Flexible Pipes For Oil & Gas Market Size, Share & Trends Analysis: Global Industry Size Is Predicted to Grow USD 2.9 billion by 2030, at a CAGR of likely 3.92%
Global Flexible Pipes For Oil & Gas Market size & share revenue was valued at around USD 2.0 billion in 2022 and is estimated to grow about USD 2.9 billion by 2030, at a CAGR of approximately 3.92% between 2023 and 2030. The key market players are listed in the report with their sales, revenues and strategies are TechnipFMC, National Oilwell Varco, Prysmian Group, SoluForce, Shawcor, Magma Global, FlexSteel Pipeline Technologies, Airborne Oil & Gas, Contitech AG, Aker Solutions, Pipelife Nederland BV, Kongsberg Oil & Gas Technologies, Polyflow LLC, DeepFlex, Swagelining Limited, Wienerberger AG, Schlumberger Limited, Titeflex Corporation, Eaton Corporation, JFE Steel Corporation., and others.
Philadelphia, PA, April 28, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Flexible Pipes For Oil & Gas Market By Type (High-Density Polyethylene (HDPE), Polyamides (PA), Polyvinylidene Fluoride (PVDF), Others), By Application (Offshore, Onshore), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.
“According to the latest research study, the demand of global Flexible Pipes For Oil & Gas Market size & share in terms of revenue was valued at USD 2.0 billion in 2022 and it is expected to surpass around USD 2.9 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 3.92% during the forecast period 2023 to 2030.”
What are Flexible Pipes For Oil & Gas? How big is the Flexible Pipes For Oil & Gas Industry?
Report Overview:
The global flexible pipes for oil & gas market size was valued at USD 2.0 Billion in 2022 and is expected to reach USD 2.9 Billion by 2030, growing at a compound annual growth rate (CAGR) of 3.92% during the forecast period.
Flexible pipes are a crucial component in the oil and gas industry, used for transporting fluids and gases from one location to another. Made of multiple layers of materials such as polymer, steel, and textile reinforcement, flexible pipes offer several advantages over traditional rigid pipes, including ease of installation, reduced maintenance, and resistance to corrosion & fatigue. Flexible pipes find numerous applications in the oil and gas industry, including offshore drilling, production, and transportation. They are used for subsea flowlines, risers, and umbilical in offshore drilling, and for fluid and gas transportation in onshore pipelines, refineries, and petrochemical plants. With increasing investments in the oil and gas industry and technological advancements in flexible pipe design and manufacturing, the market for oil and gas flexible pipes is expected to witness significant growth in the future.
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Global Flexible Pipes For Oil & Gas Market: Growth Factors
The global oil and gas flexible pipe market has several drivers that have contributed to its significant growth, including increasing demand for oil and gas globally and the advantages offered by flexible pipes over traditional rigid pipes. Moreover, the development of new technologies & materials and increasing investments in the oil and gas industry are also driving the market's growth.
Despite the restraints of high costs and availability of alternative materials and technologies, the flexible pipe market presents several opportunities for growth, including expansion in the Asia Pacific region and the need for efficient and safe transportation of fluids and gases in the oil and gas industry. The market also faces challenges, including the need for regular maintenance and inspection along with the increasing focus on renewable energy sources and a low-carbon economy, which may impact the demand for oil and gas and the flexible pipe market.
Flexible Pipes For Oil & Gas Market: Segmentation Analysis
The global flexible pipes for oil & gas market is segmented based on type, application, and region.
Based on type, the market is segmented into high-density polyethylene, polyamides, and polyvinylidene fluoride. They are commonly used in the manufacturing of oil and gas flexible pipes. Among these, the high-density polyethylene (HDPE) segment held the largest market share in 2022 and is further predicted to grow rapidly at a remarkable CAGR during the forecast period. This is mainly because HDPE is widely used in the oil and gas industry for its excellent resistance to corrosion, abrasion, and chemicals, as well as its high tensile strength and flexibility. HDPE pipes are also lightweight, which makes them easy to handle and install, reducing overall costs.
Moreover, increasing investments in the offshore oil and gas industry, particularly in subsea applications, have driven the demand for HDPE flexible pipes. The material is expected to continue its dominance in the market due to its advantages over other materials and its increasing adoption in the oil and gas industry.
