Global Offshore Pipeline Market (2022 to 2027) - Growth, Trends, COVID-19 Impact and Forecasts - ResearchAndMarkets.com

The "Offshore Pipeline Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" report has been added to ResearchAndMarkets.com's offering.

The offshore pipeline market is expected to register a CAGR of more than 6% during the forecast period of 2022 - 2027.

Companies Mentioned

• Saipem SpA
• L&T Hydrocarbon Engineering Limited
• McDermott International, Ltd.
• Allseas Group SA
• Bourbon Corporation SA
• Enbridge Inc.
• Subsea 7 SA
• Genesis Energy, L.P.
• China Petroleum Pipeline Engineering Co., Ltd.
• Atteris LLC

Key Market Trends

Gas Segment to Witness Significant Growth

• The increasing demand for natural gas has led to the discovery of new gas fields and further adoption of easy and cheap transportation of natural gas exports through subsea (offshore) pipelines are expected to drive the offshore pipeline market.
• Global natural gas production has recorded at 3853.7 billion cubic meters in 2020. North America is the leading natural gas producer and accounts for about 1109.9 billion cubic meters, followed by Middle-East and Africa with 917.9 billion cubic meters. This is expected to drive the offshore pipeline market during the forecast period.
• Furthermore, in October 2021, Guyana has announced plans to build a 220km-long subsea (offshore) gas pipeline. The proposed pipeline will have a gas transport capacity of about 50 million standard cubic feet per day (MMSCFD) from ExxonMobil-operated Liza Phase 1 and 2 projects.
• In January 2022, Abu Dhabi National Oil Company has announced the discovery of raw gas (between 1.5 to 2 trillion standard cubic feet) in an offshore area located in the northwest of the Emirates.
• Moreover, the recent waves of cost reductions and critical technological breakthroughs enabled many oil and gas exploration and production companies to expand their portfolio of sustainable deepwater and ultra-deepwater developments. As a result, the offshore pipeline market is expected to witness significant growth in the near future.
• Therefore, owing to the above points, the gas segment is expected to witness dominant growth during the forecast period.

North America to Dominate the Market

• North America is expected to dominate the global market share for the offshore pipeline market during the forecast period. The countries are trying to invest in offshore oil and gas exploration activities. During the forecast period, oil and gas pipeline infrastructure in the countries like the United States and Canada are expected to continue running at full capacities.
• With the increasing activities in the Gulf of Mexico, the United States is expected to witness significant growth in the offshore pipeline market. The upcoming 18 new projects of gas production are believed to hold a combined 836 billion cubic feet of natural gas reserves.
• In 2021, BP announced the commencement of the Manuel project in the US Gulf of Mexico. The project includes a new subsea production system for two new wells tied into the Na Kika platform. The wells are expected to boost gross platform production by an estimated 20,100 barrels of oil equivalent a day (boe/d).
• Moreover, the Canadian pipeline industry is expected to experience stable and robust growth over the next several years, due to the technological advancements. Also, the Canadian oil and gas sector may record high levels of production, with the pipelines considered as the safest and most reliable cost-effective way to meet the energy requirement for high-value end-user markets.
• Therefore, North America is expected to be the dominant region in the offshore pipeline market, supported by increasing investments in oil and gas projects during the forecast period.

Key Topics Covered:

1 INTRODUCTION

2 EXECUTIVE SUMMARY

3 RESEARCH METHODOLOGY

4 MARKET OVERVIEW

4.1 Introduction

4.2 Market Size and Demand Forecast in USD billion, till 2027

4.3 Crude Oil Historic Trend and Production Forecast in million barrels per day, Global, until 2027

4.4 Brent Crude Oil and Henry Hub Spot Prices, until 2021

4.5 Natural Gas Historic Trend and Production Forecast in billion cubic feet per day (bcf/d), Global, until 2027

4.6 Recent Trends and Developments

4.7 Government Policies and Regulations

4.8 Market Dynamics

4.8.1 Drivers

4.8.2 Restraints

4.9 Supply Chain Analysis

4.10 Porter's Five Forces Analysis

4.10.1 Bargaining Power of Suppliers

4.10.2 Bargaining Power of Consumers

4.10.3 Threat of New Entrants

4.10.4 Threat of Substitute Products and Services

4.10.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION

5.1 Product Type

5.1.1 Oil

5.1.2 Gas

5.2 Geography

5.2.1 North America

5.2.2 Europe

5.2.3 Asia-Pacific

5.2.4 South America

5.2.5 Middle-East and Africa

6 COMPETITIVE LANDSCAPE

6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

6.2 Strategies Adopted by Leading Players

6.3 Company Profiles

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/280z8p

View source version on businesswire.com: https://www.businesswire.com/news/home/20220607005684/en/