Press release
Expanding Flexible Pipe Market: Robust CAGR, Market Size Predictions, and Key Trends Driving Growth
Flexible Pipe Market
What Is The Projected Market Size Of The Global Flexible Pipe Market And Its Growth Rate?
Significant growth has been observed in the flexible pipe market:
- In 2024, the market size was $1.16 billion
- The market value is set to increase to $1.22 billion in 2025, displaying a CAGR of 5.2%
- The forecasted market size by 2029 is $1.54 billion, propelled by a CAGR of 6.1%
The market growth is attributed to the rising demand for durable and versatile piping, economic growth forecasts, market competition dynamics, and increasing demand for flexible pipes.
What Is Driving The Growth In The Flexible Pipe Market?
A key driver for the growth of the flexible pipe market is the surge in demand for oil and gas. As essential fuels extracted from the earth's surface, this increased demand drives the market for flexible pipes, which are used in the oil and gas industry to meet technical requirements and overcome geometric constraints of water. For example, the Energy Information Administration reported in April 2024 that natural gas consumption in the electric power sector rose by 6% in July and August 2023 compared to the same months in 2022. Thus, the growth of the flexible pipe market is directly tied to the increasing demand for oil and gas.
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Who Are the Key Players Driving Flexible Pipe Market Growth?
Major companies in the flexible pipe market include:
- PT Elnusa Tbk
- Schlumberger Limited
- FlexEnergy LLC
- Flexitech Group
- Baker Hughes
- Saipem S.p.A.
- NOV Inc.
- National Oilwell Varco, TechnipFMC plc, Wavin B.V.
- Cosmoplast Industrial Company LLC
- Shawcor Ltd
- SoluForce
- FlexSteel Pipe
- Flexfab Horizons International
- Magma Global Ltd
- GE Oil & Gas Corporation
- Strohm B.V.
- The ContiTech Group
- Airborne Oil & Gas B.V.
- Pipelife Nederland B.V.
- Flexmaster Joint Kit Pvt. Ltd.
What Are The Key Trends In The Flexible Pipe Market?
Key trends in the forecast period include:
- Customization and tailored solutions
- Integration of subsea systems
- Technological advancements
- Environmentally conscious solutions
- Smart pipe technologies
What Are The Segments Of The Global Flexible Pipe Market?
The flexible pipe market is segmented by:
- Raw Material: High-density Polyethylene, Polyamides, Polyvinylidene Fluoride, Other Raw Materials
- Application: Offshore, Onshore
- End Use Industry: Oil And Gas, Water Treatment Plants, Chemical And Petrochemicals, Mining, Pharmaceuticals, Food And Beverages, Other End-Use Industries
Which Region Leads The Flexible Pipe Market?
In 2024, North America dominated the flexible pipe market, whilst the Middle East and Africa are expected to be the fastest-growing region in the forecast period. The flexible pipe market report covers Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Flexible Pipe Market Global Market Report?
- Market Size Analysis: Analyze the Flexible Pipe Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Flexible Pipe Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Flexible Pipe Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Flexible Pipe Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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