Offshore Pipeline Market (2024-2033) | Insights, Industry Outlook, Growing Trends And Top Key Players

Overview and Scope
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.

Sizing and Forecast
The offshore pipeline market size has grown strongly in recent years. It will grow from $14.82 billion in 2023 to $15.63 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. 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 $19.08 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. 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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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

North America was the largest region in the offshore pipeline market in 2023. 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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Major Driver Impacting Market Growth
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.

Key Industry Players
Major companies operating in the offshore pipeline market report are 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

The offshore pipeline market report table of contents includes:

1. Executive Summary

2. Offshore Pipeline Market Characteristics

3. Offshore Pipeline Market Trends And Strategies

4. Offshore Pipeline Market – Macro Economic Scenario

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32. Global Offshore Pipeline Market Competitive Benchmarking

33. Global Offshore Pipeline Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Offshore Pipeline Market

35. Offshore Pipeline Market Future Outlook and Potential Analysis

36. Appendix

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