Spoolable Pipes Market Envisioning Elevation Market Size's Anticipation of New Heights

The global spoolable pipes market, as reported by Allied Market Research, was valued at $1,345 million in 2016 and is projected to reach $2,107 million by 2023, with a compound annual growth rate (CAGR) of 6.7% from 2017 to 2023. Spoolable pipelines are flexible pipes primarily used for the transportation of crude and refined petroleum fuels, such as oil and natural gas, as well as other fluids like sewage, slurry, and water. These pipes are typically made of thermoplastics or thermosets with reinforcement materials such as steel, fiber, or aluminum, offering high strength, impact resistance, and durability.

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The market is primarily driven by the increased adoption of spoolable pipes in both onshore and offshore oil and gas transportation due to their lightweight nature, high design flexibility, and cost-effectiveness compared to traditional steel pipes. However, the market growth may be hindered by high entry barriers for new entrants due to stringent regulations governing the design, construction, manufacturing, and operation of spoolable pipes.

In terms of applications, the onshore segment accounted for the largest share of the market revenue in 2016, with a CAGR of 7.1% from 2017 to 2023. Additionally, the discovery of new offshore oil and gas fields presents further opportunities for market growth.

Geographically, the Latin America, Middle East, and Africa (LAMEA) region is expected to experience the highest CAGR of 7.3% from 2017 to 2023, followed by the Asia-Pacific region. North America, particularly the United States, dominated the market in 2016, with a CAGR of 6.3%.

Key players in the global spoolable pipes market include Airborne Oil & Gas B.V., Changchun Gaoxiang Special Pipes Co., Ltd., Flexpipe Inc., FlexSteel Pipeline Technologies, Inc., Future Pipe Industries (L.L.C.), Magma Global Limited, National Oilwell Varco, Inc., Pipelife International GmbH, Polyflow LLC, and Smartpipe Technologies.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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