Spoolable Pipe Market to grow beyond US$ 1,144.4 million by 2024
February 19, 2020
Spoolable Pipe Market Overview:
The global spoolable reinforced pipe market offers a healthy growth opportunity for the entire ecosystem and its size is projected to reach US$ 1,144.4 million in 2024. Spoolable reinforced pipe is also known as Thermoplastic Composite Pipe (TCP) and Reinforced Thermoplastic Pipe (RTP). The long-term business outlook seems promising with good growth potential over the next five years. An expected recovery in the rigs or wells count; cost competitiveness of spoolable reinforced pipes over steel pipes; excellent corrosion and erosion resistance; and higher preference of spoolable reinforced pipe over steel ones in low-diameter pipes.
Report Overview:
This report, from Stratview Research, studies the global spoolable reinforced pipe market over the forecast period of 2019 to 2024. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
- Strategic segmentation
- Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Detailed Competitive Rivalry landscaping
- Market trend and forecast analysis
- Future Growth Boulevards
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Spoolable Pipe Market Segment Insights:
Fiber Reinforcement Segment: The growth engine
The spoolable reinforced pipe market is segmented based on reinforcement type as Fiber Reinforcement and Steel Reinforcement. Fiber reinforcement segment is further divided into glass fiber reinforcement, carbon fiber reinforcement, and others, which are mainly aramid and polyester reinforcements. The fiber-reinforced spoolable pipe is likely to gain more market traction in the coming years by replacing steel pipes in the high-pressure applications.
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https://www.stratviewresearch.com/toc/142/spoolable-pipe-market.html
Dominance of: Onshore segment
Based on the application type, the spoolable pipe market is segmented into Onshore, Offshore, Downhole, Water, and Others. The Onshore segment is further segmented into production and gathering lines, injection lines, disposal lines, and others. Similarly, the Offshore segment is further segmented into subsea flowlines, jumpers, and others. Onshore is expected to remain the growth engine of the spoolable reinforced pipe market during the forecast period. All the major onshore applications, such as production and gathering lines and injection lines are likely to generate a healthy demand for spoolable reinforced pipes over the next five years.
A highly/moderately/fragment consolidated Market
The key spoolable reinforced pipe manufacturers are National Oilwell Varco Inc., Shawcor Limited; Pipelife International; Flexsteel Pipeline Technologies, Inc.; Polyflow, GHGE; Aerosun Corporation; Hebei Heng An Tai Pipeline Co., Ltd.; Changchun Gao Xiang Special Pipe Co., LTD.; Magma Global Ltd.; Airborne Oil & Gas BV; Cosmoplast Industrial Company LLC; and Pes. Tec. The regional expansion, new product development, and collaboration with customers are the key strategies adopted by the key players to gain a competitive edge in the market.
Regional Hegemony of North America
North America is estimated to dominate the managed pressure drilling services market during the forecast period. The USA is likely to lead the North American market by capturing the maximum share. On the other hand, RoW is expected to grow at the fastest rate during the forecast period, owing to the recent discoveries shaping up in offshore in countries, such as Angola, Tanzania, and Mozambique.
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