AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
The market is primarily driven by the increased production of oil & gas, leading to a rise in the adoption of spoolable pipes for efficient transportation.
WILMINGTON, DELAWARE, UNITED STATES, December 5, 2023 /EINPresswire.com/ -- Spoolable pipes market, valued at $1,345 million in 2016, are forecasted to reach $2,107 million by 2023, with a CAGR of 6.7% from 2017 to 2023, according to a recent report by Allied Market Research. These flexible pipes, made of thermoplastics or thermosets with steel, fiber, or aluminum reinforcement, find application in transporting crude and refined petroleum fuels, sewage, slurry, and water. Their high strength, impact resistance, and durability make them a preferred choice, especially in onshore and offshore oil & gas transportation.
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The market is primarily driven by the increased production of oil & gas, leading to a rise in the adoption of spoolable pipes for efficient transportation. The lightweight and design flexibility of thermoplastics facilitate easy installation, reducing operational costs compared to steel pipes. Despite the positive outlook, stringent regulations and time-consuming approval cycles pose challenges for new entrants.
In 2016, onshore applications dominated the market, generating the highest revenue with a CAGR of 7.1% from 2017 to 2023. The study predicts LAMEA to grow at the highest CAGR of 7.3%, followed by Asia-Pacific. Thermoplastics matrix spoolable pipes held the highest market share in 2016 and are expected to grow at a CAGR of 6.8%. Fiber reinforcement, accounting for the highest revenue in 2016, is projected to grow at a significant CAGR of 6.8%.
The U.S. claimed the highest market share in 2016, growing at a CAGR of 6.3%. North America and LAMEA collectively contributed over four-fifths of the global market share in 2016, driven by increased energy demand and exploration activities. Key players in the global spoolable pipes market include Airborne Oil & Gas B.V., Changchun Gaoxiang Special Pipes Co., Ltd., Flexpipe Inc., and others.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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