Flexible Pipes Market Analysis | 2024-2030

Market Insights

The flexible pipes market was estimated at USD 1.01 billion in 2023 and is likely to grow at a CAGR of 4.69% during 2024-2030 to reach USD 1.38 billion in 2030.

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Market Dynamics

Introduction

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.

Market Drivers

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.

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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.

Note: The above list does not necessarily include all the top players in the market.

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Segment Analysis

By Raw Material Type

Based on the raw material type, the market is segmented into 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 2024 to 2030, 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 Insights

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 and 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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Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects flexible pipes market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is 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.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter 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, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factorss

Market 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 flexible pipes 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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Report Customization Options

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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