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Global Flexible Pipes for Oil and Gas Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024
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Global Flexible Pipes For Oil And Gas Market Is Valued At 4323.91 Million USD In 2018
A flexible pipe is made up of several different layers. The main components are leakproof thermoplastic barriers and corrosion-resistant steel wires. The helically wound steel wires give the structure its high-pressure resistance and excellent bending characteristics, thus providing flexibility and superior dynamic behaviour. This modular construction, where the layers are independent but designed to interact with one another, means that each layer can be made fit-for-purpose and independently adjusted to best meet a specific field development requirement.
The global Flexible Pipes for Oil and Gas market is valued at 4323.91 million USD in 2018 and is expected to reach 7169.56 million USD by the end of 2025, growing at a CAGR of 7.49% between 2018 and 2025. The growing acceptance of engineering-grade flexible materials, such as polyether ether ketone (PEEK) and polyvinylidene fluoride (PVDF), is driving the implementation of flexible pipes in the oil and gas industry. These flexible materials have high chemical, corrosion, and wear-resistance, low weight, and mechanical properties, which have made them a viable alternative for various applications in the oil and gas industry.
The market for Flexible Pipes for Oil and Gas is concentrated with players such as Technip, GE Oil & Gas (Wellstream), National Oilwell Varco (NKT Flexibles), Shawcor (Flexpipe Systems), Airborne Oil & Gas, SoluForce (Pipelife), H.A.T-FLEX, Polyflow, LLC, Prysmian, Aerosun Corporation, Changchun GaoXiang Special pipe, Contitech AG and so on . Among them, Technip, GE Oil & Gas (Wellstream) and National Oilwell Varco (NKT Flexibles) is the leader with about 88% revenue market share in 2018. The market is characterized by well diversified local, regional, and global vendors. However, the international players dominate this market owing to their capacity to expand their reach through strong distribution channels.
Riser technology is one of the most challenging areas for the offshore industry as it deals with the problems associated with undertaking cutting-edge field developments with increasingly difficult reservoir environments and ultra-deepwater conditions, 58% of flexible pipes installed are risers.
The leading companies own the advantages on better performance, more abundant product’s types, better technical and impeccable after-sales service. Consequently, they take the majority of the market share of high-end market. Looking to the future years, the slow downward price trend in recent years will maintain. As competition intensifies, prices gap between different brands will go narrowing. Similarly, there will be fluctuation in gross margin.
The industry is expected to remain innovation-led, with frequent acquisitions and strategic alliances adopted as the key strategies by the players to increase their industry presence. Market stays in mature period with a clear concentration. Meanwhile, optimize product mix and further develop value-added capabilities to maximize margins. Manufacturers can take advantage of this situation by reinforcing their production units and supply-chains to avoid any delay in production turn-around-times (TAT) and supply-lead-times.
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