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Offshore Pipeline Market Worth $15.8 Billion by 2023 - Exclusive Report by MarketsandMarkets™
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Greater than 24" segment is the fastest growing segment in the Offshore Pipeline Market. The European region, followed by the Asia Pacific and the Middle Eastern regions, is expected to be the most attractive in this segment, because of the commissioning of planned projects during the forecast period. Major contractors include Saipem, National Petroleum Construction Company (NPCC) and McDermott International.
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Transport line being the most common type of offshore pipeline is expected to hold the largest market share during the forecast period as the technology is a highly mature and proven technology. Europe , followed by Asia Pacific , and the Middle East , is expected to be the most attractive region in this segment, during the forecast period.
Europe is expected to have the highest growth rate during the forecast period, due to increasing imports for its energy demands. The demand for oil and gas is expected to increase to about 70.0% over the next 15 years. Europe is mainly dependent on conventional fuels, and nearly 80% of its total consumption comes from conventional energy sources. The natural gas used in Europe is imported via pipelines from Central Asia , the Middle East , and Africa . Moreover, Europe is expected to add around 12,500 km of offshore pipelines during the forecast period.
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Major vendors in the include 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).
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