Vertical: EnPBase Year: 2018
Market Size (2018)
$12.05B
Projected (2025)
$19.00B
CAGR (2017–2025)
6.6%
Key Players
10+
The demand for offshore pipeline is growing rapidly, across the globe, owing to various factors including the increasing demand for natural in Asia-Pacific and rising investments in offshore pipeline infrastructure.
The global offshore pipeline market is projected to grow at 6.82% CAGR during the forecast period, 2019–2025. In 2018, the global offshore pipeline market was dominated by North America with a 33.58% share, followed by Asia-Pacific and Europe with shares of 25.10% and 18.50%, respectively.
The global offshore pipeline market has been segmented based on product, line type, diameter, and country. On the basis of product, the global offshore pipeline market has been segmented as oil, gas, and refined product. The gas segment is expected to grow at the fastest rate during the forecast period. In 2018, the gas segment held a 37.00% share of the global offshore pipeline market.
On the basis of line type, the global offshore pipeline market has been segmented as export line and transport line. The transport line segment is expected to grow at the faster rate during the forecast period. In 2018, the transport line segment held a 53.10% share of the global offshore pipeline market.
On the basis of diameter, the global offshore pipeline market has been segmented as below 24″ and greater than 24” segment is expected to grow at the faster rate during the forecast period. In 2018, the greater than 24 segment held a 69.80% share of the global offshore pipeline market.
On the basis of region, the global offshore pipeline market has been segmented as the North America, Europe, Asia-Pacific, Middle East & Africa, and South America. In 2018, North America held a 33.58% share of the global offshore pipeline market.
The Offshore Pipeline Market market is projected to grow at a CAGR of 6.6% from 2017 to 2025.
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View Subscription PlansOffshore pipelines are placed on the seabed or below the seabed inside a trench. These pipelines are connected to the land with the well head or process platform. Offshore pipelines are used in the oil & gas industry to transfer oil through the closed tubes. It is one of the fastest and reliable modes of transporting offshore oil and gas. The advantages of offshore pipelines include improved efficiency and oil capacity.
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View Subscription PlansThis report applies a rigorous multi-stage research process combining primary interviews, secondary data sources, and bottom-up market modelling to ensure accuracy and completeness across all segments and geographies.
Base Year
2018
Historical Period
2017 – 2017
Forecast Period
2019 – 2025
Primary Interviews
150+
Historical data (2017–2018) and forecast period (2018–2025)
Our research process spans primary interviews with industry stakeholders combined with comprehensive secondary data analysis, validated through triangulation across multiple independent sources.
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View Subscription PlansThe global offshore pipeline market is characterized by the presence of many global, regional, and local vendors. The market is highly competitive with all the players constantly competing to gain market share. Intense competition, rapid advances in technology, frequent changes in government policies, and stringent environmental regulations are some of the key factors that could restrain market growth. The vendors compete based on cost, product quality, reliability, and aftermarket services. It is crucial for vendors to provide cost-effective and efficient communication devices to survive and succeed in an intensely competitive market environment.
The growth of the market vendors is dependent on market conditions, government support, and industry development. Thus, the vendors should focus on expanding geographically and improving services. Sapiem, Subsea 7 SA, TechnipFMC Plc, Wood PLC, McDermott, Sapura Energy Berhad, and Fugro are some of the major companies in the market. Some of the other companies operating in the global offshore pipeline market include Petrofac Limited, Embridge Inc, Cortez Subsea, and McDermott. These companies compete in terms of availability, quality, price, and technology. Although the international players are dominating the market, regional and foreign players with small market shares also have a significant presence. The international players may strengthen their presence in the global market by heavily investing in product development during the forecast period. The improvement of the global economic scenario, owing to the combined efforts to enhance infrastructure in emerging nations, is expected to fuel the market growth during the forecast period. This makes it an ideal time for the companies to offer offshore pipeline solutions and increase their market shares, globally.
