Flexible Pipes Market estimated to grow at impressive CAGR in the forecast period (2018-2023)

Summary:
The report on the Flexible Pipes Market by Stratview Research is an all-inclusive report that talks about the market structure and growth in the forecast period of 2018-2023. The report also offers insights into different market segments and other factors affecting the market.

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Stratview Research’s report states about the segment-wise current market condition, and also offers an estimation about future growths. The report has been generated after accumulating data from various authenticated sources such as journals, white papers, fact book, etc. As per the estimation, Flexible Pipes Market is expected to inflate at impressive CAGR by the forecast period (2018– 2023).

As per the report, the market is segmented by:
• By Raw Material Type: High-Density Polyethylene, Polyamides, Polyvinylidene Fluoride, Others
• By Line: Risers, Flow Lines, Jumpers, Fluid Transfer Lines
• By Application Type: Offshore, Onshore
• By Region: North America, Middle East & Africa, Europe, Asia-Pacific, Rest of the World

The Table of Contents can be gone through here:
https://www.stratviewresearch.com/toc/362/Flexible-Pipes-Market.html

Highlights of the Report:

The market for flexible pipes is likely to be prosperous in the coming years with significant growth opportunities in the entire market value chain. It is estimated that the global flexible pipes market is likely to recover in the coming years and will register a healthy CAGR of 5.3% during the forecast period. 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 than 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 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 the 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.

Based on the raw material type, the flexible pipe 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 2018 to 2023, propelled by its cost-effectiveness and outstanding physical properties.

Based on the application type, the flexible pipes market is segmented as offshore and onshore applications. Offshore applications dominate the market and are expected to maintain its dominance over the next five years as well. The application type is also likely to witness the 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.

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 global flexible pipes 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 its dominance in the coming five years, driven by Saudi Arabia, the UAE, and Nigeria. Recovering oil & gas activities in the region is primarily driving the demand for flexible pipes in the coming years.

Key Players of the Market

The market is consolidated in nature with five major players Airborne Oil & Gas B.V., Contitech AG, Flexsteel Pipeline Technologies Inc., GE Oil & Gas Corporation, Magma Global Ltd. holding together the major share in the market, with Airborne Oil & Gas B.V. being the key player.
Other important firms are National Oilwell Varco, Pipelife Nederland B.V., Prysmian Group, Shawcor Ltd., TechnipFMC Plc.

Features of the Report

The Report discusses about the working of the flexible pipes, the various types, and the growth of the flexible pipes in the global market. Here are the key features of the report:
• Strategic Segmentation
• Competitive Analysis
• Strategic Growth Opportunities
• Swot Analysis
• Key Players
• Forecast Analysis & Future Growth

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Stratview Research
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This release was published on openPR.