Offshore Pipeline Market Is Booming So Rapidly | McDermott, Fugro, Sapura
Published Via 11Press : One important component of the subsea transportation system utilized to transport and distribute carbon products from resource locations to end consumers is the offshore pipeline. In order to reduce any negative impacts, its design, building, and operation need to incorporate components of risk management from the perspectives of technical, business, environmental, and societal issues. But as the pipeline and capabilities to achieve more extreme operating conditions—such as internal pressure, temperature, and aggressive fluids—as well as envelopes like transient, cool down, and restart conditions have evolved over time, so have the complexity of risk management requirements.
Pipe coatings with added CP are used to safeguard offshore pipelines. Sacrificial anodes are commonly placed in the CP in the shape of circumferential bands separated 500 and 1000 feet apart. Many of the undersea pipes have concrete weight coatings applied to stop them from floating off the bottom. The majority of the early offshore pipe coatings were mastic or coat tar enamels that were applied between 14″ and 12″ (6-12 mm) thick. On the lay barge, field joints were installed using often manually applied variations of the same materials.
Thinner fusion-bonded epoxy powder coatings that were typically factory applied at a thickness of 250–500 m first appeared in the late 1970s. The solution for the field joints was developed at about the same time as heat-shrinkable plastic sleeves. Furthermore, as they are built for ever-deeper seas, offshore pipes are vulnerable to significant bending strains and high crushing forces.
Today pipes up to 28 inches in diameter are deployed in offshore waters 10,000 feet or deeper. The same components are employed for onshore pipelines. Additionally, the majority of pipeline wall thickness calculations employ a design factor of 0.72. When a pipeline is constructed in compliance with ASME B31.4/B31.8 Code, a pipe design factor of 0.5 is also employed.
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| Attributes | Details |
| Study Period | -2029 |
| Base Year | 2022 |
| Largest Market | Europe |
| Unit | Value (USD M) |
| Key Companies Profiled | Petrofac (UK), Subsea 7 (UK), McDermott (US), Atteris (AU), Fugro (Netherlands), Sapura (Malaysia), Wood Group (UK), Technip (UK), Penspen (UK), Saipem (Italy) |
| CAGR | 6.3% |
The report offers Major leading Key players:
- Saipem
- Subsea 7
- McDermott
- Sapura
- Wood Group
- Technip
- Fugro
- Atteris
- Penspen
- Petrofac
By Application:
- Refined Product
- Oil
- Gas
By Type:
- Duplex Pipelines
- Flexible Pipelines
- Cladded or lined with Stainless Steel
- Steel Chromium Pipelines
- The market size for offshore pipelines worldwide is estimated to reach USD 14021 million by 2029, growing at a 6.3% CAGR. It is now valued at USD 9742.6 million. Due to new methods used by companies in the offshore pipeline market, it is anticipated that the rivalry would get even more fierce in the upcoming years.The
- Offshore Pipeline research report delivers information on the competitive landscape and the product/service offerings of top firms to assist customers in increasing their revenue shares in the sector. In order to maximize the benefits of growth potential, this offshore pipeline market study also offers tactics that participants can use and identifies crucial areas they should concentrate on.
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Influencing Trend:
- Due to the rising need for refined products and offshore/ultra-deepwater finds, the global offshore pipeline market is anticipated to have strong demand over the projected period. Oil price instability that began in the middle of 2014 forced oil and gas operators worldwide to cut costs and begin decommissioning, which interfered with new investment in exploration and production projects.
- Several deepwater and ultra-deepwater projects have also become operationally viable since the oil price increase in 2017, which has led to increased investment in exploration and production operations, particularly in deepwater regions.
- Additionally, since 2014, the breakeven point for deepwater exploration and production has dropped, and it is predicted that this trend would continue throughout the projection period. For instance, Deepwater development is the subject of several initiatives in 2018.
- The market for offshore pipelines in the United States is anticipated to develop significantly as a result of increased activity in the Gulf of Mexico. The energy sector has been able to access additional oil and natural gas sources to fulfill rising global demand because of advancements in well drilling and completion technology.
- Despite the fact that pipelines are the quickest and most effective route to carry oil and gas, a series of onshore pipeline breaches in recent years have sparked legitimate environmental worries about its long-term susceptibility. Meanwhile, as offshore activities get deeper, the risks become considerably greater since the working environment is more harsh and it is much harder to manage a subsea leak.
Market Growth Drivers:
- Demand for crude oil and natural gas in the Asia-Pacific region is continuously rising, especially in China due to its rapid economic growth and in India due to a population component. Because of this, there is a tightening gap between global supply and demand for crude oil and natural gas, which is one of the causes contributing to the current spike in oil prices.
- The strain on compressing petroleum supply and demand is anticipated to relieve to some extent if deregulation eventually results in an enlarged global petroleum product trade since multiple laws governing the petroleum business are being reduced in various nations, including Japan.
- It is crucial to understand the most recent and accurate information about the petroleum supply and demand trends or supply availability of the world as well as the Asia-Pacific region through econometric approaches and to conduct a thorough analysis in order for a country like Japan, which is forced to rely on imports for almost all of its oil supplies, to establish a solid foundation and ensure steady supplies of oil.
- The most economical and efficient way to carry crude oil is through an offshore pipeline. Oil is transported most frequently by oil pipelines. Typically, pipelines are used to transport crude oil from the wellhead to collecting and processing facilities, and then from there to refineries and ship-loading facilities. Compared to trucks or trains, pipelines run with much less energy and produce less carbon dioxide.
- The safety of this mode is improved by new technology, and pipes include sensors to keep an eye on key parameters like temperature and pressure. As a result, it is possible to conclude that the increasing demand for offshore pipelines is a result of more affordable and efficient transportation options.
Challenges:
- Pipelines in the surf zone and near-shore waters are more susceptible to the pressures of waves during storm events; as a result, a high level of protection is offered in such areas, mostly by burying and rock dumping. Again, routine inspection would identify any exposure of the pipeline and indicate the need for corrective action.
- Many components of offshore activities are weather-dependent, thus they can only be carried out during specific weather periods. The installation of structures clearly falls under this, but many other inspection and maintenance tasks also fall under this.
- The examination of data for these windows differs slightly from the analyses mentioned above in that it focuses exclusively on the expected length of circumstances below the threshold judged safe for the operation.
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- Market CAGR from 2022 to 2029
- Detailed information on the major factors propelling the offshore pipeline business during the next few years.
- Detailed Insights on Future Trends and Shifting Consumer Behaviour in Offshore Pipeline
- A projection of the size of the worldwide offshore pipeline market and its proportion of the parent market by type, application, and country.
- Learn about the competitive environment in the market and comprehensive information on the main rivals. Detailed information about the problems that can prevent the growth of offshore pipeline players
- A turning point in globalization, business transformation, significant changes in the technology and cost structure of the offshore pipeline industry, challenges with regulatory compliance, a significant slowdown in developed economies, and the emergence of new forms of competition are just a few of the major factors that have influenced this development.
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