OFFSHORE PIPELINE MARKET ANALYSIS
Offshore pipelines are increasingly used in oil and gas industry for transportation of crude and refined petroleum products from source to destination, which are physically separated at a distance. Increasing cross-border transportation of oil and gas products is expected to drive growth of the offshore pipeline market during the forecast period
Market Dynamics:-
Rising demand for natural gas and crude oil, especially in emerging economies such as India along with increasing demand for cheaper, safe, and reliable connectivity through pipelines is expected to drive growth of the global offshore pipeline market. Moreover, increasing demand for cost-effective transportation of oil and gas is another major factor that is expected to boost growth of the offshore pipeline market during the forecast period.
Furthermore, shifting preference towards the use of renewable sources of energy is expected to result in decreasing demand for oil and gas, thereby affecting growth of the market. Also, high investment cost and long duration of projects is likely to hinder growth of the offshore pipeline market during the forecast period.
Market Outlook:-
The increased growth in refined product type segment is expected in regions such as North America and Asia Pacific due to rapidly increasing import and export in the region Moreover, significant increase in demand for offshore pipeline in oil and gas industry is expected to drive growth of the global offshore pipeline market during the forecast period. The demand for oil and gas is constantly increasing in emerging economies such as India and ASEAN countries, which is expected to increase the demand of offshore pipeline during the forecast period. Europe is expected to be the most dominant offshore pipeline market owing to its heavy reliance over import to fulfil its energy demand. Middle East being the major supplier of crude oil throughout the globe is expected to possess high growth of offshore pipeline market during the forecast period.
Key Players:-
Major players operating in the global offshore pipeline market include McDermott, Saipem, Sapura Malaysia, Subsea 7, Technip UK, Wood Group, Atteris, Fugro, Petrofac, Senaat, and Penspen.
Market Taxonomy:-
On the basis of product type, the global offshore pipeline market is segmented into:
On the basis of pipeline type, the global offshore pipeline market is segmented into:
On the basis of material type, the global offshore pipeline market is segmented into:
On the basis of diameter, the global offshore pipeline market is segmented into:
On the basis of region, the global offshore pipeline market is segmented into:
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