Threat of New Entrants
The cost of research and development of offshore pipelines is high. The high technological complexity also acts an entry barrier in the market as pipelines are a critical part in the transportation of oil and gas. The global offshore pipeline market is dominated by a few large players, who hold a substantial market share. Additionally, the pipelines are highly regulated and constructed as per the industry standards. Therefore, for supplying high-quality products to the midstream oil & gas industry, the players in the market require technologically advanced methods that might be difficult for the new players to follow. Thus, the threat of new entrants in the global offshore pipeline market is low.
Bargaining Power of Suppliers
There are numerous suppliers of raw materials for offshore pipelines. Some of the important raw materials for pipelines include stainless steel, aluminum, and alloys. The demand for offshore pipelines is expected to increase during the forecast period, leading to an increase in the number of industry participants and raw material suppliers, increasing the concentration of raw material suppliers. Therefore, the concentration of raw material suppliers is high. This is expected to limit the bargaining power of suppliers. Although the differentiation within the raw materials is low, the pipeline industry is highly regulated. Therefore, the suppliers have to supply raw materials as per the industry requirements, which increases the cost of switching suppliers. This increases the bargaining power of suppliers. Thus, the bargaining power of suppliers in the global offshore pipeline market is expected to be moderate.
Bargaining Power of Buyers
The buyers in this market are mostly the upstream players of the global oil & gas industry and they include Chevron Corporation (US), Exxon Mobil Corporation (US), and Saudi Arabian Oil Co. (Saudi Arabia). The concentration of buyers in the market is high owing to the increasing demand for oil and gas, which limits their bargaining power. However, offshore pipelines have bulk buyers, which gives them the capability to exert substantial pressure on the offshore pipeline providers to offer better quality products at reasonable prices, increasing the bargaining power of buyers. Additionally, the switching cost for buyers is low as product differentiation is low in the market. Moreover, the high impact of brand identity creates a dependence on the established players, which further adds to the bargaining power of buyers. Therefore, the bargaining power of buyers is expected to be moderate in the global offshore pipeline market during the forecast period.
Threat of Substitutes
There are no direct substitutes available for offshore pipelines. The only available alternative to offshore pipelines are marine vessels. However, due to the intense rivalry in the offshore pipeline market, the price differentiation of offshore pipelines provided by different companies is low. Although marine vessels are widely used for the transportation of oil and gas, the midstream oil and gas operations depend on pipelines for the continuous supply and transportation of oil and gas for downstream activities. Thus, the growth of the global offshore pipeline market is proportionate to the growth of the global oil & gas market. Hence, the threat of substitutes for the global offshore pipeline market is expected to be moderate.
Rivalry
The global offshore pipeline market is highly competitive, and the key players in the market focus on developing advanced methods for manufacturing pipelines and lowering their prices to increase their shares in the market. Moreover, the use of offshore pipelines is expected to increase at a significant rate with the growing demand for oil and gas transportation. Therefore, there is high competition among the existing players in the market, which is expected to rise during the forecast period. Such factors are expected to make the intensity of rivalry high.
Market estimates by geography (2025)
InsightNorth America leads with $6.52B by 2025.
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View Subscription Plans| REGION | 2017 | 2018 | 2025 | CAGR | SHARE |
|---|---|---|---|---|---|
| Middle East and Africa | $1.76B | $2.19B | $2.79B | 5.9% | 15% |
| North America | $3.80B | $4.91B | $6.52B | 7.0% | 34% |
| Asia Pacific | $2.85B | $3.66B | $4.85B | 6.9% | 26% |
| Europe | $2.10B | $2.69B | $3.55B | 6.8% | 19% |
| South America | $854.80M | $1.03B | $1.28B | 5.2% | 7% |
| Total | $11.36B | $14.49B | $19.00B | 6.6% | 100% |
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View Subscription PlansTotal Market Size
$19.00B
| APPLICATION | REVENUE ($B) | GROWTH RATE | MARKET PENETRATION |
|---|---|---|---|
| Gas | $7.02B | 6.6% | 37% |
| Oil | $6.16B | 6.5% | 32% |
| Refined Product | $5.81B | 6.8% | 31% |
* Revenue projections based on 2025 estimates. Growth rates represent CAGR 2024–2030. Market penetration indicates current adoption rate within addressable market segments.
