Pipe Laying Vessel Market Overview
Global industry is expected to grow faster than ever before due to new technologies and various key industry players choosing multiple business tactics to expand globally by 2030.
Government policies and various regulations are playing vital role in this industry. Regional market growth is outstanding post pandemic. Some drivers and trends are helping the industry to grow at a high CAGR during forecast period 2023-2030.
The Pipe Laying Vessels Market size is projected to be worth USD 4,752.4 million by 2030, registering a CAGR of 9.2% during the forecast period (2022–2030).
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The utilization of such technology in offshore oil and gas exploration operations is one of the main factors driving the pipe-laying vessel industry. The gap between supply and demand for electricity has widened as a result of the growing global population. As a result, countries across the world are investing in offshore exploration to become fuel independent and ensure their energy security in the future. In light of the recent discovery of oil and gas exploration opportunities in super deep waters, the expansion of the pipe-laying vessel market is considered essential.
Regional Analysis
The biggest market share for pipe laying vessels is found in the Asia-Pacific. The main factor propelling the pipe laying vessel market in the Asia-Pacific is the rising investment in oil and gas drilling activities in the region. Throughout the projected period, China is likely to dominate the Asia Pacific pipe installation vessel market.
By 2022, it is anticipated that the oil and gas sector in India will bring in USD 25 billion for exploration. In a similar vein, rising energy consumption in nations like Indonesia, Australia, and India is likely to fuel market expansion in the Asia-Pacific region. Additionally, due to the increasing emphasis on developing offshore reserves to replace aging onshore fields.
Market Segment
- By Installation
J-lay barges, S-lay barges, and reel barges are the three installation-based subsectors of the global pipe laying vessel industry.
- By Positioning System
The pipe laying vessels market worldwide is divided into two categories based on positioning system: anchor system and dynamic positioning system.
- By Depth
The pipe laying vessels market is divided into shallow water and deep water based on depth.
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Industry News
With unique capabilities in the design and execution of massive offshore and onshore projects, Saipem is a global leader in the provision of engineering and drilling services. Saipem initially broadened its reach through the Mediterranean, where it accomplished significant and difficult plans from North Africa to Europe.
The Skandi Olinda, a lay and construction vessel flying the Brazilian flag, was delivered by DOF Subsea and TechnipFMC in February 2019 to begin their 8-year contract with Petrobras.
In 2019, Subsea 7 agreed to provide reeled pipe lay vessels for two offshore projects, one each in Australia and Senegal.
Key Players
- Subsea 7 (UK)
- Allseas (Switzerland)
- Tidewater Inc. (US)
- TechnipFMC plc (UK)
- Saipem (Italy)
- Gulfmark Offshore Inc. (US)
- Seacor Marine (US)
- Van Oord (Netherlands)
- Boskalis (Netherlands)
- Hyundai Heavy Industries (South Korea)
- DSME (South Korea)
