Offshore Pipeline Infrastructure Market Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI3497
Escalating demand for energy led by increasing global population will drive the offshore pipeline infrastructure market growth. Rapid commercialization and industrialization across emerging nations will complement the business outlook. Respective governments have set plans to improve the gas accessibility across the consumer end. In addition, need to improve the degrading infrastructure will positively enhance the industry outlook.
Declining production from onshore hydrocarbon reserves resulting in growing focus toward extraction of subsea and offshore resources will propel the offshore pipeline infrastructure market. In addition, rapid technological advancements along with adoption of innovative digital technologies have made possible the economic recovery of deep and ultra deep fields. Furthermore, extensive asset management and reservoir optimization techniques have enabled the operators in handling the critical deep-water reservoirs.
Recovering oil prices along with active investments toward exploration and production activities will propel the offshore pipeline infrastructure market growth. Rapid discoveries of O&G reserves along with need for reliable infrastructure to bring the resources from new platforms will augment the industry landscape. In 2019, Repsol and Exxon Mobil came into joint venture for developing the subsea reserves across the Caribbean Sea.
The offshore pipeline infrastructure market is anticipated to grow on account of booming production from unconventional hydrocarbon resources include shale gas and tight oil. The pipelines offer added advantages over other alternatives including low operating cost, efficient and safe transportation. Furthermore, growing requirement of additional pipeline network along with replumbing of existing network will complement the industry landscape.
Ongoing development on international projects in order to facilitate the import and export of hydrocarbons will foster the offshore pipeline infrastructure market. Rapid globalization coupled with improving trade relationships amongst the industry players will augment the industry landscape. Majority of the European nations are developing new pipelines in order to minimize their import dependency and ensure energy security.
North America offshore pipeline infrastructure market is set to grow on account of robust domestic production from unconventional resources. Shifting focus toward clean energy along with substantial upscale in the number of gas connected users have impacted the demand for gas across the region. New discoveries across the Permian Basin along with government plans for development of additional network across the U.S. and Canada will augment the business landscape.
Ongoing expansion of industries along with growing demand across major businesses including, petrochemical, power and manufacturing will propel the Asia Pacific offshore pipeline infrastructure market. Increasing energy consumption primarily across China and India will positively enhance the business outlook. The region will add maximum number of pipelines by 2022 along with increasing investments to enhance the infrastructure will augment the industry landscape. As per the Hydrocarbon 2020 Vision, the government of India has planned to develop the pipeline network and has allowed the involvement of foreign players under the HELP policy.
Eminent players operating across the offshore pipeline infrastructure industry include Europipe, Enbridge, GAIL, Gazprom, APA Group, CRC Evans Pipeline, Snam Rete, Redexis, General Electric, Technip, Saipem, DCP Midstream, MRC Global, Chelpipe, Engas, Welspun andNational Oilwell Varco.
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