Offshore Pipeline Market Size, Trends and Growth Analysis by 2027

In 2019, the offshore pipeline market was valued at approximately US$ 11.97 billion and is anticipated to grow to around US$ 15.01 billion by 2027, reflecting a compound annual growth rate (CAGR) of 3.1% from 2020 to 2027.

The offshore pipeline sector is poised for significant expansion during the forecast period, primarily driven by an increase in natural gas initiatives and the exploration of new oil fields, especially in isolated areas. Furthermore, the diminishing oil and gas reserves in several nations are fueling the need for cross-border pipelines to facilitate the transportation of oil and gas products. The market for offshore pipelines is categorized based on diameter, line type, and product type. Among these, the gas segment is projected to experience the highest CAGR throughout the forecast period. Regions like North America are witnessing substantial growth in shale gas discoveries, which in turn boosts the demand for offshore pipelines. In terms of line type, the transport line segment is expected to lead the offshore pipeline market during the forecast period. The increasing need for refined products is driving the installation of transport lines globally, thereby enhancing the growth of the offshore pipeline market. Additionally, transport lines are typically longer and span extensive areas, including cross-border pipelines.

Geographically, Europe is forecasted to dominate the offshore pipeline market from 2020 to 2027. The discovery of oil and gas reserves, particularly in Eastern Europe, is significantly contributing to the growth of the offshore pipeline market in this region. Europe is also expected to achieve the highest CAGR during the forecast period. North America is projected to hold the second-largest share of the offshore pipeline market during the same period. The rise in offshore oil and gas operations in the Gulf of Mexico is further propelling the growth of the offshore pipeline market in North America. According to the BP Statistical Review of World Energy 2019, approximately 13.7% of the world?s proven oil reserves are located in North America. Additionally, there is a growing demand for offshore pipeline networks among ASEAN countries, while nations like China and India are experiencing a surge in the need for natural gas and refined products.

The overall size of the offshore pipeline market has been determined through a combination of primary and secondary research methods. The research process commenced with extensive secondary research utilizing both internal and external sources to gather qualitative and quantitative data related to the offshore pipeline market. This approach also aims to provide a comprehensive overview and forecast of the offshore pipeline market across all segments. Furthermore, it offers insights and forecasts for the global offshore pipeline market segmented by five major regions: North America, Europe, Asia Pacific, Middle East and Africa (MEA), and South America (SAM). In addition, primary interviews were conducted with industry stakeholders and experts to validate the data and gain deeper analytical insights into the subject matter. Participants in this process included industry professionals such as vice presidents, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the offshore pipeline market.