Flexible Pipes Market to Witness Mounting Growth in Approaching Time

Market Insights

The flexible pipes market was valued at USD 954.3 million in 2021 and is likely to grow at a CAGR of 4.62% during 2022-2028 to reach USD 1314.3 million in 2028.

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 to 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 the 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 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.

Some Key Players mentioned -

The following are the key players mentioned in this report-

• National Oilwell Varco, Inc.,
• GE Oil & Gas Corporation,
• Magma Global Ltd.,
• FlexSteel Pipeline Technologies, Inc.,
• Shawcor Ltd.,
• Pipelife Nederland B.V.,
• Airborne Oil & Gas B.V.,
• Technip FMC Plc.,
• Prysmian Group,
• ContiTech AG.

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