Flexible Pipes For Oil & Gas Market Size, Share, Growth Report 2030

Industry Perspective:

The global flexible pipes for oil & gas market size is set for rapid growth over the forecast period. In terms of revenue, the global Flexible Pipes for Oil & Gas market accounted for USD 2.0 Billion in 2022 and is expected to reach USD 2.9 Billion by 2030, growing at a CAGR of 3.92% during the forecast period. The market report offers quantitative and qualitative insights into the key drivers, opportunities, constraints, and challenges impacting global flexible pipes for the oil & gas industry.

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Flexible Pipes for Oil & Gas Market: Overview

In the oil and gas industry, flexible pipes are highly preferred over rigid pipes due to their ability to withstand harsh environments, high-pressure conditions, and extreme temperatures. Flexible pipes can also be easily installed and maintained, making them a popular choice for both onshore and offshore applications. They are designed to meet the specific needs of each project and can be customized to suit different types of fluids and gases. With the increasing demand for oil and gas worldwide, the demand for flexible pipes is expected to grow, especially in emerging economies where new exploration and production activities are taking place.

Key Insights

• As per the analysis shared by our research analyst, the global flexible pipes for oil & gas market is expected to grow annually at a promising CAGR of around 3.92% during the forecast period 2023-2030.
• In terms of revenue, the global flexible pipes for oil & gas market size was valued at around USD 2.0 billion in 2022 and is expected to reach USD 2.9 billion by 2030.
• One of the key factors driving the global flexible pipes for oil & gas market is the increasing demand for oil and gas globally, driven by population growth and urbanization.
• Based on type, the high-density polyethylene segment held the largest market share in 2022.
• Based on application, the offshore segment held the dominating market share in 2022.
• Based on region, the North American region held the largest market share in 2022.

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Flexible Pipes for Oil & Gas Market: Growth Factors

Rapid urbanization and rise in global population have surged the demand for oil and gas

There are several drivers of the global oil and gas flexible pipe market, which have contributed to its significant growth in recent years. One of the key drivers is the increasing demand for oil and gas globally, driven by population growth and urbanization. This has led to a rise in offshore drilling and exploration activities, where flexible pipes are used extensively. Additionally, the advantages offered by flexible pipes over traditional rigid pipes, such as ease of installation, reduced maintenance, and resistance to corrosion & fatigue, have driven their adoption in the oil and gas industry. Moreover, the development of new technologies and materials, along with increasing investments in the oil and gas industry, has fueled the growth of the flexible pipe market.

Flexible Pipes for Oil & Gas Market: Restraints

Extortionate cost of flexible pipes and the presence of substitutes hinder the growth of the industry to an extent

Despite the significant growth of the oil and gas flexible pipe industry, there are several restraints that are hindering its growth. One of the key restraints is the high cost of flexible pipes compared to traditional rigid pipes, which may limit their adoption in some applications. Additionally, the availability of alternative materials and technologies for oil and gas transportation, such as pipelines and LNG, may also restrain the growth of the flexible pipe market. Furthermore, the COVID-19 pandemic has impacted the oil and gas industry, leading to a decline in demand for oil & gas and a reduction in exploration & drilling activities, which may have a negative impact on the flexible pipe market's growth.

Flexible Pipes for Oil & Gas Market: Opportunities

Persistent technological advancements in flexible pipe design to create ample opportunities for the industry

Despite the restraints, the oil and gas flexible pipe industry presents several opportunities for growth. One of the key opportunities is the increasing demand for renewable energy sources, which is driving investments in the development of offshore wind farms. This has led to a rise in the demand for flexible pipes for subsea power cables, creating a new market opportunity for the flexible pipe industry. Moreover, technological advancements in flexible pipe design and manufacturing are creating opportunities for the industry to develop high-performance and cost-effective products that can cater to a wider range of applications in the oil and gas industry. Additionally, the expanding oil and gas exploration and drilling activities in emerging markets, particularly in Africa and the Middle East, present significant opportunities for the flexible pipe market to expand its global footprint and increase its market share.

Flexible Pipes for Oil & Gas Market: Challenges

Requirement of regular maintenance and inspection of flexible pipes might act as a challenge for the market

The global oil and gas flexible pipe market also faces several challenges, including the need for regular maintenance and inspection to ensure their safe and efficient operation. Moreover, the increasing focus on renewable energy sources and the transition towards a low-carbon economy may also impact the demand for oil and gas and, consequently, the flexible pipe market. Additionally, stringent regulations and safety standards imposed by governments and regulatory bodies may also present challenges to the market's growth.

