The Business Research Company’s report on the Offshore Pipeline Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the primary drivers fueling the growth of the offshore pipeline market in recent years?
The increasing demand for crude oil and natural gas is expected to propel the growth of the offshore pipeline market going forward. Crude oil, also known as petroleum, refers to a liquid hydrocarbon mixture that is typically found in underground reservoirs, while natural gas is a blend of hydrocarbon gases made up mostly of methane (CH4) with minor components of ethane, propane, and butane. Offshore pipelines offer several advantages for the transportation of crude oil and natural gas, as they provide a reliable and cost-effective means of moving large volumes of hydrocarbons over long distances. For instance, in March 2023, according to the US Energy Information Administration, a US-based federal statistical system, the U.S. crude oil output is expected to reach 12.4 million b/d in 2023 from 11.7 million b/d in 2022. Therefore, the increasing demand for crude oil and natural gas is driving the growth of the offshore pipeline market.
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What is the projected market size of the offshore pipeline industry, and how is it expected to grow?
The offshore pipeline market size has grown strongly in recent years. It will grow from $15.5 billion in 2024 to $16.3 billion in 2025 at a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period can be attributed to energy demand growth, deepwater exploration and production, government investments in infrastructure, geopolitical factors, environmental and safety regulations
The offshore pipeline market size is expected to see strong growth in the next few years. It will grow to $20.04 billion in 2029 at a compound annual growth rate (CAGR) of 5.3%. The growth in the forecast period can be attributed to renewable energy transition, increasing LNG trade, focus on emissions reduction, global energy security concerns, subsea tiebacks and satellite fields. Major trends in the forecast period include adoption of pipeline inspection technologies, technological advancements in pipeline construction, hydrogen transportation pipelines, collaborations in offshore pipeline projects, use of composite materials in pipelines.
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Who are the key players driving competition in the offshore pipeline market?
Major companies operating in the offshore pipeline market include Marathon Petroleum Corporation, Enterprise Products Partners L.P., Plains All American Pipeline L.P., Enbridge Inc, Baker Hughes Company, Kinder Morgan Inc., Transneft, TC Energy Corporation, Pembina Pipeline Corporation, McDermott International Ltd., Technip FMC Plc, Saipem SpA, Subsea 7 SA, Tmk Group, Petrofac Limited, Allseas Group SA, Fugro NV, L&T Hydrocarbon Engineering Limited, Shawcor Ltd., Sapura Energy Berhad, Bourbon Corporation SA, China Petroleum Pipeline Engineering Co. Ltd, Penspen
What key trends are expected to drive the ocular drug delivery market during the forecast period?
Technological improvements are a key trend gaining popularity in the offshore pipeline market. Companies operating in the offshore pipeline market are adopting new technology improvements to sustain their position in the market. For instance, in May 2023, Saipem S.p.A., an Italian-based energy services company, developed the Integrated Acoustic Unit (I.A.U.) technology for monitoring subsea pipelines during laying operations. This innovative technology has recently obtained the statement of qualified technology for medium and large pipelines from DNV, a global expert in assurance and risk management. The I.A.U. is an advanced digital instrument developed by Saipem that utilizes acoustic technology for non-intrusive, remote monitoring of subsea pipelines during laying operations. Its deployment on the Scarborough project in Australia ensures enhanced accuracy and efficiency in anomaly detection, eliminating risks associated with mechanical detectors. The technology offers improved pipeline integrity monitoring while mitigating potential damages during pulling operations.
Which key geographies are driving the growth of the offshore pipeline market?
North America was the largest region in the offshore pipeline market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the offshore pipeline market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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What are the key segments driving growth in the offshore pipeline market?
The offshore pipeline market covered in this report is segmented –
1) By Product: Natural Gas, Crude Oil, Refined Products
2) By Diameter: Below 24 Inch, Above 24 Inch
3) By Line: Transport Line, Export Line, Other Lines
4) By Installation Type: S Lay, J Lay, Tow In
5) By Depth Of Operation: Shallow Water, Deep Water
Subsegments:
1) By Natural Gas: Subsea Gas Pipelines, Offshore Gas Gathering Pipelines, Export Pipelines
2) By Crude Oil: Subsea Crude Oil Pipelines, Offshore Crude Gathering Systems, Export Pipelines
3) By Refined Products: Offshore Product Pipelines, LPG Pipelines, Jet Fuel Pipelines
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What defines the structure and scope of the offshore pipeline market?
An offshore pipeline is a type of pipeline that is installed in offshore environments, such as seas or oceans, for the transportation of oil, gas, or other fluids. These pipelines are designed to connect offshore production facilities, such as oil and gas platforms or subsea wells, to onshore processing facilities, export terminals, or other offshore structures.
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