Flexible Pipe Market to Hit $1.73B by 2033 at 4.8% CAGR, Says Fact.MR

Innovation and sustainability are driving growth in the flexible pipe market, with increasing demand across industries like oil, gas, and renewable energy.

ROCKVILLE , MD, UNITED STATES, January 8, 2025 /EINPresswire.com/ -- The global flexible pipe market is expected to grow at a compound annual growth rate (CAGR) of 4.8% from 2023 to 2033, from its estimated US$ 1.08 billion in 2023 to US$ 1.73 billion by 2033, according to recently released data from Fact.MR, a market research and competitive intelligence service.

In recent years, the market has gradually grown and changed, encompassing a greater range of applications in addition to its traditional use in the oil and gas sector. The market is the pinnacle of innovation and adaptability, transforming the transportation of gases and fluids in several industries.

Innovation, sustainability, and the need for adaptive solutions to meet the ever-changing demands of an increasingly ecologically conscious society are driving a major transition in the worldwide pipe sector. This market has grown into a robust ecosystem that continues to impact and influence businesses around the world. Start-ups are gaining traction in the chemical business by developing unique materials, forming strategic alliances, and focusing on specific applications.

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Key Drivers of Market Growth

Advanced Production Techniques – Innovations in materials and manufacturing have improved the durability and flexibility of flexible pipes, expanding their application range.

Cost-Effectiveness – Flexible pipes reduce overall project costs, particularly in subsea and offshore environments. Their lightweight design lowers installation and transportation expenses, while reducing the need for heavy-lifting equipment.

Low Maintenance – Designed to withstand harsh conditions, flexible pipes require less frequent maintenance and replacement, ensuring long-term reliability and cost savings.

Sustainability and Reputation – The use of recyclable materials aligns with increasing environmental consciousness, minimizing liabilities and enhancing corporate reputation.

Operational Efficiency – Flexible pipes simplify inventory management and reduce capital expenditures, offering greater adaptability for industries across various sectors.

Why is the Popularity of Flexible Pipe Solutions Increasing?

Flexible pipes are essential in industries such as oil and gas, subsea operations, and renewable energy because they can endure severe temperatures. Their lifespan assures a consistent and dependable flow of resources, which is critical for the continual operations required for industry success.

Flexible pipes help to reduce expenses and environmental effect by requiring fewer replacements, which supports sustainability goals. In today's eco-conscious world, their longer lifespan means less material waste and a lesser chance of environmental damage.

Because of its durability and strength, flexible pipes can be used for a variety of purposes. Their increasing popularity across industries is supported by their ability to save operating costs, offer a high return on investment, and encourage environmentally beneficial behavior.

Key Market Players

National Oilwell Varco (NOV); GE Oil & Gas Corporation; TechnipFMC PLC; The Prysmian Group; Shawcor Ltd; Magma Global Ltd.; FlexSteel Pipeline Technologies, Inc.; ContiTech AG; Pipelife Nederland B.V.; Airborne Oil & Gas; Baker Hughes Company; Prysmian Group; Chevron Corporation; ExxonMobil Corporation; Total S.A.; BP PLC; Royal Dutch Shell PLC

Country-wise Insights

In addition to investing in Asia Pacific, flexible pipe producers can think about expanding their income potential by making investments in nations like Canada, Brazil, the United Kingdom, and Norway. In 2022, North America held a 33% market share for flexible pipes worldwide.

The market is expected to grow at a 4.9% CAGR through 2033, with the United States holding a dominant market share in North America in 2022. In 2022, 38% of the worldwide market was in North America.

Flexible pipes are in high demand due to the nation's substantial involvement in offshore oil and gas exploration and production. Because of their ability to withstand corrosion and adapt to harsh underwater conditions, they are crucial for moving hydrocarbons from the seabed to production platforms as the industry expands its offshore operations.

Competitive Landscape

A combination of long-standing market leaders and possible upstarts define the competitive environment of the flexible pipe market. Key businesses including TechnipFMC, Prysmian Group, National Oilwell Varco, and Magma Global have long dominated the oil and gas sector thanks to their extensive experience, robust infrastructure, and solid foundation.

These industry leaders constantly conduct research and development, pushing the limits of materials and manufacturing techniques in order to remain at the forefront of innovation. Their all-inclusive solutions are appropriate for a variety of uses, such as subsea operations, renewable energy projects, and offshore oil and gas.

In order to reduce expenses and increase the efficiency of offshore oil and gas operations, GE company Baker Hughes (BHGE) introduced a new technology and underwater development technique in January 2019.

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More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the ambulance cot market, presenting historical demand data (2018 to 2023) and forecast statistics for the period (2024 to 2034).

The study divulges essential insights into the market based on product (emergency cots, transport cots), technology (manual cots, pneumatic cots, electric cots), and end user (EMS service providers, hospitals, ambulatory service centers), across six major regions of the world (North America, Europe, East Asia, Latin America, South Asia & Oceania, and MEA).

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About Us:

Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning.

With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay competitive.

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