The global cable laying vessels market is driven by the increasing demand for electricity and telecom infrastructure. The growing investments in renewable energy sources such as wind farms and solar parks, advancements in offshore engineering activities, and technological advancements are some of the factors driving the growth of this market. Furthermore, the rising need for power cables to connect offshore oil & gas platforms, electricity grids, and telecom towers networks is another factor propelling the growth of this market.

Cable laying vessels are used to lay cables on the seabed for different applications such as connecting offshore oil fields, laying power and communication cables, and providing internet access in remote locations. The need for cable-laying vessels has increased in recent years due to their ability to provide a reliable and cost-effective solution for the submarine installation of power and communication cables. Moreover, the increasing investments in oil and gas fields and renewable energy sources such as wind farms have led to a rise in demand for cable-laying vessels.

The cable-laying vessels offer several advantages such as greater efficiency, higher control over operations, and reduced risk associated with offshore operations. These vessels are equipped with sophisticated machinery and cutting-edge navigation systems which enable them to carry out the installation of cables in a precise manner. Additionally, using these vessels reduces the need for divers thereby reducing the costs and risks involved in offshore operations. The increasing investments in renewable energy sources and the need to develop advanced communication networks are expected to drive the demand for cable-laying vessels over the forecast period.

Cable-laying vessels are ships that are specifically designed for the installation of cables on the seabed. These vessels come in various sizes and shapes depending upon their purpose and can be used in shallow waters as well as deep seas. The cable-laying vessels are equipped with sophisticated equipment such as remotely operated vehicles (ROVs), sonar systems, navigation systems, and cutting-edge machinery. These vessels provide a reliable and cost-effective solution for the installation of power and communication cables on the seabed.

The services offered by cable laying vessels include installation of submarine power and communication cables, telecommunications cable repair and maintenance, surveying operations, buried pipe and cable detection, trenching activities, cable burial, and the transport of personnel. The rising requirement for offshore infrastructure projects in the energy industry is predicted to drive up demand for these services throughout the forecast period.

The global cable laying vessels market is expected to reach a size of USD 11.1 billion by 2031 from USD 3.06 billion in 2021 at a CAGR of 16.4%.

Over the projected period, increased expenditures in offshore infrastructure projects are likely to fuel demand for cable-laying vessels.

The factors restraining the cable laying vessels market include high costs associated with the installation and maintenance of these vessels, lack of trained personnel for operating these vessels, and volatile fuel prices. In addition, several countries have imposed stringent regulations on marine operations which can further hamper the growth of this market over the forecast period.

The increasing investments in renewable energy sources, the need to develop advanced communication networks, and the growing demand for offshore infrastructure projects are expected to be a propelling factors for the cable-laying vessels market over the forecast period. Technological advancements in the navigation systems of these vessels are also expected to drive their demand. Moreover, cable-laying vessels provide a reliable and cost-effective solution for the installation of power and communication cables on the seabed, which is further expected to propel the demand for these vessels. The introduction of new cable-laying vehicles with advanced features is also anticipated to fuel the growth of this market.

The key players operating in the cable laying vessels market include Subsea 7, Global Offshore Services Inc., Boskalis, TechnipFMC, Van Oord, Saipem S.p.A., Bourbon Offshore, The Great Eastern Shipping Company Ltd., Siem Offshore Inc., and Hampson Industries. The cable laying vessels market is witnessing a trend of increasing investments in renewable energy sources, such as wind and solar power, for meeting the rising global energy needs. This has led to an increase in demand for submarine power and communication cable installation projects across the globe.

Segment Analysis

vessels with length >100 m Type to Emerge as the Most Lucrative Segment

During the forecast period, the segment of boats with lengths greater than 100 m is predicted to be the fastest expanding type in the cable-laying vessels market. This can be attributed to their capability to support large-scale power and communications cable installation projects. Moreover, these vessels offer a wide range of services such as cable repair and maintenance, surveying operations, buried cable installation, and seabed mapping. These vessels are also equipped with advanced features such as navigation systems, enabling them to undertake projects in deep waters. Furthermore, their high speed enables them to complete tasks quickly and efficiently.

The Most Popular Application Segment is the power cable

During the forecast period, the power cable segment is predicted to be the fastest-growing application in the cable-laying boat market. This can be ascribed to increased global investment in offshore wind farms and oil and gas projects. Moreover, advancements in technology have enabled these vessels to install cables with greater efficiency, thus boosting their demand for the installation of power cables. Additionally, the rising demand for renewable energy sources and offshore projects has also catalyzed the growth of this market.

The telecom to Ensure Revenue Maximization

The telecom segment is expected to dominate the cable-laying vessels market during the forecast period. This might be due to increased expenditures in communication networks and underwater cables for offering global broadband services. Moreover, advancements in technology have enabled telecom operators to offer high-speed internet services, thereby boosting the demand for submarine cables. Additionally, telecom operators are increasingly deploying cable-laying vessels for the installation of these cables, thus driving the growth of this market.

The Asia Pacific (APAC) region to render Adequate Financing Avenues

The Asia Pacific region is expected to be the fastest growing in the cable-laying vessels market during the forecast period. This can be attributed to increasing investments in offshore infrastructure projects and renewable energy sources, such as wind power and solar power. Moreover, countries such as India, China, and Japan are developing advanced navigation systems for their vessels which is further expected to fuel the growth of this market in this region.

COVID-19 Impact and Market Status

The COVID-19 pandemic has had a mixed impact on the global Cable Laying Vessels Market. The market witnessed a decline in 2020 due to travel and production restrictions imposed by governments across regions, which led to disruptions in supply chains. On the other hand, the market is expected to recover steadily over 2021 as economies are gradually re-opening.

Recent Developments in the Cable Laying Vessels Market

The global cable laying vessels market has witnessed an increase in technological advancements. For instance, in 2020, a Europe-based company launched a cable-laying vessel equipped with advanced technologies such as dynamic positioning and automated pipeline handling. This has enabled telecom operators to offer high-speed internet services, thereby boosting the demand for submarine cables. Additionally, manufacturers are launching efficient cable-laying vessels to cater to the growing demand from the oil & gas industry. Furthermore, various companies are also introducing new systems and technologies that allow cables to be installed with greater efficiency.

Cable Laying Vessels Market Scope

Key Segment of Global Cable Laying Vessels Market 

By Type Overview (USD Billion) 
    • Vessel Length ≤100 m 
    • Vessel Length >100 m 

By Application Overview (USD Billion) 
    • Power Cable 
    • Communication Cable 

By End-User Overview (USD Billion) 

    • Oil & Gas 
    • Wind Farms 
    • Telecom 
    • Others 

By Region Overview (USD Billion) 

North America 
    • USA 
    • Canada 

Asia Pacific 
    • China 
    • India 
    • Japan 
    • Rest of Asia Pacific 

South America 
    • Mexico 
    • Brazil 
    • Rest of North America 

Europe 
    • Germany 
    • France 
    • UK 
    • Rest of Europe 

Middle East and Africa