PUBLISHER: SkyQuest | PRODUCT CODE: 1270795
PUBLISHER: SkyQuest | PRODUCT CODE: 1270795
Global Offshore Pipeline Market size was valued at USD 14.14 billion in 2021 and is poised to grow from USD 14.8 billion in 2022 to USD 22.38 billion by 2030, growing at a CAGR of 4.7% in the forecast period (2023-2030).
The market is expected to be influenced by a number of factors over the course of the forecast period, including an increase in the demand for natural gas and crude oil, particularly in the Asia-Pacific region, and a growing demand for connections that are safe, inexpensive, and dependable for oil and gas exploration. Market expansion is anticipated to be hampered by high construction costs and technical challenges with a deep-water building. The need for offshore pipelines is expected to expand as a result of the increased shale gas discoveries and development in the North American region. As a result, gas pipelines are expected to grow immensely popular. Future opportunities for the market are expected to be immense as more oil and gas are imported through subsea (offshore) pipelines into the European and Asia-Pacific regions. In the course of the prediction, North America continued to rule the global market.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global offshore pipeline Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Global offshore pipeline market is segmented based on product type, line type, Diameter, By depth of operation, and Region. Based on product type, the Offshore Pipeline Market is segmented into oil, gas, and refined products. Based on line type, the Offshore Pipeline Market is segmented into transport lines, export lines, and others. Based on the diameter, the Offshore Pipeline Market is segmented into below 24 inches, and above 24 inches. Based on Depth of operation, the Offshore Pipeline Market is segmented into shallow water and deep water. Based on region, the global Offshore Pipeline Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
The leading market participants' increasing R&D spending, the rising demand for natural gas and crude oil across all industrial sectors, and the developing need for reliable and secure supply connectivity all contribute to the sector's growth. The high energy consumption nations are also one of the key factors driving up demand for crude oil, natural gas, and refined products. Because pipes are more effective at moving goods than other modes of transportation, the market for offshore pipelines will expand to meet rising demand.
The adoption of subsea (offshore) pipes for the rapid and reasonably priced transportation of natural gas exports, along with the development of additional gas resources, are expected to fuel the market for offshore pipelines. The increased demand for natural gas is the cause of these developments.
Many oil and gas exploration and production companies around the world have expanded their portfolio of economically viable deepwater and ultra-deepwater developments as a result of recent cost reductions and major technology breakthroughs. The offshore pipeline industry is therefore expected to expand quickly during the course of the predicted timeframe.