Flexible Pipe Market Worth 1.02 Billion USD by 2020
PUNE, India, February 23, 2016 /PRNewswire/ --
The report "Flexible Pipe Market by Material (HDPE, PA, PVDF, and Others), by Application (Onshore, and Offshore), by Region - Global Trends & Forecasts to 2020", published by MarketsandMarkets, The market size is estimated to grow from the estimated USD 0.82 Billion in 2015 to USD 1.02 Billion by 2020, at a CAGR of 3.7% between 2015 and 2020.
Browse 78 market data Tables and 56 Figures spread through 149 Pages and in-depth TOC on "Flexible Pipe Market"
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The market is driven by the increasing need for energy and high investments in oil & gas exploration and production sector. The flexible pipes market in the Middle East & Africa and Central & South America are projected to witness strong growth in the next five years. The demand for flexible pipes across these regions is reinforced by increasing oil & gas exploration activities in Saudi Arabia, Tanzania, Brazil, and Mexico.
North America: The Largest Market for Flexible Pipes
North America is currently the largest market for flexible pipes in the world. The U.S. is the largest consumer of flexible pipes in this region.
The favourable market forces driving the market for flexible pipes in North America are:
- Presence of major manufacturers of flexible pipes in the region
- Growing oil & gas explorations in the region
- Discovery of shale oil & gas
Offshore: The Largest Application Segment of Flexible Pipe Market
Flexible pipes are used in the oil & gas industry in both offshore and onshore exploration & production. Onshore and offshore are the main applications segments considered in the report. In 2015, the offshore application segment is estimated to account for the largest market share, in terms of value. This application segment is also projected to witness the highest CAGR between 2015 and 2020.
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HDPE: The Largest Material Segment of Flexible Pipe Market
Flexible pipes are manufactured with materials such as HDPE, PA, PVDF, and others. These are the widely used materials for flexible pipes manufacturing. On the basis of material, HDPE accounted for the largest share of the flexible pipes market in 2015 and is also projected to witness the highest CAGR between 2015 and 2020.
The key players in the global Flexible Pipe Market 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.), among others.
This report estimates the market size, in terms of value, for the Flexible pipes and forecasts the market size till 2020. The report includes the market segmentation on the basis of application-offshore and onshore, material- HDPE, PA, PVDF, and others, and region Asia-Pacific, Europe, North America, Middle East & Africa, and Central & South America. The regions are further segmented by key country markets such as China, India, Indonesia, Malaysia, Russia, the U.K., Norway, Turkey, Denmark, the U.S., Canada, Saudi Arabia, the U.A.E., Qatar, Angola, Nigeria, Tanzania, Mozambique, Brazil, and Mexico. The report also provides c profiles of the leading companies and competitive strategies adopted by the major market players in the flexible pipes market.
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