Expert Market Research’s new report titled “Global flexible hoses market Report and Forecast 2022-2027′, gives an in-depth analysis of the global flexible hose market, rating the market based on its segments such as raw material, application and major regions like North America, Europe , Asia-Pacific, Latin America, Middle East and Africa. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.
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Key highlights of the report include:
Market Overview (2017-2027)
- Historical market size (2021): USD 871.2 million
- Forecast CAGR (2022-2027): 4.67%
- Forecasted Market Size (2027): USD 1145.6 Million
The flexible pipes market has witnessed substantial growth owing to factors such as the growing demand for flexible pipes as a replacement for traditional pipes. The increased incidence of pipe failures and leaks is leading to the adoption of flexible pipes to improve the durability and flexibility of pipes in systems, thereby driving the growth of the market. Flexible hose is also useful for piping systems that regulate pressure and prevent underground drainage due to its corrosion resistance and strong mechanical strength. This increases the demand for flexible pipes in drainage systems in the residential, commercial and industrial sectors, giving further impetus to the growth of the industry. The extensive use of flexible pipes by the oil and gas industry is propelling the market forward. Flexible lines are ideal for improving operational efficiency in the oil and gas industry due to their simple design and ease of use. They are frequently used to standardize operating and installation systems because they can operate effectively in high pressures, vessel movements and fluid pressures. Additionally, the development of innovative flexible pipes capable of performing effectively in the harsh operations commonly seen in the oil and gas industry is expected to drive the growth of the industry. The growing need for environmentally friendly pipes is accelerating the adoption of flexible polyethylene pipes, which is propelling the market forward.
Industry definition and major segments
Flexible pipes are products that can be modified and consist of several layers. Thermoplastic barriers and steel wires are commonly used to improve the corrosion resistance and mechanical strength of pipes. Flexible hoses can be adjusted and customized to meet specific needs, and they are widely used in the oil and gas industry.
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On the basis of raw materials, the market is split into:
- High density polyethylene
- Polyvinylidene fluoride
On the basis of application, the industry is divided into:
Regional flexible pipe markets include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The development of innovative flexible pipes to improve system efficiency and functionality is helping to propel the market forward. Additionally, modern flexible pipe technologies make installation and operation easier, reducing the need for expert labor and driving the growth of the flexible pipe industry. Due to the reliability and durability of innovative flexible pipes, which contribute to the development of offshore fields, they are increasingly being adopted by large companies, which is likely to fuel the expansion of the flexible pipes market. In addition, the simple and lightweight design of the flexible pipe system helps reduce operational risks while improving profitability. Additionally, due to the implementation of various stringent government rules and growing safety concerns regarding workers’ health, the deployment of flexible conduits to detect potential assets is skyrocketing, which is expected to fuel the growth of the flexible pipe industry in the years to come.
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Main market players
Major market players include National Oilwell Varco, Inc., Baker Hughes Company, Magma Global Ltd., FlexSteel Pipeline Technologies, Inc., Shawcor Ltd., among others.
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