Global Flexible Pipes Market for Oil and Gas by Application, Type, and Geography - Forecast and Analysis 2023-2027

Flexible Pipes Market for Oil and Gas Industry Forecast 2023-2027

The flexible pipes market for oil and gas industry size is forecast to decrease by USD 151.11 million, at a CAGR of 2.52% between 2022 and 2027. The market's expansion hinges on several crucial factors, notably the escalating investment in upstream gas endeavors, a growing emphasis on unconventional oil and gas exploration and production (E&P) operations, and the heightened need for engineering-grade flexible materials. These elements collectively drive the market's growth trajectory. With increased investments in the upstream sector, companies are exploring new opportunities and technologies to enhance production efficiency. The shift towards unconventional oil and gas activities signifies a strategic pivot in the industry's focus, responding to evolving market dynamics. Simultaneously, the rising demand for engineering-grade flexible materials underscores the industry's quest for innovative solutions that can adapt to diverse operational challenges, further propelling market expansion.

What will be the size of the Market During the Forecast Period?

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Market Segmentation

This report extensively covers market segmentation by application (offshore and onshore), type (HDPE, PA, PVDF, and others), and geography (North America, Middle East and Africa, South America, APAC, and Europe). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

Market Dynamics and Customer Landscape

The market is driven by the increasing demand for Pipeline infrastructure to support Subsea production and Deepwater operations. Oilfield services and Flexible pipe manufacturers play key roles in addressing challenges such as Pipeline integrity and Corrosion resistance. Trends include advancements in Subsea engineering and Flexible pipe solutions, enhancing Pipeline flexibility and accommodating Subsea developments. However, challenges like Pipeline maintenance and ensuring Seabed infrastructure reliability remain critical for sustaining Hydrocarbon production and Offshore drilling activities. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Market Driver

The flexible pipes market is experiencing rapid growth due to advances in manufacturing processes, technological innovations, and the installation of flexible pipes, especially in deepwater drilling and exploration processes. Flexible pipes made of polymers such as PE, PA, PVDF, PP, and PEEK are highly effective in deepwater applications due to their wear- and corrosion-resistance, rigidness, and ability to withstand changes in temperature and deformation caused by stress. Energy security is becoming increasingly important in many countries due to population growth and rapid industrialization, resulting in increased investments in mature fields and the exploration of untapped resources using advanced technologies.

Moreover, unconventional hydrocarbon resources, including shale formations, oil sands, and coal seams, differ from conventional oil and gas wells in their geological characteristics and locations. They include shale oil, shale gas, coalbed methane, tight oil, and tight gas. The crude oil and natural gas obtained from shale formations are called shale oil and shale gas, respectively, while natural gas obtained from coal seams is called coalbed methane. Tight oil and gas refer to crude oil and natural gas obtained from formations with low permeability.

Significant Market Trend

Preference for additive manufacturing is an emerging trend in the market. Additive manufacturing, which is also known as 3D printing, is a manufacturing technology that is used to build 3D objects from computer-aided design models. It is used to manufacture industrial metal products and components. The value chain that includes oil-producing companies and component suppliers is witnessing the rapid adoption of additive manufacturing techniques to manufacture various components, such as condenser tubes, heat exchangers, engines, pipes, metal structures, and tubing components.

Furthermore, additive manufacturing can be used to produce high-cost, low-volume components that have a complex design at a low cost. Such benefits have encouraged manufacturers to test the use of such technologies to build complex structures and components for use in the industry. Moreover, companies in the market are also using 3D printing equipment to manufacture flexible pipes. For instance, MAGMA GLOBAL Ltd.'s m-pipe is manufactured using a fully automated robotic 3D laser print process. The company in 2016, teamed up with Victrex's PEEK thermoplastic composite material and a laser sintering 3D printing setup, to manufacture a 3D printed flexible m-pipe for use in the industry. Thus, such factors will propel the growth of the global flexible pipes for oil and gas market during the forecast period.

