What is the current Flexible Pipe Market size?

The Flexible Pipe Market is projected to register a CAGR of 4.40% during the forecast period (2024-2029) Read More

Who are the key players in Flexible Pipe Market?

National Oilwell Varco (NOV), GE Oil & Gas Corporation, TechnipFMC PLC, The Prysmian Group and Shawcor Ltd are the major companies operating in the Flexible Pipe Market. Read More

Which is the fastest growing region in Flexible Pipe Market?

Middle East and Africa is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Flexible Pipe Market?

In 2024, the North America accounts for the largest market share in Flexible Pipe Market. Read More

What years does this Flexible Pipe Market cover?

The report covers the Flexible Pipe Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Flexible Pipe Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Flexible Pipe Market Trends

Statistics for the 2023 & 2024 Flexible Pipe market trends, created by Mordor Intelligence™ Industry Reports. Flexible Pipe trend report includes a market forecast to 2029 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

Market Trends of Flexible Pipe Industry

Oil and Gas Industry to Drive the Market

The downstream product of oil and gas, i.e., petroleum, is widely used in cosmetic products. With the growth of disposable income and the increasing number of working women, the demand for cosmetics is increasing year-on-year.
This increasing demand for oil and gas requires effective transportation of oil and gas are under enormous physical and chemical stress. Further, the expansion of the transport sector by increasing the number of aviation carriers in the developed region as well as developing regions, along with the increase in the number of owners of passenger cars and vehicles will be driving the market for the oil industry.
The need for oil and gas does not only restrict to vehicles but it is also widely used in industries for running machines as well.
The transport sectors are the highest consumption oil and gas and thus, it will fuel the demand for flexible pipe market.

Oil Supply and Demand, in million barrels per day, in OECD Countries, 2017 - 2020

Understand The Key Trends Shaping This Market

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North America Holds the Largest Market Share

The United States is the largest market for flexible pipes in North America. The country’s newfound shale resources and government policies, which aim at making the country the top oil and gas producer in the next few years, are expected to drive the demand for flexible pipes in the country.
For instance, with the US Department of Interior (DoI) planning to allow offshore exploratory drilling in about 90% of the outer continental shelf (OCS) acreage, under the National Outer Continental Shelf Oil and Gas Leasing Program (National OCS Program) for 2019-2024, the oil and gas sector in the region is expected to open up new opportunities to the market.
Further, according to the US Energy Information Administration, the United States will become a net energy exporter in 2020 and will remain so throughout the forecast period, as a result of large increases in crude oil, natural gas, and natural gas plant liquids (NGPL) production, coupled with slow growth in the US energy consumption.
The increase in demand for oil and gas will, in turn, boost the flexible pipe market during the forecast period in North America.