New York, US, May 29, 2023 (GLOBE NEWSWIRE) -- According to a Comprehensive Report by MRFR/Market Research Future (MRFR), “Pipe Laying Vessels Market Information by Type, Application, and Region - Forecast till 2030", According to MRFR’s projections, the market for bicycles will surge to reach USD 4,752.4 Million by 2030, at a steady rate of 9.2% from 2022 to 2030.
Pipe Laying Vessels Market Overview
The market for maritime vessels that are expertly constructed for the development and construction of subsea infrastructure is referred to as the pipe-laying vessels market. The vessels used for pipe laying acquire the objective by transporting a lift crane, tools for installing valves, pipe and pumps, and more. A marine vessel used in the construction of underwater infrastructure is referred to as a pipe-laying vessel. It offers to connect bids from major oil players with onshore refineries. In recent years, the global pipe laying vessels market has shown rapid growth. The rise in research and production activity is the main driver of the market's expansion.
Market Competitive Landscape:
The renowned companies in the pipe laying vessels industry 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)
- Leighton Offshore (Hing Kong)
- Among others.
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Pipe Laying Vessels Market COVID 19 Analysis
Globally, the COVID-19 global health crisis has had a significant effect on the majority of industry sectors. Government-imposed travel limitations and social segregation standards have severely disrupted supply chain networks for the majority of market segments. Like all other market segments, the pipe laying vessel market has recently encountered a number of unforeseen difficulties. Air transport and tourism are still being impacted globally by the pandemic. The rapid immunization rates around the world, on the other hand, have led to a return to normalcy in the economy and in business. Over the assessment timeframe, a significant increase in the market for pipeline-laying vessels is predicted.
Report Scope:
| Report Metrics | Details |
| Market Size 2030 | 2030: USD 4,752.4 Million |
| CAGR during 2022-2030 | 9.2% CAGR |
| Base Year | 2021 |
| Forecast | 2022-2030 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Installation, Positioning System and Depth |
| Key Market Opportunities | Increasing deep water and ultra-deep-water discoveries |
| Key Market Drivers | Increasing need for energy, oil and gas across the world Investment in offshore oil & gas and renewable sectors |
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Pipe Laying Vessels Market USP Covered:
Market Drivers:
The market for pipe laying vessels is expanding as a result of rising production and investigational activities as well as rising spending in the offshore oil and gas region. the rise in the drilling industry caused by the U.S.'s increased oil production and high oil prices. Shell (Netherlands) is also investing heavily in deep-water drilling operations in the Gulf of Mexico, which is expected to provide new opportunities for pipe-laying vessel suppliers in the North American region.
Additionally, due to technological improvements in offshore oil investigation & manufacturing operations, the global market for pipe laying vessels is predicted to expand at the highest CAGR rate during the forecast period. The development of the pipe-laying vessel's capabilities and characteristics tends to operate upfront pricing of such vessels to achieve functional productivity. The growth of this market over the projection period is impacted by the cost of the pipe vessels.
In addition, one of the major factors driving the growth of the pipe-laying vessel operator market over the course of the projected period is the rising need for oil and gas around the world. The demand for fossil fuels is rising due to the strong demand for petroleum products in developing nations like China, India, and Indonesia as well as the expanding usage of natural gas for power generation and city gas distribution worldwide. Due to this, the market for pipelay vessel operators has seen an increase in investment to a significant degree.
Market Restraints:
Government rules tied to growing environmental concerns may limit market expansion.
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Pipe Laying Vessels Market Segmentation
By Installation
The segments of the global pipe laying vessels market, with respect to installation include J-lay barges, S-lay barges, and reel barges. S-lay barges already control a large portion of the global market for pipe laying vessels, and this trend is anticipated to continue. Lay barges are constructed specifically for laying pipes in shallow and intermediate water. This is a result of its fast rate of production and capability to install pipes with a concrete coating.
By Positioning System
In terms of positioning system, the global pipe laying vessels market can be considered for anchor system and dynamic positioning system. Market analysts believe that the dynamic positioning system sectors will remain in the lead for the foreseeable future. In order to maintain a fixed location, track pipe and cable laying, and provide correct directional information, offshore vessels frequently use dynamic positioning systems. For drilling vessels to maintain a fixed location while drilling deepwater, it is also used. Position keeping and track keeping (for laying pipe or cables) are used in pipe-laying vessels.
By Depth
The global pipe laying vessels market is divided into two depth-based segments: shallow water and deep water. With a 68.84% market share in 2020, the Deepwater segment is projected to grow at the fastest rate (CAGR) during the next five years.
Pipe Laying Vessels Market Regional Insights
pipe laying vessels market With a 24.8% market share in 2020, Asia-Pacific was in the lead for pipe-laying boats worldwide and is predicted to continue to be so throughout the projected period. The need for pipe-laying vessels is being driven by the brisk expansion of the oil and gas sector in developing nations like China and India. Furthermore, due to developments in offshore oil exploration and production technologies, this region is expected to experience rapid expansion.
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The pipe laying vessels market in North America, which had the highest share with 32.1% in 2020, is anticipated to rise steadily over the next years. Exploration and production activity expansion as well as rising investments in the offshore oil and gas sector are two major factors influencing the growth of the regional market. With 968 operational rigs and more than a million producing wells in 2018, the US was one of the world's major markets for pipe-laying vessels. The oil-based business Shell also intends to invest heavily in oil and gas drilling activities for deepwater regions like the Gulf of Mexico, which would probably present a lucrative potential for pipe-laying vessel distributors in North America.
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