Underwater Pipelines Market Size Hit New profit-making To 2033

According to the Market Statsville Group (MSG), the Global Underwater Pipelines Market size is expected to reach USD 23,815.7 million by 2033, by exhibiting a CAGR of 3.7% during the forecast period (2024 – 2033).

The underwater pipeline market is growing at an incredible rate due to the increasing demand from the energy sector and the transportation problems of oil, gas, and other resources from fields lying under the sea. Improved technological innovation has made laying and subsequent maintenance of submarine pipelines much easier, safer, more efficient, and cost-effective, further fueling the expansion of the market. These, in turn, depend on pipelines for secure and reliable transport to critical sectors of the economy, such as oil and gas, water and wastewater management, and telecommunications. Again, growing interest in the development of offshore renewable energy projects, primarily wind and tidal energy, is allowing acceleration in market growth. Geographically, North America, Europe, and the Asia-Pacific are in the lead in terms of investments and infrastructural development. It is no wonder then that innovation and strategic collaborations become almost a necessity should industry players desire to chalk out growth routes amidst growing concerns over the environment and strict regulatory frameworks that threaten to additionally increase the hefty installation cost.

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Definition of the Underwater Pipelines

Underwater, also known as submarine or offshore pipelines, convey oil, gas, water, and many other products from their sources at sea to the land. They are crucial in bridging the vast distances between the shallow sea and the land, attaching the far-flung energies from the sea to the onshore facilities safely and effectively.

Scope of the Global Underwater Pipelines Market

The study categorizes the Underwater Pipelines market based on product type, material type, and line type area at the regional and global levels.

By Product Type Outlook (Sales, USD Million, 2019-2033)

Oil and Gas Pipelines

Water and Wastewater Pipelines

Chemical Pipelines

By Material Type Outlook (Sales, USD Million, 2019-2033)

Steel Pipelines

Concrete

Polyethylene

Composite

By End-Use Industry Outlook (Sales, USD Million, 2019-2033)

Oil & Gas

Energy

Municipal Water Services

Chemical Industry

Others

By Region Outlook (Sales, USD Million, 2019-2033)

North America

US

Canada

Mexico

Europe

Germany

Italy

France

UK

Spain

Poland

Russia

The Netherlands

Norway

Czech Republic

Rest of Europe

Asia Pacific

China

Japan

India

South Korea

Indonesia

Malaysia

Thailand

Singapore

Australia & New Zealand

Rest of Asia Pacific

South America

Brazil

Argentina

Colombia

Rest of South America

The Middle East & Africa

Saudi Arabia

UAE

South Africa

Northern Africa

Rest of MEA

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Natural gas segment accounts for the largest market share by product type

Based on the product type, the market is divided into natural gas, refined products, and crude oil. The natural gas segment accounted for the largest global Underwater Pipelines market share. This will be chiefly driven by the growing global demand for cleaner sources of energy and by the increasing share of natural gas in the mix. There are abundant offshore reserves of natural gas, particularly in the Gulf of Mexico, North Sea, and Persian Gulf, where underwater pipelines efficiently bring the gas with underwater pipelines from deep-sea wells into onshore processing facilities and distribution pipelines. Besides, technological innovation in the area of liquefied natural gas adds strength to the transportation of natural gas through underwater pipelines over long distances. The extraction and transport of natural gas are associated with reliability, efficiency, and environmental benefits that make it dominant in the underwater pipeline market worldwide.

North America accounted for the largest market share by Region

Based on the regions, the global market of Underwater Pipelines has been segmented across North America, Europe, the Middle East & Africa, South America, and Asia-Pacific. North America dominates the market for underwater pipelines because of its massive offshore oil and gas operations in the Gulf of Mexico. In this region, there has been much offshore exploration and production over the years, which has been supported by advanced technology and infrastructure for underwater pipeline systems. The hydrocarbon reserves of the Gulf of Mexico are a significant share of the offshore global output, necessitating the construction of huge webs of pipelines to move crude oil and natural gas from deep-sea drilling platforms to onshore refineries and distribution centers.

The North American regulatory environment and this industry's experience further serve to ensure that the projects are delivered at a faster-than-average pace in hostile environs that include hurricanes and environmentalist opposition while adhering to stringent environmental criteria. This robust industry ecosystem, along with likely incessant investments in pipeline infrastructure and technology, will continue to cement North America's leadership position in the underwater pipelines market.

Competitive Landscape: Global Underwater Pipelines Market

The global market for underwater pipelines includes an intensely competitive landscape with key players who have certain expertise in laying, maintaining, and developing pipeline technologies. Companies around the world have to base their competition on technological innovation, project execution capabilities, and strict adherence to both safety and environmental standards. The market leaders, through strategic collaboration with energy firms and governments, manage to win contracts related to offshore oil and gas exploration, renewable energy projects, and water management solutions.

Major players in the global Underwater Pipelines market are:

LARSEN & TOUBRO LIMITED

SAIPEM SpA

Allseas

ArcelorMittal SA

China Petroleum Pipeline Engineering Co., Ltd.

Atteris Pty. Ltd.

McDermott International Ltd.

SUBSEA7

JFE Holdings Inc.

John Wood Group PLC

National Petroleum Construction Co.

Nippon Steel Corp

Salzgitter AG

Petrofac Limited

Penspen

TechnipFMC plc

Furgo

TechnipFMC plc

Tenaris SA

Sapura Energy Berhad

Other Major Players

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Recent Developments

In January 2022, The major Engineering, Procurement, Construction, and Installations (EPCI) contract for the offshore scope of works related to the QatarEnergy North Field Expansion Project was awarded to McDermott Middle East, Incorporated. After the expansion project, liquefied natural gas production capacity will increase from 77 million tonnes per annum to 126 million tonnes per annum of the State of Qatar.

In April 2022, Worley announced that it had been awarded a contract to deliver major front-end engineering design services for the Nigeria-Morocco Gas Pipeline. When completed, the more than four 349-mile-long gas pipeline will connect Nigeria with Morocco, travel through 11 West African countries, and reach Europe.