Spoolable Pipes Market to Reach $2.10 Billion, Globally, by 2023

Superior properties of spoolable pipes, and rise in production of oil & gas have fueled the growth of the global spoolable pipes market. On the other hand, high entry barriers hamper the growth to some extent. Nevertheless, discovery of new offshore oil & gas fields has created multiple opportunities in the segment.

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Portland, OR, June 03, 2019 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global Spoolable Pipes Market accounted for $1.43 billion in 2017 and is expected to hit $2.10 billion by 2023, growing at a CAGR of 6.7% during the forecast period, 2017–2023. The report provides a detailed analysis of key winning strategies, drivers & opportunities, market share, key segments, and competitive scenario.

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Superior properties of spoolable pipes and rise in production of oil & gas have fueled the growth of the global spoolable pipes market. On the other hand, high entry barriers hamper the growth to some extent. Nevertheless, discovery of new offshore oil & gas fields has created multiple opportunities in the segment.

Thermoplastics segment to grow the fastest

Based on matrix type, the thermoplastics segment is a lucrative segment, contributing the highest market share of more than 92% in 2017, and also anticipated to grow at a significant CAGR of 6.8% from 2017 to 2023. The research also analyzes the thermoset segment.

Fiber reinforced segment to be lucrative

Based on reinforcement, the fiber reinforced segment garnered the major share in 2017, comprising more than four-fifths of the total market. This segment is expected to grow at the fastest CAGR of 6.8% from 2017 to 2025. The research also explores steel reinforced and other segments.

North America and LAMEA to dominate in terms of revenue

Based on geography, North America and LAMEA collectively accounted for more than four-fifths of the global market share in 2017 and are expected to dominate during the forecast period. Increased energy demand had led to the rise in onshore and offshore exploration activities which, in turn, has driven the growth. Simultaneously, LAMEA is expected to grow at the highest CAGR of 7.3% through 2017-2023, followed by Asia-Pacific.

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The report analyzes the prominent players operating in the spoolable pipes market and they include Changchun Gaoxiang Special Pipes Co., Ltd., Flexpipe Inc., FlexSteel Pipeline Technologies, Inc., Pipelife International GmbH, Smartpipe Technologies, Future Pipe Industries (L.L.C.), Magma Global Limited, Airborne Oil & Gas B.V., and Polyflow LLC. These players have adopted various market strategies such as partnerships, collaboration, mergers & acquisitions, new product launch to maintain their stand in the industry.

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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.

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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