The offshore pipeline market is expected to grow from USD 11.5 billion in 2018 to USD 15.8 billion by 2023, at a CAGR of 6.54%, from 2018 to 2023

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Feb 18, 2019, 18:15 ET

LONDON, Feb. 18, 2019 /PRNewswire/ -- Increasing demand for safe, economical, and reliable connectivity expected to drive the overall offshore pipeline market.

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The offshore pipeline market is expected to grow from USD 11.5 billion in 2018 to USD 15.8 billion by 2023, at a CAGR of 6.54%, from 2018 to 2023. The offshore pipeline market is driven by various factors, such as increasing demand for crude oil & natural gas. However, growing demand for refined products can hinder the growth of the offshore pipeline market.

Greater than 24" segment is expected to be the fastest growing during the forecast period
The greater than 24" segment is the fastest growing segment in the offshore pipeline market.The European region is expected to have planned projects for the offshore pipeline with the addition of approximately 2,200 km by 2020.

Major contractors include Saipem, National Petroleum Construction Company (NPCC), and McDermott International.

Transport line segment is expected to grow at the highest CAGR in the offshore pipeline market during the forecast period
The transport line segment is the highest growing segment in the offshore pipeline market.The transport line segment is expected to dominate the market with approximately 25,000 km addition of offshore pipeline during the forecast period.

The major contractors for offshore pipeline market include companies such as National Petroleum Construction Company, Technip, Saipem, and Europipe.

Europe is expected to record the highest growth rate during the forecast period
Europe is expected to be the largest market during the forecast period.The region is expected to have around 12,500 km of offshore pipelines addition in the upcoming years.

The region is expected to increase its 70% demand in the next 15 years.Moreover, the region has offshore pipeline addition for around 12,500km during the forecast period.

Countries such as Russia, Georgia, and Ukarine are likely to drive the growth of the offshore pipeline market during the forecast period.
In-depth interviews have been conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the offshore pipeline market.
• By Company Type: Tier 1–60%, Tier 2–25%, and Tier 3–15%
• By Designation: C-Level- 40%, D-Level- 35%, and Others- 25%
• By Region: Asia Pacific- 40%, Americas- 21%, Europe- 15%, Middle East - 13%, and Africa- 11%

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)

Research Coverage:
The market study covers the offshore pipeline market across different segments.It aims at estimating the market size and the growth potential of the market, across different segments, such as products, line type, diameter, and region.

The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key Benefits of Buying the Report
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the offshore pipeline market and the subsegments.This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and to plan suitable go-to-market strategies.

The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

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