Flexible Pipes Market size is set to grow by USD 173.3 million from 2024-2028, Rising investment in upstream oil and gas activity boost the market, Technavio

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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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. 

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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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Segment Overview 

This flexible pipes market report extensively covers market segmentation by

1. Application 
• 1.1 Offshore
• 1.2 Onshore
2. Type 
• 2.1 HDPE
• 2.2 PA
• 2.3 PVDF
• 2.4 Others
3. 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.

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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
• Offshore
• Onshore
• Type
• HDPE
• PA
• PVDF
• Others
• 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: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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