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Analytical insights on Offshore Pipeline Market covering market dynamics, competitive landscape, and strategic outlook.
The Offshore Pipeline Market market is projected to reach $19.00B by 2025, growing at 6.6% CAGR. The Gas segment holds the largest share.
Natural gas is a naturally occurring hydrocarbon gas mixture consisting of methane, nitrogen, carbon dioxide, and other gases. Natural gas is formed from the remains of plants and animals buried below the thick ocean floors and the earth’s surface over millions of years ago, which are subjected to intense heat and pressure under the deposits of sedimentary rocks. Natural gas generally occurs and is extracted with oil from the reservoirs. Natural gas is the non-renewable fossil fuel energy source, which is widely used for cooking, heating, and electricity generation purposes in the form of liquefied natural gas (LNG). Moreover, natural gas can also be compressed and used as a fuel for vehicles in the form of compressed natural gas (CNG). The demand for natural gas increases with the growing use of natural gas in domestic, power generation, industrial, commercial buildings, transportation, manufacturing, and other applications for various processes. The increased use of natural gas has led to the exploration & production (E&P) of natural gas and its transportation through pipelines. Natural gas is transported through pipelines with the help of compressors, which create pressure difference within the pipelines so as to allow the flow of gas from an area of high pressure to an area of relatively low pressure.
The demand of natural gas is rising in Asia-Pacific owing to the increase in use of natural gas in various industries. According to the BP Statistical Review of World Energy 2019, natural gas production in Asia-Pacific grew from 607.5 billion cubic meter (bcm) in 2017 to 631.7 bcm in 2018, with an annual growth rate of 4.0%. Moreover, as per the International Energy Agency (IEA), the Asian market is going to be one of the prominent regional markets for natural gas. Additionally, in India, the Oil and Natural Gas Corporation (India) approved the phase three development of Mumbai High Field in 2014 to increase the production of natural gas to 5.253 bcm by 2030. Additionally, in India, in May 2016, the Ministry of Petroleum & Natural Gas announced the commencement of 36 offshore oil & gas fields as part of the Discovered Small Field (DSF) Bid Round – 2016, for boosting the domestic production of oil and gas in the country According to the BP Statistical Review of World Energy 2019, Indonesia has the third-largest natural gas reserves in Asia-Pacific.
In Indonesia, the Ministry of Energy and Minerals approved the development plan for the Mako Gas field located in the Duyung PSC, Indonesia in 2019. Moreover, in June 2019, Inpex Corporation (Japan) signed a contract worth USD 20 billion with the Indonesian government for Abadi LNG project to produce approximately 9.5 million tons of LNG, annually. Moreover, in Australia, Chevron Corporation (US) announced the offshore development of Gorgon natural gas project, worth USD 18-20 billion. It is planned to be located on the northwest coast of Western Australia with the objective to produce 15.6 million tonne per annum of natural gas. Therefore, the transportation and production of natural gas is expected to increase the use of offshore pipelines. Hence, the increasing demand for natural gas in Asia-Pacific is expected to drive the growth of the global offshore pipeline market during forecast period.
Refined products include products such as gasoline, kerosene, and lubrication oils which are derived from crude oils through processes such as fractional distillation and catalytic cracking. Refining is one of the essential processes for the transformation of crude oils into various refined products. The refining processes of crude oil consists of the three starges, namely, separation, conversion, and treating. The demand for refined products are expected to increase with the demand of fuels in transportation, energy, manufacturing, and other industries. For instance, as per the World Oil Outlook 2017 report, the demand of oil and gas as primary energy fuels is expected to grow annually at 0.6% and 1.8%, respectively between 2015 and 2040. Similary, the global oil demand in the road transportation is expected to reach 48.3 million barrels per day (mb/d) by 2040. In India and other developing countries, the demand for refined products, such as oil and natural gas are expected to grow significantly. For instance, as per the Indian government, the demand of oil is projected to jump by 61% to reach 350 million tonnes of oil equivalent by 2030.
