Global spoolable pipes market was valued at $1,345 million in 2016 and is expected to garner $2,107 million by 2023, registering a CAGR of 6.7% from 2017 to 2023. In 2016, the onshore application accounted for approximately five-ninths share of the global market, in terms of revenue.
Spoolable pipes were originally designed for aboveground onshore applications where corrosive conditions caused steel lines to fail within few years. Increased oil & gas production has led rise in adoption of spoolable pipes in onshore and offshore oil & gas transportation from wellheads to production facilities. Ease of installation of spoolable pipes and low cost as compared to steel pipes reduce the overall operational cost, thereby optimizing production output and maximizing the productive life of fields. However, high entry barriers for new entrants due to the time-consuming product approval cycles and stringent regulation for the design, construction, manufacturing, and operation of spoolable pipes may hamper the market growth.
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COVID-19 impact analysis
The outbreak of the COVID-19 pandemic left a significant impact on the global economy. The spoolable pipes market report provides a detailed study of the micro- and macro-economic impacts of the pandemic. Moreover, the analysis depicts the direct impact of COVID-19 on the spoolable pipes market. It recapitulates the detailed information about the market extent and shares owing to the impact of the outbreak. The report also emphasizes on the supply chain and the sales of the spoolable pipes market. Last but not the least; the study also exhibits a post-COVID-19 scenario, portraying different measures and initiatives taken by the government bodies across the world.
The global spoolable pipes market report provides an in-depth study of the market dynamics such as drivers, restraints, opportunities, and the current market scenario. The spoolable pipes market report also focuses on the subjective aspect of the industry. Furthermore, the study takes in the key findings, in regards to market overview and investment opportunities. At the same time, the report also encompasses the competitive landscape including comprehensive profiles of the major frontrunners in the industry. The leading players are considered based on their revenue size, product portfolio, market share, key marketing stratagems, and overall contribution to the market growth.
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Major Inclusions-
- Qualitative as well as quantitative assessment of the market on the basis of the detailed categorization involving both the economic and non-economic factors.
- Analysis at country and regional level, which portrays the share of the product or service in different regions.
- Elaborative company profiles section, which provides different pointers such as key executives, business enactment, company overview, product/service portfolio, R&D expenditure, current scenario, and prime strategies of the key market players.
- The forecasted market outlook of the spoolable pipes market based on recent developments, which incorporate the analysis of drivers, market trends, and growth opportunities.
- The COVID-19 impact on the spoolable pipes market
- Post-sales support and free customization
The key players operating in the global spoolable pipes market are Airborne Oil & Gas B.V., Changchun Gaoxiang Special Pipes Co., Ltd., Flexpipe Inc., FlexSteel Pipeline Technologies, Inc., Future Pipe Industries (L.L.C.), Magma Global Limited, National Oilwell Varco, Inc., Pipelife International GmbH, Polyflow LLC, and Smartpipe Technologies.
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