and Gas Hose Assemblies Market

North America led by the US, accounts for the lion's share of the global market. The region is forecast to remain dominant owing to the growing investments in oil and gas projects like Alaska LNG, and Driftwood LNG. The presence of leading manufacturers in the region like Gates Industrial Corporation plc, Parker-Hannifin Corporation, and Kuriyama of America, Inc. is another growth driving factor.

North America invested in refining and transport capacities and entered adjacent industries. This has now turned into major support for the global oil and gas hose assemblies market. Furthermore, growing downstream applications in the region are projected to augment the demand in North America.

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Europe Oil and Gas Hose Assemblies Market

Europe, led by Russia, is among the regions accounting for a sizeable share of the global market. The growth of the region is attributable to the strict administration of the governments and their consistent policies to strengthen the oil and gas industry. The region is observing investments in research and development which is leading to innovations and improvement of raw materials. This is augmenting the growth of the region. FMI anticipates opportunities to be numerous in Europe owing to the expansion of new subsea technology in the region.

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The Middle East and Africa Oil and Gas Hose Assemblies Market

Growth witnessed in the Middle East and Africa is largely dependent on the expansion of the oil and gas industry of the region. According to FMI, the region is projected to witness significant growth during the forecast period owing to the increasing private and government investments in ongoing oil and gas projects like Ruwais Refinery Complex - Third Grassroot Refinery and a strong future approach for upcoming projects like Abu Dhabi North West Development - Hail and Ghasha Sour Gas. This will directly augment the demand for oil and gas hose assemblies in the region. This is also foreseen to create multiple growth opportunities for the local players operating the region.

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Category-wise Insights

Midstream Remains Lead

Based on application type, midstream is projected to remain lead through the forecast period. The growth of the segment is owing to the increasing requirement of hose on account of intensifying demand for oil and gas production in both developed and developing countries. 

Additionally, new government initiatives and investments in the oil and gas sector have emerged in creating numerous opportunities, thereby raising the demand for midstream oil and gas applications. The enhanced rig activity levels and major projects are propelling the growth of the segment.

High Pressure Dominates Market

By pressure intake, FMI forecasts the high pressure segment to dominate the market during the assessment period. The growth of the segment is attributable to characteristics of high pressure hose like reliability, versatility, high collapse resistant power, and a high degree of customization. Their ideality for different environments is driving the growth of the segment. This segment is expected to grow with a significant CAGR.

Polymers and Composites Continues as First Choice

Polymers and composites hose assemblies offer higher performance as compared to rubber and metal. Owing to this FMI estimated the polymer and composite segment to continue as the first choice during the forecast period. The multi-layer material of these hoses guarantees durability and flexibility which is the key requirement in the oil and gas sector.

Dock Loading Hose Assemblies Endures Dominating

Based on product type, the dock and hose assemblies segment is expected to endure dominating through the forecast period. According to FMI, the major growth will be observed in the drilling mud hose assemblies segment between 2020 and 2030.

Competitive Landscape

The global oil and gas hose assemblies market is extremely competitive. Its growth scope is driving the entry of many newcomers to the market. On the other hand, key market players are focusing on investing heavily in the expansion of manufacturing facilities to enhance their market share. They are working continuously to improve the cost and performance parameters for different applications. For instance, Parker launched its Thermoplastic Oil and Gas Hose Assemblies Catalog. The catalog comprises hoses and fittings for the Oil and Gas industry. The indicated fittings are always adapted, be it extreme temperatures, pressures, robustness, or special custom designs, Parker's new range of hose assemblies offer optimum performance.

FMI observed the shift of the manufacturers’ focus to the expansion of their distribution networks in South Asia and Pacific and East Asia. This is owing to the presence of a large number of industrial players and the prevalence of low labor costs in the region. Furthermore, the market is highly influenced by the trend of joint ventures with R&D companies and collaborations with investors in order to cater to their consumers with high-performance hose assemblies and expand their base in growing economies.

Leading market players occupy almost one-fourth of the market share. Attributing to the presence of several global and regional players, the market has tough competition. FMI lists some of the key players in the global Oil and Gas Hose Assemblies market including Gates Corporation, Eaton Corporation Plc, Continental AG, Trelleborg AB, ERIKS North America, Inc. Parker Hannifin Corporation, Manuli Hydraulics, ALFA GOMMA Spa, Kuriyama Holdings Corporation amongst many others.

