Market Overview

Global Cable Ship Market Size Was Valued At USD 2.36 Billion In 2022 And Is Expected To Reach USD 3.35 Billion By 2030, Growing At A CAGR Of 5.3% During The Forecast Period Of 2023-2030.

The cable ship market is a specialized part of the maritime business that deals with the installation and repair of subsea cables. Subsea cables are used to send power, data, and phone signals between offshore installations and between countries. The market is growing because offshore wind energy, oil and gas, telecommunications, and other businesses need more subsea cable installation and maintenance. The demand for cable ships is likely to be driven by the growing investments in offshore wind energy and the growth of the global communications network.

At least for a short time, the war between Russia and Ukraine made it harder for the world economy to get back on its feet after the COVID-19 pandemic. Because of the fight between these two countries, a number of other countries have been hit with economic measures, which have caused prices to go up and messed up the supply chain. Because of this, prices for goods and services have gone up, hurting many markets around the world. The shipboard wires market is expected to hit $3.76 billion in 2027, which means it will grow by 10.4% each year.

In 2021, Underwater lines had a $25.50 billion market value. From 2022 to 2030, the market is expected to grow at a rate of 6.1% per year. Increasing investments in offshore wind farms, more data flow, and investments made by OTT companies to meet demand are the main things driving the market. Submarine cables are used for power and information in many ways. They are often used to join countries and islands, move electricity from wind farms in the ocean to power plants, and send electricity to oil rigs.

Market Dynamics

Trends: Demand for renewable energy is growing

In the past few years, there has been a big rise in the demand for green energy sources like offshore wind power. This trend is likely to keep going, which will increase the need for cable ships, which are used to set up and maintain subsea lines for offshore wind farms.

The telecommunications industry is growing

The demand for high-speed internet connections and the rise of 5G networks are driving the fast growth of the global telecommunications industry. This growth is likely to increase the demand for subsea cables and cable ships, which are needed to lay and manage the cables.

More money going into research and development

The cable ship business is very competitive, and companies spend in research and development to come up with new technologies and tools that will help them run their businesses more efficiently. This trend is likely to keep going, with more money going into research and development (R&D) to give companies an edge in the market.

Drivers: Demand for installing and maintaining cables under the sea is growing

Installation and upkeep of subsea cables are becoming more important as the offshore wind energy industry grows, global communications networks grow, and more people want to connect continents to each other. This is a big reason why the cable ship market is growing, since cable ships are needed to put and fix cables under the sea.

The offshore wind energy sector is growing

The offshore wind energy industry is growing quickly because more people want to use green energy sources. Subsea lines for offshore wind farms need to be put in place and kept in good shape. This requires cable ships, and the growth of the offshore wind industry is likely to increase the demand for cable ships.

The telecommunications industry is growing

The demand for high-speed internet connections and the rise of 5G networks are driving the fast growth of the global telecommunications industry. This growth is likely to increase the demand for subsea cables and cable ships, which are needed to lay and manage the cables.

Improvements in technology

In the cable ship business, the tools and machines used to lay cables and keep them in good shape are getting a lot smarter. This includes making new machines for laying cables, tanks for storing cables, and special equipment for the deck, as well as more advanced tracking and communication systems. It is believed that these improvements will make it easier and safer to lay and maintain cables.

Restraints: High Investment of Capital

Cable ships are very specialized ships that take a lot of money to design, build, and keep up. This high cash investment is a big problem for the market because it makes it hard for new people to get in.

Dependence on a Few Big Customers

The cable ship market depends a lot on a few big customers, like big telecommunications companies and people who build offshore wind farms. This can cause changes in demand and prices, which can make it hard for smaller players to compete.

Opportunity: Demand for offshore wind power is growing

The offshore wind energy industry is growing quickly because more people want to use green energy sources. This is a big chance for companies that run cable ships, which are needed to lay and maintain subsea lines for offshore wind farms.

The telecommunications industry is growing

The demand for high-speed internet connections and the rise of 5G networks are driving the fast growth of the global telecommunications industry. This growth is good for cable ship companies because they are needed to lay and keep undersea cables for global communication networks.

Major Segments Covered 

On The Basis Of Type:

Vessel Length <100 m

In this part, there are cable ships that are shorter than 100 meters. Most of the time, these ships are smaller and made for laying and maintaining cables in shallow water, such as in coastal areas and nearshore settings.

Vessel Length >100 m

In this part, there are cable ships that are longer than 100 meters. Most of the time, these ships are bigger, and they are made to lay and fix cables in deep water, such as in offshore oil and gas areas, wind farms, and telecommunications networks.

On The Basis Of Application:

Power Cable

In this segment, you'll find cable ships that are made to lay and keep power cables that are used in systems that move and distribute electricity. These power cables can be used to send energy from power plants to distribution networks or to send electricity to homes and businesses.

Communication Cable

This part talks about ships that are made to lay and fix communication lines that are used in telecommunication networks. You can send data, voice, and video messages over long distances with these communication cables.

 On The Basis Of End-User:

Power Transmission and Distribution Companies

This part talks about cable ships, which are used to lay and repair power cables for sending and receiving energy. Most of the time, these businesses work in the power industry, which means they need cable ships that can handle heavy-duty power cables and have special tools for laying and fixing these cables.

Telecommunications Companies

 This part talks about cable ships, which are used to set up and fix communication cables that send voice, data, and video messages over long distances. Most of the time, these businesses work in the telecommunications industry and need cable ships with special tools for laying and fixing fiber optic cables.

