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Offshore Pipeline Market worth $18.6 Billion by 2027

Offshore Pipeline Market worth $18.6 Billion by 2027

The global 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% according to a new report by MarketsandMarkets™. The offshore pipeline market has promising growth potential due to the rising deployment of oil and gas distribution networks and the rising use of natural gas.


Transport line segment expected to dominate offshore pipeline market


The transport line segment holds the largest share of the offshore pipeline market. The large market share can be attributed to the increasing number of contracts and projects from companies including Saipem (Italy), Subsea7 (UK), and TechnipFMC (UK).


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Gas to witness fastest growth rate in offshore pipeline market


The offshore pipeline market, by product, is divided into oil, gas, and refined products wherein gas accounts for the largest share. Gas is also expected to witness the fastest growth rate during the forecast period, owing to increasing awareness and demand for energy self-sufficiency.


Europe to be fastest-growing offshore pipeline market


In this report, the offshore pipeline market has been analyzed for five regions, namely, Europe, the Middle East, Africa, Asia Pacific, and the Americas. Europe is a significant contributor to the offshore pipeline market in the current scenario owing to the rapidly increasing cost-competitiveness of transport line solutions, which enable consumers to have access to clean energy power and offer opportunities to decrease their bills.


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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of a few of the top players in the Offshore Pipeline Market.


A few of the key players include Saipem (Italy), Subsea7 (UK), TechnipFMC (UK), McDermott (US), John Wood Group PLC (US), and others. The leading players are adopting various strategies to increase their share in the offshore pipeline market.


About MarketsandMarkets™


MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.


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Content Source: https://www.marketsandmarkets.com/PressReleases/offshore-pipeline.asp

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