NeutralGlobeNewsWire
1 month ago
Global Cryogenic Hoses Industry Report 2024, Featuring Key Players for Abhijit Enterprises, Aero-Flex, Pacific Hoseflex, Penflex, Plantinflex Flexible Solutions and Unisource Manufacturing
Dublin, July 24, 2024 (GLOBE NEWSWIRE) -- The "Cryogenic Hoses - Global Strategic Business Report" has been added to ResearchAndMarkets.com's offering. The global market for Cryogenic Hoses was valued at an estimated US$971.2 Million in 2023 and is projected to reach US$1.7 Billion by 2030, growing at a CAGR of 8.7% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. The growth in the cryogenic hoses market is driven by several factors, including increasing demand for liquefied natural gas (LNG), advancements in healthcare, and the expansion of the aerospace industry. The rising adoption of LNG as a cleaner alternative to traditional fossil fuels has led to a greater need for efficient cryogenic transportation and storage solutions, propelling the demand for high-performance hoses. In the healthcare sector, the use of cryogenic gases for medical applications such as cryosurgery and cryopreservation is expanding, further boosting market growth. Additionally, the aerospace industry`s ongoing advancements require reliable cryogenic equipment for rocket propulsion systems and other space exploration technologies. The push towards energy-efficient and environmentally friendly industrial processes also supports the adoption of advanced cryogenic hoses. As these trends continue to evolve, the cryogenic hoses market is expected to experience significant growth, driven by technological innovations and increasing application diversity.
