The Flexible Pipes Market is being driven by Rising investment in upstream oil and gas activity
The Flexible Pipes Market is expected to grow at a CAGR of 2.9% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 181.5 million. In the evolving oil and gas industry landscape, flexible composite pipes have emerged as a preferred solution for shallow and long horizontal wells. Their ease of retraction makes them an ideal choice for this application. Notably, the industry is witnessing a significant shift towards directional drilling, with horizontal wells producing more than double the rate of their vertical counterparts. This trend presents a substantial growth opportunity for the flexible pipes market, as the number of horizontal wells continues to rise. Furthermore, in the challenging subsea environment, oil and gas companies require robust and reliable flexible pipes that can ensure uninterrupted operation.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
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Report Coverage |
Details |
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Page number |
233 |
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Base year |
2024 |
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Historic period |
2019-2023 |
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Forecast period |
2025-2029 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 2.9% |
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Market growth 2025-2029 |
USD 181.5 million |
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Market structure |
market_structure.ucfirst |
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YoY growth 2024-2025(%) |
2.7 |
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Key countries |
China, US, Saudi Arabia, UAE, India, UK, Japan, Brazil, Norway, and Russia |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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The Flexible Pipes Market encompasses the production and application of Flexible Pipe Systems, which include various components such as hose assemblies. Hose assembly design, fabrication, testing, installation, maintenance, repair, and replacement are crucial aspects of this market. Hose assembly standards, regulations, safety, certification, traceability, innovation, and technology are key considerations. Flexible pipe solutions address challenges and present opportunities in industries like oil and gas, mining, and water management.
The Flexible Pipes Market encompasses businesses producing flexible piping solutions, hose assemblies, pipe fittings, flexible connectors, pressure hoses, high-pressure hoses, industrial hoses, and hydraulic hoses. According to Technavio, the global Building Products Market, which includes manufacturers of building components and home improvement products and equipment, is projected to grow significantly. This expansion will be fueled by the burgeoning construction sector, particularly in emerging and developed economies, where the demand for infrastructure development in areas like residential and healthcare facilities is escalating.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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