Global Offshore Pipeline Market, By Line Type (Export, Transport), By Diameter (Below 24”, Above 2

Published Date: | Report Code : EP2058834

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The Global Offshore Pipeline Market is projected to reach USD19.65 billion by 2028, growing at a CAGR of 5.7% during the forecast period.

Offshore Pipeline Market

Offshore Pipeline Market

Offshore pipelines cover the full scope of pipeline progress from pipeline designing, installing, and testing to working. It focuses on governing bending stresses and pipe stability during laying pipelines. Offshore pipelines provide advantages like improving the insulation of deep-sea pipelines, reduce installation costs, upsurge oil and gas flow and expand resistance against exterior deep-sea pressures. The growth of the offshore pipeline market is driven by amplified demand for oil and natural gas, an increase in the production of offshore production, and demand for cheaper methods of transportation have stimulated companies to fast-track the process of building pipelines for transportation. Also increasing demand for safe, economical, and reliable connectivity is anticipated to boost the growth of the offshore pipeline market. Severe climatic conditions & high construction costs are the major challenges to the growth of the global offshore pipeline market. Offshore or ultra-deepwater discoveries and increasing demand for refined products are expected to generate opportunities for the global offshore pipeline market.

Based online type, the offshore pipeline market is segmented into export and transport. The transport line segment is expected to account for the larger share of the global offshore pipeline market owing to the growing transport line pipeline network in different applications. Approximately 25,000 km of transport line pipeline network is projected to be completed in the last few years. The increasing growth of this segment in Europe, Asia Pacific, and the Middle East, is expected to propel this segment during the forecast period.

Offshore Pipeline Market

Offshore Pipeline Market

Based on the product, the market is segmented into oil, gas, and refined product. The refined product segment is expected to dominate the market during the forecast. The increasing demand for refined products, especially from the Asia Pacific region is driving the market followed by the Middle East and Africa. Also, the oil segment is expected to have a significant share in the market during the forecast period. According to International Energy Agency (IEA), oil demand is expected to grow at an annual rate of 1.2 million barrels per day (mbd) until 2023, as the oil demand is expected to reach 104.7 mbd, up by 6.9 mbd from 2017. To comply with this surge in demand, the number of pipeline installation projects has increased. As of 2017, nearly 3,802 miles of pipelines are being planned and are under construction worldwide.

North America is expected to contribute an extensive revenue share to the global offshore pipeline market and is expected to dominate in the upcoming years. This regional growth can be attributed to the region’s flourishing petrochemical industry and the growing use of oil and gas in North America. The U.S. shale gas production and exploration, methane-based technologies, and rapid growth in innovation and upstream technology are the main factors responsible for the growth of the petrochemical industry sector, which will further foster the North American market in the future. The Asia Pacific region is expected to provide significant growth opportunities for the global offshore pipeline market, owing to the escalating demand for electricity. China has a well-developed infrastructure and has the third largest and longest network of pipelines across the globe. The total length of the pipeline network in China accounts for nearly around 126000 km. China’s growth as a petrochemical producing and consuming powerhouse has amplified the intra-regional competition.

Key Factors Impacting Market Growth:

  • Amplified demand for oil and natural gas
  • Increase in the offshore production
  • Increasing demand for economical, safe and reliable connectivity
  • Constraints of Cross Border Pipeline Transportation
  • Severe climatic conditions & high construction cost

Key Developments in Offshore Pipeline Market

  • In December 2018, McDermott (US) and BHGE (US) came together as development partners for the Equus Gas Project in Australia. This Western Gas Collaboration will provide an integrated solution to develop the entire field covering drilling, subsea, production facilities, export pipeline, an LNG facility, and a domestic gas connection.
  • In December 2018, the Subsea 7 Integration Alliance (UK) was awarded a sizable flow lines contract by BP for the Manuel project in the US Gulf of Mexico for good development.
  • In December 2018, Saipem (Italy) was awarded a contract for offshore Engineering, Procurement, Construction and Installation (EPCI) activities of the Zohr Field Development Project for 30-inch diameter gas export pipeline in deep water from Petrobel.
  • In January 2019, Saipem (Italy) was awarded 2 EPCI (Engineering, Procurement, Construction, and Installation) contracts by Saudi Aramco for the offshore field development activities like laying of pipelines and subsea cables.

What Does This Report Provide?

This report provides a detailed understanding of the global offshore pipeline market from qualitative and quantitative perspectives during the forecast period. The report also provides dynamic indicators with a potential impact on the offshore pipeline market during the forecast period and an in-depth analysis of the leading companies operating in the market.

Market Segmentation:

By Line Type:

  • Export
  • Transport

By Diameter:

  • Below 24”
  • Above 24”

By Product:

  • Oil
  • Gas
  • Refined Products

By Region:

  • North America
    • By Country (US, Canada, Mexico)
    • By Line Type
    • By Diameter
    • By Product
  • Western Europe:
    • By Country (Germany, UK, France, Spain, Rest of Western Europe)
    • By Line Type
    • By Diameter
    • By Product
  • Eastern Europe:
    • By Country (Russia, Turkey, Rest of Eastern Europe)
    • By Line Type
    • By Diameter
    • By Product
  • Asia Pacific
    • By Country (China, Japan, India, Rest of Asia Pacific)
    • By Line Type
    • By Diameter
    • By Product
  • Middle East:
    • By Country (UAE, Qatar, Iran, Saudi Arabia, Rest of Middle East)
    • By Line Type
    • By Diameter
    • By Product
  • Rest of the World
    • By Region (South America, Africa)
    • By Line Type
    • By Diameter
    • By Product

Companies Covered: Saipem, Mcdermott, Wood Group, Subsea 7, Technip Fmc, Penspen, Petrofac, Sapura Energy Berhad, Fugro, Atteris, Senaat, and L&T Hydrocarbon Engineering...

Years Considered In The Study

Historic Year

2016, 2017

Base Year

2018

Forecast Period

2019-2028

CAGR % (2019-2028)

5.7%

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  • Market size estimation of the global offshore pipeline market on a regional and global basis
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  • Profiling of major companies operating in the market with key developments
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