Report : South America Offshore Pipeline Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Diameter (More than 24 inches and Less than 24 inches), Line Type (Export Line, Transport Line, and Others), and Product (Oil, Gas, and Refined Products)
Gas Segment is Expected to be Fastest Growing During Forecast Period for SAM Region
According to a new market research study on “SAM Offshore Pipeline Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Diameter, Line Type, and Product” is expected to reach US$ 561.26 million by 2027 from US$ 497.26 million in 2019. The market is estimated to grow at a CAGR of 1.8 % from 2020 to 2027. The report provides trends prevailing in the SAM offshore pipeline market along with the drivers and restraints pertaining to the market growth. Refinement in flexible pipe technology and mounting demand for natural gas and crude oil are the major factor driving the growth of the SAM offshore pipeline market. However, obstacles associated with cross-border pipeline transportation hinder the growth of SAM offshore pipeline market.
Further, in case of COVID-19, SAM is highly affected specially the Brazil, followed by Ecuador, Chile, Peru, and Argentina, among others. Among the SAM countries, Brazil continues to occupy a dominant position in the region’s overall oil producing capabilities. The country also witnessed a major decline in its oil & gas related activities following the huge decline in oil prices and subsequent limited construction activities similar to other global market players. Thus, the country also registered a sharp decline in the demand for offshore pipelines owing to the outbreak of COVID-19 across the SAM region and subsequent lower business activities in the oil & gas sector. 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 will impact the offshore pipeline market growth of the SAM region negatively for the next few quarters.
The SAM 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 SAM, propelling the SAM 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; McDermott International, Inc.; Saipem S.p.A.; Sapura Energy Berhad; Subsea 7 S.A.; TechnipFMC plc are among the leading companies in the SAM 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, Subsea 7 announced the award of a sizeable contract by Aker BP for the Hod Field Development Project, located 12 km from the Valhall area in the southern part of the North Sea. The contract scope includes EPCI for pipelines, umbilicals and tie-ins using key vessels from Subsea 7’s modern fleet. The production pipeline is a pipe-in-pipe design and will include the world’s first application of mechanically lined pipe based on GluBi® (2) technology from BUTTING.
The report segments the SAM Offshore Pipeline Market as follows:
SAM Offshore Pipeline Market – By Diameter
- More than 24 inches
- Less than 24 inches
SAM Offshore Pipeline Market – By Line Type
- Export Line
- Transport Line
- Others
SAM Offshore Pipeline Market – By Product
- Oil
- Gas
- Refined Products
SAM Offshore Pipeline Market – By Country
- Brazil
- Argentina
- Rest of SAM
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