Major Market Challenge

The stringent regulations imposed by governments pose significant challenges to the growth of the market. The industry is subject to increasingly strict environmental standards due to the potential hazards of well-drilling activities. These activities can cause severe environmental damage, including oil spills, air and water pollution caused by toxic emissions, and climate change due to methane emissions.

As a result, the number of incidents like this is leading to increased protests from activists and residents against oil and gas drilling. The goal of these protests is to reduce the negative environmental impact of oil and gas exploration and production activities and to hold oil and gas companies accountable for accidents. As a result, these factors are likely to have a negative impact on the market's growth during the forecast period.

Key Market Customer Landscape

The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Market Customer Landscape

Who are the Major Market Players?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Strohm B.V. - The company manufactures thermoplastic composite pipes for subsea production and oil field applications. The key offerings of the company include flexible pipes for oil and gas. 

The market report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:

• BRUGG GROUP AG
• CGH Belgium NV
• Changchun Gaoxiang Special Pipe Co. Ltd.
• Chevron Phillips Chemical Co. LLC
• Continental AG
• Davis Standard LLC
• FlexSteel Pipeline Technologies Inc.
• General Electric Co.
• Hebei Heng An Tai Pipeline Co. Ltd.
• MAGMA GLOBAL Ltd.
• NOV Inc.
• NV Bekaert SA
• Prysmian Spa
• Saudi Arabian Amiantit Co.
• Shandong Saigao Group Corp.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

What is the Fastest-Growing Segment in the Market?

The market encompasses a diverse range of components and activities vital for the smooth functioning of the sector. Key segments within this market include Pipeline infrastructure, Subsea production, and Deepwater operations, which form the backbone of hydrocarbon transportation and extraction activities.Oilfield services play a crucial role in supporting the exploration and production processes, while Flexible pipe manufacturers are pivotal in supplying innovative solutions that meet the industry's demanding requirements. Subsea engineering is another critical segment, focusing on designing and implementing solutions for subsea operations. Pipeline integrity and corrosion resistance are paramount concerns addressed by the market, ensuring the longevity and reliability of pipeline systems. Flexible pipe installation and subsea construction are key activities that enable the deployment of flexible pipe solutions in challenging offshore environments. Pipeline maintenance is essential for ensuring uninterrupted operations, particularly in offshore drilling activities. Hydrocarbon production and oil and gas production are central to the market, driving the demand for flexible pipe solutions that enhance efficiency and safety.

The market share growth by the offshore segment will be significant during the forecast period. Offshore applications refer to the use of flexible pipes to explore and develop petroleum reserves that are located under a water body, such as a river, sea, lake, or ocean. Using flexible pipes on offshore-based structures, including an oil platform, is generally complex and consequently more expensive. 

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The offshore segment was valued at USD 652.20 million in 2017 and continue to grow by 2021. Flexible pipes are largely used in offshore applications, such as chemical injection pipes and risers. They possess properties like wear- and corrosion-resistance, rigidness, and mechanical strength to withstand changes in temperature and deformation caused by stress, which make them highly effective in underwater applications. The applications of flexible pipes in products, such as coiled tubing, umbilical pipes, and risers for offshore production activities, are projected to drive the market in the industry. Furthermore, governments companies have also undertaken several initiatives for the growth of the offshore segment. For instance, in July 2022, the US government planned to allow drilling activities in its offshore oil and gas areas along the gulf of Mexico. The government also eased regulations associated with safety in offshore oil and gas drilling activities. Therefore, these factors will boost segment during the forecast period.

Which are the Key Regions for the Market?

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North America is estimated to contribute 36% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

The US was the largest contributor to the growth of the market in North America in 2022. The average capital expenditure on developing new oil and gas infrastructure, primarily in the US, will likely be in the range of USD790-USD800 million between 2018 and 2035, owing to continued robust developments in unconventional resources and their strong market demand.

