Offshore Pipeline Market Outlook: Growth Projections and Emerging Trends for 2024
The offshore pipeline market was estimated at USD 14.5 billion in 2022 and is likely to grow at a CAGR of 4.72% during 2023-2028 to reach USD 19.17 billion in 2028.
Offshore pipelines are used on the seabed or inside the trench to transport oil & gas. These pipelines are mostly made of carbon steel and vary from 3 inches to 72 inches from gas lines for high-capacity lines. The offshore pipeline inside the wall carries seawater or corrosive substances, it is coated with materials such as epoxy and polyurethane.