The list is only indicative – a full list of global oil and gas hose assemblies market key players is available upon request

Oil and Gas Hose Assemblies Market Report: Scope

Attribute	Details
Forecast Period	2020-2030
Historical Data Available for	2015-2019
Growth Rate (2020-2028)	4.3% CAGR
Market Analysis	US$ Mn for Market Value and ‘000 Units for Market Volume
Market Value for 2020	US$ 1,247.9 Mn
Key Regions Covered	North America, Latin America, Europe, South Asia and Pacific, East Asia, Middle East & Africa
Key Segments Covered	Product Type, Material Type, Pressure Intake, Application and Region
Key Companies Profiled	Gates Corporation, Eaton Corporation Plc, Continental AG,Trelleborg AB, ERIKS North America, Inc. ParkerHannifin Corporation, Manuli Hydraulics, ALFA GOMMA Spa, Kuriyama Holdings Corporation
Report Coverage	Market Forecast, Competitive Landscape, Region-wise and Category-wise Insights, COVID-19 Impacts, Key Trends, Key Challenges
Customization & Pricing	Available upon Request

Key Questions Answered by the Report

• At what rate the global oil and gas hose assemblies market is forecast to grow?

  According to FMI, the global market is expected to rise at a CAGR of 4.3% between 2020 and 2030.

• Which are the lucrative markets for oil and gas hose assemblies?

  North America is forecast to remain as lead in the market. Europe and Middle East and Africa also account for a sizeable share of global market and holds dominance backed by surging demand and production in their strong markets.

• Which are the top companies in the oil and gas hose assemblies market?

  Some of the leading companies operating in the oil and gas hose assemblies market are Gates Corporation, Eaton Corporation Plc, Continental AG,Trelleborg AB, ERIKS North America, Inc. ParkerHannifin Corporation, Manuli Hydraulics, ALFA GOMMA Spa, Kuriyama Holdings Corporation among others.

• What is the outlook on the oil and gas hose assemblies market?

  Due to COVID-19, manufacturing activities of the global market were affected owing to the restrictions imposed by governments and current slowdown oil and gas industry. But, FMI foresees recovery attributable to the increasing investments by governments of developing and developed economies in oil and gas sector.

• Which key challenge witnessed by oil and gas hose assemblies market?

  The shortage of skilled workers with the technical expertise of oil and gas hoses is the major challenge for the market. Furthermore, the shorter focus of most of the manufacturers on technological innovations and the availability of a limited number of manufacturing raw materials are limiting growth.

• Which product category is leading the oil and gas hose assemblies market?

  Dock loading Hose Assemblies is witnessing the maximum sales and production by product type. FMI foresees this segment to remain as lead during the forecast period.

• What are key trends driving the global oil and gas hose assemblies market?

  The market will observe upsurge in demand for oil and gas hose assemblies owing to the increasing launch of projects and investments by government and oil and gas market players. New subsea technologies and expanding downstream base are foreseen to drive the growth.

Enquiry before Buying

• Is this research conducted by Future Market Insights?

  Yes, the report on the global oil and gas hose assemblies market has been conducted by expert analysts of Future Market Insights through a combination of primary research and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

• What research methodology is followed by FMI?

  FMI follows a methodology that encompasses demand-side assessment of the market and triangulates the same through supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions. Request detailed methodology.

• Who are the respondents for primary research?

  FMI speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, industry experts. For a full list of primary respondents, please reach out to us.

• What are the sources of secondary research?

  FMI conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.

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Key Segments

Product Type

• Dock LoadingHose Assemblies
• Dump HoseAssemblies
• FPSO WaterUptake Hoses
• Jumper HoseAssemblies
• Bunkering HoseAssemblies
• Drilling MudHose Assemblies
• Frac HoseAssemblies
• Other CustomHose Assemblies

Material Type

• Rubber
• Polymers & Composites
• Metal

Application Type

• Downstream
• Midstream
• Upstream

Pressure Intake

• Low Pressure
• Medium Pressure
• High Pressure

Regional Outlook

• North America – U.S., Canada
• Latin America – Brazil, Mexico, and rest of Latin America
• Europe – Germany, France, Italy, UK, Spain, Russia, and rest of Europe
• South Asia and Pacific – India, ASEAN, Australia and New Zealand and rest of South Asia and Pacific
• East Asia – China, Japan, South Korea
• Middle East & Africa - GCC counties, North Africa, South Africa, Turkey and the rest of Middle East And Africa