Loading...
| A07362 | Pages: NA | Dec 2021 | 600 Views | | |
| Author(s) : NA | Tables: NA | Charts: NA |
| |
Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Offshore Oil & Gas Pipelines Market
Request Now !Offshore pipelines are used in the oil & gas industry to transfer oil through the pipes. It is one of the fastest, most cost-efficient, and most reliable modes of offshore oil & gas transportation. Offshore pipeline is commonly used for the transportation of natural gas. Offshore pipeline is considered as the most economical mode of transportation of oil & gas. The price recovery of oil & gas is positive for the industry along with lower costs for equipment, engineering, and other services that have increased the demand for the product over the forecast period. Offshore pipelines require less energy to function compared to oil tankers and gas carriers. The advantages of offshore pipelines include improved efficiency and oil capacity along with low carbon footprint. Moreover, offshore activity continues to be more attractive than onshore while costs continue to decrease in the offshore oil & gas supply chain, thereby creating lucrative opportunities for the global offshore pipeline market over the forecast period. Therefore, the benefits of oil & gas pipelines and the significant rise in demand for energy from industries and emerging countries contribute to the growth of the market.
Market scope and structure analysis:
Report Metric | Details |
Market size available for years | 2019–2027 |
Base year considered | 2019 |
Forecast period | 2020–2027 |
Forecast unit | Value (USD) |
Segments covered | Product, Type |
Regions covered | North America (the U.S. and Canada), Europe (Germany, the UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM), and the Middle East and Africa |
Companies covered | Saipem, Subsea 7 S.A., TechnipFMC Plc, Sapura Energy Berhad, Fugro, Petrofac Limited, John Wood Group PLC, McDermott, Enbridge Inc., and Cortez Subsea |
By Product
By Type
The coronavirus pandemic has shut down many industries due to various financial crisis and low demand in the market. The oil & gas pipeline industry are also facing many problems. The spread of virus has reduced the demand for fuel across the world. Similarly, the global lockdown has halted the transportation industry governments banned travel privileges. This has a direct impact on the reduced demand for oil, which, in turn, reduces the offshore oil & gas pipeline industry.
The global offshore pipeline for oil & gas is expected to witness significant growth during the forecast period. This growth can be attributed to the increase in demand for crude oil and natural gas and rise in demand for safe, economical, & reliable connectivity. Moreover, with developing economies undergoing rapid urbanization and industrialization, the energy requirement and consumption of liquid fuels have increased rapidly. As the production and consumption sites are situated away from each other, the fuels must be transported safely and cost-effectively to the desired destinations. Therefore, the extracted crude oil and natural gas are transported through pipelines for an uninterrupted service, thereby boosting the market growth for offshore pipelines over the forecast years. Additionally, upcoming offshore oil & gas pipeline market trends, such as technological advancements in offshore oil & gas pipelines and increase in demand for cost-effective transportation method for oil & gas, are significant factors, which are expected to propel the demand for offshore pipeline in the oil & gas industry over the forecast years. However, shift toward renewable source of energy decreases the demand for oil & gas along with high initial investment & long duration of projects. Therefore, this factor is expected to hamper the growth of the offshore oil & gas pipeline market during the forecast period.
The global offshore oil & gas pipeline market is segmented into North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa. The market in Europe is estimated to be the largest market for global offshore oil & gas pipeline. High energy consuming countries, such as the UK, France, and Germany, are the main contributors to the market growth in the region. The North Sea is also one of the major oil & gas producing areas in Europe. The rise in production of oil & gas, economic benefits of offshore pipelines, and increase in demand for energy are the major factors that boost the growth of the market in Europe.
Key benefits of the report:
Clients can easily download both quantitative as well as
qualitative reports in PDF and excel formats.
Start reading.
This Report and over 13,000+ thousand more Reports, Available with Avenue Library. T&C*.
10%
Discount
10%
Discount
10%
Discount
10%
Discount
Enterprise
License/PDF
10%
Discount
Buy Now *Taxes/Fees, if applicable will be added during checkout. All prices in USD
To ensure high-level data integrity, accurate analysis, and impeccable forecasts
For complete satisfaction
On-demand customization of scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save time of readers
Get insights on topics that are crucial for your business. Stay abreast of your interest areas.
To ensure high-level data integrity, accurate analysis, and impeccable forecasts
For complete satisfaction
On-demand customization of scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save time of readers
