The presence of a handful of large players in the global mining hoses market
that hold key market share features a consolidated yet competitive
vendor landscape, says a recent market study by Transparency Market
Research (TMR). A noticeable trend observed among key players is focus
for a diversified product portfolio by means of innovative technologies
to up the ante against competitors. Topnotch players are also vying to
tap growth opportunities in under-penetrated markets in the emerging
economies of Asia Pacific.
Some of the prominent companies operating
in the global mining hoses market are Trelleborg Group, Metso
Corporation, Continental Group, Weir Group plc, Novaflex Group, TESS,
Hose Solutions Inc., Eaton Corporation, Goodall, and ALFAGOMMA Spa among
others.
As per estimates of the TMR report, the
global mining hoses market is expected to expand at a CAGR of 7.30%
during the 2017-2025 forecast period, for the market to present an
opportunity worth US$483.4 mn by 2025.
Among the various transporting media
segments, the slurry segment holds the leading share in the overall
market. Synthetic rubber segment leads over natural rubber segment on
the basis of material type in the mining hoses market. Geography-wise,
Asia Pacific is a key revenue contributor to the global mining hoses
market.
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Driven by a number of favorable factors,
the global mining hoses market is experiencing steadfast growth over the
last couple of years. First and foremost, the global mining industry is
witnessing a positive growth outlook after the recovery of the global
economy post the economic recession of 2008-09. The surge in production
of various minerals such as copper, iron, and gold to serve various
end-use industries is acting in favor of the growth of the mining hoses
market globally. Further, initiatives from several governments to
revitalize the mining industry is indirectly benefitting the mining
hoses market.
Mining hoses find application in a number
of intermediate processes during the mining of minerals. This includes
heavy material handling and transportation of slurry or industrial
water/alkali among others. Additionally, it is also used for the pumping
of extremely abrasive materials from mining sites. To serve this,
mining hoses are manufactured from high quality natural or synthetic
rubber that are based on pressure, temperature, and dimensions that vary
according to mining operations.
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