Mining Hoses Market Size, Share, and Industry Report [2031]

Report Description

The global mining hoses market size was USD 1.05 Bn in 2021 and is likely to reach USD 1.49 Bn by 2030, expanding at a CAGR of 4.6% during 2022–2030. The market growth is attributed to the growing investments in mining projects across the globe.

Mining is referred to the process of extracting valuable minerals and other useful materials from the earth. Some of these materials include gold, coal, oil shale, and iron ore. The mining process is used to collect materials that humans cannot grow or create. The mining process begins with the discovery of minerals or ore bodies, which is followed by the extraction process.

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Mining hoses are used in the extraction process predominantly. A mining hose is considered an important and integral part of various mining as well as construction equipment that provides power for different applications requiring high pressure. Mining hoses are designed for arduous industrial and mining applications.

Hoses are used for over-the-groundwork, such as industrial hoses are used for filling air, nitrogen, or water, drilling for air & oil stores, and others. Mining hoses are used for several underground applications as well. For surface mining, larger hoses are required than in underground mining. Several underground mining hoses are hydraulically operated.
Mining hoses serve several areas of operations nowadays, which requires these hoses to have higher pressure ratings, abrasion resistance, and better bend radius than before. Operators need to keep the hoses in good working conditions with less downtime. Hoses need to withstand elevated temperatures, severe pressure cycling, and flexing to efficiently serve the applications.

COVID-19 Impact on the Global Mining Hoses Market

COVID-19 has had a negative effect on the global mining hoses market, as the mining industry collapsed during the pandemic. The worldwide lockdown, travel restrictions, social distancing policies, and other pandemic-related regulations resulted in a shutdown of several facilities, a halt in production lines, and a disruption of supply chains. Oil and metal prices fell during the pandemic, which affected the commodity market heavily. Decreasing construction activities slowed down the growth of the mining industry.

The mining industry is slowly getting momentum in recent years, due to the ease in pandemic-related restrictions. However, the demand for mining hoses continues to rise slowly, owing to low mining production in counties such as China.

Market Dynamics

The research report presents a complete overview by providing detailed information about the current market trends, existing drivers, growth opportunities and potentials, and emerging challenges. The global mining hoses market report has up-to-date insights about market dynamics and market scenarios that can shape the overall market performance and output during the forecast period, 2022 to 2030.

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Which Factors are Driving the Demand for Mining Hoses?

Rapid Industrialization and Increasing Demand for Metals

Rapid industrialization has resulted in the growth of several industries such as the construction industry have boosted the demand for industrial metals and minerals. High demand for minerals such as iron, gold, copper, and others spurs mining activities across the globe. Growing mining activities are expected to propel the demand for mining hoses during the forecast period.

Which Factors are Limiting the Growth of the Global Mining Hoses Market?

Government Regulations and Increasing Awareness regarding Environmental Impact

Rising awareness regarding the depletion of natural resources due to excessive mining activities has propelled governments across the globe to for restrictions and regulations for mining activities. These regulations and restrictions are anticipated to slow down mining activities and hamper the growth of the global mining hoses market.

What are the Growth Opportunities in the Global Mining Hoses Market?

Surging Construction Activities Across the Globe

Growing urbanization and rising population fuel the demand for efficient infrastructure across the globe. Rising demand for infrastructure boosts the construction industry and constriction activities, which is projected to drive the growth of the global mining hoses market in the coming years. Surging construction activities and increasing demand for mining hoses offer lucrative opportunities to the global market players.

Scope of the Report

The global mining hoses market research report includes an assessment of the market trends, market segments, and regional markets. Market overview and dynamics have also been included in the report.

Market Segment Insights

How is the Synthetic Rubber Segment generating more revenue share in the Global Mining Hoses Market?

Offering Abrasion-Resistance, Heat-Resistance, Chemical-Resistance, And Resistance to Aging to Mining Hoses Applications

On the basis of materials, the global mining hoses market is divided into natural rubber, synthetic rubber, and polyurethane. The synthetic rubber segment is further segregated into styrene butadiene rubber, nitrile butadiene rubber, and others. The synthetic rubber segment is expected to generate more revenue than other materials during the forecast period, as hoses made with synthetic rubber have superior resistant qualities.

Synthetic rubber hoses are abrasion-resistant, heat-resistant, chemical-resistant, and resistant to aging. Synthetic rubber is less expensive in comparison with natural rubber or other materials. These factors make synthetic rubber an ideal choice for mining hoses and boost the growth of the segment.

What are the Main Aspects for Boosting the Slurry Segment?

Easy to Maintain, Cost-effective, Reliable, and Reduce Environmental Pollution

In terms of applications, the global mining hoses market is segregated into bulk powder, industrial water/alkali, slurry, and others. The slurry segment is projected to hold a key market share during the forecast period, owing to the high demand for advanced transportation technologies for transporting slurry across the globe.

Pipelines used for transporting slurry can corrode, due to the abrasiveness of grouting. This increases the risk of cracking pipelines and leakage. However, mining hoses used for transporting slurry are easy to maintain, work in high or low temperatures, and have several safety & reliable features.

Mining hoses provide provides stability against vibrations & shearing stress, reduce environmental pollution, reduce transportation costs, and handle toxic materials, which spurs the growth of the segment.

The bulk powder segment is estimated to expand at a rapid pace in the coming years, owing to the cost-effectiveness of mining hoses in bulk powder application. Bulk materials such as powder, cement, sand, grain, and others are transferred through mining hoses with either compressed air or gravity drop. Mining hoses are widely used for transferring bulk powders, which aids in expanding the segment.

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Why is the Asia Pacific dominating the Global Mining Hoses Market?

Increasing Mineral Production in Emerging Economies

Based on regions, the global mining hoses market is segmented into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The mining hoses market in Asia Pacific is expected to dominate the global market during the forecast period, due to the rising demand for mining hoses in countries such as India and China.

Increasing mineral production in emerging economies such as China and India drives the demand for mining hoses in the Asia Pacific. Growing investments by various enterprises such as Mahanandi Coalfields Limited and Coal India Limited in mining activities propel the adoption of mining hoses in the region.

The mining hoses market in North America is estimated to register a significant CAGR in the coming years, owing to increasing construction activities across the region. Growing construction activities boost the demand for industrial minerals in North America. The mining hoses market in North America is estimated to reach USD 83 Mn in the year 2020 and continue to register growth during the forecast period.

The mining hoses market in Europe is projected to register rapid growth during the forecast period, owing to stringent environmental regulations across several countries in the region. Manufacturers in countries such as France, Germany, Italy, and others need to follow regulations regarding water pollution that compels them to integrate sustainable manufacturing practices. Rising adoption of synthetic rubber hoses in wastewater management systems in the region fuel the growth of the mining hoses market in Europe.

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