Flexible Pipes for Oil & Gas Market: Segmentation

The global flexible pipes for oil & gas market is segmented based on type, application, and region.

Based on type, the market is segmented into high-density polyethylene, polyamides, and polyvinylidene fluoride. They are commonly used in the manufacturing of oil and gas flexible pipes. Among these, the high-density polyethylene (HDPE) segment held the largest market share in 2022 and is further predicted to grow rapidly at a remarkable CAGR during the forecast period. This is mainly because HDPE is widely used in the oil and gas industry for its excellent resistance to corrosion, abrasion, and chemicals, as well as its high tensile strength and flexibility. HDPE pipes are also lightweight, which makes them easy to handle and install, reducing overall costs. Moreover, increasing investments in the offshore oil and gas industry, particularly in subsea applications, have driven the demand for HDPE flexible pipes. The material is expected to continue its dominance in the market due to its advantages over other materials and its increasing adoption in the oil and gas industry.

Based on application, the market is bifurcated into the onshore and offshore segments. The offshore segment held the dominating market share in 2022 and is further projected to grow at a notable CAGR during the forecast period. This can be attributed to the increasing exploration and production activities in offshore locations, which require the transportation of fluids and gases from seabed wells to the surface. Moreover, offshore flexible pipes offer several advantages over traditional rigid pipes, including ease of installation, reduced maintenance, and resistance to corrosion and fatigue. The increasing demand for subsea flowlines, risers, and jumpers in offshore drilling and production is also driving the growth of the offshore application segment.

Recent Developments

• In March 2021, TechnipFMC announced the launch of its new flexible pipe product, called Deep Blue. The product is designed to meet the needs of the offshore oil and gas industry, offering enhanced performance and reduced costs. The Deep Blue is a composite pipe that combines the benefits of steel and polymer materials, providing high mechanical strength, corrosion resistance, and flexibility. The launch of Deep Blue marks a significant milestone for TechnipFMC in its efforts to improve the efficiency and sustainability of offshore oil and gas production.
• In January 2021, Shawcor announced that it had been awarded a contract by McDermott International to provide coating services for the Tyra Redevelopment Project in the North Sea. Shawcor's coating services will be used to protect flexible pipelines and umbilical during installation and operation. The Tyra Redevelopment Project is one of the largest offshore oil and gas projects in the North Sea, and Shawcor's involvement highlights the company's position as a leading provider of pipeline coating solutions for the industry.

Flexible Pipes for Oil & Gas Market: Report Scope

Flexible Pipes for Oil & Gas Market: Regional Analysis

North America to dominate the global industry during the forecast period

Based on region, the North American region held the largest flexible pipes for oil & gas market share in 2022 and is further predicted to continue this trend during the forecast period. This can be attributed to the increasing demand for oil and gas in the region, particularly in the United States, which has seen a surge in shale gas production. Moreover, the offshore oil and gas industry in the Gulf of Mexico is also driving the growth of the market in North America. The region is witnessing increasing investments in subsea production and drilling activities, which require the use of flexible pipes for the transportation of fluids and gases.

The North American market is also witnessing technological advancements in flexible pipe design and manufacturing, leading to the development of new and improved products that offer better resistance to corrosion, fatigue, and high pressures. With increasing investments in the oil and gas industry and favorable government regulations, the oil and gas flexible pipe market in North America is expected to witness steady growth in the future.

Flexible Pipes for Oil & Gas Market: Competitive Players

The major players in the global flexible pipes for oil & gas market include:

• TechnipFMC
• National Oilwell Varco
• Prysmian Group
• SoluForce
• Shawcor
• Magma Global
• FlexSteel Pipeline Technologies
• Airborne Oil & Gas
• Contitech AG
• Aker Solutions
• Pipelife Nederland BV
• Kongsberg Oil & Gas Technologies
• Polyflow LLC
• DeepFlex
• Swagelining Limited
• Wienerberger AG
• Schlumberger Limited
• Titeflex Corporation
• Eaton Corporation
• JFE Steel Corporation.

Global Flexible Pipes for Oil & Gas Market is segmented as follows:

By Type

• HDPE
• PA
• PVDF
• Others

By Application

• Offshore
• Onshore

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa