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Market Overview of Global Flexible Pipe market:
According to our latest research, the global Flexible Pipe market looks promising in the next 5 years. As of 2022, the global Flexible Pipe market was estimated at USD 1446.09 million, and it's anticipated to reach USD 1872.21 million in 2028, with a CAGR of 4.4% during the forecast years.
A flexible pipe has a composite construction of layers of various materials that enable large amplitude deflections without causing damage to the pipe. It comprises leakproof thermoplastic barriers and corrosion-resistant steel wires, which gives the pipe high-pressure resistance, flexibility, and superior dynamic behavior. The most common design of Flexible Pipe is an unbonded structure, in which each component forms a cylindrical layer, and the relative sliding between the layers makes the pipe flexible. Generally speaking, Flexible Pipe includes skeleton layer, inner lining layer, compressive armor layer, wear-resistant layer, tensile armor layer, thermal insulation layer and outer cladding layer.
Influence of COVID-19 Outbreak on Flexible Pipe Industry Development
Before COVID, oil demand fell, partly because of an economic slowdown caused by the U.S.-China trade war, while prices fell due to a glut of oil production. The subsequent standoff between Russia and OPEC member Saudi Arabia sent oil prices down even further.
Containment measures and economic disruptions related to the COVID-19 outbreak have slowed global production and mobility. The epidemic has led to economic stagnation in countries around the world, factory shutdowns, international flights grounded, and transportation demand plummeting. These reasons lead to a sharp drop in oil demand. As countries went into lockdown to contain the pandemic, air travel stopped, shops and restaurants closed and people stopped driving to work and stayed home. Global oil demand fell by as much as 30 million barrels a day. In May, U.S. oil production fell by nearly 2 million barrels per day, the largest monthly decline since 1980. The International Energy Agency (IEA) has said it expects 2020 to see the biggest drop in oil demand on record. The agency's September monthly report predicted that global oil demand may decrease by more than 8.14 million barrels per day.
Various countries have also introduced a series of policy measures to support the normal operation of the oil and gas industry. For example, since March 20, 2020, Argentina has imposed mandatory restrictions on daily life. These include a ban on the movement of citizens within the country and exemptions for citizens performing activities and services declared necessary to comply with the ban. As the government has classified oil and gas activities as essential, companies are likely to continue operating with minimal staff to ensure continuous operations and maintenance. In Alberta, Canada, the provincial government announced a bailout for struggling oil and gas producers. These measures include: a temporary waiver of fees charged to the oil and gas industry by the Alberta energy regulator, estimated to total $113 million.
Falling oil prices and reduced demand will lead to reduced exploration and exploitation activities of oil production and exploration companies, resulting in reduced demand for Flexible Pipe in the market, which is not conducive to the development of the industry. But in the future, with the improvement of the epidemic situation, the recovery of oil demand and the rise of prices, the development of the Flexible Pipe industry will gradually return to normal.
The threat posed by renewable energy
In the long run, with the development of the world economy and the advancement of global carbon neutrality policies, non-fossil energy and renewable energy have grown rapidly, the concept of low-carbon energy has been accepted, and low-carbon energy practices have achieved certain results. The energy structure is more diversified. As a result, the share of fossil fuels in total final energy consumption is constantly being replaced by renewable energies. According to the "BP World Energy Outlook (2022)" forecast, in the future, the proportion of fossil fuels in total final energy consumption will drop from about 65% in 2019 to 30%-50% in 2050. For Flexible Pipe industry companies, industry company products are mainly used in the oil and gas industry. In the future, with the continuous development of renewable energy, the industry development of the oil and gas industry is also challenged, and the market growth rate may slow down. Therefore, the Flexible Pipe industry is also facing the threat of the renewable energy belt.
More and more Flexible Pipes replace traditional pipelines
Growing demand for flexible pipes as an alternative to traditional pipes is helping the growth of the flexible pipes market. The increasing prevalence of leaks and pipe failures is surging the deployment of flexible pipes to increase the durability and flexibility of pipes in the system, thereby boosting the market growth. Corrosion, for example, is a major challenge for metal piping. With the passage of time, corrosion-induced strength reduction and pitting and perforation are difficult to avoid. The existence of these defects will reduce the safety of metal pipeline operation, causing leakage, forced pressure reduction, and even bursting. Additionally, Flexible Pipe's corrosion resistance and high mechanical strength make it ideal for piping systems to regulate pressure and prevent subsurface drainage. This has increased the demand for flexible pipe in drainage systems from the residential, commercial, and industrial sectors, which is providing further impetus to the industry growth. Therefore, more and more flexible pipes will replace traditional pipes, which will be one of the opportunities for the development of the industry.
Region Overview:
In 2021, the share of the Flexible Pipe market in Europe stood at 49.83%.
Company Overview:
TechnipFMC is the most experienced provider of integrated solutions for subsea field developments based on a broad range of field-proven products and services. In the early 1970s, TechnipFMC pioneered flexible pipe technology and used it to provide clients with ever-higher levels of reliability and quality in the world's harshest and deepest offshore environments.
Baker Hughes Incorporated is an energy technology company with a diversified portfolio of equipment and service capabilities across the energy and industrial value chains. Including four departments: oilfield services, oilfield equipment, turbomachinery and process solutions, and digital solutions. Wellstream Holdings plc designs and manufactures flexible piping systems for the oil and gas industry. In December 2010, shortly after GE agreed to buy Dresser, General Electric agreed to buy the company. In July 2017, Baker Hughes merged with GE Oil & Gas.
