Flexible Pipe Market Size to experience an impressive growth of 5.3%
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.
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Flexible Pipe Market Insights:
By Raw Material Type:
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.
By 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.
By Region:
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.
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Market structure: Overview, industry life cycle
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·
Market environment analysis: Growth drivers and
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Market trend and forecast analysis
·
Market segment trend and forecast
·
Competitive landscape and dynamics: Market share,
product portfolio, product launches, etc.
·
Attractive market segments and associated growth opportunities
·
Emerging trends
·
Strategic growth opportunities for the existing and
new players
· Key success factors
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