Pipe Laying Vessels Market Size was valued at USD 2.3 Billion in 2022. The pipe laying vessels market industry is projected to grow from USD 2.51 Billion in 2023 to USD 5.08 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 9.20% during the forecast period (2024 - 2032). Increased production and research efforts are the main market drivers of market expansion. A key factor driving up demand for these ships globally is the rising costs in the offshore oil and gas sector.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
In order to enhance their production methods for offshore oil exploration, the world's two biggest consumers of oil and gas, China and the US, and other nations, are boosting their investments in renewable industries year over year. More than 820 billion USD had been invested globally in 2021, an increase of almost 5%. In markets with established supply chains, where costs are lower, and legal frameworks that allow for cash flow clarity, and in markets where bankers and financiers who thoroughly understand these industries look for sustainable projects to support them, renewable investment has prospered.
Furthermore, the gap between power supply and demand has also grown as a result of the rising worldwide population. In order to be fuel independent and maintain their energy security in the future, countries worldwide are investing in offshore exploration. Given the recent discovery of oil and gas exploration areas in ultra-deep waters, the market for pipe laying vessels is considered essential. Additionally, the market for pipe-lay vessel operators will be driven by increased offshore capital spending, an increase in oil rigs, and new oil platform installation plans.
Additionally, deep-water regions are becoming the prime location for international oil and gas development. They are one of the key areas contributing to the expansion in oil and gas reserves and production. In the past 40 years, five deep-water basin groupings have seen most of the world's deep-water oil and gas finds. Giant oil finds are mostly centered in Brazil, West Africa, and the Gulf of Mexico in deep-water basins of the Atlantic Ocean. The northern Atlantic Ocean's west coast of Norway is where most significant natural gas finds have been made. Massive gas reserves have been discovered in the Rovuma and Tanzania, deep-water basins along the East African continental coast. Giant oil and gas finds in deep-water basins of the West Pacific Ocean are mostly centered in the South China Sea and Southeast Asian areas. Furthermore, the central and southern Atlantic Ocean basins hold the majority of the world's deep-water oil reserves. The market for pipe laying vessels is anticipated to grow due to the comparatively high exploration level in these deep-water basins. Thus, driving the pipe laying vessels market revenue.
The pipe laying vessels market segmentation, based on installation includes J-lay barges, S-lay barges and reel barges. The S-lay barges segment dominated the market. S-lay barges are specifically made for laying pipes in shallow and medium-depth water. This results from its fast production rate and capability to install pipes with a concrete coating. The 600-meter S-lay system and the J-lay system for pipe laying applications are combined in this pipe laying vessel market, together with a 5,000 mt Offshore Mast Crane for heavy lifting and deepwater building. Additionally, it has huge vessels and relatively long stingers that help it reach deeper water.
The pipe laying vessels market segmentation, based on positioning system, includes anchor system and dynamic positioning system. The anchor system category generated the most income. The anchoring system is made to enable the secure mooring of a vessel offshore in fair weather. The system must be able to maintain the vessel's position in accordance with the anchor's holding power, as determined by the "Equipment Number" calculation. A specific retrofitting anchor system is used by a number of important operators operating pipe laying vessels to position themselves during pipe-lay without disturbing the seafloor.
Figure 1: Pipe Laying Vessels Market, by Positioning System, 2024 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The pipe laying vessels market segmentation, based on depth, includes shallow water and deep water. The deep water category generated the most income. This is due to a number of factors, including technological development and an increase in the likelihood of deepwater and ultra-deepwater projects in several nations, including Gabon, Senegal, Egypt, Guyana, Trinidad & Tobago, and the Gulf of Mexico, which are actively supporting the development of deepwater and ultra-deepwater reserves during the assessment. In turn, it is projected that this will soon lead to positive changes for the market for pipe lay vessels.
