USD 14.14 billion
Offshore Pipeline Market Size, Share, Growth Analysis, By Product Type(Oil, Gas, Refined Products), By Line Type(Transport line, Export Line, Others), By Diameter(Below 24 Inch, Above 24 Inch), By By Depth of Operation(Shallow Water, deep water), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG10F2009 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|Tables:
115
|Figures:
77
Offshore Pipeline Market Insights
Global Offshore Pipeline Market size was valued at USD 14.14 billion in 2019 and is poised to grow from USD 14.8 billion in 2023 to USD 22.38 billion by 2031, growing at a CAGR of 4.7% in the forecast period (2024-2031).
During the forecast period, the market is anticipated to be driven by factors including rising demand for crude oil and natural gas, particularly from the Asia-Pacific region, and a growing focus on secure, affordable, and dependable connections for oil and gas exploration. High construction costs and technical difficulties with a deep-water building are predicted to impede market expansion. Due to increased shale gas discoveries and development in the North American region, the gas pipeline segment is anticipated to enhance demand in the offshore pipeline market. Gas pipelines are anticipated to become extremely popular as a result. Subsea (offshore) pipeline imports of more oil and gas into the European and Asia-Pacific regions are anticipated to generate enormous prospects for the market in the future. North America also dominated the global market in the forecast period.
US Offshore Pipeline Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Above 24 Inch
Fastest Growth
Above 24 Inch
Growth Rate
4.7% CAGR
Global Offshore Pipeline Market 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
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Offshore Pipeline Market Segmental Analysis
Global offshore pipeline market is segmented based on product type, line type, Diameter, By depth of operation, and Region. Based on product type, the Offshore Pipeline Market is segmented into oil, gas, and refined products. Based on line type, the Offshore Pipeline Market is segmented into transport lines, export lines, and others. Based on the diameter, the Offshore Pipeline Market is segmented into below 24 inches, and above 24 inches. Based on Depth of operation, the Offshore Pipeline Market is segmented into shallow water and deep water. Based on region, the global Offshore Pipeline Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Offshore Pipeline Market Analysis by Product type
Oil, gas, and refined product are the three product categories that make up the offshore pipeline market. Due to its rising demand, particularly from developing nations around the world, the refined product category is anticipated to dominate the market during the forecast period. The increasing demand for refined products, especially from the Asia Pacific region is driving the market followed by the Middle East and Africa. Crude oil is transported from under the sea or from the oilfield to refineries using oil pipelines. These consist of the flowlines, feeder lines, and export lines. These pipes don't have particularly long lengths. Additionally, the oil market is anticipated to expand due to the building of new refineries as a result of the increasing number of new oilfields being discovered around the world.
Offshore Pipeline Market Analysis by Line type
Transport lines, export lines, and other lines are the many line types that make up the offshore pipeline business. During the forecast period, the transport line segment is expected to dominate the market. Any offshore oil and gas project must have offshore pipelines. Oil and gas products are moved by these pipes from undersea wells to the platform, and then from the platform to the shore for processing and distribution.
Offshore Pipeline Market Analysis by Diameter
The offshore pipeline sector is split into two categories, greater than 24 inches and less than 24 inches, based on diameter. The industry with more than 24 inches is anticipated to have a greater CAGR during the anticipated period. Between 2022 and 2028, a network of pipelines with a diameter of 24 inches is anticipated to be built worldwide, expanding the market for pipes with a diameter of more than 24 inches. The pipe's diameter regulates the pressure and flow of hydrocarbons. A few of the well-known contractors in the sector are McDermott International, Saipem, and the National Petroleum Construction Company (NPCC).
Offshore Pipeline Market Analysis by the depth of operation
The market can be classified into shallow waters and deep waters based on the depth of operation, depending on the depth of the water. The tow-in technique is preferred in shallow water because of the benefit of building pipe ensure and the use of small watercraft for transferring pipe strings to installation sites. Because they provide a high pipe laying pace while accommodating a wide range of pipeline diameters, S-lay and J-lay processes are incredibly productive in deep water.
Global Offshore Pipeline Market By Diameter, 2021 (%)
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Offshore Pipeline Market Regional Insights
During the forecast period, North America is anticipated to hold the largest worldwide market share for offshore pipelines. The region's nations are making an effort to invest in offshore oil and gas development projects. Oil and gas pipeline infrastructure in nations like the United States and Canada is anticipated to continue operating at full capacity during the forecast period. The market for offshore pipelines in the United States is anticipated to grow significantly as a result of increased activity in the Gulf of Mexico.
