Global Flexible Pipes Market for Oil and Gas Industry 2016-2020
About Flexible Pipes
Flexible pipes are dynamic risers that are connected to subsea production equipment in topside facilities, which permit the flow of oil, gas, and water through them. Flexible pipes are also used on the seabed to tie wells and subsea equipment together. These pipes are largely used in the oil and gas industry, as they have an intrinsic property to reversibly soften on heating and harden on cooling. These pipes also offer distinctive properties, such as high thermal resistance, chemical inertness, superior mechanical properties, corrosion resistance, and excellent adhesion.
Technavio’s analysts forecast the global flexible pipes market for oil and gas industry to grow at a CAGR of 3.56% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global flexible pipes market for oil and gas industry for 2016-2020. To calculate the market size, the report considers the revenue generated through the sales of flexible pipe products by type such as HDPE, PA, PVDF, and others in the offshore and onshore applications.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Flexible Pipes Market for Oil and Gas Industry 2016-2020
Technavio recognizes the following companies as the key players in the global flexible pipes market for oil and gas industry: Airborne Oil & Gas, General Electric Oil and Gas, National Oilwell Varco (NOV), SoluForce, and Technip.
Other Prominent Vendors in the market are: ContiTech AG, DeepFlex, FlexPipe Systems, FlexSteel Pipeline Technologies, and Prysmian.
Commenting on the report, an analyst from Technavio’s team said: “Increasing number of horizontal wells will be a key trend for market growth. Flexible composite pipes are used in shallow and long horizontal wells. These composite pipes are the preferred choice as they can be easily retracted from these wells. The oil and gas industry is currently experiencing a shifting trend with respect to drilling pipes. Directional drilling is growing rapidly in comparison to vertical drilling. The production rate of horizontal wells is more than double in comparison to verticals wells. An increase in the number of horizontal wells is a potential growth opportunity for the market owing to the high application of flexible pipes in these wells.”
According to the report, demand for non-corrosive flexible pipes will be a key driver for market growth. The cost of repairing and replacing corroded pipes is subject to factors such as location, temperature, and materials. A large amount is spent annually across the globe in repairing and replacing piping systems, cracking transport pipeline, and others. Flexible pipes are widely used to reduce such expenses, as these pipes have high strength, durability, non-corrosiveness, and are lightweight. These properties make them a preferred alternative to steel and concrete pipes used in the oil and gas industry.
Further, the report states that stringent government regulations will be a challenge for the market. The standards and environmental regulations in the oil and gas industry are becoming increasingly stringent owing to the hazardous potential of well-drilling activity. Drilling activity in subsurface reservoirs can create hydraulic channels between contaminated surface water and the relatively pure underground water. This might contaminate the drinking water supply. Numerous legislative acts such as the Clean Water Act (1972), the Oil Pollution Act (1990), and the New York’s State Environmental Quality Review Act (1975) have been established to prevent such issues.
Airborne Oil & Gas, General Electric Oil and Gas, National Oilwell Varco (NOV), SoluForce, Technip, ContiTech AG, DeepFlex, FlexPipe Systems, FlexSteel Pipeline Technologies, Prysmian.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook