Offshore Pipeline Market to See Robust Expansion in Near Future

The global offshore pipeline market is expected to grow from USD 11.5 million in 2018 to USD 15.8 billion by 2023, at a CAGR of 6.54% during the forecast period. The major factors driving the offshore pipeline market include increasing demand for crude oil and natural gas, especially from the Asia Pacific region. Increasing demand for safe, economical, and reliable connectivity is expected to drive the offshore pipeline market.

Transport line being the most common type of offshore pipeline is expected to hold the largest market share during the forecast period as the technology is a highly mature and proven technology. Europe, followed by Asia Pacific, and the Middle East, is expected to be the most attractive region in this segment, during the forecast period.  Approximately 25,000 km of transport line pipeline network is expected to be completed from 2018 to 2023.

Download PDF Brochure:

The greater than 24” segment is expected to grow at the fastest rate during the forecast period. Approximately 35,000 km of 24” pipeline network is expected to be completed from 2018 to 2023. The European region, followed by the Asia Pacific and Middle Eastern regions, is expected to be the most attractive in this segment, because of the commissioning of planned projects during the forecast period. Major contractors include Saipem, National Petroleum Construction Company (NPCC), and McDermott International.

Europe is expected to have the highest growth rate during the forecast period, due to increasing imports for its energy demands. The demand for oil and gas is expected to increase to about 70.0% over the next 15 years. Europe is heavily dependent on imports for its energy demands (nearly 50% consumption volumes). This dependency is expected to increase to about 70.0% over the next 15 years. Europe is mainly dependent on conventional fuels, and nearly 80% of its total consumption comes from conventional energy sources. High energy consuming countries such as the UK, France, and Germany have negligible production and high demand. Hence, they are dependent on Russia and the Middle East for their oil supplies. Major oil & gas offshore pipeline contractors which operate in the region include Technip, Saipem, Subsea 7, Petrofac, and Allseas.

Request Sample Pages:

The major players in the global Offshore Pipeline Market, are Saipem (Italy), Subsea 7 (UK), McDermott (US), Sapura (Malaysia), Wood Group (UK), Technip (UK), Fugro (Netherlands), Atteris (Australia), Penspen (UK), Petrofac (UK), and Senaat (UAE).

About MarketsandMarkets™:

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Mr. Aashish Mehra

MarketsandMarkets™ INC.

Content Source:

Leave a Comment

Your email address will not be published. Required fields are marked *