Furthermore, the US and Canada are among the large oil and gas producers in the world. Oil and gas production output in these countries has increased significantly due to unconventional E&P activities, such as drilling in shale in the US and oil sands in Canada. According to the US Energy Information Administration (EIA), the US produced around 6.5 million barrels of crude oil per day from tight oil reserves in 2018. Considerable E&P activities in unconventional sources of oil and gas, such as oil sands and shale, are responsible for increasing the overall production of crude oil and gas in North America. Thus, an increase in the E&P of such crude oil and gas resources results in a rise in the demand for flexible pipes in the region.

Segment Overview

The report forecasts market growth by revenue at global, regional & country levels and provides a market research and growth analysis of the latest trends and growth opportunities from 2017 to 2027. 

• Type Outlook 
  • HDPE
  • PA
  • PVDF
  • Others

• Application Outlook 
  • Offshore
  • Onshore

• Region Outlook 
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa
  • South America
    • Chile
    • Brazil
    • Argentina

Market Analyst Overview

The market is witnessing significant growth due to various factors such as flexible pipe technology, subsea pipelines, and flowline systems. These advancements are crucial for enhancing pipeline infrastructure and supporting deepwater operations in the oil and gas sector. Companies specializing in oilfield services and flexible pipe manufacturers play a pivotal role in developing and deploying flexible risers and subsea engineering solutions.One of the key drivers of this market is the demand for pipeline integrity and corrosion resistance in high-pressure applications, especially in marine pipelines and subsea production systems. The need for flexible hose systems and oilfield equipment is also growing, particularly for hydrocarbon transportation and offshore drilling activities.

However, challenges such as pipeline maintenance and pipeline reliability remain significant concerns in the industry. Nevertheless, advancements in flexible pipe design and pipeline monitoring technologies are addressing these challenges and improving offshore platforms and subsea installations.Overall, the flexible pipes market is characterized by innovations in pipeline flexibility and seabed infrastructure, driven by ongoing subsea developments and pipeline technology enhancements. With the use of advanced flexible pipe materials and pipeline connectors, the industry is witnessing increased efficiency and reliability in offshore engineering projects.

Furthermore, the market is witnessing significant growth driven by various factors such as flexible pipe installation, subsea construction, and hydrocarbon production demands. These factors highlight the critical role of subsea installations and flexible pipe solutions in facilitating efficient operations in the oil and gas sector. The market also sees a rise in demand for pipe laying vessels and flexible riser systems due to their capability to withstand challenging offshore environments. Subsea operations are increasingly relying on advanced flexible pipe solutions to enhance productivity and safety during hydrocarbon extraction and transportation processes.

Market Scope
Report Coverage	Details
Page number	173
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Decelerate at a CAGR of 2.52%
Market growth 2023-2027	USD 151.11 million
Market structure	Fragmented
YoY growth 2022-2023(%)	2.65
Regional analysis	North America, Middle East and Africa, South America, APAC, and Europe
Performing market contribution	North America at 36%
Key countries	US, Canada, Saudi Arabia, China, and Russia
Competitive landscape	Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks
Key companies profiled	BRUGG GROUP AG, CGH Belgium NV, Changchun Gaoxiang Special Pipe Co. Ltd., Chevron Phillips Chemical Co. LLC, Continental AG, Davis Standard LLC, FlexSteel Pipeline Technologies Inc., General Electric Co., Hebei Heng An Tai Pipeline Co. Ltd., MAGMA GLOBAL Ltd., NOV Inc., NV Bekaert SA, Prysmian Spa, Saudi Arabian Amiantit Co., Shandong Saigao Group Corp., Shawcor Ltd., Shell plc, Strohm B.V., TechnipFMC plc, and Wienerberger AG
Market dynamics	Parent market analysis, market growth analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the market between 2023 and 2027
• Precise estimation of the market size and its contribution to the parent market
• Accurate predictions about upcoming market trends and changes in consumer behavior
• Growth of the industry across North America, Middle East and Africa, South America, APAC, and Europe
• A thorough market growth and forecasting analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive market forecast analysis of factors that will challenge the growth of the flexible pipes for oil and gas market companies

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