NEW
YORK, June 20, 2024 /PRNewswire/ -- The
global flexible pipes market size is estimated to grow by
USD 173.3 million from 2024-2028,
according to Technavio. The market is estimated to grow at a CAGR
of over 2.8% during the forecast period. Rising investment in
upstream oil and gas activity is driving market growth, with a
trend towards increased use of carbon composite to increase
strength. However, fluctuation in crude oil prices poses a
challenge. Key market players include BRUGG GROUP AG, CGH Belgium
NV, Changchun Gaoxiang Special Pipe Co. Ltd., Chevron Phillips
Chemical Co. LLC, Continental AG, Davis Standard LLC, FlexSteel
Pipeline Technologies Inc., General Electric Co., Hebei Heng An Tai
Pipeline Co. Ltd., MAGMA GLOBAL Ltd., Mattr Corp., NOV Inc., NV
Bekaert SA, Prysmian Spa, Saudi Arabian Amiantit Co., Shandong
Saigao Group Corp., Shell plc, Strohm B.V., TechnipFMC plc, and
Wienerberger AG.
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Flexible Pipes
Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
2.8%
|
Market growth
2024-2028
|
USD 173.3
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
2.69
|
Regional
analysis
|
North America, Middle
East and Africa, South
America, APAC, and
Europe
|
Performing market
contribution
|
Middle East and Africa
at 36%
|
Key
countries
|
US, Saudi Arabia,
Russia, Canada, and China
|
Key companies
profiled
|
BRUGG GROUP AG, CGH
Belgium NV,
Changchun
Gaoxiang Special Pipe Co. Ltd.,
Chevron Phillips
Chemical Co. LLC, Continental
AG, Davis
Standard LLC, FlexSteel Pipeline
Technologies
Inc., General Electric Co., Hebei
Heng An Tai
Pipeline Co. Ltd., MAGMA
GLOBAL Ltd.,
Mattr Corp., NOV Inc., NV
Bekaert SA,
Prysmian Spa, Saudi Arabian
Amiantit Co.,
Shandong Saigao Group Corp.,
Shell plc, Strohm
B.V., TechnipFMC plc, and
Wienerberger
AG
|
Market Driver
The flexible pipes market is witnessing significant growth due
to the increasing number of horizontal wells in the oil and gas
industry. These pipes are preferred in shallow and long horizontal
wells due to their ease of retraction. The trend towards
directional drilling, which has a higher production rate than
vertical drilling, is driving market expansion. In response to the
harsh subsea environment, vendors are enhancing the strength of
flexible pipes through innovations like carbon fiber composite
pressure armor layers, as demonstrated by Baker Hughes in
January 2020. These advancements are
expected to broaden the applications and overall strength of
flexible pipes, fostering market growth during the forecast
period.
The Flexible Pipes market is currently experiencing significant
growth due to the increasing demand for efficient and flexible
piping solutions. These pipes offer numerous benefits such as ease
of installation, resistance to corrosion, and the ability to
withstand extreme temperatures. The use of flexible pipes in
various industries like oil and gas, chemical processing, and power
generation is on the rise. Offshore projects and deep-sea
exploration are also driving the demand for flexible pipes.
Furthermore, the development of advanced materials and technologies
is enhancing the performance and durability of these pipes.
Overall, the Flexible Pipes market is expected to continue its
upward trend in the coming years.
Research report provides comprehensive data on
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Report
Market Challenges
- The volatility of crude oil prices significantly impacts the
oil and gas industry, particularly the flexible pipes market. High
oil prices boost exploration and production activities, increasing
demand for flexible pipes. Conversely, low prices lead to project
delays or cancellations, decreasing demand. Upstream companies are
negatively affected due to fixed production costs and
capital-intensive operations. The forecast period anticipates
challenges for the oil and gas industry and the flexible pipes
market due to fluctuating oil prices. (Exact word count: 50)
- The Flexible Pipes Market faces several challenges in its
operation and production. One significant challenge is the need for
durability and strength in the pipes, especially in deep-sea
environments. Another challenge is the cost-effectiveness of
manufacturing and transporting these pipes, which can be quite
heavy and long. Additionally, the demand for flexible pipes in
various industries, such as oil and gas, is constantly evolving,
requiring suppliers to adapt quickly. Furthermore, regulatory
compliance and environmental considerations add complexity to the
market. Overall, the Flexible Pipes Market requires innovative
solutions to address these challenges and meet the demands of
diverse industries.
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challenges - Request a sample report!
Segment Overview
This flexible pipes market report extensively covers market
segmentation by
- Application
- Type
- 2.1 HDPE
- 2.2 PA
- 2.3 PVDF
- 2.4 Others
- Geography
- 3.1 North America
- 3.2 Middle East and
Africa
- 3.3 South America
- 3.4 APAC
- 3.5 Europe
1.1 Offshore- The global flexible pipes market for oil
and gas is primarily driven by the offshore segment due to its
large share and continuous growth. Flexible pipes are essential for
offshore applications, including chemical injection pipes and
risers, due to their resistance to wear, corrosion, and mechanical
stress. In deepwater and ultra-deepwater exploration, flexible
pipes are used as dynamic and static risers, seabed flowlines, and
jumpers. The increasing number of offshore drilling projects,
especially in deep and ultra-deepwater, is expected to boost the
demand for flexible pipes. Several initiatives by governments and
oil companies to expand offshore oil and gas production will
further fuel market growth.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data
(2017-2021) - Download a Sample Report
Research Analysis
The Flexible Pipes Market encompasses the production and supply
of flexible pipes for various applications in pipeline
infrastructure. These pipes are essential for subsea production and
deepwater operations, where their flexibility enables efficient
hydrocarbon production in challenging environments. Flexible pipe
manufacturers specialize in the engineering and production of these
pipes, ensuring corrosion resistance and integrity for flexible
pipe installation and subsea construction. Pipeline maintenance and
offshore drilling also benefit from the use of flexible pipes and
solutions, which enhance pipeline flexibility and reduce the need
for seabed infrastructure. Pipe laying vessels and flexible riser
systems are integral components of the market, facilitating the
installation and deployment of these pipes in subsea
developments.
Market Research Overview
The Flexible Pipes Market encompasses the production, supply,
and installation of flexible pipes used in various industries for
transporting fluids. These pipes offer advantages such as
resistance to corrosion, flexibility, and ease of installation. The
market is driven by factors including increasing demand for oil and
gas exploration and production, as well as the growing adoption of
flexible pipes in industrial applications. The use of flexible
pipes is also expanding in sectors such as offshore oil and gas,
chemical processing, and power generation. The market is expected
to grow significantly due to these trends and the continuous
advancements in pipe technology. The flexible pipes industry is a
dynamic and innovative sector that is essential for the efficient
transportation of fluids in today's industrial landscape.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Application
-
- Type
-
- Geography
-
- North America
- Middle East And Africa
- South America
- APAC
- Europe
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio