Offshore Pipeline Market Size & Share Analysis - Key Trends, Future Opportunities, Growth Strategies, and Forecasts (2025 - 2032)

Name: Offshore Pipeline Market Share & Trends Analysis, 2032
Creator: P&S Intelligence
License: https://www.psmarketresearch.com/privacy-policy

This Report Provides In-Depth Analysis of the Offshore Pipeline Market Report Prepared by P&S Intelligence, Segmented by Diameter (Below 24 Inches, Greater than 24 Inches), Product (Natural Gas, Crude Oil, Refined Products), Line Type (Transport Line, Export Line), Installation Technique (S LAY, J LAY, TOW IN), Depth of Operation (Shallow Water, Deepwater), and Geographical Outlook for the Period of 2019 to 2032

Report Code: 12514
Pages: 320

Key Highlights

Study Period	2019 - 2032
Market Size in 2024	USD 14.5 billion
Market Size in 2025	USD 15.0 billion
Market Size by 2032	USD 20.5 billion
Projected CAGR	4.3%
Largest Region	North America
Fastest Growing Region	Asia-Pacific
Market Structure	Fragmented

Market Size

Offshore Pipeline Market Growth Forecast

Major Companies

Offshore Pipeline Market Companies

Important Takeaways

Market Size and Forecast
Industry Trend
Regulatory Landscape
Demand Trend Analysis
Companies Recent Strategical Developments
Key Stakeholders
Voice of Industry Experts/KOLs
Future Opportunity

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Offshore Pipeline Market Analysis

The offshore pipeline market revenue was USD 14.5 billion in 2024, and it is expected to witness a CAGR, of 4.3% from 2025 to 2032, reaching USD 20.5 billion in 2032.

The rising demand for natural gas and crude oil, notably from the APAC region, as well as a growing emphasis on secure, reasonably priced, and safe connections for oil and gas resource supply, is expected to drive the market over the forecast period.

In February 2025, Malaysian state energy company Petroliam Nasional Berhad announced the launch of the Malaysia Bid Round 2025, offering exploration blocks in Peninsular Malaysia and Sabah. The offer, managed through Malaysia Petroleum Management (MPM), includes five exploration blocks located in the Malay and Penyu Basins offshore Peninsular Malaysia, as well as the Sandakan Basin.

The need for pipelines is also expected to expand due to an increase in shale gas resource discoveries and development in the North American region. Already, the continent has generated a significant demand for the installation of pipelines off its shores. Moreover, during the forecast period, the rising hydrocarbon imports via subsea (offshore) pipelines will have a significant positive impact on the offshore pipeline industry.

Essentially, the demand for refined goods has grown rapidly due to the population growth, urbanization, and booming automotive sector. The offshore pipeline technology has been identified by the key industry players as a strategic energy infrastructure investment for long-term economic success.

After extraction, hydrocarbons should be transported to their final-destination safely and affordably. The best option for doing so is these pipelines. Since there is a lower chance of spillage and subsea pipes are unaffected by tides, cyclones, and other geographical events, they are chosen over ships.

Moreover, companies are investing in the research and development for the offshore pipeline system which is further driving the market growth.

In May 2023, Saipem S.p.A. introduced Integrated Acoustic Unit (IAU), which is designed to monitor subsea pipelines during laying operations. This improves real-time monitoring capabilities, safety, and operational efficiency in offshore projects.

Offshore Pipeline Market Emerging Trends & Growth Drivers

Increasing Deepwater and Ultra-Deepwater Exploration Is Key Market Trend

As shallow deepwater reserves are depleting, countries around the globe are focusing on the deepwater and ultra-deepwater exploration.
The offshore pipeline sector is expected to receive major investments in North America.
In order to meet its rising need for petroleum products, the U.S. has begun to concentrate on shale oil and gas production.
Services for pipeline integrity are crucial to lowering transportation risks, ensuring structural integrity, and protecting people and assets.
In order to prevent geo-hazardous conditions along the pipeline and safeguard it from corrosion, which is further driving the market growth opportunities.
Additionally, countries around the world are investing in the exploration of the new deepwater resources with the rising energy consumption.
In March 2025, Shell plc invested in Gato do Mato deepwater project off the shore of Brazil, which will raise production to 120,000 barrels of oil per day by 2029; estimated recovery will be 370 million barrels.
In February 2024, Namibia’s Ministry of Mines and Energy collaborated with Wood Meckenzie to drill seven offshore wells in 2025.
New technologies, such as extended-reach drilling and horizontal drilling, are contributing to deepwater exploration.

High Demand for Refined Petroleum Products Drives Market

Many chemicals, medications, fertilizers, solvents, and polymers are made from petroleum.
As per the International Energy Agency (IEA), global crude demand could rise by 1 million barrels per day in 2025, reaching 103.9 million barrels per day.
To fulfill the rising demand for refined petrochemicals, such as gasoline and diesel, several corporations, including Exxon Mobil, BP, Rosneft, and Total, intend to increase their oil refining capacity.
The significant projects initiated in this regard include a 1.5-million-ton-per-year petrochemical plant by Sasol, 1.5-million-ton-per-year polyethylene facility by Shell, and a polyethylene and elastomer plant by Dow DuPont in the U.S.
As a result, the need for new pipelines to meet the demand for refined products, would increase.
Moreover, to increase productivity, these and many other E&P companies are exploring new fields both onshore and offshore.
With time, the world is relying more on offshore resources and expanding E&P operations in greater depths, to safeguard future supplies.
Hence, the spending on infrastructure, including pipelines, subsea template systems, smart well control systems, and subsea processing systems, will be driven by the continued growth of the industry.
Additionally, it will encourage the construction of new floating production storage and offloading (FPSO) platforms, tension leg platforms, and multipurpose support vessels.

Offshore Pipeline Market Segmentation Analysis

Diameter Analysis

The Greater than 24 inches category held the largest market share, of 65%, in 2024. This is due to its ability to transport bulk quantities of oil, gas, and other resources over long distances, especially in deep-water and ultra deep-water operations.

The below 24 inches category will grow at the higher market CAGR during the forecast period. This is due to rising need of more-compact and more-flexible pipelines for niche applications.

Offshore Pipeline Market Segmentation Analysis

Based on diameter, the market has the following categories:

Below 24 Inches (Faster-Growing Category)
Greater than 24 Inches (Larger Category)

Product Insights

Crude oil held the largest market share, of 70%, in 2024. This is due to the rising extraction of crude oil to refine into commercially viable products. As per reports, global crude oil extraction rose by 1% YoY in 2023, reaching a record high of 96.4 million barrels per day. For meeting this demand, companies in crude oil businesses are investing heavily in the development of the offshore pipelines.

Natural gas will grow at the higher CAGR, during the forecast period. As a result of the increasing demand for LNG and LPG, new gas fields are being discovered, and undersea pipes are being laid on war footing to transport the commodity easily and affordably.

Based on product, the market has the following categories:

Natural Gas (Fastest-Growing Category)
Crude Oil (Largest Category)
Refined Products

Line Type Analysis

Transport lines held the larger market share of 85%, in 2024, due to their use in the transportation of large volumes of oil, gas, and other materials over long distances.

The export lines category will grow at the higher CAGR during the forecast period. This is due to the increasing export of natural gas and LNG from offshore fields to various end users in international markets.

Based on line type, the market has the following categories:

Transport Line (Larger Category)
Export Line (Faster-Growing Category)

Installation Technique Insights

The S-LAY installation type is the largest category with 75% share in 2024. This type of offshore pipelines is used in moderate depth, typically up to about 2,000 meters. The dominance of this category is due to its higher cost-effectiveness and easier installation than other installation methods.

J LAY installation will grow at the highest CAGR during the forecast period due to increasing focus on deepwater exploration around the world. This technique is more suitable than others for complex deepwater environments.

