High Growth & Smooth Sailing of Flexible Pipes MarketPosted by Stratview Research on October 9th, 2019 The Cutting-Edge Stratview Insights: Stratview Research prognosticates the market to grow at a healthy CAGR of 5.3%over the next five years. The estimates are a result of market analysis over a period of 2012-17, Stratview Research goes to the depth of the issues shaping the market and estimates the most probable future growth rate for the Flexible Pipe Market during the period 2018-23. Identifying the Factors & Avenues of Growth Tending to the most frequent questions and problems that consume the psyches of business visionaries and leaders, the new report of "Stratview Research" on the Flexible Pipe Market respondsto all the significant inquiries. 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. Unravelling the Critical Segments The true picture of the market shall not emerge till the time the market is analyzed from various point of views. Each vantage point gives a better understanding of the market. It would mean a lot understand with clarity that the market has various parts and insights on them might be critical to many players. The market of Flexible Pipe has been divided into categories such as by Raw Material Type, Line Type, Application type, By Region. Insights on each segment can be of critical importance to any player. Each segmented view helps us answer a prominent question, and we bring out the best market intelligence which is of interest to each and every player in the market, no matter where he lies in the value chain. The answers to the prominent questions which are evinced out of above slicing of the market are:
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Airborne Oil & Gas B.V. at the Helm The top 5 players are Airborne Oil & Gas B.V., Contitech AG, Flexsteel Pipeline Technologies Inc., GE Oil & Gas Corporation, Magma Global Ltd. Other important firms are National Oilwell Varco (NOV), Pipelife Nederland B.V., Prysmian Group, Shawcor Ltd., TechnipFMC Plc
Emerging Trends: HDPE to Remain the Growth Engine 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. Offshore to remain dominant application type 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. North America to be the Largest Market 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. Subscribe to the Stratview advantage and Advance Your Business. The insights delivered in our report helps business take bold decisions and make smarter moves. It is the emerging trends that have to be understood well in advance for the firms to take an informed decision. We can help you by giving you the market scenario and its growth hotspots. The decision still rests with you. Like it? Share it! More by this author |