Share this article Share this article ResearchAndMarkets.com's offering. The market was valued at US$ 11.97 billion in 2019 and is projected to reach US$ 15.01 billion by 2027; it is expected to grow at a CAGR of 3.1% from 2020 to 2027. The US, Canada, and Mexico are major economies contributing to the offshore pipeline market in North America. North America is a developed region in terms of various factors such as modern technology, standard of living, and infrastructure. The region comprises ~14% of the crude oil and 6% of the natural gas reserves in the world. It supplies ~23% of oil and ~27% of gas to the world. It represents ~22% of the total energy consumed worldwide. The US and Canada are witnessing exceptional growth in the production of shale reserves, fossil fuel, oil sands, and tight oil. The oil & gas industry in North America is anticipated to witness low investments in the exploration and production activities during the forecast period.