Global Cable-laying Vessel Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Cable-laying Vessel Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Cable-laying vessel is a deep-sea vessel designed and used to lay underwater cables for telecommunications, electric power transmission, military, or other purposes. A Cable-laying vessel is built with every modern gadget required to make the process of laying the intricate lines of cable on the oceanic floor simpler. Submarine cable installation is made possible by the tools and equipment that are on board cable-laying vessels, including ploughs, which are used to bury the cable; cable engines, which are used to tension the line; and cable-laying reels, which are used to store and pay out the cable. Cable-laying vessel is enabled with Dynamic Positioning and Dynamic Tracking systems which pinpoint the exact location of the ship in the mid-ocean and lay the underwater cables, such as telephone cables, electric power cables, or fiber optic lines appropriately.

Market Overview:

The latest research study on the global Cable-laying Vessel market finds that the global Cable-laying Vessel market reached a value of USD 587.37 million in 2022. It’s expected that the market will achieve USD 913.59 million by 2028, exhibiting a CAGR of 7.64% during the forecast period.

The global economy has been significantly impacted by the COVID-19 pandemic, with the maritime sector being one of the hardest hits. According to the International Chamber of Shipping, the industry could lose up to $12 billion in income this year as a result of the pandemic.The market for cable-laying vessels is one of the important marine industry subsectors that has been impacted by the pandemic. For a number of uses, including telecommunications, power transmission, and oil and gas pipelines, these vessels are used to lay undersea cables. Since many of the projects that these vessels were utilized for during the Covid-19 epidemic have been postponed or cancelled due to the economic crisis, there has been a substantial decline in demand for cable laying vessels.

International power grid interconnections provide links between the electricity transmission systems of two or more adjoining countries. Thus, interconnections allow those countries to share power generation resources. Demand for submarine power cables is rising for cross-border power grid connections in order to improve reliability.

As the developed and the developing countries have drifted towards the use of the internet, the global cable-laying vessel market has now been spread into North America, Europe, China and Japan. Europe is the dominant player in the cable-laying vessel market. Europe is leading in both cable-laying vessel production and cable laying services.

One of the key factors propelling the cable-laying vessel market is the rising demand for high-speed internet and data services. The need for faster internet connections is being driven by the rising demand for streaming services, online gaming, and other data-intensive activities. The demand for cable-laying vessels that can install high-capacity undersea cables has increased due to the need for faster and more dependable connectivity. The significant demand for submarine cables for high-speed broadband and mobile connectivity in subsea fuels the growth of the cable laying vessel market.

Offshore wind cable laying vessels are expensive to build and operate, which can be a barrier for some companies looking to enter the market. Moreover, finding skilled workers to operate these specialized vessels can be difficult, limiting the number of companies that can participate in the market.

Region Overview:

In 2021, the share of the Cable-laying Vessel market in Europe stood at 37.63%.

Company Overview:

Fincantieri
Fincantieri S.p.A. is an Italian shipbuilding company headquartered in Trieste, Italy. Fincantieri designs and builds merchant, passenger, offshore and naval vessels and is also active in the refit and ship repair industry. Already the largest shipbuilder in Europe, the acquisition of Vard in 2013 doubled the size of the Fincantieri Group to become the fourth largest in the world (2014). The company builds commercial and military vessels.

ulstein wirft

The Ulstein Group is a family-owned company comprising maritime companies in the fields of ship design and solutions, shipbuilding and shipping. Ulstein's vision is to create tomorrow's solutions for sustainable marine operations. The company was founded in 1917 and is headquartered in Ulsteinvik, Norway.

Fincantieri is one of the key players in the cable-laying vessel market with a share of 27.00% by 2022.

Segmentation Overview:

According to the length of the cable-laying vessel, the market can be divided into those with a length of more than 100 meters and those with a length of less than or equal to 100 meters. Cable-laying vessels with a length of more than 100 meters account for a bigger market share, due to there being currently more cable-laying vessels with a length of more than 100 meters in the market.

Application Overview:

On the basis of cable types, the cable-laying vessel market can be segmented into Power Cable and Communication Cable. Telecommunication companies are laying thousands of kilometers of optical fibers cable to connect countries and continents.

Key Companies in the global Cable-laying Vessel market covered in Chapter 3:

Fincantieri
Ulstein Verft
Colombo Dockyard
Fujian Mawei

In Chapter 4 and Chapter 14.2, on the basis of types, the Cable-laying Vessel market from 2018 to 2029 is primarily split into:

Vessel length less than or equal to 100 m
Vessel length greater than 100 m

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Cable-laying Vessel market from 2018 to 2029 covers:

Power Cable
Communication Cable

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)