Middle East and Africa Offshore Pipeline Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Diameter, Line Type, and Product

More than 24 inches Segment to Dominate MEA Offshore Pipeline Market during 2019-2027

According to a new market research study on “MEA Offshore Pipeline Market to 2027 - COVID-19 Impact and Regional Analysis and Forecast by Diameter, Line Type, and Product” is expected to reach US$ 1,680.77 million by 2027 from US$ 1,399.63 million in 2019. The market is estimated to grow at a CAGR of 2.5 % from 2020 to 2027. The report provides trends prevailing in the MEA offshore pipeline market along with the drivers and restraints pertaining to the market growth. Finding new oil and gas reserves and improvements in flexible pipe technology are the major factor driving the growth of the MEA offshore pipeline market. However, cross-border pipeline transportation difficulties hinder the growth of MEA offshore pipeline market.

Further, in case of COVID-19, MEA is highly affected specially the Saudi Arabia and Iran. The MEA region especially the GCC countries witnessed a notable decline in their oil & gas sector owing to sharp decline in demand of oil from major end-user countries across Asia, Europe and North American regions as a result, the countries registered a lowered volume of oil production as well as construction of oil & gas related projects and subsequently the demand for offshore pipelines. Countries such as Saudi Arabia, UAE, Qatar and selected other members of OPEC countries also observed similar trends during the early months of the pandemic outbreak. The coronavirus outbreak's impact is anticipated to be quite severe in the year 2020 and likely in 2021. Hence, the ongoing COVID-19 crisis and critical situation in the countries like the Saudi Arabia and Iran will impact the offshore pipeline market growth of the MEA region negatively for the next few quarters.

The MEA offshore pipeline market is segmented based on diameter, line type, product, and country. Based on diameter, market is segmented into the more than 24 inches and less than 24 inches. The more than 24 inches’ segment held the largest share of the market in 2019 and is expected to be fastest growing during forecast period. Based on line type, the market is segmented into the export line, transport line, and others. The transport line segment is expected to hold the dominant market share and export line is expected to be fastest growing during forecast period. The rising demand for refined products has resulted in increased deployment of transport lines across the MEA, propelling the MEA offshore pipeline market's growth. Moreover, the transport line is usually longer in length and covers a wide range of areas, such as cross-border pipelines. Based on the product, the market is segmented into oil, gas, and refined products. The refined products segment held the largest market share in 2019 and gas segment is expected to witness higher CAGR growth during the forecast period.

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 are among the leading companies in the MEA offshore pipeline market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Saipem had been awarded several EPCI contracts in various countries around the world by Saudi Aramco, Eni Angola S.p.A., and many more worth over 500 million USD for offshore pipeline services.

The report segments the MEA Offshore Pipeline Market as follows:

By Diameter

• More than 24 inches
• Less than 24 inches

By Line Type

• Export Line
• Transport Line
• Others

By Product

• Oil
• Gas
• Refined Products 

By Country

• Saudi Arabia
• UAE
• South Africa
• Rest of MEA

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