The mining hoses market is anticipated to have a steady CAGR of 6.7% during the period 2022-2032. The mining hoses market is predicted to grow from US$ 390.6 Million in 2022 to US$ 749.3 Million in 2032. Previously, the market was thriving at a higher CAGR of 7.2% (2015-2021), resulting in market size of US$ 364.0 Million in 2021.
“Construction operations are likely to expand rapidly to support continuing economic development and large-scale projects using cutting-edge technologies to drive mining hoses market growth efficiently.”
Global mining hose market growth is predicted to be driven by increased production of various metals (such as gold, copper, and iron) servicing various end industries. Mining hoses are in higher demand as the construction industry grows, which is strongly reliant on industrial minerals.
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Mining hoses market growth is likely to be fueled by the rapid expansion of construction activities to support continuing economic development and large-scale projects.
How Covid-19 Set New Trends In The Mining Hoses Market?
Due to the collapse of the mining industry, the mining hoses market is projected to take a long time to recover from the impact of the COVID-19 pandemic. According to the World Bank, the pandemic has caused a severe collapse in the commodities market. Prices for metals are predicted to rise somewhat by the end of 2021.
However, due to China’s protracted recovery period as one of the world’s largest mining countries, the recovery of mined commodities is projected to be slower. The outbreak has produced a significant collapse in the commodities market, according to the World Bank. Metal prices are expected to climb somewhat by the end of 2021.
The recovery of mined commodities is expected to be delayed due to China’s lengthy recovery period as one of the world’s top mining countries.
What Are The Trends In The Mining Hoses Market?
- The government of Odisha in India invited tenders for 11 mining sites in July 2021, which will purportedly result in the loss of 4,000 acres of forest. Environmentalists, locals, and indigenous peoples in the region staged numerous protests in the forest areas as a result of this.
- Serbian citizens came to the streets in September 2021 to protest a lithium mine being built in the Balkan country, urging the government to create stricter environmental rules.
- Rising construction activities in the United States to sustain continuous economic expansion, as well as major plans to expand and repair the transportation system, are expected to drive demand for industrial minerals such as industrial diamonds.
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Key players
- Trelleborg Group
- Metso Corporation
- Continental Group
- Weir Group PLC
- Eaton
Key segments
By Transporting Media:
- Industrial Water/Alkali
- Bulk Water
- Slurry
By Material:
- Natural Rubber
- Synthetic Rubber
By Region:
- North America
- South America
- Europe
- Asia Pacific
- Middle East & Africa
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