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Flexible Flow Solutions Market - Global Outlook & Forecast 2024-2029

TO BE PUBLISHED : Feb 2024 | Pages : 324

THE GLOBAL FLEXIBLE FLOW SOLUTIONS MARKET IS EXPECTED TO REACH USD 60.84 BILLION BY 2029 FROM USD 42.00 BILLION IN 2023, GROWING AT A CAGR OF 6.37% DURING THE FORECAST PERIOD.

The Flexible Flow Solutions Market Size, Share, & Trends Analysis Report By

  • Components: Hoses, Assemblies & Fittings, Braid, and Other
  • Hoses Type: Stainless Steel Stripwound Hoses, Stainless Steel Corrugated Hoses, and Other Hoses
  • Raw Materials: Steel, Plastic & Polymer, and Rubber
  • End-users: Chemical & Petrochemical, Oil & Gas, Steel, HVAC, Energy & Power Utilities, Automotive, Renewable Energy, Aerospace, and Others
  • Distribution Channel: Offline and Online
  • Geography: North America, Europe, APAC, Latin America, and Middle East & Africa

Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast 2024–2029.

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324 Pages

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166 Tables

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111 Charts

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5 Regions

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22 Countries

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25 Companies

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6 Market Segment

FLEXIBLE FLOW SOLUTIONS MARKET REPORT SCOPE

Report Attribute Details
Market Size (2029) USD 60.84 Billion
Market Size (2023) USD 42 Billion
CAGR (2023-2029) 6.37%
HISTORIC YEAR 2020-2022
BASE YEAR 2023
Forecast Year 2024-2029
Market Segments Components, Hoses Type, Raw Materials, End-users, Distribution Channel, and Geography
Geographic Analysis North America, Europe, APAC, Latin America, and Middle East & Africa
KEY PLAYERS Witzenmann Group, Liquidyne Process Technology, Unisource Manufacturing Inc.

MARKET OVERVIEW

The global flexible flow solutions market was valued at USD 42.00 billion in 2023 and is expected to reach USD 60.84 billion by 2029, growing at a CAGR of 6.37%. The market has many applications in construction, automotive, aerospace, oil and gas, chemical and petrochemical, renewable energy, aerospace, and automotive industries, among many others. The oil and gas sector seems to have the majority share in the end users’ segment, as oil and gas transportation happens majorly through flexible flow systems. Further, increasing industrialization worldwide and application in household and commercial sectors primarily drive the flexible flow solutions market.

The flexible flow systems are designed to ensure a smooth flow of materials such as gases, liquids, and semi-solids are transported from point A to point B safely and securely. The applications of these systems are spread across multiple industries, including pharmaceutical, chemical, oil & gas, pump and paper, heating, ventilating and air conditioning systems, firefighting systems, and water treatment, among many others. Flexible systems can be designed and manufactured based on the needs of the industry. Based on the industry, the raw materials are selected to manufacture the flow system; for example, stainless steel is used across many industries such as chemical, petrochemical, pharmaceutical, and food & beverage, as stainless steel has the least reaction concerning chemicals and has no corrosive reactions.

MARKET TRENDS & DRIVERS

Increasing Demand for Renewable Energy
There has been considerable interest in renewable energy development in recent decades due to increasing global temperatures and extreme weather conditions. It is also one of the sectors witnessing huge investments and growing global support. Flexible flow systems are required at solar and hydropower generation plants. Flexible flow systems in hydropower generation play a very important role; these systems will transport water from the reservoir, pass through an intricate flow system, and then increase the speed of water through the turbine and then to the exhaust. The flexible flow systems in such industries require high efficiency as failure could lead to dangerous systems. Flexible flow systems must be equipped with leakage detection, pressure measures, and flow direction, among many others, to provide accurate results. Hence, such reasons are propelling the growth of the flexible flow solutions market during the forecasted period.

Rapid Growth of the Pharmaceutical Industry
The pharmaceutical industry plays a very important role in the well-being of humans. Significant steps in pharmaceutical research, along with many small steps, have enabled reductions in fatalities, for example, HIV/AIDS-related medication and several cancers, high blood pressure, and cardiovascular diseases. Flexible flow systems are predominantly used in the manufacturing and research domains. The flexible flow systems enable the safe and secure transmission of chemical compounds from one location to another. These chemicals can be explosive if they react due to leakages or using the wrong materials. The industry is also highly regulated, making it mandatory to follow security protocols to ensure the general public's safety.   Hence, such reasons support the growth of the flexible flow solutions market in the pharmaceutical industry. Further, pharmaceutical industries are also working to develop vaccines for various conditions, such as Alzheimer’s disease and dementia, requiring flexible flow systems facilities. The manufacturing facilities would require a state-of-the-art flexible flow system to ensure that the materials required for the manufacturing process are transported from one place to another without mishaps or leaks.

