Asia Pacific Offshore Pipeline Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Diameter, Line Type, and Product

Transport Line Segment to Dominate APAC Offshore Pipeline Market during 2019-2027

According to a new market research study on “APAC Offshore Pipeline Market to 2027 - COVID-19 Impact and Regional Analysis and Forecast by Diameter, Line Type, and Product” is expected to reach US$ 2,761.26 million by 2027 from US$ 2,188.82 million in 2019. The market is estimated to grow at a CAGR of 3.2 % from 2020 to 2027. The report provides trends prevailing in the APAC offshore pipeline market along with the drivers and restraints pertaining to the market growth. Upgradation in flexible pipe technology and new oil & gas reserves detection are the major factor driving the growth of the APAC offshore pipeline market. However, difficulties related to cross- border pipeline transportation hinder the growth of APAC offshore pipeline market.

Further, in case of COVID-19, APAC is highly affected specially the China and India. The APAC region constitutes the world’s two most populated countries as well as prominent oil producing countries across the APAC region. China virtually imposed strict lockdown and social isolation, which stopped manufacturing activities which resulted in shrinking its country’s demand for oil and other energy commodities. Thus, the oil & gas construction activities across the Chinese region plummeted significantly which has negatively affected the APAC offshore pipeline market. Similarly, India also imposed a nationwide lockdown to control the growing number of COVID-19 cases. Subsequently, the lockdown and disruption of various manufacturing activities contributed significantly in reduced activities in oil & gas sector. Thus, the overall decline of activities in oil & gas industries collectively reduced the demand for offshore pipelines across the APAC countries during the early months of the 2020 due to the outbreak of virus in respective countries.

The APAC 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 less than 24 inches’ segment held the largest share of the market in 2019 and more than 24 inches 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 APAC, propelling the APAC 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 APAC 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 2019, John Wood Group PLC have delivered front-end engineering design (FEED) for the world’s first offshore platform based natural gas liquefaction and storage facility for Honghua Offshore and EnTX GasTek Global Ltd.

The report segments the APAC 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

• China
• Japan
• India
• Australia
• South Korea
• Rest of APAC

Reasons to Buy

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the APAC offshore pipeline market.
• Highlights key business priorities in order to assist companies to realign their business strategies
• The key findings and recommendations highlight crucial progressive industry trends in the APAC offshore pipeline market, thereby allowing players across the value chain to develop effective long-term strategies
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
• Scrutinize in-depth APAC market trends and outlook coupled with the factors driving the offshore pipeline market, as well as those hindering it
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution