Press release
Flexible Pipe Market Size, Trends, Growth Drivers, and Forecast to 2033 || PT Elnusa Tbk, Continental AG, Schlumberger Limited
Flexible Pipe Global Market Report 2024
The Business Research Company presents an extensive market research report on the Flexible Pipe Global Market Report 2024 , furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The flexible pipe market size has grown strongly in recent years. It will grow from $1.11 billion in 2023 to $1.17 billion in 2024 at a compound annual growth rate (CAGR) of 5.2%. The growth in the historic period can be attributed to oil and gas industry growth, offshore drilling and production, pipeline rehabilitation needs, environmental regulations, cost efficiency.
The flexible pipe market size is expected to see strong growth in the next few years. It will grow to $1.44 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. The growth in the forecast period can be attributed to rising demand for durable and versatile piping, increasing demand for flexible pipes, economic growth forecasts, geopolitical stability, market competition dynamics. Major trends in the forecast period include customization and tailored solutions, integration of subsea systems, technological advancements, environmentally conscious solutions, smart pipe technologies.
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Key Market Players:
Major companies operating in the flexible pipe market report are PT Elnusa Tbk, Continental AG, Schlumberger Limited, FlexEnergy LLC, Flexitech Group, Baker Hughes, Evonik Industries AG, Prysmian Group, Solvay S.A., DuPont de Nemours Inc., Saipem S.p.A., NOV Inc., National Oilwell Varco, TechnipFMC plc, Wienerberger AG, Wavin B.V., Cosmoplast Industrial Company LLC, Shawcor Ltd, SoluForce, FlexSteel Pipe, Flexfab Horizons International, Magma Global Ltd, GE Oil & Gas Corporation, Chevron Phillips Chemical LLC, Strohm B.V., The ContiTech Group, Airborne Oil & Gas B.V., Pipelife Nederland B.V., Petromaroc Corporation PLC, Flexmaster Joint Kit Pvt. Ltd.
Market Drivers:
An increase in demand for oil and gas is driving the demand for the flexible pipe market going forward. Oil and gas refer to fuels that are extracted from the earth's surface. Flexible pipes are used in the oil and gas industry to meet technical requirements and solve the geometric constraints of water. The increase in demand for oil and gas is driving the flexible pipe market. For instance, according to Australian petroleum production and exploration association report published in 2021, in 2020, Australian petroleum liquids output climbed marginally to 169 million barrels, a 2% increase compared to preceding year. Furthermore, in May 2021, a report was published by the Petroleum Planning & Analysis Cell (Ministry of Petroleum & Natural Gas); the petroleum product production increased by 15.5% in May 2021 over May 2020, compared to a 30.9% increase in April 2021. Therefore, the increase in demand for oil and gas will drive the growth of the flexible pipe market.
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https://www.thebusinessresearchcompany.com/report/flexible-pipe-global-market-report
The flexible pipe market covered in this report is segmented -
1) By Raw Material: High-density Polyethylene, Polyamides, Polyvinylidene Fluoride, Other Raw Materials
2) By Application: Offshore, On shore
3) By End Use Industry: Oil and Gas, Water Treatment Plants, Chemical and Petrochemicals, Mining, Pharmaceuticals, Food and Beverages, Other End-Use Industries
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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