The Gas Connectors and Gas Hoses Market is poised to experience substantial growth, primarily driven by the rising demand for natural gas as a cleaner and more efficient fuel source. As businesses and consumers increasingly seek environmentally friendly alternatives to traditional fossil fuels, the demand for natural gas continues to soar. This surge in demand is set to create a significant upswing in the market for gas connectors and gas hoses, as they play a crucial role in the safe and efficient transportation and distribution of natural gas to homes and businesses alike.
The global gas connectors and gas hoses market is expected to be valued at US$ 13.5 billion in 2023. With the increasing adoption of Liquefied Petroleum Gas (LPG), the sales of gas connectors and gas hoses are projected to grow at a CAGR of 10.0% between 2023 and 2033, totaling around US$ 35.2 billion by 2033.
One of the key drivers of the market growth is the increasing demand for natural gas as a cleaner and more efficient fuel source. The demand for natural gas is expected to continue to grow as businesses and consumers look for cleaner and more efficient alternatives to traditional fossil fuels. This is expected to create a higher demand for gas connectors and gas hoses to transport and distribute natural gas to homes and businesses.
Another factor driving the growth of the gas connectors and gas hoses market is the growth in the construction industry. The construction industry is expected to continue to grow as infrastructure investments increase and populations grow. This will create a higher demand for gas connectors and gas hoses for the installation of gas pipelines, heating systems, and other gas-powered equipment.
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In addition, technological advancements such as the development of new materials and designs improve performance, durability, and safety. For instance, the use of stainless steel or high-pressure hoses can improve durability and performance, while the use of advanced polymers can improve flexibility and resistance to temperature extremes.
Moreover, regulations and standards related to the safety and quality of gas equipment are expected to create a favorable environment for gas connectors and gas hoses that meet these requirements. This is particularly important in industries where safety is a critical concern, such as oil and gas exploration, where the failure of a connector or hose can have serious consequences.
Key Takeaways from the Market Study
- Global gas connectors and gas hoses market was valued at US$ 12.3 billion by 2022-end
- From 2018 to 2022, the market demand expanded at a CAGR of 6.4%
- North America is expected to hold the highest market share of 34.2%
- By type of gas, the natural gas segment is expected to constitute a CAGR of 9.4%
- On the basis of end-user, the commercial segment is expected to dominate the market with a CAGR of 9.2% in 2033.
“The increasing popularity of outdoor living spaces and outdoor kitchens is a major factor that is expected to propel the growth of the Gas Connectors and Gas Hoses market in the near future,” remarks an FMI analyst.
Competitive Landscape
Prominent players in the gas connectors and gas hoses market are Regency Gas Hoses, Dormont, Parker Hannifin Corporation, T&S Brass and Bronze Works, Parker Hannifin Corporation, Tubes International, Grainger, Companion Outdoor, Trelleborg Sealing Solutions, Continental AG, Swagelok Company, Bromic Plumbing and Gas, Emerson Electric Co., Eaton Corporation plc., Prestige, rrmcia, IBEDA, and Bay Corporation, among others.
Recent Developments:
- In 2021, Parker Hannifin Corporation launched a new line of gas hoses designed for liquefied petroleum gas (LPG) applications. The hoses are made with a high-performance thermoplastic elastomer material and feature a high burst pressure rating and low permeation rate.
- In 2020, Eaton Corporation plc launched a new line of gas connectors designed for use in residential and commercial applications. The connectors feature a new seal design that reduces the risk of gas leaks and are available in a range of sizes and materials.
- In 2020, Emerson Electric Co.: In 2020, Emerson Electric announced the acquisition of American Governor Company, a leading provider of hydro-mechanical and electronic governors for hydroelectric turbines. This acquisition expands Emerson’s capabilities in the power generation market.
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More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global Gas Connectors and Gas Hoses market, providing historical data for 2018-2022 and forecast statistics from 2023-2033.
To understand opportunities in the Gas Connectors and Gas Hoses market, the market is segmented on the basis of Gas Connectors and Gas Hoses market by type of gas (natural gas, propane, butane, and others), by material (stainless steel, rubber, and thermoplastic), by end-user (household, commercial, industrial, and medical), across five major regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa).
Key Segments Covered in the Gas Connectors and Gas Hoses Industry Analysis
By Type of Gas:
- Natural Gas
- Propane
- Butane
- Others
By Material:
- Stainless Steel
- Rubber
- Thermoplastic
By End User:
- Household
- Commercial
- Restaurants
- Hotels
- Cafes
- Industrial
- Medical
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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