Based on application, the flexible pipes for the oil & gas industry are bifurcated into the onshore and offshore segments. The offshore segment held the dominating market share in 2022 and is further projected to grow at a notable CAGR during the forecast period. This can be attributed to the increasing exploration and production activities in offshore locations, which require the transportation of fluids and gases from seabed wells to the surface. Moreover, offshore flexible pipes offer several advantages over traditional rigid pipes, including ease of installation, reduced maintenance, and resistance to corrosion and fatigue. The increasing demand for subsea flowlines, risers, and jumpers in offshore drilling and production is also driving the growth of the offshore application segment.
The global Flexible Pipes For Oil & Gas market is segmented as follows:
By Type
HDPE
PA
PVDF
Others
By Application
Offshore
Onshore
Browse the full “Flexible Pipes For Oil & Gas Market By Type (High-Density Polyethylene (HDPE), Polyamides (PA), Polyvinylidene Fluoride (PVDF), Others), By Application (Offshore, Onshore), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2023 – 2030.”- Report at https://www.zionmarketresearch.com/report/flexible-pipes-for-oil-gas-market
Competitive Landscape
Some of the main competitors dominating the global Flexible Pipes For Oil & Gas market include -
TechnipFMC
National Oilwell Varco
Prysmian Group
SoluForce
Shawcor
Magma Global
FlexSteel Pipeline Technologies
Airborne Oil & Gas
Contitech AG
Aker Solutions
Pipelife Nederland BV
Kongsberg Oil & Gas Technologies
Polyflow LLC
DeepFlex
Swagelining Limited
Wienerberger AG
Schlumberger Limited
Titeflex Corporation
Eaton Corporation
JFE Steel Corporation.
Key Insights from Primary Research:
As per the analysis shared by our research analyst, the global flexible pipes for oil & gas market is expected to grow annually at a promising CAGR of around 3.92% during the forecast period 2023-2030.
In terms of revenue, the global flexible pipes for oil & gas market size was valued at around USD 2.0 billion in 2022 and is expected to reach USD 2.9 billion by 2030.
One of the key factors driving the global flexible pipes for oil & gas market is the increasing demand for oil and gas globally, driven by population growth and urbanization.
Based on type, the high-density polyethylene segment held the largest market share in 2022.
Based on application, the offshore segment held the dominating market share in 2022.
Based on region, the North American region held the largest market share in 2022.
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Regional Analysis:
The North American region held the largest global flexible pipes for oil & gas market share in 2022 and is further predicted to continue this trend during the forecast period. The oil and gas flexible pipe market in North America is expected to grow significantly in the coming years. This can be attributed to the increasing demand for oil and gas in the region, particularly in the United States, which has seen a surge in shale gas production. Moreover, the offshore oil and gas industry in the Gulf of Mexico is also driving the growth of the market in North America. The region is witnessing increasing investments in subsea production and drilling activities, which require the use of flexible pipes for the transportation of fluids and gases.
The North American market is also witnessing technological advancements in flexible pipe design and manufacturing, leading to the development of new and improved products that offer better resistance to corrosion, fatigue, and high pressures. With increasing investments in the oil and gas industry and favorable government regulations, the oil and gas flexible pipe market in North America is expected to witness steady growth in the future.
By Region
North America
U.S.
Canada
Rest of North America
Europe
France
UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Rest of Asia Pacific
The Middle East & Africa
Saudi Arabia
South Africa
Rest of the Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
Recent Developments
In March 2021, TechnipFMC announced the launch of its new flexible pipe product, called Deep Blue. The product is designed to meet the needs of the offshore oil and gas industry, offering enhanced performance and reduced costs. The Deep Blue is a composite pipe that combines the benefits of steel and polymer materials, providing high mechanical strength, corrosion resistance, and flexibility. The launch of Deep Blue marks a significant milestone for TechnipFMC in its efforts to improve the efficiency and sustainability of offshore oil and gas production.
In January 2021, Shawcor announced that it had been awarded a contract by McDermott International to provide coating services for the Tyra Redevelopment Project in the North Sea. Shawcor's coating services will be used to protect flexible pipelines and umbilical during installation and operation. The Tyra Redevelopment Project is one of the largest offshore oil and gas projects in the North Sea, and Shawcor's involvement highlights the company's position as a leading provider of pipeline coating solutions for the industry.
At what CAGR, the global flexible pipes for oil & gas market will expand during forecast years?
What will be the market value of global flexible pipes for oil & gas market by the end of 2030?
What are the factors driving the global flexible pipes for oil & gas market growth?
Which region will contribute notably towards the flexible pipes for oil & gas market value?
Who are the leading players in the global flexible pipes for oil & gas market?
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