Press release
Global Offshore Pipeline Market Size To Grow At A CAGR Of 5.8% In The Forecast Period Of 2023-2028
Offshore Pipeline Market Size, Share, Price Trends, Industry Report, Key Player, Major Segments, and Forecast
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The key highlights of the report include:
Market Overview (2018-2028)
Forecast CAGR (2023-2028): 5.8%
The global offshore pipeline market is expected to register growth in the span of the forecast period because of the rising demand for natural gas. This has further led to the finding of innovative gas fields as well as the adoption of cheap and easy transportation of natural gas exports across subsea pipelines. These are likely to aid the market growth of offshore pipelines across the globe.
The increasing natural gas production and exploration and the rise in oil and gas production companies are expected to propel the market growth with recent cost reductions as well as significant technology improvements. With an increasing population, rapid industrialisation, and growing technological developments aimed at reducing project costs as well as enhancing efficiencies in various offshore pipeline projects, the offshore pipeline market demand is likely to bolster over the forecast period.
Offshore Pipeline Industry Definition and Major Segments
Offshore pipeline, also known as submarine pipelines, are lines of pipes that are embedded into the seabed or below the seabed level inside of trenches. These pipelines are used to transport materials such as oils or gases and can also be used for refined products or water. They form an important component of subsea transportation systems, crossing land and water expanses, capable of moving materials across long distances.
Read Full Report with Table of Contents: https://www.expertmarketresearch.com/reports/offshore-pipeline-market
On the basis of line type, the market is segmented into:
Export Line
Transport Line
Others
By product type, the market is classified into:
Oil
Gas
Refined Products
Based on region, the market is divided into:
North America
Latin America
Asia Pacific
Europe
Middle East and Africa
Offshore Pipeline Market Trends
Geographically, the North American region is anticipated to drive the offshore pipeline market growth on account of the increasing investment in offshore oil and gas exploration activities. The oil and gas pipeline infrastructure in economies such as Canada and the United States are likely to enhance the market growth of offshore pipelines across the region. The strong presence of major market players like Energy Transfer LP, and Enbridge Inc., among others, are likely to boost the market growth of offshore pipelines across the region.
The United States is anticipated to register substantial growth in the market of offshore pipelines with the surging activities in the Gulf of Mexico. The emergence of upcoming new projects in gas production is likely to fuel the market growth of offshore pipelines across the country. The growing offshore technology in the North American region along with increasing offshore pipeline construction is expected to propel market growth in the region.
Meanwhile, the Asia Pacific region is anticipated to gain momentum over the coming years in the offshore pipeline market growth on account of the rising demand for refined products as well as natural gas, especially in countries such as India and China. Europe is expected to witness growth in the market of offshore pipelines due to the high usage of energy in countries like France, Germany, and the United Kingdom.
Key Market Players
The major players in the global offshore pipeline market report are Saipem SpA, Enbridge Inc., Energy Transfer LP, TechnipFMC plc, McDermott International, Ltd, Sapura Energy Berhad, Atteris Pty Ltd, John Wood Group PLC, and Fugro Group, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter's Five Forces Models.
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