Flexible Pipes Market Growth & Forecast Analysis

Market Insights

The flexible pipes market was valued at USD 954.3 million in 2021 and is likely to grow at a CAGR of 4.62% during 2022-2028 to reach USD 1314.3 million in 2028.

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Recovery of oil & gas activities across regions coupled with an increasing acceptance of flexible pipes in various applications is the factor proliferating the growth of the market, owing to their cost effectiveness and superior performance to steel pipes. Additionally, the introduction of stringent government regulations is further propelling the demand for flexible pipes.  As per Baker Hughes estimates, the worldwide rig count grew by 27.3% from the last year to reach an average of 2,029 rig counts in 2017.

A flexible pipe is a hollow structure designed to transfer fluids or liquids from one location to another. It is widely used in offshore and onshore oil and gas exploration as well as in the production process. Technological advancements are serving the evolution of flexible pipes. Corrosion is one of the major downsides allied with metal piping systems. It ensures both inside and outside the pipe; thus, significantly impeding hydraulic efficiency. HDPE pipes do not corrode or rust and are unaffected by any biological growth, thus, offering extended service life and continuing cost savings. Flexible pipes are widely used for conveying liquids and fluids, such as crude oil. They can operate even under high pressure and temperature conditions.

Segments Share Analysis

By Raw Material Type

Based on the raw material type, the market is segmented as HDPE, PA, PVDF, and Others. HDPE currently dominates the market and is expected to remain the most dominant segment over the next five years. The material type is also likely to be the fastest-growing segment during the forecast period of 2022 to 2028, propelled by its cost-effectiveness and outstanding physical properties.

By Application Type

Based on the application type, the market is segmented into offshore and onshore applications. Offshore applications dominate the market and are expected to maintain their dominance over the next five years as well. The application type is also likely to witness higher growth over the next five years, propelled by a host of factors including an increased acceptance in various applications, such as risers, as well as increasing penetration in deep-water, ultra-water, and subsea applications.

Regional Analysis 

Based on regions, North America is expected to remain the largest market for flexible pipes during the forecast period. Recovering oil & gas exploration activities is the major factor behind the dominance of the region in the market. Technological advancements in horizontal and pad drilling along with the richness of shale oil and gas are the other factors powering the growth of the market in the region.  The region is likely to be the fastest-growing market during the forecast period as well.

The Middle East & Africa, the second largest market, is expected to maintain their dominance in the coming five years, driven by Saudi Arabia, the UAE, and Nigeria. Recovering oil & gas activities in the region are primarily driving the demand for flexible pipes in the coming years.

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Market Scope & Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The market is segmented in the following ways:

By Raw Material Type

• High-Density Polyethylene
• Polyamides
• Polyvinylidene Fluoride
• Others

 By Type

• Risers
• Flow Lines
• Jumpers
• Fluid Transfer Lines

By Application Type

• Offshore
• Onshore

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Middle East & Africa (Country Analysis: Saudi Arabia, the UAE, Qatar, Nigeria, and Others)
• Europe (Country Analysis: the UK, Russia, Norway, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, Indonesia, India, and the Rest of Asia-Pacific)
• South America (Country Analysis: Brazil, and Others)

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Key Players

The supply chain of this market comprises raw material suppliers, flexible pipes manufacturers, distributors, and oil & gas companies.

Some of the key flexible pipe manufacturers are-

• National Oilwell Varco, Inc.,
• GE Oil & Gas Corporation,
• Magma Global Ltd.,
• FlexSteel Pipeline Technologies, Inc.,
• Shawcor Ltd.,
• Pipelife Nederland B.V.,
• Airborne Oil & Gas B.V.,
• Technip FMC Plc.,
• Prysmian Group,
• ContiTech AG.

The development of advanced products and the formation of mergers & acquisitions are the major strategies adopted by the major players in order to remain competitive and quickly gain market share.

Research Methodology

For calculating the market size, our analysts follow either Top-Bottom or Bottom-Top approach or both, depending upon the complexity or availability of the data points. Our reports offer high-quality insights and are the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

We leverage a multitude of authenticated secondary sources, such as company annual reports, government sources, trade associations, journals, investor presentations, white papers, and articles to gather the data.

More than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts are usually executed to obtain both qualitative and quantitative insights.

Report Features

This report, from Stratview Research, studies the flexible pipes market over the trend period of 2016 to 2021 and the forecast period of 2022 to 2028. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Report Customization

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any of the countries by application type

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

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