Moreover, as per the Ministry of Petroleum and Natural Gas Annual Report 2016-2017, the Indian government planned to invest USD 723.81 million for the development of two gas pipeline projects in India. In addition to this, the development of City Gas Distribution project also leads to an increase in demand for natural gas, which is expected to increase the use of pipelines in refineries. The below graph depicts the global oil demand trend between 2017–2040 as per New Policies Scenario:
Various countries in the world including India, Germany, and Japan, are investing on the E&P of oil and gas to meet the growing demand for refined products. For instance, in 2018, Rosneft (Russia) announced to invest approximately USD 690 million for oil & gas E&P activities in Germany for the next five years. Moreover, in June 2019, W&T Offshore (US) announced an oilfield discovery in the Mississippi Canyon block in North America. Such discoveries are expected to increase the demand for refined products, which eventually raises the use of pipelines during the forecast period. Therefore, such developments in the oil & gas industry leading to the demand for refined products acts as an opportunity for the players in the market during the forecast period.
Geopolitical instability refers to the disturbances due to the influence of various geographic and political factors while geological challenge is the instability in the geology of a particular area or place including drastic environmental changes. These are the major concerns for the oil & gas industry operators. Rapid urbanization, climatic changes, internal conflicts, and changes in oil prices, demand & supply risks, and political extremism are some of the factors that usually lead to the conditions of geopolitical and geological instability in countries. Such conditions play an important role in the growth of the pipeline market as they help in diversifying pipeline supply routes, trading partners, and economic ties between the countries. Moreover, instability also results in cancellation, delay, interruption, financial loss in offshore pipeline projects, and also lead to on-hold projects. For instance, in 2016, Saipem (Italy) filed an arbitration claim to Gazprom (Russia) of worth approximately USD 823 million for the cancellation of natural gas pipeline project in the black sea. Furthermore, political instability leads to delay in the construction of the offshore oil & gas projects, which hampers the growth of the offshore pipeline market.
For instance, Middle East to India Deepwater Pipeline project which was proposed for enabling the supply gas from Iran and Oman to India got delayed due to various challenges such as political and technological challenges. Moreover, the geological occurrences such as tsunamis and volcanoes create huge challenges for the installation and deployment of offshore pipelines. Such factors hinder the installation and working of the offshore pipelines. Therefore, the geopolitical and geological instability is expected to restrain the global offshore pipeline market growth.
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Profiles of 108 companies operating in the Offshore Pipeline Market market, including revenue, employee count, and market positioning where available.
Showing 108 of 108 companies
Normal 0 false false false EN-US X-NONE X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:""; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin-top:0cm; mso-para-margin-right:0cm; mso-para-margin-bottom:8.0pt; mso-para-margin-left:0cm; line-height:107%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Roboto Condensed"; mso-ascii-font-family:"Roboto Condensed"; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:"Roboto Condensed"; mso-hansi-theme-font:minor-latin; mso-ansi-language:EN-US; mso-fareast-language:EN-US;} Company Headquarters: Leidschendam, Netherlands Founded: 1962 Workforce: ~10,265 Company Working: Fugro is one of the leading providers of geo-intelligence and asset integrity solutions for construction, natural resources, and infrastructure. It provides information and technical data required to design, construct, and maintain structures. The company operates through three business segments—marine, land, and geoscience. The marine segment includes marine site characterization and marine asset integrity. Fugro caters to industries such as oil & gas, power, building and infrastructure, and mining. The company has 40 laboratories, 16 research & development centers, and 32 consulting services with a presence in over 65 countries. William Lettis & Associates, Inc., Fugro GeoServices Limited, Fugro Survey BV, and Maps Geosystems are some of the subsidiaries of the company.
