Offshore Pipeline Market Analysis | 2023-2028

Market Insights

The offshore pipeline market was estimated at USD 14.5 billion in 2022 and is likely to grow at a CAGR of 4.72% during 2023-2028 to reach USD 19.17 billion in 2028.

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Market Dynamics

Introduction

Offshore pipelines are used on the seabed or inside the trench to transport oil & gas. These pipelines are mostly made of carbon steel and vary from 3 inches to 72 inches from gas lines for high-capacity lines. The offshore pipeline inside the wall carries seawater or corrosive substances, it is coated with materials such as epoxy and polyurethane.

Market Drivers

The major factors driving the growth of the offshore pipeline market are:

• Increasing Demand for Oil and Natural Gas: As global consumption and production speed up, especially oil and natural gas, the demand for energy remains high, specifically in emerging economies due to industrial activities. Offshore pipelines are used significantly in the shipping of hydrocarbons from production facilities in the offshore field to the onshore facilities. With the discovery of new offshore oil and gas resources and the increasing capacity of production in these resources, it has also become important to have effective and efficient pipelines to transport the resources.
• Expansion of Offshore Exploration and Production: Due to technological improvement, offshore exploration and production has extended to deeper water regions and more hostile terrains. Exploration of new resources in areas such as ultra-deepwater and arctic requires the deployment of complex offshore pipelines for transportation of resources over long distances. This is explained by the fact that increased offshore drilling creates a need for effective and high-tech pipelines that can withstand the rigorous terrains and conditions of deep water exploration.
• Investment in Infrastructure Development: The amount of energy transported through pipelines especially to offshore regions is being boosted by increased investments in offshore infrastructure. Governments and major international oil companies are continuing to invest in pipeline projects to access new offshore fields, upgrade capacity and lower transportation costs. Such investments contribute to the growth of the market since the necessary infrastructure for pipelines is being created or improved.
• Emphasis on Safe and Reliable Transportation: Offshore pipelines provide the necessary protection for effective economical and effective connection for upstream operations for oil and gas. They are credible sources of energy, which makes natural gases a preferred option for industries and households hence increasing the demand. Offshore pipelines act as the infrastructure for the U. S LNG export industry since they enable the transportation of liquefied natural gas for export from production locations. It is expected that the positive outlook for the U. S. LNG export is to boost offshore pipeline demand.

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Key Players

Some of the major players in the offshore pipeline market are:

• Saipem
• Subsea 7
• McDermott
• Sapura
• Wood Group
• Technip
• Fugro
• Atteris
• Penspen
• Petrofac
• Senaat

Note: The above list does not necessarily include all the top players in the market.

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Segments Analysis

By Product Type

Based on the product type, the market is segmented as oil, gas, and refined products. The refined products segment led the market in 2022 and is expected to dominate during the forecast period. The rising demand for refined products, especially from the Asia Pacific region, is boosting the market, followed by the Middle East and Africa.

By Line Type

Based on the line type, the market is segmented as export line, transport line, and other lines. The transport line dominated the market and is expected to remain the largest segment during the forecast period. Around 25,000 km of transport line pipeline network is expected to be completed by 2025.

By Diameter Type

Based on the diameter type, the market is segmented as below 24” and greater than 24”. It is estimated that the segment greater than 24” will register faster growth during the forecast period. Further, close to 35,000 km of 24” pipeline network is likely to be accomplished in the coming five years.

Regional Insights

In terms of regions, Europe is estimated to lead the market during the forecast period. The region is dependent on conventional fuels and over 80% of its total consumption comes from conventional energy. Countries such as the UK, France, and Germany consume high energy and have high demand, which is driving the market.

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Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s offshore pipeline market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market, covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The offshore pipeline market is segmented into the following categories.

By Product Type

• Oil
• Gas
• Refined Products

By Line Type

• Transport Line
• Export Line
• Other Lines

By Diameter Type

• Below 24’’
• Greater than 24’’

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and the Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the product types by line type.

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.