Cable Laying Vessel Market Growth Accelerated by Rapidly Expanding Offshore Wind Market

 

Cable Laying Vessel Market

The cable laying vessel is a specialized type of ship used for laying down submarine communications cables on the seabed. Submarine communications cables form the backbone of internet infrastructure by carrying 99% of international data traffic and connecting countries, territories and continents through undersea networks. Cable laying vessels are self-propelled ships equipped with onboard facilities for handling, laying and burying optical fibre cables. They have state-of-the-art equipment to deploy cables in water depths of over 3,000 meters. Advances in cable laying technologies aboard vessels have enabled deeper cable deployments and larger cable carrying capacities. The global cable laying vessel market is estimated to be valued at US$ 6.5 Bn in 2023 and is expected to exhibit a CAGR of 22% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

 

Market Dynamics:

One key driver for the growth of the cable laying vessel market is the increasing number of undersea cable projects globally. Over the past decade, there has been a surge in investments towards deploying new submarine cables for bolstering international and regional connectivity. As of 2022, over 420 undersea cables have been laid connecting 240 countries/regions with a total length of over 1.3 million km. International data centre operators and telecom giants have announced plans for new trans-oceanic and transregional cables to enhance bandwidth capacities and provide connectivity in underserved areas. For example, the 2Africa cable will be over 37,000 km long encircling the continent to East and South Africa and the Middle East region. Similarly, projects like Equiano and SEA-ME-WE-6 are expanding connectivity in Africa and Southeast Asia regions respectively. This high investment activity in undersea cable systems is generating significant demand for specialized cable laying vessels to carry out deployment work.

 

Another driver for the cable laying vessel industry is the increasing complexity of cable laying projects necessitating new vessel constructions. Modern telecommunication cables require larger payloads and non-conventional deployment routes which conventional vessels cannot support. This is driving vessel OEMs to develop new cable laying vessels with next-gen technologies. Vessels are being outfitted with dynamic positioning systems, advanced cable engines and deepwater operations capabilities to handle cable volumes of over 3

 

SWOT Analysis

Strength: Cable laying vessels are specialized ships used to install telecommunication cables beneath seas and oceans. They have large deck areas to transport and lay cables and can lay cables at depths of over 3,000 meters. Some key vessels are equipped with state-of-the-art Dynamic Positioning systems to accurately maneuver while laying cables.

 

Weakness: High initial investment is required to purchase and deploy these ships as they come with sophisticated systems and equipment. They also face high operating costs associated with maintenance and repair of equipment. Shorter time periods between deployments can impact profitability.

 

Opportunity: With increasing mobile and internet connectivity needs globally, the demand for cable laying projects for networks is rising across continents. New markets in Asia Pacific and Middle East regions are anticipated to undertake major projects. Advancing technologies are enabling cable laying in deeper waters and new applications.

 

Threats: Environmental challenges associated with operating in seas can disrupt projects. Geopolitical risks arising from territorial disputes in certain regions. Adoption of alternative laying methods using advanced robots can replace vessel requirements to some extent.

 

Key Takeaways

 

The Global Cable Laying Vessel Market Share is expected to witness high growth. Factors such as rising demand for telecom networks to support 5G rollout, internet connectivity for offshore oil & gas platforms and offshore wind farms will drive major requirements.

The Asia Pacific region currently dominates the market and is expected to continue its lead. Countries like China, India, Indonesia, Australia and Japan are investing heavily in subsea cable projects. Europe is another major regional market led by projects in United Kingdom, Germany, Netherlands and Scandinavian countries to enable grid connectivity.

 

Key players operating in the cable laying vessel market are Fugro, Royal Boskalis Westminster, Van Oord, Subsea 7, Global Marine Systems, DeepOcean, Oceaneering International, MODEC, TechnipFMC, and Diamond Offshore Drilling. They are engaged in design, building and operations of advanced cable ships and related installation services globally. However, the market remains fairly consolidated with the top few companies accounting for major market share.


Get More Insights Here

https://www.newswirestats.com/cable-laying-vessel-market-size-share-growth-outlook-2023/

https://ceocolumn.com/tech/what-are-field-programmable-gate-arrays-fpgas/

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