Cable Laying Vessel Market to Reach US$ 3.31 Bn by 2031, TMR Report

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May 05, 2022, 00:30 ET

Keen players in the cable laying vessel market play a major role in manufacture of vessels for diverse needs of the offshore energy industry
Focus on capacity, efficiency, and flexibility is leading to the development of cable laying vessels to complete more jobs with fewer operations

ALBANY, N.Y., May 5, 2022 /PRNewswire/ -- The cable laying vessel market is estimated to expand at a CAGR of 3% during the forecast period from 2021 to 2031. The significant demand for submarine cables for high-speed broadband and mobile connectivity in subsea fuels the growth of the cable laying vessel market. Large investments from telecommunications companies for the installation of submarine cables to serve the growing demand for improved and faster underwater communication are attracting investments in the cable laying vessel market.

Economic value of submarine cables that alleviates the limitations of data transmitting capacity of existing cables creates ample opportunities in cable laying vessel market. Rise in investments in installation of subsea cables leading to increase in focus of shipbuilding companies on the development of cable laying vessels is gathering steam. According to the International Cable Protection Committee, nearly 99% of the of the world's communication is provided via subsea cables.

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Cable Laying Vessel Market – Key Findings of Report

Extensive use of subsea cables in the offshore oil & gas sector that connects oil and gas platforms with mainland power grids for high quality and reliable shore-to-platform, and internal platform fiber-optic communication creates substantial demand for specialized vessels for laying submarine cables
Economic advantages of offshore wind technology that enables to exploit both higher and smoother offshore wind resources for mega scale energy projects for densely populated coastal areas, which makes it an important addition in low carbon technologies creates ample opportunities in cable laying vessel market. Nonetheless, need to address challenges in the offshore energy industry provides thrust for innovations in the cable laying vessel market. The effort of Nexans S.A. for made-to-order installation vessels for diverse needs of the offshore energy industry is a case in point.

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Investments for the development of environmentally sustainable cable laying ships are transforming the cable laying vessel market landscape. Capacity, flexibility, and efficiency are the focus of stakeholders in the cable laying vessel market. For instance, Fincantieri Norwegian subsidiary Vard – a leading global shipbuilder of specialized vessels has entered into an agreement with Dutch company Van Oord for the design and development of environment-friendly cable laying vessel.
Demand for submarine power cables for power grid connections across borders is creating new frontiers in the cable laying vessel market. Critical advantage of international power grid interconnections that allows two or more adjoining countries to share power generation resources is favorable to their commission. The installation of four subsea cable interconnectors in the U.K. that is linked with Ireland, France, Northern Ireland, and the Netherlands provides opportunities for countries on both sides of the interconnector to gain from lower cost energy supply at various times of the year.
Asia Pacific is a key region in the cable laying vessel market. Excessive penetration of mobile devices leading to laying of new subsea cables in ocean beds for data transmission provides impetus to cable laying vessels market of the region.

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Cable Laying Vessel Market – Growth Drivers

Use of cable laying vessels to lay subsea cable in the seabed for development of offshore wind farms for clean technologies creates ample opportunities in cable laying vessel market
Exponential growth of the telecommunications sector leading to construction of subsea cables for data transmission stimulates growth of the cable laying vessel market

Cable Laying Vessel Market – Key Players

Some of the key players operating in the cable laying vessel market are;

Van Oord
NEXAN
Royal Boskalis Westminster N.V.
Royal IHC
ASEAN Cableship Pte Ltd.
E-Marine PJSC
Global Marine
NTT ENGINEERING MARINE CORPORATION
Prysmian Group
NKT A/S
DEEPOCEAN
Damen Shipyards Group
Seaway 7
Orange Marine

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The cable laying vessel market is segmented as follows;

Cable Laying Vessel Market, by Vessel Type

Cable Laying
Cable Repairing

Cable Laying Vessel Market, by Capacity

Below 1000 Tons
1000 – 3000 Tons
3001 – 5000 Tons
5001 – 7000 Tons
Above 7000 Tons

Cable Laying Vessel Market, by Water Depth

Shallow Water
Deep Water

Cable Laying Vessel Market, by End User

Offshore Oil & Gas
Offshore Wind Farms
Telecom
Others (including Navy)

Cable Laying Vessel Market, by Region

U.S.
Europe

France
Italy
U.K.
Sweden
Russia
Rest of Europe

Asia Pacific

Japan
ASEAN
Rest of Asia Pacific

Middle East & Africa
Latin America

Antigua and Barbuda
Barbados
Rest of Latin America

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