A marine vessel used in offshore oilfield developments is pipe laying vessel. It enables smooth functioning of operations, such as drilling and processing in plants that are situated on the shore. This is observed as chief factor that can boost the expansion of the market. The availability of various pipe laying methods, such as S-Lay, J-Lay, and reel lay that meets diverse requirements can add momentum to the market. In addition, the high number of pipe laying vessels installs in pumps, valves, and other equipment to achieve connect floating units on seabed and surface can bolster the expansion of the market.
As per Market Research Future (MRFR), in its latest “Pipe Laying Vessel Market” report, its states different factors that can impact the market. MRFR analysts estimates the pipe laying vessel global market size to touch USD 3.84 Billion against 6.34% CAGR across 2019 to 2024.
There are some major factors tha can drive the growth of the pipe laying vessel market. They are; increase in exploration activities, rise in production capacity, and hefty investments in the offshore oil and gas industry.
The pipe laying vessel study is based on installation, depth, and positioning system. The installation-based segments of the market are S-Lay barges, J-Lay barges, and reel barges. The J-Lay segment can to dominate in the pipe laying vessel global market. The positioning system based pipe laying vessel market segments are dynamic positioning and anchor system. The dynamic positioning segment can dominates in the global market. The depth-based segments of the global pipe laying vessel market are shallow and deep water. The shallow water segment can register a high growth rate. Asia Pacific, Europe, and North America are regional segments of the pipe laying vessel market.
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The pipe laying vessel marketers are actively focusing on signing agreements with supply pipe laying vessels dealers. The joined pact of TechnipFMC and DOF Subsea for 8-year long contract to supply pipe laying vessel to Petrobras (Brazil) can back the global pipe laying vessel market surge.
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Asia Pacific pipe laying vessel market to secure the largest share. It is due to the growing investments in the oil exploration and gas reservation activities across different regions in APAC. The reputed oil companies in the region are actively investing in the domestic oil & gas industry. It was reported that the Indian oil & gas industry can attract USD 25 Bn by 2022. At the same time, the rise in demand for energy across Australia, India, and Indonesia is expected to prompt the Asia Pacific pipe laying vessel market.
In North America and Middle East Asia, pipe laying vessel market is expected to surge owing to the rise in focus on development of offshore reserves that can replace maturing onshore fields. In 2017, the US EIA (Energy Information Agency) reported rise in oil production in the US owing to high oil prices, followed by increase in drilling activities. At the same time, Shell (Netherlands) invested heavily in drilling activities in deep water areas of the Gulf of Mexico. These are expected to create new growth scopes for pipe laying vessel providers in the region. This impel North America market growth in years to come.
Table Of Contents
1 Executive Summary
2 Market Introduction
2.1 Market Definition
2.2 Scope Of The Study
2.3 Market Structure
3 Research Methodology
3.1 Primary Research
3.2 Secondary Research
3.3 Market Size Estimation
3.4 Forecast Model
3.5 List Of Assumptions
3.6 Limitations Of The Study
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