North America Offshore Pipeline Market Outlook and Strategic Insights by 2027

The North America offshore pipeline market is expected to grow from US$ 2,925.21 million in 2019 to US$ 3,391.55 million by 2027; it is estimated to grow at a CAGR of 2.1% from 2020 to 2027.

The US, Canada, and Mexico are major economies in North America. Growing demand for natural gas and crude oil across North America is expected to upsurge the North America offshore pipeline market. The demand for natural gas and crude oil is witnessing a constant increase across the North America. The robust increase in petrochemical demand in the US resulted in increased consumption. Surge in industrial production along with high demand for trucking services are boosting the need for petrochemicals, thereby fueling the growth of the North America offshore pipeline market. Moreover, the growth in air traffic volumes across North America, particularly in US, is another significant factor resulting in increased oil consumption. The outbreak of the COVID-19 pandemic has led to a downturn in oil demand; however, it is expected that North America energy demand would witness constant growth in the mid-term and long-term period. Rise in demand for oil & gas is attributed to increasing industrialization and urbanization. Several oil & gas companies across North America are focused on increasing their offshore exploration & production (E&P) activities to fulfil the constantly increasing energy demand. One of the significant oil & gas pipeline project across North America expected in 2020 is Alaska LNG Liquefaction Plant (US). Rising demand for oil & gas due to rise in passengers as well as vehicles resulted in increased exploration & production activities, which, in turn, is supporting the growth of the North America offshore pipeline market. 

Furthermore, in case of COVID-19, The North America especially the US region witnessed an unprecedented rise in number of COVID cases, which disrupted its construction activities in the oil & gas sector and subsequently impacted the demand for offshore pipeline during the early months of 2020. Moreover, the considerable decline in overall global oil prices further restricted the oil & gas related projects and other activities that negatively influenced the demand for offshore pipelines. Similar trend was also witnessed in other North American countries i.e., Canada and Mexico. However, the countries are expected to overcome the swift drop in demand as the countries continue to open their economic activities especially in the recent months for revival of business activities which will escalate the North America offshore pipeline market.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America offshore pipeline market. The North America offshore pipeline market is expected to grow at a good CAGR during the forecast period.

North America Offshore Pipeline Market Segmentation

North America Offshore Pipeline Market – By Diameter

• More than 24 inches
• Less than 24 inches 

North America Offshore Pipeline Market – By Line Type

• Export Line
• Transport Line
• Others

North America Offshore Pipeline Market – By Product

• Oil
• Gas
• Refined Products 

North America Offshore Pipeline Market, by Country

• US
• Canada
• Mexico

North America Offshore Pipeline Market - Companies Mentioned

• Bechtel Corporation
• Fugro
• John Wood Group PLC
• Larsen & Toubro Limited
• McDermott International, Inc.
• Petrofac Limited
• Saipem S.p.A
• Sapura Energy Berhad
• Subsea 7 S.A.
• TechnipFMC plc

North America Offshore Pipeline Report Scope