Market Share Analysis: How Flexible Pipes Are Revolutionizing Offshore Drilling

The flexible pipes market was estimated at USD 1.01 billion in 2023 and is likely to grow at a CAGR of 4.69% during 2024-2030 to reach USD 1.38 billion in 2030.

A flexible pipe is a hollow structure designed to transfer fluids or liquids from one location to another. It is widely used in offshore and onshore oil and gas exploration as well as in the production process. Technological advancements are serving the evolution of flexible pipes. Corrosion is one of the major downsides allied with metal piping systems. It ensures both inside and outside the pipe; thus, significantly impeding hydraulic efficiency. HDPE pipes do not corrode or rust and are unaffected by any biological growth, thus, offering extended service life and continuing cost savings. Flexible pipes are widely used for conveying liquids and fluids, such as crude oil. They can operate even under high pressure and temperature conditions.