Global offshore pipeline market projected to reach $20.58 billion by 2034

The global offshore pipeline market is expected to grow from USD 13.92 billion in 2026 to USD 20.58 billion by 2034, representing a compound annual growth rate of 5.01%. This expansion is driven by increasing electricity demand, renewable energy adoption, and investments in grid modernization and decarbonization.

In the United States, energy transition challenges include regulatory hurdles and permitting delays. David Foley, global head of Blackstone Energy Transition Partners, noted that while infrastructure is needed to ease grid constraints, lengthy permitting processes remain a primary obstacle. He highlighted that artificial intelligence and data centers are responsible for approximately one-third of the average annual increase in electricity demand.

Natural gas is expected to play a continued role in balancing renewable energy supplies. U.S. natural gas demand, including exports, is projected to rise by approximately 22% over the next five years, with one-third of that growth stemming from domestic power needs.