Offshore Pipeline Market is expected to foresee significant growth. North America to lead the growth!

The Offshore Pipeline Market is expected to witness a CAGR of around 7% during the forecast period (2021–2027). Offshore pipelines are cheaper and economical to use for the transportation of fluids, solids, and gases. For the Liquids product, these Pipelines are economical to transport Petrochemical Products, Chemicals, Crude Oil, Petroleum Products, Water, and LPG. In addition, these pipelines can transport Ores, Coal as well as gaseous products. Offshore pipeline frameworks are accessible in numerous applications, which makes them ideal for a lengthy timeframe. The different types of pipes used for transportation are Seamless (SMLS) Pipes, High-Frequency Welded (HFW) Pipes, and Submerged Arc Welded (SAW) Pipes. Furthermore, the offshore pipeline market is expected to grow at a higher rate in the forecasted period due to the increasing demand for fuels and gases across the globe along with the requirement for safer and fast delivery to meet the uncertain demand. For instance, the global demand for crude oil (including biofuels) in 2020 fell to 91 million barrels per day and is anticipated to increase to 102.3 million barrels per day by 2024.

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Based on lines, into Import/export line and transport line. The transport line portion is supposed to hold the biggest piece of the pie by the forecasted period. Around 25,000 km of transport line pipeline network is supposed to be finished in the coming future. As well as there would be a significant increase in the import and export line segment as most of the European countries do not have the oil reserves and they highly depend on the import from the other countries.

Based on the product type, the market is classified into natural gas, crude oil, and refined product. The refined product fragment is supposed to rule the market in the determined period. The rising population and urbanization along with the automotive industries increases the demand for refined products in the past and would continue to grow at a higher rate. Key stakeholders in the industry have spotted the offshore pipeline technology as a strategic energy infrastructural investment for the long-term economic success and help in achieving the increasing demand of the several sectors including transportation, automotive as well as commercial, and institutional bodies.

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For a better understanding of the market adoption of the offshore pipeline industry, the market is analyzed based on its worldwide presence in the countries such as North America (US, Canada, Rest of North America); Europe (Germany, U.K., Russia, Spain, and the Rest of Europe); Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific); and the Middle East and Africa (Saudi Arabia, Kuwait, UAE and Rest of ME&A). In 2020, North America, accounted for a significant market presence in the market owing to high participation by the national oil companies and active deployment of the advanced technologies in the offshore pipeline sector.

Some of the major players operating in the market include McDermott International, Ramboll, Saipem, Fugro, Subsea 7, Seanaat, Penspen, Sapura, Petrofac and wood Group.

Offshore Pipeline Market Segmentation

Market Insight, by Lines

• Import/Export
• Transport

Market Insight, by Diameter

• Below 24”
• Above 24”

Market Insight, by Product

• Crude Oil
• Natural Gas
• Refined Product

Market Insight, by Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • Germany
  • United Kingdom
  • Russai
  • Spain
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • Rest of Asia-Pacific
• Middle East & Africa
• UAE
• Saudi Arabia
• Kuwait

Top Company Profiles

• McDermott International
• Ramboll
• Saipem
• Fugro
• Petrofac
• Subsea 7
• Senaat
• Penspen
• Wood Group
• Sapura