CABLE LAYING VESSEL MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

Cable Laying Vessel Market Size and Trends

The global cable laying vessel market size is estimated to be valued at US$ 5.16 billion in 2023 and is expected to reach US$ 8.56 billion by 2030, growing at a compound annual growth rate (CAGR) of 7.5% from 2023 to 2030. Cable laying vessel are specialized ships used to lay underwater cables on the seafloor for applications such as offshore wind farms, power transmission between countries and islands, offshore oil & gas platforms, and telecommunication networks. Increasing demand for power transmission infrastructure and offshore renewable projects are key drivers fueling the growth of the cable laying vessel market.

Global Cable Laying Vessel Market Trends:

• Deployment of high-voltage direct current technology: The offshore renewable sector is increasingly adopting high-voltage direct current (HVDC) technology for long distance power transmission. HVDC cables minimize transmission losses over hundreds of kilometers. This has led to development of cable ships capable of handling complex multi-terminal HVDC networks.
• Rising deployment of submarine fiber optic cables: The surging bandwidth demand globally has led to rising investment in transcontinental submarine communications cable network projects. New fiber optic cables with terabit per sec capacities such as Dunant, Jupiter, and MAREA enable high-speed low-latency data transmission.
• Use of shore-end approach in installation: Shore-end cable installation is being increasingly used wherein the cable is pulled ashore before laying offshore. This method enables better cable lay control and minimizes vessel downtime. Leading companies are advancing pull-in systems using capstans, linear cable engines and tensioners.
• Growing adoption of autumn/winter season for activities: Cable laying during autumn/winter months is gaining preference due to favorable weather conditions. Calmer winds and lower wave heights support efficient installation. Companies are also hiring ice-class cable lay vessel designed to work in freezing waters.