Offshore Pipeline Market by Product (Oil, Gas, and Refined Product) and by Diameter (Below 24” and Greater Than 24”): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025

Global offshore pipeline market expected to generate around USD 17 billion by 2025, at a CAGR of around 6.43% between 2019 and 2025. The global offshore pipeline market is likely to experience significant growth in the future, owing to the escalating demand for oil and gas.

17-Apr-2019 | Number of pages: 110 | Report Code: ZMR-4041 | Report Format : | Status : Published

Analysis

Pipeline transportation is considered as one of the safest and most secure ways of transportation. Currently, the pipeline is considered as the most effective and efficient mode of transportation. Energy-related utilities, such as gas, fuel, or oil, supply lines and power generation sources, such as nuclear and thermal power plants, require an extensive network of pipelines for transportation purposes. The pipeline network laid down for oil and gas and other energy utilities are usually very long. In fact, these pipeline networks are quite vast for any industrially developed nation. In developed countries, pipelines are usually the most cost-effective way to transport large quantities of oil, refined oil products, natural gas, or any refined product over land.

The global offshore pipeline market is likely to experience significant growth in the future, owing to the escalating demand for oil and gas. In comparison to the last ten years, the oil and gas industry has rapidly evolved in recent times. According to the International Energy Agency (IEA), the oil demand is predicted to grow at an annual rate of 1.2 million barrels per day. By 2023,  the oil demand is expected to reach 104.7 million barrels per day, more than  6.9 million barrels per day in comparison to the oil demand witnessed in 2018. In order to cater to the burgeoning oil demand and upsurging need for oil from myriad industry verticals, the number of pipeline installation projects has increased. Currently, oil and gas is the major source of raw material for power generation in many countries. Additionally, the increasing number of oil and gas exploration activities in the Gulf region of Mexico is projected to have a positive impact on the offshore pipeline market growth in the upcoming years. However, the high costs associated with the maintenance of offshore pipeline may hamper the offshore pipeline market growth in the future.

Global Offshore Pipeline Market

By product, the offshore pipeline market is segmented into oil, gas, and refined product. By diameter, the market is sectored into greater than 24” and below 24”.

North America contributed an extensive revenue share to the global offshore pipeline market in 2018 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 pipeline 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.

Some key players operating in the global offshore pipeline market include Penspen, Saipem, Subsea 7, Wood Group, Atteris, McDermott, Sapura, Technip, Fugro, Petrofac, and Senaat.


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