Technavio has been monitoring the flexible pipes market for oil and gas market and it is poised to grow by US$123.54 million during 2020-2024, progressing at a CAGR of over 2% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Airborne Oil & Gas BV, Continental AG, FlexSteel Pipeline Technologies Inc., General Electric Co., MAGMA GLOBAL Ltd., National Oilwell Varco Inc., Prysmian Spa, Shawcor Ltd., TechnipFMC Plc, and Wienerberger AG are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Rising investment in upstream oil and gas activity has been instrumental in driving the growth of the market.
Flexible Pipes Market for Oil and Gas Market 2020 - 2024: Segmentation
Flexible Pipes Market for Oil and Gas Market is segmented as below:
- North America
- South America
Flexible Pipes Market for Oil and Gas Market 2020 - 2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our flexible pipes market for oil and gas market report covers the following areas:
- Flexible Pipes Market for Oil and Gas Market size.
- Flexible Pipes Market for Oil and Gas Market trends.
- Flexible Pipes Market for Oil and Gas Market analysis.
This study identifies the growing acceptance of engineering-grade flexible materials as one of the prime reasons driving the flexible pipes market for oil and gas market growth during the next few years.
Read the article online at: https://www.worldpipelines.com/business-news/25062020/flexible-pipes-market-for-oil-and-gas-market-2020--2024-report-by-technavio/