Submarine pipeline is an important part of deep-sea and ultra-deep-sea oil and gas development. In the cold forming process of longitudinal submerged arc welded (LSAW) pipe, the JCO manufacturing process is one of the key forming technologies for manufacturing submarine pipeline. The main problem encountered by submarine pipelines in offshore oil and gas transportation is insufficient pipeline collapse pressure, which leads to pipeline collapse and shortens the service life of the pipeline. Therefore, the analysis of the JCO manufacturing process is of great significance to improve the collapse resistance of pipelines. In this paper, the development and research status of the JCOE/JCOC manufacturing process are reviewed. The stress, contact, and deformation of the plate are symmetrical in the JCOE/JCOC manufacturing process. The effects of expanding and compression on pipe collapse performance in the JCO manufacturing process are summarized. The asymmetric factors can reduce the collapse performance of the pipeline. Compared with expanding, compression can effectively reduce the ovality of pipe and strengthen the compression performance of pipe, to improve the collapse performance of pipe; finally, the JCOE/JCOC manufacturing process and collapse resistance of submarine pipeline is summarized and prospected.