Offshore Pipeline Market

Saipem (Italy) and Subsea 7 (UK) are the Major Players in the Offshore Pipeline Market

The offshore pipeline market is projected to reach USD 15.8 billion by 2023 at a CAGR of 6.54% from an estimated USD 11.5 billion in 2018. In 2018, the offshore pipeline markets in Europe were estimated to be the largest, followed by the Americas. The factors such as increasing demand for crude oil and natural gas are driving the offshore pipeline market.

The offshore pipeline market is dominated by few major players that have a global presence. The leading players in the offshore pipeline market include Saipem (Italy), Technip (UK), Wood Group (UK), Subsea 7(UK), and McDermott (US).

The major strategies adopted by the players include new product developments, contracts & agreements, investments & expansions, and mergers & acquisitions. Contracts & agreements was the most commonly adopted strategy from January 2015 to December 2018. The industry players also adopted new product launches, which was the second most widely followed strategy during the same period.

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Saipem is one of the major players in the engineering, procurement, construction, and installation of pipelines and complex projects in the oil and gas sector. The company’s main businesses are engineering, procurement, construction as well as the installation of pipelines, both onshore and offshore. It operates its businesses under 5 divisions, namely, onshore engineering & construction, offshore engineering & construction, onshore drilling, offshore drilling, and XSIGHT. Offshore pipelines are offered under the company’s offshore engineering & construction division. Moreover, platforms, subsea field developments, and MMO activities are also operated under this division. In 2019, Saipem was awarded 2 EPCI (engineering, procurement, construction, and installation) contracts from Saudi Aramco for offshore field development activities such as laying of pipelines and subsea cables.

Subsea 7 provides seabed-to-surface engineering, construction, and contract services to the offshore energy industry. It has 3 business divisions namely; SURF & conventional, i-tech services, and renewables and heavy lifting. It is one of the main players in providing seabed-to-surface engineering, construction, and contract services in the oil & gas sector. The I-Tech division of the company provides a subsea intervention technology that offers remotely operated vehicles and tooling services to support exploration and production activities.

Related Reports:

Offshore Pipeline Market by Product (Oil, Gas, Refined Product), Line Type (Export Line, Transport Line), Diameter (Below 24, Greater Than 24), and Region (Americas, Europe, Asia Pacific, Middle East, & Africa) - Global Forecast to 2023

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Report Code
EP 6899
RI Published ON
2/5/2019
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