Based on installation type, the market has the following categories:

S LAY (Largest Category)
J LAY (Fastest-Growing Category)
TOW IN

Depth of Operation Analysis

The shallow water category held the larger market share, of 80%, in 2024 due to the increasing shallow-water E&P activities around the world. Shallow-water operation entails lower pipeline installation costs due to its easier accessibility.

The deepwater category will grow at the higher CAGR during the forecast period, due to the growing demand to explore untapped deepwater reserves and advancement in pipeline installation technologies.

Based on depth of operation, the market has the following categories:

Shallow Water (Larger Category)
Deepwater (Faster-Growing Category)

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Offshore Pipeline Market Regional Growth Dynamics

North America is the largest regional market with 40% share in 2024 due to the presence of major oil and gas exploration sites in the U.S. The EIA says that production in the Gulf of Mexico will rise to 1.9 mbpd in 2025 from 1.8 mbpd in 2024. Additionally, North America is investing in the research and development of offshore exploration technologies. Moreover, Canada has 170.2 billion barrels, while the U.S. has 47.107 billion barrels of proven crude oil reserves. The U.S. also has the second-largest refining capacity in the world and is the second-largest importer and exporter of petroleum products.

Offshore Pipeline Market Geographical Analysis

APAC will be the fastest-growing regional market, during the forecast period. This rapid growth is due to the increasing demand for natural gas and oil in China, India and Australia. Additionally, the region is witnessing new offshore oil and gas exploration opportunities, which is creating a high demand for offshore pipelines. In November 2024, BP plc and its partners approved a USD 7-billion gas project in Indonesia that will later incorporate carbon capture technology in the production process. This development is part of the expansion of the Tangguh liquefied natural gas (LNG) project in Papua, which has been exporting LNG to Japan and China since 2009.

Based on geography, the market has the following categories:

North America (Largest Regional Market)
- U.S. (Larger Country Market)
- Canada (Faster-Growing Country Market)
Europe
- Germany
- U.K. (Largest Regional Market)
- France
- Italy
- Spain (Fastest-Growing Country Market)
- Rest of Europe
Asia-Pacific (Fastest-Growing Market)
- Japan
- China (Largest Country Market)
- India (Fastest Country Market)
- South Korea
- Australia
- Rest of APAC
Latin America
- Brazil (Largest Country Market)
- Mexico (Fastest Growing Country Market)
- Rest of LATAM
Middle East and Africa
- Saudi Arabia (Largest Country Market)
- South Africa (Fastest-Growing Country Market)
- U.A.E.
- Rest of MEA

Offshore Pipeline Market Share Analysis

The market nature for the offshore pipeline market is fragmented due to the large number of large multinational companies, regional players, and contractors, such as BP, Shell, and ExxonMobil. The companies in the offshore pipeline market are investing to develop more-advanced offshore pipeline systems. Moreover, major end users generally contract pipeline providers in their home country or those headquartered in the country the project is in. While some companies offer integrated solutions for pipeline installation, operations, and maintenance, others specialize in certain aspects.

Key Offshore Pipeline Companies:

Saipem SpA
McDermott International Ltd.
TechnipFMC plc
Petrofac Limited
Cortez Subsea Limited
Subsea 7 S.A.
John Wood Group PLC
Sapura Energy Berhad
Allseas Group S.A.
JGC Corporation
Bouygues Construction
Baker Hughes

Offshore Pipeline Market Developments

In February 2025, Italian energy-services provider Saipem S.p.A. and Subsea 7 agreed to merge into a new name, Saipem7, with an approximate value of USD 4.86 billion. The merger will be completed in the second half of 2026.
In November 2024, Technip Energies collaborated with SBM offshore with the total investment of euro 1 billion for the development of a floating production storage and offloading (FPSO) vessel for TotalEnergies offshore project Suriname.
In October 2024, Baker Hughes secured a multi-year agreements with Petrobras to supply 77 kilometers of flexible pipe systems for Brazil’s pre-salt field in the Santos Basin.