TechnipFMC is one of the major players operating in the Flexible Pipe market, holding a share of 22.71% in 2022.
Segmentation Overview:
It is divided into Onshore and Offshore according to the different application environments for which the product is suitable.
As for product types, the Offshore segment held the largest market share in 2021.
Application Overview:
According to different end application industries, it is divided into Oil and Gas, Water Treatment Plants, Chemical and Petrochemicals, Mining, etc.
By application, the Oil and Gas segment occupied the biggest share from 2017 to 2022.
This report covers a research time span from 2018 to 2028, and presents a deep and comprehensive analysis of the global Flexible Pipe market, with a systematical description of the status quo and trends of the whole market, a close look into the competitive landscape of the major players, and a detailed elaboration on segment markets by type, by application and by region.
Key Takeaways from the Global Flexible Pipe Market Report:
Market Size Estimates: Flexible Pipe market size estimation in terms of value and sales volume from 2018-2028
Market Trends and Dynamics: Flexible Pipe market drivers, opportunities, challenges, and risks
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Flexible Pipe market
Segment Market Analysis: Flexible Pipe market value and sales volume by type and by application from 2018-2028
Regional Market Analysis: Flexible Pipe market situations and prospects in North America, Asia Pacific, Europe, Latin America, Middle East, Africa
Country-level Studies on the Flexible Pipe Market: Revenue and sales volume of major countries in each region
Flexible Pipe Market Competitive Landscape and Major Players: Analysis of 10-15 leading market players, sales, price, revenue, gross, gross margin, product profile and application, etc.
Trade Flow: Import and export volume of the Flexible Pipe market in major regions.
Flexible Pipe Industry Value Chain: Flexible Pipe market raw materials & suppliers, manufacturing process, distributors, downstream customers
Flexible Pipe Industry News, Policies & Regulations
Key players in the global Flexible Pipe market are covered in Chapter 12:
Evonik Industries AG
DuPont de Nemours Inc.
Strohm B.V.
NOV Inc.
Continental AG
Solvay S.A.
Pipelife Nederland B.V. (Wienerberger AG)
Prysmian S.p.A.
Baker Hughes Company
General Electric Company
FlexSteel Pipeline Technologies Inc.
TechnipFMC plc
Shell plc
Chevron Phillips Chemical Company LLC
In Chapter 2 and Chapter 15.1, based on types, the Flexible Pipe market from 2018 to 2028 is primarily split into:
Onshore
Offshore
In Chapter 3 and Chapter 15.2, based on applications, the Flexible Pipe market from 2018 to 2028 covers:
Oil and Gas
Water Treatment
Chemical & Petrochemicals
Mining
Others
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions are covered in Chapter 7, 8, 9, 10, 11, 15.3, 15.4:
North America (Covered in Chapter 7)
United States
Canada
Asia-Pacific (Covered in Chapter 8)
China
Japan
India
South Korea
Southeast Asia
Australia
Others
Europe (Covered in Chapter 9)
Germany
France
UK
Italy
Spain
Russia
Poland
Others
Latin America (Covered in Chapter 10)
Mexico
Brazil
Argentina
Others
Middle East and Africa (Covered in Chapter 11)
GCC Countries
Africa
Others
The data of this research report is mainly obtained from industry associations, magazines, press releases, national customs, annual reports of enterprises, expert interviews, paid databases and other channels with authority. It also provides scientific forecasts of the industry's core development indicators through professional analysis and forecasting models.
In short, whatever role you take in this industry value chain, this report will help you or your company to acquire a systematic and in-depth understanding of the industry.
Chapter Outline
This report consists of 16 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 starts the report with an overview of the Flexible Pipe market, as well as the definitions of the target market and the subdivisions. Through the presented global market size, regional market sizes, and segment market shares, you will be able to draw an overall and comprehensive picture of the market situation. Meanwhile, the research method and data source will be shared in this chapter.
Chapter 2 and Chapter 3 breaks down the market by different types and applications, with historic data presented in metrics of sales volume, revenue, market share and growth rate.
Chapter 4 elaborates on market dynamics and future trends in the industry, which contains an in-depth analysis of market drivers, opportunities, challenges, and risks. Other essential factors that will have a major impact on the market, i.e., industry news and policies in recent years, global inflation, and regional conflict, are also taken into consideration.
Chapter 5 compares the sales volume and revenue of the major regions across the globe, which enables the readers to understand the regional competitive pattern.
Chapter 6 is the analysis of the trade flow. Import volume and export volume are revealed on a regional level.
Chapters 7-11 focus on country-level studies. Data from the major countries in each region are provided, showing the current development of the industry in different countries. Besides, you will also find qualitative trends analysis under global inflation under each of the 6 regions.
Chapter 12 first up presents the competitive landscape by displaying and comparing the revenues, sales volumes, and market shares of the top players in the market, followed by a company-by-company analysis of all the major market participants with introductions of their products, product applications, company profiles, and business overview. In addition, their competitiveness is manifested through numbers of sales volume, revenue, price, gross and gross margin.
Chapter 13 looks into the whole market industrial chain, ranging from the upstream key raw materials and their suppliers to midstream distributors and downstream customers, with influences of global inflation taken into consideration.
Chapter 14 is perfect for those who wish to develop new projects in the industry. This chapter sheds a light on industry entry barriers and gives suggestions on new project investments.
Chapter 15 forecasts the future trend of the market from the perspective of different types, applications, and major regions.
Chapter 16 is the conclusion of the report which helps the readers sum up the main findings and insights.
Years considered for this report:
Historical Years: 2018-2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2023-2028