The global offshore pipeline market comprises a substantial number of market players, resulting in a fragmented global market. Bechtel Corporation; Fugro; John Wood Group PLC; Larsen & Toubro Limited; McDermott International, Inc.; Petrofac Limited; Saipem S.p.A.; Sapura Energy Berhad; Subsea 7 S.A.; and TechnipFMC plc are a few of the players operating in the market with the considerable customer base, big contracts, and strong market position. These players significantly invest in the expansion of their business competencies to sustain their market position..

Currently, the global offshore pipeline market is dominated by Europe and North America accounting for the ~60% of the global market share collectively. The increasing demand for cost-effective transportation method for oil and gas is one of the major factors expected to boost the demand for offshore pipeline in the oversea oil & gas sector across these two regions.

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Companies Profiled in this report includes :

  • Bechtel Corporation
  • Fugro
  • John Wood Group PLC
  • Larsen & Toubro Limited
  • McDermott International, Inc.
  • Petrofac Limited
  • Saipem S.p.A.
  • Sapura Energy Berhad
  • Subsea 7 S.A.
  • TechnipFMC plc

Offshore pipeline Market Insights

Rise in Demand for Natural Gas and Crude Oil

The demand for natural gas and crude oil is constantly increasing  across the world. For instance, the demand for oil was increased by 1.3% globally in 2018 due to the robust growth of oil industry in the US. According to the International Energy Agency forecasts, the oil demand in Q3 of 2019 was rose by 1.1 million of barrels per day (Mbd), which was more than double as compared to the previous quarter. The US and China have presented the most considerable growth. The surge in petrochemical demand across the US resulted in increased consumption. Growing industrial production with high demand for trucking services drive the need for petrochemicals, which fuels the growth of the offshore pipeline market. The growth in air traffic volumes worldwide, particularly in Asia’s developing economies, is another factor increasing oil consumption.

Diameter-Based Market Insights

Based on diameter, the offshore pipeline market is bifurcated into more than 24 inches and less than 24 inches. The more than 24 inches segment is expected to register a higher CAGR during the forecast period. It is anticipated that ~35,000 km of 24 inches pipeline network will be completed globally during 2018–2023, which is supporting the market growth for more than 24 inches diameter segment. The hydrocarbon flow and pressure are controlled based on the diameter of the pipe. A few of the major contractors in the market are the National Petroleum Construction Company (NPCC), Saipem, and McDermott International.

Line Type-Based Market Insights

The offshore pipeline market, by line type, is segmented into transport line, export line, and other lines. The transport line segment is anticipated to dominate the market during the forecast period. Offshore pipelines are a key component of any offshore oil and gas project. These pipelines are used to transport oil and gas products from underwater wells to the platform, and consequently oil and gas from the platform to the shore for further process and distribution.

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