(I-BusinessNews.Com, February 21, 2019 )
Stratview Research announces the launch of a new research report on Global Spoolable Pipe Market by Reinforcement Type (Fiber Reinforcement and Steel Reinforcement), by Product Type (Spoolable Composite Pipe and Reinforced Thermoplastic Pipe), by Application Type (Onshore, Offshore, Downhole, Water, and Others), by Diameter Type (Small Diameter and Large Diameter), by User Type (Operator, EPC Contractor, Drilling Contractor, and Others), by Sales Channel Type (Direct Sales and Distributors), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018-2023.
The Global Spoolable Pipe Market: Highlights
As per Stratview Research, the global spoolable pipe market offers healthy growth opportunities and is likely to reach US$ 1,065.8 million in 2023, which offers an opportunity to the industry players to align themselves with the market growth.
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There are several factors bolstering the growth of the global spoolable pipe market. The author of the report cited an expected recovery in the rigs or wells count, cost competitiveness of spoolable pipes over steel pipes, excellent corrosion and erosion resistance, and higher preference of spoolable pipe over steel ones in small diameter pipes as the major factors that are proliferating the growth of the spoolable pipe market.
The global spoolable pipe market is highly dominated by fiber-reinforced spoolable pipe in terms of value, followed by steel-reinforced spoolable pipe. Higher usage of fibers as reinforcement is primarily due to their good mechanical performance, such as tensile strength, impact resistance, and fatigue strength. The segment is also likely to witness the higher CAGR over the next five years.
Onshore application is expected to remain the growth engine of the global spoolable pipe market during the forecast period. All the major onshore applications, such as production & gathering lines and injection lines, are likely to generate a healthy demand for spoolable pipes over the next five years.
Based on the diameter type, small diameter pipe is projected to remain the largest consumer of spoolable pipes during the forecast period. All the major players are primarily supplying small diameter pipes targeting all the major applications. Large-diameter pipe is also likely to exhibit a healthy growth during the same period.
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