The latest research study “Spoolable Pipes Market Growth: Global Industry Trends, Size, Share, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global spoolable pipes market reached a value of US$ 1.62 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 2.1 Billion by 2027, exhibiting a CAGR of 4.10% during 2022-2027.
Spoolable pipes are flexible and cylindrical structures that are used to transport substances such as liquid, gases, fluids, powder, slurries, and small solid masses. They are made from polymeric materials reinforced with carbon and glass fiber. Spoolable pipes offer excellent resistance to corrosion, temperature, pressure, chemicals, and impact. They also exhibit properties of fast commissioning, reduced maintenance cost, high fatigue resistance, and enhanced flow rates. Spoolable pipes are utilized to produce gathering lines, jumpers, subsea flowlines, directional drilling, well intervention, and injection lines.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Spoolable Pipes Market Trends and Drivers:
The market is primarily driven by the expanding oil and gas industry. Spoolable pipes are employed to transport crude oil and natural gas on account They also find applications across various wastewater treatment and mining industries due to their resistance to contamination and the minimized risks of microbial contamination.
Besides this, the development and advancement in spoolable composite pipe technology are facilitating the market growth. In addition, the demand for spoolable pipes has escalated as they are cost-effective in terms of manpower required and energy consumed for installation compared to conventional piping systems.
Furthermore, the widespread product adoption for renovating and repairing traditional piping systems is also expected to significantly impact market growth in the upcoming years.
|Spoolable Pipes Market Report Scope|
|Market size value in 2021||US$ 1.62 Billion|
|Market forecast in 2027||US$ 2.1 Billion|
|Growth Rate||CAGR of 4.10% from 2022 to 2027|
|Base year for estimation||2021|
Global Spoolable Pipes Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
List Of Major Key Players :
Baker Hughes Company, FlexSteel Pipeline Technologies Inc., Future Pipe Industries, Hebei Heng An Tai Pipeline Co. Ltd, Magma Global Ltd. (TechnipFMC plc), NOV Inc., Pipelife International Gmbh (Wienerberger AG), Shawcor Ltd., Smartpipe Technologies and Strohm B.V.
The report has segmented the market on the basis of region, matrix type, reinforcement type, application and sales channel.
Breakup by Matrix Type:
Breakup by Reinforcement Type:
- Glass Fiber-Reinforced Spoolable Pipe
- Carbon Fiber-Reinforced Spoolable Pipe
- Steel-Reinforced Spoolable Pipe
Market Breakup by Application:
Breakup by Sales Channel:
- Direct Sales
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.