SEGMENTATION INSIGHTS

INSIGHTS BY COMPONENTS
The global flexible flow solutions market by components is segmented into hoses, assemblies & fittings, braid, and others. The hoses components segment will hold the largest market share in 2023. Different kinds of hoses have varying fixed or adjustable Gallon Per Minute (GPM) settings. These settings correspond to a specific discharge opening or tip size. Moreover, a conventional hose operates at the correct hose pressure of 100 psi when it has a fixed opening. The adjustable gallon hoses come in different settings, such as 30,60,95, and 125 gpm. The high-pressure hose, generally known as the UHO fire hose, ejects a steady flow of highly pressurized water onto a flame and may seem ideal in all situations, but this is not the case. The fire services use high-pressure firefighting hoses to combat fire beyond the nascent stage.

INSIGHTS BY HOSES
The hoses are responsible for transferring the materials from one location to another; hence, they have to be strong enough to withstand any conditions, such as low or high temperatures, when transporting material, among many others. The stainless steel stripwound hoses segment holds the largest market share and is projected to continue its dominance during the forecast period. The stripwound hoses are flexible, ideal for transferring abrasive materials, and effective in transporting high-temperature and viscous fluids. Furthermore, these hoses are an excellent choice for use as a guard, an open-ended exhaust hose, and for transferring dry bulk materials.

INSIGHTS BY RAW MATERIALS
The steel raw material segment dominated the global flexible flow solutions market in 2023. Stainless steel, steel, aluminum, cast iron, mercury, and iron are some raw materials used to manufacture different raw materials in flexible flow solutions. Iron and cast iron were some of the first to be used for manufacturing these systems as they are hard and malleable in a semi-liquid state. Iron is also widely available globally and can be easily procured as it has multiple uses. Due to their vast availability, these metals are comparatively cheaper than other metals. Furthermore, one of the ground-breaking innovations in the flexible flow solutions market is the introduction of lightweight PVC flexible flow. Integrating the PVC material in the hose helps to eject water at tremendous pressure and speed and can be used in any weather conditions. The rising demand for long-lasting life, heat resistance, and several advances have made PVC popular among manufacturers and end-users.

INSIGHTS BY END-USERS
The global flexible flow solutions market by end-users is segmented into chemical & petrochemical, oil & gas, steel, HVAC, energy & power utilities, automotive, renewable energy, aerospace, and others. The oil & gas end-user segment holds the most prominent market share in 2023. The global economy is majorly dependent on the oil & gas industry, and the demand for oil and gas consistently increases as global economies and infrastructure depend on petroleum-based products. Transportation and motor vehicle accidents, slips, trips, falls, fires, explosions, contact with objects and equipment, and exposure to chemicals, harmful substances, or environments are common in the industry. For instance, in 2021, at least four people were killed and 44 injured in a fire accident at the Indian Oil Corporation’s Haldia refinery in India. Expenses related to cleaning after the disaster, the start of manufacture at the plant, and losses incurred due to lost barrels during the fire or explosion incident are costs involved with fire at rigs. Reducing these fatalities and increasing safety measures drive the demand for flexible flow solutions.

INSIGHTS BY DISTRIBUTION CHANNEL
The global flexible flow solutions market by distribution channel is segmented into offline and online. In 2022, the offline distribution channel has the highest market share. Factors such as the broader reach in areas that lack better connectivity and high consumer trust associated with touching and experiencing the quality of products are driving the growth of this segment. Further, the online distribution channel allows manufacturers and vendors to have multichannel campaigns across various channels, such as third-party retailers and direct websites. High penetration rates of connectivity are expected to grow the online multichannel platforms' visibility during the forecast period.

GEOGRAPHICAL ANALYSIS

APAC holds the most significant share of the global flexible flow solutions market, accounting for over 32% in 2023. The region is home to several industries, including manufacturing, services, automobiles, and electrical industries, consequently increasing the need for efficient and energy-saving flexible flow solutions, which have applications in multiple industries. While Japan and South Korea are major manufacturers and exporters of electrical appliances and automobiles, Singapore dominates in excellent construction facilities. Further, North America accounted for the second-largest global market share in 2023. Large-scale industries such as automobiles, construction, electronics, and aerospace are driving the flexible flow solutions market in the region. Also, numerous large-scale manufacturing and established IT headquarters in most economies aided the growth of flexible flow systems.