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American pipe laying vessels market area will dominate this market. The expansion of exploration and production operations as well as rising investments in the offshore oil and gas sector are the main drivers of regional market growth.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: Pipe Laying Vessels Market Share By Region 2022 (Usd Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe pipe laying vessels market accounts for the second-largest market share. Subsea 7, Tidewater, Inc., and Allseas, three main participants in the pipe laying vessel market, primarily concentrate on organic growth strategies to supply the worldwide pipeline market. In addition, investments in the region's oil and gas sector to increase output of natural gas and crude oil are anticipated to fuel demand for pipe laying vessels for drilling in the years to come. Further, the German pipe laying vessels market held the largest market share, and the UK pipe laying vessels market was the fastest growing market in the European region
The Asia-Pacific Pipe laying vessels Market is expected to grow at the fastest CAGR from 2023 to 2032. The need for pipe laying vessels is being fueled by the brisk expansion of the oil and gas sector in developing nations like China and India. Furthermore, due to improvements in offshore oil exploration and production technologies, growth in this area is anticipated to be strong. Moreover, China’s pipe laying vessels market held the largest market share, and the Indian pipe laying vessels market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the pipe laying vessels market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, pipe laying vessels industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the pipe laying vessels industry to benefit clients and increase the market sector. In recent years, the pipe laying vessels industry has offered some of the most significant advantages to market. Major players in the pipe laying vessels market attempting to increase market demand by investing in research and development operations include Subsea 7 (London), Allseas (US), Tidewater, Inc (US), TechnipFMC Plc (New Castle), Saipem (Milan), Seacor Marine (Texas, US), Van Oord (Netherlands), Boskalis (Netherlands), Hyundai Heavy Industries (South Korea), Royal IHC (Netherlands), Telford Offshore (UAE), and Leighton Offshore (Hing Kong).
Shipbuilding firm Royal IHC, formerly known as IHC Merwede BV. The business provides engineering solutions. Dredging equipment, motion control and automation equipment, offshore foundation equipment, and metal construction kits are all part of its product line. IHC offers a variety of services, including design and ship building, project management, commissioning, leasing services, renovation, technical support, and training. Additionally, it creates, produces, and offers dredging and mining equipment and vessels for the maritime industry.
A French-American oil and gas corporation with UK headquarters, TechnipFMC plc offers services to the energy sector. The merger of French Technip and American FMC Technologies, which was announced in 2016 and finalized in 2017, resulted in the creation of the business. The three major areas in which TechnipFMC operates are subsea, offshore/onshore, and surface projects. These projects include platforms and rigs for offshore oil and gas exploration and extraction, crude oil refineries, petrochemical plants for the plastics and rubber industries, fertilizer plants, onshore LNG plants, and SynGas plants. In March 2020, to collaborate on future NEXBTLTM technology-based projects, TechnipFMC and Neste. The NEXBTLTM technology enables the production of renewable diesel and other renewable products from second-generation feedstocks like vegetable oil or waste fat.
January 2022: For onshore product information, TechnipFMC releases a Surface app. Surface Division provides worldwide sales and support. For our most well-liked product lines, brochures, catalogues, and Operation & Maintenance Manuals are included with each product line in addition to a high-level description.
December 2021: Boskalis publishes a new issue of its magazine Creating New Horizons. This new issue looks behind the scenes of what the New York Times called "one of the largest and most intense salvage operations in modern history" as we return to the Suez Canal in late March, when the massive container ship Ever Given ran aground.
March 2021: Leighton introduced the first flying tunnel boring machines in Asia. Leighton Asia and HOCHTIEF were the first to employ a "Flying Launch" structure to launch TBMs safely, quickly, and efficiently.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 2.3 Billion |
| Market Size 2023 | USD 2.51 Billion |
| Market Size 2032 | USD 5.08 Billion |
| Compound Annual Growth Rate (CAGR) | 9.20% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Installation, Positioning System, Depth and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Subsea 7 (London), Allseas (US), Tidewater, Inc (US), TechnipFMC Plc (New Castle), Saipem (Milan), Seacor Marine (Texas, US), Van Oord (Netherlands), Boskalis (Netherlands), Hyundai Heavy Industries (South Korea), Royal IHC (Netherlands), Telford Offshore (UAE), and Leighton Offshore (Hing Kong) |
| Key Market Opportunities | Increasing deep water and ultra-deep-water discoveries |
| Key Market Dynamics | · Increasing need for energy, oil and gas across the world · Investment in offshore oil & gas and renewable sectors |
Pipe Laying Vessel Market Highlights:
Frequently Asked Questions (FAQ) :
The pipe laying vessels market size was valued at USD 2.3 Billion in 2022.
The market is projected to grow at a CAGR of 9.20% during the forecast period, 2024-2032.
North America had the largest share in the market.
The key players in the market are Subsea 7 (London), Allseas (US), Tidewater, Inc (US), TechnipFMC Plc (New Castle), Saipem (Milan), Seacor Marine (Texas, US), Van Oord (Netherlands), Boskalis (Netherlands), Hyundai Heavy Industries (South Korea), Royal IHC (Netherlands), Telford Offshore (UAE), and Leighton Offshore (Hing Kong).
The s-lay barges category dominated the market in 2022.
The deep water category had the largest share in the market.
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