Offshore Pipeline Market Size To Reach $19.51 Billion By 2030

Offshore Pipeline Market Growth & Trends

The global offshore pipeline market size is anticipated to reach USD 19.51 billion by 2030 and display a CAGR of 4.2% during the forecast period, according to a new report by Grand View Research, Inc. The market is experiencing significant growth driven by the increasing demand for hydrocarbon resources, the exploration of deepwater reserves, and the expanding global liquefied natural gas (LNG) trade. Offshore pipelines are essential for connecting offshore drilling sites, especially in regions such as the Gulf of Mexico, the North Sea, and offshore Asia, to onshore processing facilities. They play a major role in ensuring a continuous and efficient supply of oil and gas to meet the energy demands of nations across the globe.

Technological advancements have been a key driving force behind the market growth. Innovations in materials, construction techniques, and monitoring systems have enhanced the efficiency, safety, and reliability of offshore pipelines. Advanced materials resistant to corrosion and high-pressure conditions have enabled the construction of pipelines in deeper waters and harsh environments. Additionally, advanced monitoring and control systems provide real-time data on pipeline integrity, ensuring early detection of any issues and prompt maintenance, hence mitigating the risks associated with offshore operations.

Market growth is also attributed to the rising importance of natural gas as a cleaner alternative to coal and oil, leading to increased investments in offshore gas pipelines. Global push toward renewable energy sources, such as offshore wind, has created opportunities for the integration of electricity transmission infrastructure within the offshore pipeline industry. Offshore pipelines are increasingly used to transport electricity generated by offshore wind farms, supporting the renewable energy sector’s growth.

Rise in global demand for LNG, particularly in regions such as Japan, South Korea, and Taiwan without access to domestic natural gas resources, has led to the development of LNG export terminals. Offshore pipelines are crucial for connecting these terminals to gas processing facilities, ensuring the efficient transport of LNG to international markets. This trend is driven due to the need for energy security, diversification of energy sources, and the economic benefits associated with LNG exports. Hence, LNG export is anticipated to fuel the offshore pipeline demand, thus benefiting the market over the forecast period.

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Offshore Pipeline Market Report Highlights

• North America accounted for the largest revenue share over 45% in 2022, owing to the abundant availability of energy resources, including significant oil and gas reserves in the Gulf of Mexico

• The greater than 24 inches diameter segment led with a revenue share of over 76.0% in 2022. This positive outlook is due to its ability to allow efficient and less friction loss transportation of a high volume of oil and natural gas

• Tow-in installation method is a cost-effective installation technique compared to S-lay and J-lay installation methods. In this method, pipelines are assembled onshore and then towed to the installation location, which eliminates the need for construction of onshore vessels

Offshore Pipeline Market Segmentation

Grand View Research has segmented the global offshore pipeline market based on diameter, product, line type, installation type, depth, and region:

Offshore Pipeline Diameter Outlook (Revenue, USD Million, 2018 - 2030)

• Below 24 Inches

• Greater Than 24 Inches

Offshore Pipeline Product Outlook (Revenue, USD Million, 2018 - 2030)

• Oil

• Gas

• Refined Products

Offshore Pipeline Line Type Outlook (Revenue, USD Million, 2018 - 2030)

• Transport Lines

• Export Lines

• Other Lines

Offshore Pipeline Installation Type Outlook (Revenue, USD Million, 2018 - 2030)

• S-lay

• J-lay

• Tow-in

Offshore Pipeline Depth Outlook (Revenue, USD Million, 2018 - 2030)

• Shallow Water

• Deepwater

Offshore Pipeline Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • Germany

  • UK

  • Italy

  • France

  • Spain

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Southeast Asia

• Rest of World

  • Latin America

  • Middle East & Africa

List of Key Players in the Offshore Pipeline Market

• SAIPEM SpA

• LARSEN & TOUBRO LIMITED

• McDermott International Ltd.

• Allseas

• China Petroleum Pipeline Engineering Co., Ltd.

• TechnipFMC plc

• SUBSEA7

• Petrofac Limited

• Penspen

• Sapura Energy Berhad

• Furgo