European dredging hose market is estimated to grow at a CAGR of nearly 2.9% during the forecast period. Some key factors encouraging the market growth in the region include significant oil and gas production and increasing development of port infrastructure in the region. Norway has the second-largest petroleum industry with 103.7 Million of tonnes of oil equivalent (Mtoe) of total natural gas production in Europe followed by Russia with 575.6 Mtoe and among the top 10 producers of gas across the globe in 2018. Additionally, as per the European Commission, considerable production of oil and gas production in Europe takes place offshore, and currently, there are nearly 550 installations in European waters. 

Owing to the high demand for energy in the European Union (EU), such kinds of operations are important to facilitate a secure supply of energy. Rising oil production in Russia has been witnessed in recent years. For instance, as per the International Energy Agency (IEA), the production of crude oil including lease condensate in 2017 was around 10.6 million barrels per day, which reached to 10.7 million barrels per day in 2018. This results in the increasing demand for artificial lift methods for oil operations in the country, in turn, dredging hose market growth in Europe.

Some prominent players in the market include Royal Boskalis Westminster N.V., Trelleborg AB, ContiTech AG, the Weir Group plc, and Dragflow S.r.l. The market players are adopting some key strategies to increase their market share. For instance, in January 2019, Trelleborg AB entered into a joint venture (JV) agreement in Malaysia to produce and sell industrial hoses in composite materials. This will enable Trelleborg to increase its production capacity, access to new markets faster, and reinforce its total product offering. Additionally, in July 2018, the Weir Group plc acquired ESCO Corp., a provider of ground engaging tools for infrastructure and surface mining. ESCO’s position in surface mining complements the Weir business of materials processing. ESCO operates as a new division of the Weir Group and will be reported as a distinct segment alongside Oil & Gas and Minerals.

Research Methodology

The market study of the European dredging hose market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders and industry experts. Primary research brings authenticity in our reports.

Secondary Sources Include:

• Financial reports of companies involved in the market
• Whitepapers, research-papers, and news blogs
• Company websites and their product catalog

The report provides in-depth analysis on market size, intended quality of the service preferred by consumers. It will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions.

Market Segmentation:

• European Dredging Hose Market Research and Analysis, By Type

The Report covers:

• Comprehensive research methodology of the European dredging hose market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• Exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the European dredging hose market.
• Insights about market determinants which are stimulating the European dredging hose market.
• Detailed and extensive market segments with regional distribution of forecast revenues.
• Extensive profiles and recent developments of market players.