Pipe Laying Vessels Market is predicted to reach USD 4,752.4 million at a CAGR of 9.2% during the forecast period

Pune, India, August 2022, MRFR Press Release/Market Research Future has published a Cooked Research Report on the Global Pipe Laying Vessels Market.

Pipe Laying Vessel Market

Global Pipe Laying Vessel Market is defined as the marketspace comprising of maritime vessels which are vividly developed for development and construction of subsea infrastructure. Pipe laying vessels attain the said goal by typically carrying a lift crane, equipment to lay pipe, equipment to install valves & pumps and more.

Pipe Laying Vessel

Market Synopsis

According to the MRFR analysis, the global pipe laying vessel market size is projected to reach USD 4,752.4 million by 2030 at a CAGR of 9.2%.

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Pipe Laying Vessel Market Research Report

A pipe laying vessel is one of the offshore support vessels used to support the offshore infrastructure. With ascend in offshore oil & gas exploration activities worldwide, the expansion of the Pipe Laying Vessel Market is anticipated in the coming foreseeable future.

The pandemic continues to have a huge impact on global tourism and air travel as people have been homebound. Closed destinations and hotels and restrictions on travel, outdoor recreational activities, and camping will impact travel and tourism. The outbreak in countries across the world has induced a steep decline in the demand for pipe laying vessels, due to the shutdown of industries and offices and slowdown in the supply of products and raw materials, due to the lockdown restrictions. Pipe Laying Vessel Market manufacturers have witnessed a steep decline in the demand for pipe laying vessels as the market has witnessed a decline in the demand from residential, industrial, and commercial sectors. However, as many economies are expected to resume economic activities by taking appropriate measures, the demand for pipe laying vessels is expected to resume in the next few months completely.

Pipe Laying Vessel Market Competitive Landscape

The Global Pipe Laying Vessel Market is characterized by the presence of many regional and local vendors. The regional pipe laying vessel market is highly competitive, with all the players continually competing to gain a larger market share. The vendors compete based on cost, product quality, reliability, and aftermarket services. Therefore, vendors must provide cost-effective and efficient products to survive and succeed in a competitive market environment.

Subsea 7, Allseas, Tidewater, Inc., TechnipFMC Plc, Saipem, Telford Offshore, Inc, Seacor Marine, Van Oord, Boskalis, Hyundai Heavy Industries, Leighton Offshore, Royal IHC are the major players in the market, competing in terms of variety of applications of Global Pipe Laying Vessel and their components, as well as efficiency, reliability, affordability, and advanced technology.

Segmentation:

Pipe Laying Vessel Market Based on installation:

• J-lay Barges: The J-Lay barges segment is expected to dominate the global market during the forecast period. The J-Lay vessels are the most suitable installation process for deepwater drilling. This process takes less stress onto the pipeline by inserting the pipeline in a vertical position than Slay barges and reel barges. The curvature of the pipeline on J-Lay barges is similar to the J shape while the subsea pipeline is installed. J-Lay is designed for deepwater pipeline installation for up to 2,000 meters in depth (6,560 ft).


• S-lay Barges: S-lay barges are specially designed for pipe installation in shallow and intermediate water. This is due to its high production rate and the ability to install concrete-coated pipes. This pipe laying vessel market combines a 600-meter S-lay system with a J-lay system for pipelaying applications as well as a 5,000 mt Offshore Mast Crane for heavy lifting and deepwater construction. Furthermore, it can also achieve greater water depth in support with large vessels and relatively long stingers.


• Reel barges: The installation of reel barges can lay pipe up to 16 inches diameter, and the water depth capacity for 16 inches pipeline is about 800 mt (2,600 ft). The reels can be installed in both horizontal as well as vertical. The horizontal reel barges are installed in S-lay installation, whereas vertical reel barges can be installed in J-lay and S-lay pipeline installation. The reel lay method is considered the fastest growing laying method owing to the growing number of welding and inspections on onshore to minimize installation time.

Pipe Laying Vessel Market Based on positioning system:

• Anchor system: The anchoring system is designed for safely mooring a vessel offshore in moderate weather conditions. The system must be capable of maintaining the vessel's position in accordance with the anchor's holding power, as calculated by the 'Equipment Number' calculation. Moreover, several key players operating in pipe laying vessel uses a particular retrofitted anchor system to position themselves during pipelay without troubling the seabed.


• Dynamic positioning system: The segment is expected to register healthy growth because of the rise in demand for dynamic positioning systems in offshore platforms due to its easy maintenance, environmental references, and other characteristics. Offshore vessels commonly use dynamic positioning systems for accurate directional, maintaining a fixed position, and tracking pipe/cable laying. It is also used in drilling vessels to remain in a fixed position while drilling deepwater.

Pipe Laying Vessel Market Based on depth:

• Shallow water: The drilling process used for oil & gas exploration and production in less than 500 feet is known as shallow water. It is less complex than the deep-water oil drilling process, resulting in superior safety records in the oil & gas industry. Particularly, drilling for oil in shallow waters is less risky than deep water and simpler to repair if it gets damaged during the drilling process. These wells are drilled in well-known locations and mature reservoirs.


• Deep water: This is attributed to various factors such as advancement in technologies, increasing the possibility of deepwater and ultra-deepwater projects in various countries such as Gabon, Guyana, Senegal, Egypt, Trinidad & Tobago, and the Gulf of Mexico, which are actively fostering the development of deepwater and ultra-deepwater reserves during the assessment. This, in turn, is anticipated to create optimistic opportunities for the global pipe lay vessel market in the near future.

Pipe Laying Vessel Market Based on regions:

• North America: The pipe laying vessel market in North America was the largest with in 2020 and is expected to exhibit progressive growth during the forecast period. The key factors driving the regional market's growth include growth in the exploration and production activities and increasing investments in the offshore oil & gas industry.


• Europe: The European market held30% share of the global pipe laying vessel market in 2020 and is expected to witness considerable growth during the forecast period. Key players in the pipe laying vessel market, such as Subsea 7, Tidewater, Inc., and Allseas, are majorly focusing on organic growth strategies to supply in the global pipe laying vessel market.


• Asia-Pacific: Asia-Pacific dominated the global pipe laying vessel market in 2020 and is expected to be the leading market during the forecast period. The robust growth of the oil & gas industry in developing countries such as China and India are fuelling the demand for pipe laying vessels. Furthermore, growth in this region is projected to be high due to advancements in offshore oil exploration & production technologies.


• Middle East & Africa: The oil & gas industry is one of the prominent industries in the Middle East & Africa and the major consumer of pipe laying vessels. The region is one of the leading crude oil producers and natural gas reserves globally. Moreover, investments in the oil & gas industry in the region to boost crude oil and natural gas production are expected to fuel the demand for pipe laying vessels for drilling purposes in the years to follow.


• South America: Latin America is considered a water-rich region, but water quality is a major issue, expected to boost demand for Pipe Laying Vessel Market.