Strong Growth in Offshore Pipeline Market

  • Transport line segment of offshore pipeline is likely to boost the demand in European region.
  • Europe to be the largest market for offshore pipelines.
  • Diameter Greater than 24” segment is the fastest growing segment in the offshore pipeline.

The offshore pipeline market is projected to reach $15.8 billion by 2023 at a CAGR of 6.54% from an estimated $11.5 billion in 2018. In 2018, the offshore pipeline markets in Europe were estimated to be the largest, followed by the Americas. The major factors driving the Offshore Pipeline Market include increasing demand for crude oil and natural gas, especially from the Asia Pacific region. Increasing demand for safe, economical, and reliable connectivity is expected to drive the Offshore Pipeline Market.

The offshore pipeline segments into export line, transport line, and other line. Transport line being the most common type of offshore pipeline is expected to hold the largest market share during the forecast period as the technology is a highly mature and proven technology. Approximately 25,000 km of transport line pipeline network is expected to be completed from 2018 to 2023. Europe, followed by Asia Pacific, and the Middle East, is expected to be the most attractive region in this segment, during the forecast period.

Download PDF Brochure to Get Detail Information about Offshore Pipeline Market

Europe: The Largest market for Offshore Pipelines

Europe is estimated to be the largest market from 2018 to 2023. Europe is heavily dependent on imports for its energy demands (nearly 50% consumption volumes). This dependency is expected to increase to about 70.0% over the next 15 years. Europe is mainly dependent on conventional fuels, and nearly 80% of its total consumption comes from conventional energy sources. High energy consuming countries such as the UK, France, and Germany have negligible production and high demand.

Hence, they are dependent on Russia and the Middle East for their oil supplies. Major oil & gas offshore pipeline contractors which operate in the region include Technip, Saipem, Subsea 7, Petrofac, and Allseas. The natural gas used in Europe is imported via pipelines from Central Asia, the Middle East, and Africa. Moreover, Europe is expected to add around 12,500 km of offshore pipelines during the forecast period.

Diameter Greater than 24” segment is the fastest growing segment in the offshore pipeline

Greater than 24” segment is the fastest growing segment in the offshore pipeline market. The European region, followed by the Asia Pacific and the Middle Eastern regions, is expected to be the most attractive in this segment, because of the commissioning of planned projects during the forecast period. Major contractors include Saipem, National Petroleum Construction Company (NPCC) and McDermott International.

The major players in the global offshore pipeline market are Saipem (Italy), Subsea 7 (UK), McDermott (US), Sapura (Malaysia), Wood Group (UK), Technip (UK), Fugro (Netherlands), Atteris (Australia), Penspen (UK), Petrofac (UK), and Senaat (UAE).

Request Sample Pages of the Report

Recent Developments

  • In January 2019, Saipem was awarded 2 EPCI (Engineering, Procurement, Construction, and Installation) contracts by Saudi Aramco for the offshore field development activities like laying of pipelines and subsea cables.
  • In December 2018, Saipem was awarded a contract for offshore Engineering, Procurement, Construction and Installation (EPCI) activities of the Zohr Field Development Project for 30-inch diameter gas export pipeline in deep water (up to 1700 metres) from Petrobel.
  • In December 2018, Subsea 7 Integration Alliance was awarded a sizeable flowlines contract by BP for the Manuel project in the US Gulf of Mexico for well development.
  • In December 2018, McDermott and BHGE came together as development partners for the Equus Gas Project in Australia. This Western Gas Collaboration will provide an integrated solution to develop the entire field covering drilling, subsea, production facilities, export pipeline, an LNG facility, and a domestic gas connection.

Only $1/click

Submit Your Ad Here

Pooja Gupta

Energy, Power, Oil & Gas Consultant


Leave a Reply