Offshore Oil and Gas Pipeline Market

Offshore Oil & Gas Pipelines Market Overview

Offshore pipelines are used for the purpose of transferring oil and natural gas through pipes in the oil & gas industry. It is one of the most efficient, most reliable, and fastest modes of transporting oil and natural gas. The design, operation, and construction of offshore pipelines need elements of risk management to reduce adverse effects from the perspective of business, technical, societal, and environmental factors. These pipelines require a coating that protects them from seawater corrosion. It is complemented with cathodic protection to offer protection at coating defects or holidays.

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Major Offshore Oil & Gas Pipelines Market Drivers

Offshore pipelines are considered the most economical mode of transportation of oil & natural gas. This factor plays a significant role in driving the growth of the global offshore oil & gas pipelines market. Offshore pipelines have several benefits, which include enhanced efficiency and better oil capacity with a low carbon footprint. Moreover, it requires less energy consumption as compared to gas carriers and oil tankers. Due to the rise in demand for energy, oil & gas, the companies now prefer offshore activities than onshore for lucrative benefits as high cost-effectiveness of offshore oil & gas supply chain. The increase in energy demand and the benefits of offshore pipelines are surging the growth of the global offshore oil & gas pipelines market.

On the contrary, the Covid-19 pandemic has shut down many companies due to the financial crisis. The oil & gas industry has experienced the same due to the decline in demand for fuel, as the worldwide lockdown has halted the transportation sector as governments banned travel privileges. This factor has directly impacted the demand for oil and has become a restrain in the growth of the global offshore oil & gas pipelines market.

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Based on the product, the market is segmented into oil, gas, and refined products. The gas segment is projected to grow at a higher CAGR during the forecast period owing to the high demand for natural gas. Natural gas is being increasingly used as a fuel in household heating, power generation, transportation, and other applications. This increase in the demand for natural gas is attributed to the high abundance, clean-burning characteristics, and versatility of the natural gas. These factors contribute to the growth of the gas segment in the global offshore oil & gas pipelines market.

Based on the type, the market is segmented into export line, transport line, and others. The transport line segment is anticipated to witness a faster CAGR over the forecast period. This is attributed to the high adoption of pipelines for the transmission of oil and natural gas by most of the oil & gas companies as pipelines are corrosion-free and cost-effective. These features play a significant role in propelling the growth of the transport line segment in the global offshore oil & gas pipelines market.

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Regional – Segment Analysis

Based on the region, Europe region is expected to grow at a higher CAGR over the forecast period. This is mainly due to the high energy consumption by various countries, such as UK, Germany, and France. The North Sea is the major contributor in the exploration & production of oil & gas in Europe. The increasing demand for energy is further growing the production of oil & gas to meet the energy demand in Europe. This rise in production requires an offshore pipeline for cost-competitive processes. These factors play a significant role in surging the growth of the global offshore oil & gas pipelines market in Europe.

Top Market Players

Various notable players operating in the market include Saipem, TechnipFMC plc, Subsea 7 S.A., Sapura Energy Berhad, John Wood Group PLC, Petrofac Limited, Fugro, Enbridge Inc, McDermott, and Cortez Subsea, among others. 

Key Developments:

• • In 2020, TechnipFMC plc was awarded two contracts and a letter of intent from Equinor for subsea installation and pipelaying for three projects on the Norwegian continental shelf (NCS). These projects include the gas import system for the Snorre Expansion Project, Breidablikk, and Askeladdvest.
  • In 2020, Saipem was awarded an EPCI contract in the Kingdom of Saudi Arabia by Saudi Aramco. The scope of work consists of offshore construction and installation, design, procurement, engineering of a carbon steel pipeline onto the present network.

Segments covered in the Report:

The global offshore oil & gas pipelines market has been segmented on the basis of product, type, and regions. Based on product, the market is segmented into oil, gas, and refined products. Based on type, the market is segmented into export line, transport line, and others. Based on region, the global hard disk drive market is segmented into North America, Europe, Asia-Pacific, and roW. 

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Key questions answered in this research report:

• • At what pace is global offshore oil & gas pipelines market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in offshore oil & gas pipelines market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global offshore oil & gas pipelines market?
  • Which product generated maximum revenues in 2019 and identify the most promising product during the forecast period?
  • What are the various type areas of global offshore oil & gas pipelines market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Product, By Type, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Saipem, TechnipFMC plc, Subsea 7 S.A., Sapura Energy Berhad, John Wood Group PLC, Petrofac Limited, Fugro, Enbridge Inc, McDermott, Cortez Subsea, among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Offshore Oil & Gas Pipelines Market by Product

• • Oil
  • Gas
  • Refined Products

Global Offshore Oil & Gas Pipelines Market by Type

• • Export Line
  • Transport Line
  • Others

Global Offshore Oil & Gas Pipelines Market by Region

• • North America Offshore Oil & Gas Pipelines Market (Option 1: As a part of the free 25% customization)

    • North America Offshore Oil & Gas Pipelines Market by Product
    • North America Offshore Oil & Gas Pipelines Market by Type
    • US Offshore Oil & Gas Pipelines Market All-Up
    • Canada Offshore Oil & Gas Pipelines Market All-Up

  • Europe Offshore Oil & Gas Pipelines Market (Option 2: As a part of the free 25% customization)

    • Europe Offshore Oil & Gas Pipelines Market by Product
    • Europe Offshore Oil & Gas Pipelines Market by Type
    • UK Offshore Oil & Gas Pipelines Market All-Up
    • Germany Offshore Oil & Gas Pipelines Market All-Up
    • France Offshore Oil & Gas Pipelines Market All-Up
    • Spain Offshore Oil & Gas Pipelines Market All-Up
    • Rest of Europe Offshore Oil & Gas Pipelines Market All-Up

  • Asia-Pacific Offshore Oil & Gas Pipelines Market (Option 3: As a part of the free 25% customization)

    • Asia-Pacific Offshore Oil & Gas Pipelines Market by Product
    • Asia-Pacific Offshore Oil & Gas Pipelines Market by Type
    • China Offshore Oil & Gas Pipelines Market All-Up
    • India Offshore Oil & Gas Pipelines Market All-Up
    • Japan Offshore Oil & Gas Pipelines Market All-Up
    • Rest of APAC Offshore Oil & Gas Pipelines Market All-Up

  • RoW Offshore Oil & Gas Pipelines Market (Option 4: As a part of the free 25% customization)

    • RoW Offshore Oil & Gas Pipelines Market by Product
    • RoW Offshore Oil & Gas Pipelines Market by Type
    • Brazil Offshore Oil & Gas Pipelines Market All-Up
    • South Africa Offshore Oil & Gas Pipelines Market All-Up
    • Saudi Arabia Offshore Oil & Gas Pipelines Market All-Up
    • UAE Offshore Oil & Gas Pipelines Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Offshore Oil & Gas Pipelines Market All-Up

Major Players Operating the Offshore Oil & Gas Pipelines (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Saipem
  • TechnipFMC plc
  • Subsea 7 S.A.
  • Sapura Energy Berhad
  • John Wood Group PLC
  • Petrofac Limited
  • Fugro
  • Enbridge Inc
  • McDermott
  • Cortez Subsea