The global flexible pipes market was valued at $1.25 billion in 2023 and is expected to grow 4% annually from 2024 to 2030. This growth is driven by increasing offshore oil and gas exploration, where flexible pipes play a crucial role in transporting fluids under extreme conditions.
These pipes are especially important for deep-water operations, where traditional piping systems may fail. Advances in drilling technology have also improved efficiency and safety in oil and gas extraction, further increasing demand. As conventional reserves decline, the industry is shifting to deep-water and ultra-deep-water reserves, requiring durable and adaptable piping solutions that can withstand high pressures and harsh environments.
Meanwhile, China’s flexible pipes market is experiencing strong growth, driven by rising energy demands and major investments in offshore exploration. As one of the world’s largest energy consumers, China is expanding its deep-sea oil and gas operations, increasing the demand for flexible piping solutions. The government’s push to enhance offshore exploration capabilities has further accelerated this trend, making China a key player in the global market.
