Spoolable Pipes Market Market Size

Spoolable Pipes Market size was over USD 1.86 billion in 2024 and is projected to exceed USD 2.84 billion by the end of 2037, witnessing over 3.3% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of spoolable pipes is evaluated at USD 1.91 billion. The reason behind the growth is due to the increasing consumption of natural gas across the globe. For the past 20 years, there has been an increase in the global consumption of natural gas driven by the US shale gas revolution and the rapidly expanding liquefied natural gas industries.

For instance, more than 3 trillion cubic meters of natural gas was consumed globally in 2022, and this figure is projected to increase at an average yearly rate of over 0.7%, or over 4,220 billion cubic meters by 2025.

The growing introduction of efficient pipe technology is believed to fuel the spoolable pipes market growth. For instance, in November 2023 Baker Hughes introduced a new PythonPipe portfolio that allows for over 55% installation time reduction, helps in achieving up to 74% reduction in carbon emissions over its lifecycle, more than 75% reduction in maintenance expenses, and provides both efficient and sustainable operations. Furthermore, the PythonPipe portfolio provides the only 8-inch spoolable, non-metallic RTP product available on the market and cutting-edge co-extruded liner technology which makes it appropriate for harsh and corrosive situations.