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

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.