A total of 836 billion cubic feet of natural gas reserves are anticipated to be contained in the 18 forthcoming new gas production projects. BP declared the start of the Manuel project in the US Gulf of Mexico in 2021. A new subsea production system for two additional wells connected to the Na Kika platform is part of the project. According to estimates, the wells will increase gross platform production by 20,100 barrels of oil equivalent per day. The pipeline sector in Canada is anticipated to grow steadily and strongly over the next years as a result of technological advancements. With pipelines regarded as the safest, most dependable, and most economical method of satisfying the energy needs of high-value, end-user markets, the Canadian oil and gas industry may experience high production levels. North America is expected to be the dominant region in the offshore pipeline market, supported by increasing investments in oil and gas projects during the forecast period.
Global Offshore Pipeline Market By Geography, 2021 - 2028
- Largest
- Fastest
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Offshore Pipeline Market Dynamics
Offshore Pipeline Market Driver
- The sector is being supported by the rising investments made by the top market players in R&D activities, the expanding need for crude oil and natural gas across all industrial verticals, and the growing requirement for accessible and secure supply connectivity. Further, other market drivers are increasing demand of crude oil, natural gas and refined products by the high energy consuming countries. As transportation through pipelines is efficient as compared to other means of transport, the market for offshore pipelines will rise to fulfil the growing demands.
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Offshore Pipeline Market Competitive Landscape
With already established market competitors, the offshore pipeline industry is fierce. Many companies are actively investing in R&D activity to develop innovative products that help the company to improve its market share and generate more revenue. Enbridge Inc., Cortez Subsea, Fugro, McDermott, Saipem, TechnipFMC plc, Penspen, Sapura Energy Berhad, Atteris, and Senaat are a few of the key participants. Businesses are concentrating on acquisitions to grow their market share and remain competitive.
Offshore Pipeline Market Top Players Company Profiles
- Saipem S.p.A.
- TechnipFMC Plc
- Subsea 7 S.A.
- McDermott
- Wood Group plc
- Baker Hughes Company
- McDermott Middle East, Inc.
- Bechtel Corporation
- Petrofac Limited
- MODEC, Inc.
- L&T Hydrocarbon Engineering Limited
- China National Offshore Oil Corporation Limited
- NPCC - National Petroleum Construction Company
- McDermott Caspian Contractors, Inc.
- Vallourec S.A.
- Mott MacDonald Group Limited
- WorleyParsons Limited
- Woodside Petroleum Ltd.
- Halliburton Company
- Chiyoda Corporation
Offshore Pipeline Market Recent Developments
- In January 2022, Qatar Energy announced a major engineering, procurement, construction, and installation (EPCI) contract for the offshore scope of its North Field Expansion Project to McDermott Middle East Inc. (McDermott). The expansion project will increase the State of Qatar’s liquefied natural gas (LNG) production capacity from 77 million tons per annum (MTPA) to 126 MTPA, through the North Field East (NFE) and North Field South (NFS) expansion projects, with the first LNG expected to be completed in 2025.
- In November 2021, Eni and Snam launched a partnership on gas pipelines between Algeria and Italy. The perimeter of the transaction includes the onshore gas pipelines running from the Algeria and Tunisia borders to the Tunisia coast (TTPC) and the offshore gas pipelines connecting the Tunisian coast to Italy (TMPC).
- In September 2021, Gazprom completed the Nord Stream 2 subsea pipeline to Germany. Gazprom started construction of the 1,200-km long Nord Stream 2 pipeline from Russia to Germany. Nord Stream 2 subsea pipeline is a system of offshore natural gas pipelines in Europe, running under the Baltic Sea from Russia to Germany.
Offshore Pipeline Key Market Trends
- The market for offshore pipelines is likely to be driven by the development of new gas resources and the adoption of subsea (offshore) pipelines for the quick and affordable transportation of natural gas exports. These developments are the result of the rising demand for natural gas.
- Due to recent cost reductions and significant technological advancements, numerous oil and gas exploration and production firms all over the world have been able to expand their portfolio of commercially viable deepwater and ultra-deepwater developments. As a result, it is anticipated that throughout the projected period, the offshore pipeline business would grow quickly.
Offshore Pipeline Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, North America is anticipated to hold the largest worldwide market share for offshore pipelines. The region's nations are making an effort to invest in offshore oil and gas development projects. The transport line segment is expected to dominate the market. Due to its rising demand, particularly from developing nations around the world, the refined product category is anticipated to dominate the market. The increasing demand for refined products, especially from the Asia Pacific region is driving the market followed by the Middle East and Africa. The market is anticipated to be driven by factors including rising demand for crude oil and natural gas, particularly from the Asia-Pacific region, and a growing focus on secure, affordable, and dependable connections for oil and gas exploration. High construction costs and technical difficulties with a deep-water building are predicted to impede market expansion.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 14.14 billion |
| Market size value in 2031 | USD 22.38 billion |
| Growth Rate | 4.7% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Offshore Pipeline Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Offshore Pipeline Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Offshore Pipeline Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Offshore Pipeline Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Offshore Pipeline Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Offshore Pipeline Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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