San Francisco, California, July 18, 2018: According to a recent market research report by TMR Research, the global market for spoolable pipes will continue to be driven due to steady demand from the upstream oil and natural gas industry. The report is titled “Spoolable Pipes Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025.”
The vast rise in applications of spoolable pipes for a variety of onshore and offshore processes in the oil and gas sector and wastewater treatment industry, which are driven by the vast advantages that these pipes have over other conventional varieties that are normally made of carbon and steel, is also expected to work in favor of the market. The cost effectiveness of these pipes is another factor working in their favor. Moreover, the steady rise in oil rigs across the globe could favor the overall development of the global spoolable pipes market.
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These pipes also benefit from their key advantages, which include high resistance to fatigue, enhanced flow rates, and a relatively easier maintenance. The increased use of fiber-reinforced spoolable pipes in place of steel pipes, especially across high-pressure applications in the field of oil and gas production and processing, could also propelling the market. Across a number of countries, the rise in number of renovation activities when it comes to old or damaged pipelines could spell growth for the market.
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Geographically, the market for spoolable pipes gains a large share of its revenue from sales across economies with developed oil and gas sector. The market also has potentially attractive growth prospects in emerging economies across regions such as Asia Pacific and Latin America owing to the thriving oil and gas sector. In developed economies across North America and Europe, the steady adoption of advanced technologies in the oil and gas production sector will continue to drive the market.