Pune, Aug. 16, 2023 (GLOBE NEWSWIRE) -- The SNS Insider report indicates that, “The Offshore Pipeline Market attained a worth of $14.6 billion in 2022. Projections suggest a climb to $21.4 billion by 2030, with an anticipated compound annual growth rate (CAGR) of 4.9% during the forecast span spanning 2023 to 2030”.
Market Report Scope
An offshore pipeline is a vital component of the global energy infrastructure, designed to transport various forms of hydrocarbons, such as oil and natural gas, from offshore production facilities to onshore processing plants or directly to market. These pipelines are a testament to human ingenuity and engineering prowess, enabling the efficient and safe transportation of valuable resources over vast stretches of ocean floor. Offshore pipelines are typically constructed using a combination of durable materials, including steel and corrosion-resistant alloys, to withstand the harsh marine environment and the corrosive nature of the substances they carry.
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Market Analysis
The offshore pipeline market is poised for substantial growth in the coming years, driven by a confluence of factors that are reshaping the global energy landscape and increasing the demand for efficient and reliable transportation of oil, gas, and other resources. Technological advancements have enabled the discovery and extraction of hydrocarbons from previously untapped offshore reserves. As offshore E&P activities continue to extend into deeper waters and more complex geological formations, the demand for intricate pipeline networks to transport these resources to refineries and consumers intensifies. Offshore pipelines provide a safer and more environmentally friendly option for transporting oil and gas compared to tanker shipments, which carry the risk of spills and accidents. As environmental regulations and sustainability concerns gain prominence, offshore pipelines are favored for their reduced ecological impact.
Offshore Pipeline Market Overview & Scope:
| Report Attributes | Details |
| Market Size in 2022 | USD 14.6 billion |
| Market Size by 2030 | USD 21.4 billion |
| CAGR | CAGR of 4.9% from 2023-2030 |
| Key Segments | By Line Type (Export Line, Transport Line, and Others) By Installation Technique (S LAY, J LAY, TOW IN) By Product Type (Oil, Gas, and Refined Products) By Diameter (Below 24 inches and Above 24 inches) By Depth of Operation (Shallow Water and Deep Water) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands,Rest of Europe), Asia-Pacific (Japan, South Korea,China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| 20% free customization scope (equivalent to 50 analyst working hours) | If you need specific information as per your business requirement, which is not currently within the scope of the report, we will provide it to you as a part of customization. |
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Impact of Recession
The impact of a recession on the offshore pipeline market can be substantial, with reduced investment, supply chain disruptions, and financial constraints affecting short-term prospects. However, the industry's resilience, technological innovation, and adaptive strategies can contribute to its recovery and long-term growth, ensuring its continued role in the global energy landscape.
Impact of Russia-Ukraine War
The Russia-Ukraine war has significantly influenced the offshore pipeline market by accentuating the importance of energy security, diversification of supply routes, regulatory scrutiny, infrastructure modernization, emerging markets, investment priorities, technological innovation, and environmental considerations. These factors collectively contribute to a shifting landscape in which offshore pipelines play an increasingly vital role in shaping global energy dynamics.
Key Regional Development
In North America, the offshore pipeline market has witnessed notable shifts in recent years. The advancement of shale gas and oil production has significantly impacted the region's energy landscape. As technology improves, the extraction and transportation of resources from offshore fields become more economically viable. The Asia-Pacific region has experienced substantial growth in energy consumption due to rapid industrialization and urbanization. This has led to increased investments in offshore pipeline infrastructure to secure energy supply.
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Key Takeaway from Offshore Pipeline Market Study
- The market is undergoing a seismic shift, and Export Line Segment and Oil Segment have emerged as true titans in this arena. Their unwavering dedication to revolutionizing traditional practices, coupled with a focus on sustainability and technological excellence, sets them apart as market leaders.
- By fostering partnerships with leading research institutions, regulatory bodies, and environmental agencies, these two trailblazing entities are not only dominating the market but also shaping its future trajectory.
Recent Developments Related to Offshore Pipeline Market
- In a groundbreaking move set to reshape the landscape of offshore oil extraction, ONGC (Oil and Natural Gas Corporation) has commenced a landmark operation to evacuate oil from the Panna field utilizing a state-of-the-art subsea pipeline system.
- McDermott, a renowned leader in the energy and engineering sector, has recently achieved a significant milestone by securing a crucial contract for the Qatar North Field Expansion Subsea and Pipeline project. This contract underscores McDermott's unwavering commitment to delivering cutting-edge solutions for complex offshore projects.
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Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of Russia- Ukraine War
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Offshore Pipeline Market Segmentation, By Line Type
8.1 Export Line
8.2 Transport Line
8.3 Others
9. Offshore Pipeline Market Segmentation, By Installation Technique
9.1 S LAY
9.2 J LAY
9.3 TOW IN
10. Offshore Pipeline Market Segmentation, By Product Type
10.1 Oil
10.2 Gas
10.3 Refined Products
11. Offshore Pipeline Market Segmentation, By Diameter
11.1 Below 24 inches
11.2 Above 24 inches
12. Offshore Pipeline Market Segmentation, By Depth of Operation
12.1 Shallow Water
12.2 Deep Water
13. Regional Analysis
13.1 Introduction
13.2 North America
13.3 Europe
13.4 Asia-Pacific
13.5 The Middle East & Africa
13.6 Latin America
14. Company Profile
14.1 Subsea 7
14.1.1 Company Overview
14.1.2 Financials
14.1.3 Product/Services/Offerings
14.1.4 SWOT Analysis
14.1.5 The SNS View
14.2 Saipem
14.3 National Petroleum Construction Company
14.4 McDermott
14.5 Sapura Energy Berhad
14.6 John Wood Group PLC
14.7 Fugro
14.8 Tenaric
14.9 Jesco
14.10 Technip
15. Competitive Landscape
15.1 Competitive Benchmarking
15.2 Market Share Analysis
15.3 Recent Developments
16. USE Cases and Best Practices
17. Conclusion
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