Offshore Pipeline Market Size, Share, Trends, And Growth Report 2032

Offshore Pipeline Market: Size

The global offshore pipeline market size was worth around USD 15.39 billion in 2023 and is predicted to grow to around USD 23.26 billion by 2032 with a compound annual growth rate (CAGR) of roughly 4.82% between 2024 and 2032.

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The report covers a forecast and an analysis of the offshore pipeline market on a global and regional level. The study provides historical data for 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD Billion).

Offshore Pipeline Market: Overview

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 study includes drivers and restraints of the offshore pipeline market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the offshore pipeline market on a global level.

In order to give the users of this report a comprehensive view of the offshore pipeline market, we have included a competitive landscape and an analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.

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The report provides a company market share analysis to give a broader overview of the key players in the market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new product launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the market on a global and regional basis. Moreover, the study covers price trend analysis and product portfolios of various companies according to regions.

Offshore Pipeline Market: Growth Factors

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. 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.

Offshore Pipeline Market: Segmentation

The study provides a decisive view of the offshore pipeline market based on product, diameter, and region. All the segments have been analyzed based on present and future trends and the market is estimated from 2024 to 2032.

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”.

Offshore Pipeline Market: Report Scope

Offshore Pipeline Market: Regional Analysis

The regional segment includes the historic and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East, and Africa.

North America contributed an extensive revenue share to the global offshore pipeline market in 2023 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.

Offshore Pipeline Market: Key Players Analysis

Some key players operating in the global offshore pipeline market include:

• Penspen
• Saipem
• Subsea 7
• Wood Group
• Atteris
• McDermott
• Sapura
• Technip
• Fugro
• Petrofac
• Senaat

This report segments the global offshore pipeline market into:

Global Offshore Pipeline Market: Product Analysis

• Oil 
• Refined Product
• Gas

Global Offshore Pipeline Market: Diameter Analysis

• Below 24”
• Greater Than 24”

Global Offshore Pipeline Market: Regional Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa