Cable Laying Vessel Market by Capacity (1000 – 3000 Tons, 3001 – 5000 Tons, 5001 – 7000 Tons), Water Depth (Deep Water, Shallow Water), Application, End-use - Global Forecast 2024-2030

Cable Laying Vessel Market by Capacity (1000 – 3000 Tons, 3001 – 5000 Tons, 5001 – 7000 Tons), Water Depth (Deep Water, Shallow Water), Application, End-use - Global Forecast 2024-2030

The Cable Laying Vessel Market size was estimated at USD 4.64 billion in 2023 and expected to reach USD 4.86 billion in 2024, at a CAGR 5.08% to reach USD 6.57 billion by 2030.

Cable laying vessels are specialized ships organized for the installation of subsea cables. They play a critical role in various applications ranging from telecommunications to energy, where they lay and repair underwater cables. These vessels are furnished with advanced technology, such as dynamic positioning systems and cable plows, to perform their tasks with precision and efficiency. The escalating need for high-speed Internet and the expansion of telecommunications in remote areas bolster demand for underwater cables. Growing investment in offshore wind farms necessitates the deployment of additional power cables. In addition, government initiatives to enhance telecommunications infrastructure can positively influence market growth. However, high investments associated with the procurement and operation of cable laying vessels decrease their deployment. Furthermore, innovations in cable-laying technology can significantly reduce operational costs and increase efficiency.

Regional Insights

The United States and Canada constitute a significant market for cable laying vessels, primarily driven by governmental policies supporting the expansion of offshore wind energy and intercontinental power and fiber-optic cables. Customer purchasing behavior here leans towards high-capacity, technologically advanced vessels, mirroring the region's push for innovation and efficiency. The European Union countries have a steady demand for cable laying vessels, propelled by the initiatives to increase offshore wind farms as part of the bloc's renewable energy targets. The Middle East, while currently a smaller market, displays potential due to developing undersea cable projects. In Africa, the need for both power infrastructure and improved internet connectivity presents significant opportunities for growth in the cable vessel market. In the APAC region, countries including China, Japan, and India are leading the surge in cable laying vessel deployment. This is mainly due to the enormous investments in telecommunications and renewable energy projects such as offshore wind development. The consumer need for rapid expansion of high-speed internet and the pursuit of sustainable energy sources are driving market demand.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Cable Laying Vessel Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

• Growing demand for high-speed internet and the expansion of telecommunications in remote areas
• Government initiatives to enhance telecommunications infrastructure
• Rising demand for cross-border power grid connections

Market Restraints

• High cost investments associated with the procurement and operation of cable laying vessels

Market Opportunities

• Ongoing advancements in cable-laying technology to increase efficiency & operational cost
• Increasing investment in offshore wind farms from private & public sector

Market Challenges

• Environmental risks associated with cable laying in sensitive marine habitats

Market Segmentation Analysis

• Capacity: Growing preference for above 7000 tons capacity vessels due to its extended operational capabilities
• Water Depth: Ongoing advancements in deepwater cable-laying vessels with enhanced protection against environmental hazards
• Application: Increasing global digitalization driving the demand for cable laying vessels
• End-use: Rising significance of cable laying wind farms due to increasing demand of renewable energy sources

Market Disruption Analysis

• Porter’s Five Forces Analysis
• Value Chain & Critical Path Analysis
• Pricing Analysis
• Technology Analysis
• Patent Analysis
• Trade Analysis
• Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Cable Laying Vessel Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Cable Laying Vessel Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Taihan acquired Korea’s only cable laying vessel

Taihan has made a strategic leap in the offshore wind power sector with the procurement of South Korea's sole cable-laying vessel (CLV), which is tailored for offshore wind projects. This advanced CLV, worth around 50 billion won (USD 38.4 million), is endowed with self-propulsion capabilities and a sophisticated dynamic positioning system (DP2), allowing for the precision handling of up to 4,400 tons of submarine cables. This acquisition strengthens Taihan's position as a frontrunner in the turn-key submarine cable sector and places them at the vanguard of a globally blossoming offshore wind industry.

Fincantieri Lands USD 250 million Order from Prysmian for New Cable-Laying Vessel

Vard, a subsidiary of the illustrious Fincantieri Group, has been selected by the Prysmian Group for a seminal project valued at USD 250 million, designing and constructing an advanced cable-laying vessel. Touted to significantly bolster the Prysmian fleet, the most expansive in the sector, the forthcoming vessel promises to eclipse its predecessors in capabilities.

Orange launches new cable laying vessel

Orange, a French communications company, has solidified its influence in the long-distance network infrastructure sector with the introduction of its new cable-laying vessel, the Sophie Germain, through its Orange Marine subsidiary. This strategic addition, constituting 15% of the global cable ship fleet, reinforces Orange Marine's position in the submarine cable sector, credited with deploying over 257,000km of cables beneath the world's oceans.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Cable Laying Vessel Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Cable Laying Vessel Market, highlighting leading vendors and their innovative profiles. These include ABB Ltd., APAR Industries Limited, ASEAN Cableship Pte Ltd., Boskalis Westminster N.V., Colombo Dockyard PLC, Damen Shipyards Group, DeepOcean, E-Marine PJSC, Fincantieri S.p.A., Global Marine, Heinen & Hopman Engineering, Jan De Nul Group, LS Cable & System, Nexans S.A., Nippon Telegraph and Telephone Corporation, NKT A/S, Orange SA, Prysmian Group S.p.A., Royal IHC, Subsea 7 S.A., Taihan Cable & Solution Co., Ltd., TFKable, Tratos Group, Van Oord NV, and ZTT International Limited.

Market Segmentation & Coverage

This research report categorizes the Cable Laying Vessel Market to forecast the revenues and analyze trends in each of the following sub-markets:

• Capacity
• 1000 – 3000 Tons
• 3001 – 5000 Tons
• 5001 – 7000 Tons
• Above 7000 Tons
• Below 1000 Tons
• Water Depth
• Deep Water
• Shallow Water
• Application
• Cable Laying
• Cable Repairing
• End-use
• Oil & Gas
• Telecom
• Wind Farms

Region

• Americas
• Argentina
• Brazil
• Canada
• Mexico
• United States
• California
• Florida
• Illinois
• New York
• Ohio
• Pennsylvania
• Texas
• Asia-Pacific
• Australia
• China
• India
• Indonesia
• Japan
• Malaysia
• Philippines
• Singapore
• South Korea
• Taiwan
• Thailand
• Vietnam
• Europe, Middle East & Africa
• Denmark
• Egypt
• Finland
• France
• Germany
• Israel
• Italy
• Netherlands
• Nigeria
• Norway
• Poland
• Qatar
• Russia
• Saudi Arabia
• South Africa
• Spain
• Sweden
• Switzerland
• Turkey
• United Arab Emirates
• United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year