COMPETITIVE LANDSCAPE

The global flexible flow solutions market is moderately segmented; however, it does encourage new entrants. Competitors are boarding their market share through product differentiation and technical integration into the systems. The manufacturers should also concentrate on renewable energy; power and energy utilities are one of the growing sectors in the market. Furthermore, there is intense market competition as players compete to gain market share. Due to the intensely competitive landscape, the flexible flow solutions market will likely witness increased consolidation. These factors make it imperative for vendors to distinguish their products and service offerings through a clear and unique value proposition. Otherwise, they will not survive the highly competitive environment. In addition, they must develop high functionalities and continue upgrading their products to keep pace with the latest technological developments, failing which they might lose relevance in the industry.

Frequently Asked Questions

How big is the flexible flow solutions market?

The global flexible flow solutions market size was valued at USD 42.00 billion in 2023 and is expected to reach USD 60.84 billion by 2029.

What is the growth rate of the global flexible flow solutions market?

The global flexible flow solutions market is expected to grow at a CAGR of 6.37% from 2023 to 2029.

Which region dominates the global flexible flow solutions market share?

APAC held the largest global flexible flow solutions market share, accounting for over 32% in 2023.

What are the significant trends in the flexible flow solutions market?

The rising manufacturing sector in Asia Pacific, the integration of the Internet of Things into flexible flow systems, and the increasing demand for renewable energy are significant trends in the flexible flow solutions market.

Who are the key players in the global flexible flow solutions market?

Witzenmann Group, Liquidyne Process Technology, Unisource Manufacturing Inc. are the key players in the global flexible flow solutions market.

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The global flexible flow solutions market size is expected to grow at a CAGR of approximately 6.37% from 2023 to 2029.

The following factors are likely to contribute to the growth of the global flexible flow solutions market during the forecast period:

  • Rapid Development of the Pharmaceutical Industry
  • Increasing Technology in Precision Manufacturing
  • Changing Climatic Conditions and Increasing Global Temperatures Increasing Sales of Heating and Ventilation Systems

Base Year: 2023

Forecast Year: 2024-2029

The report considers the present scenario of the global flexible flow solutions market and its market dynamics for 2024−2029. It covers a detailed overview of several market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the market. It also profiles and analyzes leading companies and several other prominent companies operating in the market.

Key Company Profiles

  • Witzenmann Group
    • Business Overview
    • Product Offerings
    • Key Strategies
    • Key Strengths
    • Key Opportunities
  • Liquidyne Process Technology
  • Unisource Manufacturing Inc.

Other Prominent Vendors

  • Aeroflex Industries Limited
    • Business Overview
    • Product Offerings
  • Watson-Marlow Inc.
  • Swagelok Company
  • Parker Hannifin Corp
  • Swpc Fluid Solutions
  • Nex Flow Air Products Corp
  • Titeflex Corporation
  • Hydroflex Pipe Private Limited
  • Jre Private Limited
  • Pacific Hoseflex
  • Flexit
  • Kuriyama Of America, Inc.
  • Flakt Group
  • Raytheon Technologies
  • Beijer Ref
  • Swegon
  • VTS
  • Nauire
  • Nortek
  • Alfa Laval
  • Hitachi
  • Lu-Ve

Segmentation by Components

  • Hoses
  • Assemblies & Fittings
  • Braid
  • Other

Segmentation by Hoses Type

  • Stainless Steel Stripwound Hoses
  • Stainless Steel Corrugated Hoses
  • Other Hoses

Segmentation by Raw Materials

  • Steel
  • Plastic & Polymer
  • Rubber

Segmentation by End-users

  • Chemical & Petrochemical
  • Oil & Gas
  • Steel
  • HVAC
  • Energy & Power Utilities
  • Automotive
  • Renewable Energy
  • Aerospace
  • Others

Segmentation by Distribution Channel

  • Offline
  • Online

Segmentation by Geography

  • North America
    • US
    • Canada
  • Europe
    • Germany 
    • UK
    • France
    • Italy
    • Spain
    • Russia
    • Netherlands
  • APAC
    • China
    • Japan
    • India
    • Australia
    • South Korea
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • UAE
    • Turkey
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Chile

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