NEW YORK, March 7, 2016 /PRNewswire/ -- "Growing deepwater oil & gas exploration & production driving the flexible pipes market"
The global flexible pipes market size is estimated to reach USD 1.02 billion by 2020, at a CAGR of 3.7% between 2015 and 2020. Flexible pipes have properties such as high chemical resistance, pressure resistance, and mechanical strength; long durability; leak proof; operate efficiently under high pressure and temperature conditions; and offer ease of installation. These unique properties make flexible pipes the preferred option for offshore oil & gas application, thereby, driving the growth of flexible pipes market.
"Offshore is the largest application of flexible pipes"
Flexible pipes are used in offshore and onshore oil & gas exploration and production process. In offshore applications, flexible pipes are used in deep water, ultra deep water, and sub sea drilling processes. In 2015, the offshore segment accounted for the largest market share of the overall flexible pipes market, in terms of value. The market in this application segment is also estimated to register the highest CAGR between 2015 and 2020.
"Rising demand from Middle East & Africa is a major driver of flexible pipes market"
In 2015, the Middle East & Africa flexible pipes market is projected to register the highest growth rate between 2015 and 2020. Availability of large amount oil & gas reserves in this region is driving the flexible pipes market on a large scale. Saudi Arabia led the demand for flexible pipes in the region due to increased oil & gas exploration activities in the last two–three years.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive interviews were conducted.
The break-up of primary interviews is given below.
- By Company Type - Tier 1 - 33 %, Tier 2 – 60% and Others - 7%
- By Designation - C level - 56%, Director level - 33%, Others - 11%
- By Region - North America – 18.1%, Middle East & Africa-27.3%, Central & South America-9.1%, Asia-Pacific – 36.4%, Europe – 9.1%
The key companies profiled in this market research report are National Oilwell Varco (U.S.), Technip (France), SoluForce (Netherlands), Airborne Oil & Gas B.V. (Netherlands), DeepFlex (U.S.), and GE Oil & Gas (U.K.).
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the flexible pipes market in the oil & gas industry and provides the closest approximations of the revenue numbers for the overall market and the subsegments across different verticals and regions.
2. The report will help the stakeholders to understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to understand the competitors and gain more insights to better their position in the business. The competitive landscape section includes new product developments, partnerships, and mergers & acquisitions undertaken in the market.
Read the full report: http://www.reportlinker.com/p03670104-summary/view-report.html
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