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Global Offshore Pipeline Market
Global Offshore Pipeline Market size was valued at US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027 to exhibit a CAGR of XX % during the forecast period.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding global offshore pipeline market dynamics, structure by identifying and analyzing the market segments and project the global market size.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the global offshore pipeline market.
Offshore pipelines cover the full scope of pipeline progress from pipeline designing, installing, and testing to working. It focuses on governing bending stresses and pipe stability during laying pipelines. Offshore pipelines provide advantages like improving the insulation of deep-sea pipelines, reduce installation costs, upsurge oil and gas flow and expand resistance against exterior deep-sea pressures.
The growth of the offshore pipeline market is driven by amplified demand for oil and natural gas, increase in the production of offshore production, and demand for cheaper methods of transportation have stimulated companies to fast-track the process of building pipelines for transportation. Also increasing demand for safe, economical, and reliable connectivity is anticipated to boost the growth of the offshore pipeline market. However, rising demand for refined products can hamper the progress of the offshore pipeline market.
Severe climatic conditions & high construction cost are the major challenges to the growth of the global offshore pipeline market. Offshore or ultra-deepwater discoveries and increasing demand for refined products are expected to generate opportunities for the global offshore pipeline market.
The transport line segment is expected to grip the larger share of the global offshore market owing to the growing transport line pipeline network in different applications. Approximately 25,000 km of transport line pipeline network is projected to be completed in the last few years. The increasing growth of this segment in Europe, Asia Pacific, and the Middle East, is expected to dominate this region during the forecast period.
The Greater Than 24 Inch diameter segment is anticipated to grow at highest CAGR during the forecast period because of the massive growth of this type of pipeline in recent years. Almost 35,000 km of 24 pipeline network is anticipated to be completed from 2018 to 2023. Also, the market of Europe, Asia Pacific and Middle Eastern regions has anticipated the growth of this segment during the forecast period.
Europe is projected to grow rapidly during the forecast period owing to Europe is highly dependent on conventional fuels, and almost 80% of its entire consumption comes from conventional energy sources. High energy consuming countries like the UK, France, and Germany have small production and high demand. Main oil & gas offshore pipeline contractors which work in the region contain Technip, Saipem, Subsea 7, and Petrofac are driving the growth of this region in the global market.
Global Offshore Pipeline Market, by Diameter
• Below 24 Inch
• Transport Line
• North America
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