Subsea 7 S.A. formed after the merger of Acergy S.A. and Subsea 7 Inc. It is one of the leading companies in manufacturing offshore products and providing services to the energy industry. The company primarily offers offshore pipeline products under the business segment of SURF (subsea umbilical, risers and flowlines) and conventional, renewables and heavy lifting, life of field, and corporate. In the SURF and conventional segment, it offers EPCI works for high complex systems for the offshore application, which primarily include pipelay support vessels (PLSV). It also offers fabrication, installation, extension, and refurbishment services of fixed and floating platforms and associated pipelines for offshore applications. The company offers heavy lifting systems for the oil & gas industry, offshore wind farm foundations, inter-array cables, as well as it offers inspection, and repair and maintenance (IRM) services. The company has a presence in more than 33 countries with actively operating 93 projects, across the globe. In 2018, it spent nearly USD 19.4 million for the research and development activities, which had increased from USD 17.3 million invested in the year 2017.
Enbridge Inc. is Canada's largest natural gas distribution provider. It also operates the world's longest crude oil and liquids transportation system. Its vision is to be a leading energy delivery company in North America. It delivers the energy solutions that people need to provide heat to their homes to ensure interrupted supply of power and connected. In its first full year of pipeline operations, it has shipped 30.6 million barrels of oil. Presently, the company transports an average of 2.8 million barrels of oil every day. Through the years, it has continued to open new markets for Canadian crude and played a critical role in developing the North American energy infrastructure. Union Gas Limited (Canada), Maritimes and Northeast Pipeline (US), and Enbridge Gas New Brunswick (Canada) are some of the subsidiaries of the company.
McDermott designs and develops integrated solutions and products for the energy sector. The company primarily operates through offshore and subsea, downstream, liquefied natural gas (LNG), and power. In the offshore and subsea segment, it offers technology and EPCI services for the upstream oil & gas sector. It also offers topsides and floating production and storage and offloading (FPSO) vessels and pipelines. The company has a wide presence with more than 70 offices in nearly 54 countries, across the world. The client portfolio includes companies across oil and gas, petrochemical, and electric power sector. It primarily competes with offshore companies including China Offshore Oil Engineering Co. Ltd, Fluor Corporation, Hyundai Heavy Industrial Co. Ltd, Petrofac International Ltd, Saipem S.P.A., Samsung Heavy Industries Co. Ltd, TechnipFMC plc, Subsea 7 S.A., Techidas Reunidas, S.A, and Wood plc.
Petrofac Limited (Petrofac) is one of the well-recognized global service providers for the oil and gas production and processing industry. It operates through three segments, namely, engineering & construction (E&C), engineering & production services (EPS), and integrated energy services (IES). Under the engineering & construction segment, the company offers onshore and offshore services such as engineering, procurement, construction, installation, and commissioning works. Petrofac has a wide presence in the Middle East & Africa, Europe, the Americas, Asia-Pacific, and the CIS (Commonwealth of Independent States). It has offices in more than 24 countries and seven operational centers worldwide. Petrofac Emirates LLC, Petrofac Training Limited, Petrofac International (UAE) LLC, Eclipse Petroleum Technology Limited, Petrofac Netherlands Holding BV, and Petrofac International Ltd are some of the subsidiaries of the company.
Sapura Energy Berhad formed upon the merger of SapuraCrest and Kencana with the name SapuraKencana Petroleum Berhad. It was renamed to Sapura Energy Berhad in the year 2017. It is one of the leading companies in energy, offshore, and marine services in Asia-Pacific. The company primarily operates through engineering and construction, drilling, and exploration and production business segments. In the engineering and construction segment, it primarily offers installation of offshore platforms, marine pipelines, and subsea services as well as it offers EPCI works. It also offers repair and refurbishment for petrol stations and asset management services for offshore installations. Additionally, it engages in the development of charter for oil drilling rigs and other related drilling services. The company has presence in more than 20 countries, globally. It operates and manages its business in the global market through main 10 operating centers, worldwide. Also, it has wide portfolio consisting of fabrication yards, vessels, barge, and remotely operated vehicles.
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Historical performance and future projections (2020–2030, USD Billion)
Market Size (USD Mn)
