The offshore pipeline market is expected to grow from USD 14.8 billion in 2022 to USD 18.6 billion by 2027, at a CAGR of 4.7%

The offshore pipeline market is expected to grow from USD 14.8 billion in 2022 to USD 18.6 billion by 2027, at a CAGR of 4.7%

NEW YORK, November 28, 2022 /PRNewswire/ —

The offshore pipeline market is estimated to grow from $14.8 billion in 2022 at $18.6 billion by 2027, at a CAGR of 4.7% over the forecast period. Major market drivers include growing demand for crude oil and refined products from refineries and the petroleum industry.

Read the full report: https://www.reportlinker.com/p05741673/?utm_source=PRN

The segment over 24 inches in diameter will be the largest and fastest growing market from 2022 to 2027
The offshore pipeline market, by diameter, is divided into over 24 inches and under 24 inches. The above 24 inch segment is expected to dominate in terms of market share and CAGR over the forecast period and this dominance can be attributed to the growing number of oil and gas projects.

The gas products segment will be the fastest growing market from 2022 to 2027
The offshore pipeline market, by product, is segmented into oil, gas and refined products. The oil segment is expected to be the second largest segment.

This can be attributed to the growing demand for crude oil from the petrochemical industry.

Transmission line, by line type, expected to be the largest and fastest growing market from 2022 to 2027
The offshore pipelines market, by line type, is divided into transmission lines, export lines and other lines. Other lines include collection lines and outflow lines.

The transmission line is expected to be the fastest growing market followed by the export line over the forecast period. This dominance is explained by the fact that transmission lines support high pressures and transport over long distances.

Distribution of primaries:
In-depth interviews were conducted with various key industry players, subject matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify information critical qualitative and quantitative, as well as to assess the future prospects of the market. The breakdown of primary interviews is as follows:
• By business type: Tier 1 – 65%, Tier 2 – 24% and Tier 3 – 11%
• By designation: C level – 30%, Director level – 25% and others – 45%
• By region: Americas — 35%, Europe– 26%, Asia Pacific – 25%, Middle East – 8%, and Africa – 6%

Note: Other designations include sales managers, marketing managers, product managers, and product engineers.

The level of companies is defined according to their total turnover in 2017. Level 1: $1 billion and above, level 2: from $500 million at $1 billionand level 3:

The offshore pipelines market is dominated by a few major players that have a broad regional presence. Key players in the offshore pipeline market are Saipem (Italy), Subsea7 (UK), TechnipFMC (UK), McDermott (US), John Wood Group PLC (US) and others.

Study coverage:
The report defines, describes and forecasts the offshore pipelines market, by diameter, line type, product, installation technique, operating depth and region. It also offers detailed qualitative and quantitative analysis of the market.

The report provides a comprehensive review of key market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market including competitive landscape analysis, market dynamics, market estimations in terms of value and future trends of the Offshore Pipelines market.

Key Benefits of Purchasing the Report
1. The report identifies and addresses key markets for offshore pipeline operations and services, which would help equipment manufacturers and service providers to gauge the growth in demand.
2. The report helps system vendors understand the pulse of the market and provides insights into drivers, restraints, opportunities, and challenges.
3. The report will help key players to better understand their competitors’ strategies and help them to make better strategic decisions.

Read the full report: https://www.reportlinker.com/p05741673/?utm_source=PRN

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