Market Leader - Offshore Pipeline Market
The offshore pipeline market is expected to grow from an estimated USD 14.8 billion in 2022 to USD 18.6 billion by 2027, at a CAGR of 4.7% during the forecast period. The rising demand for crude oil and natural gas along with the increasing demand for safe, cost-effective, and reliable connectivity is expected to be the primary drivers of the market.
A few major players that have a wide regional presence dominate the offshore pipeline market. The leading players in the offshore pipeline market include Saipem (Italy), SUBSEA7 (UK), McDermott (US), John Wood Group PLC (UK), TechnipFMC plc (UK), and Sapura Energy Berhad (Malaysia).
The major strategies adopted by these players include product launches and new product developments, contracts & agreements, investments & expansions, mergers & acquisitions, joint ventures, and partnerships & collaborations. Contracts & agreements and investments & expansions were the two most adopted strategies from 2018 to 2022.
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Saipem is one of the leading players in the engineering, procurement, construction, and installation of pipelines and complex projects in the oil & gas sector. The company’s main businesses are engineering, procurement, construction as well as the installation of pipelines, both onshore and offshore. The key operating segments of the company are Offshore Engineering & Construction, Offshore Drilling, and Onshore Engineering & Construction and Onshore Drilling. The Offshore Engineering & Construction segment provides Subsea, Umbilicals, Risers, and Flowlines (SURF), Offshore New Energies, and Offshore Facilities and Pipelines. The primary activity of this segment includes the laying of export pipelines and truck lines, the development of subsea and conventional fields, as well as acting as EPCI and T/I contractors for wind farms. Saipem has undertaken the majority of the projects from 2021 to 2022 in the Middle East and Africa. Saipem operates globally, especially in Europe, the Americas, CIS, Africa, the Middle East, and the Far East, and Oceania.
Subsea7 is a key player in the delivery of offshore energy projects and services. The company provides seabed-to-surface engineering, construction, and contract services to the offshore energy industry. The key operating segments of the company include Subsea and Conventional, Renewables, and Corporate. The services related to Subsea Umbilicals, Risers, and Flowlines (SURF) activities, which include the engineering, procurement, installation, and commissioning of highly complex subsea oil and gas systems in deep waters are offered through the Subsea and Conventional segment. This segment also provides other services, which are related to offshore structures such as inspection, repair and maintenance (IRM) services, integrity management of subsea infrastructure, and remote intervention support. The company is winning several contracts for offshore pipelines and services related to them, which can be their key strategy. Subsea7 has a strong foothold in the UK and has a major presence in the US, Norway, Brazil, Saudi Arabia, Australia, and other countries.
Related Reports:
Offshore Pipeline Market by Diameter (Greater Than 24 Inches), Product (Oil, Gas, Refined Products), Line Type (Transport Lines, Export Lines), Installation Type (S LAY, J LAY, TOW IN), Depth of Operation and Region - Forecast to 2027
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