Offshore Oil and Gas Companies

 This part talks about cable ships, which are used to lay and repair lines for oil and gas platforms in the ocean. Most of the time, these businesses work in the oil and gas industry. They need cable ships that can handle heavy-duty cables and have special tools for laying and fixing these cables.

Others

This part talks about cable ships that are also used for things like scientific study, saving people from sinking submarines, and military operations. These customers have specific needs and may need special tools or changes to the cable ship to meet them.

Scope Of Report

Key Vendors

• Fincantieri
• Fujian Mawei
• Ulstein Verft
• Kleven
• Colombo Dockyard
• Royal IHC
• Shunzheng Shipyard
• Kanrei Shipbuilding
• Damen Shipyards
• CSSC
• others

1. Fincantieri

Fincantieri is one of the biggest shipbuilding groups in the world, and it is also the best in terms of being flexible and coming up with new ideas. It is the leader in designing and building cruise ships and a reference player in all high-tech shipbuilding industry sectors, from naval to offshore vessels, from high-complexity special vessels and ferries to mega-yachts, ship repairs and conversions, systems and components production, and after-sales services.

With its main office in Trieste, Italy, the Group has built more than 7,000 ships in its more than 230 years of business. Fincantieri is the largest shipbuilder in the Western world. It has almost 20,000 workers, with more than 7,800 of them in Italy. It also has 18 shipyards on 4 continents. Its customers include the biggest cruise lines, the Italian and U.S. navies, and a number of other foreign navies. It also works with some of the biggest European defense companies on large-scale projects.

2. Ulstein Verft

Martin Ulstein started a shop to fix fishing boats in 1917. Even though it's been 100 years, Ulstein is still run by the same family and is based on the rough northwest coast of Norway. Their people work hard to create cutting-edge ship designs, build fuel-efficient ships, and give the maritime industry goods and services that are focused on the future. They come up with ways to make marine activities more sustainable in the future.

3. Kleven

KLEVEN MARINE LLC was started in 2005. It focuses on marine and offshore goods and services, especially in the tug-barge, tanker, and offshore supply and AHTS markets. Shipyards and ship owners can also buy full pump packages from them, and they also sell spare parts.

4. Colombo Dockyard

Colombo Dockyard PLC is the best place in Sri Lanka to fix ships, build new ones, work on heavy machinery, and do offshore engineering. Conveniently located in the port of Colombo, which is the center of all important shipping routes between the West, the Middle East, the Far East, Africa, and Australia. Colombo Dockyard is in a good position to do both dry dock and on-the-water activities.

5. Royal IHC

Royal IHC is a top provider of marine technology and high-quality work. Driven by new ideas, the company's experts give their customers in the dredging, offshore, mining, and defense businesses a competitive edge. But Royal IHC is a lot more than just ships, tools, and services.

They provide reliable, integrated solutions that improve operating efficiency and build a foundation for a more sustainable performance. As they move into new areas, their goal stays the same: to find the best and safest way forward for both their customers and their people. Together, the company makes the future of the sea.

Regional Insights

Geographically The Cable Ship Market has been broken down into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. (MEA).



During the time period covered by the forecast, North America is expected to have the biggest part of the market and lead the cable vessel industry. The North American cable vessel market is driven by the growth of electricity infrastructure and the number of offshore wind power projects in places like the US, Mexico, Canada, Brazil, and Argentina.

Asia-Pacific is expected to grow the most quickly because more and more telecom and power cables are needed there. Due to the growing demand for tech products in developing countries like China, India, Japan, and South Korea, the Asia-Pacific cable-laying ship market, which was worth USD X million in 2016, is projected to grow at a CAGR of XX% from 2017 to 2030.

Europe's cable lapping ship market accounted for over 25% of global revenue share in 2016 on account of significant investments made by telecom service providers such as Vodafone Group; Telefonica; Orange S.A.; Deutsche Telekom AG; BT Group PLC among others who are investing huge amounts into deploying fiber optic infrastructure across Europe which will drive the telecommunication industry growth over next eight years thereby driving regional growth over next two decades to come at a CAGR exceeding 6%.

In this area, more wind farms are being made and used than ever before, and China is leading the way. IEEFA says that China could use 4.6GW1 of offshore wind power in 2018. In 2018, the world added a total of 4.5GW of offshore wind power, but only 1.8GW of that was put in place in the country. Off the coast of Jiangsu Province, China approved 24 wind power projects in January 2019 with a total capacity of 6.7GW and an increase in investment of USD 18 billion. These offshore wind projects are backed by some of China's biggest power companies, like China Energy Group, China General Nuclear Power Corp., China Huaneng Group, and the State Power Investment Corp.

The Middle East and Africa are expected to be the places where cable vessels will have the most growth. This is because they need more energy and have a lot of big building projects, such as mines and industrial parks.

Market Segmentation

 By Type:

• Vessel Length <100 m
• Vessel Length >100 m

By Application:

• Power Cable
• Communication Cable

By End-User

• Power Transmission and Distribution Companies
• Telecommunications Companies
• Offshore Oil and Gas Companies
• Others

Global Cable Ship Market Regional insights

• North America
  • US
  • Canada
  • Mexico
  • Rest of North America
• Europe
  • Germany
  • France
  • Italy
  • Spain
  • UK
  • Nordic Countries
    • Denmark
    • Finland
    • Iceland
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia-Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia-Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

Conclusion

The Contrive Datum Insights study papers give a full look at the market and focus on important things like the top companies, types of products, and most common uses for those products. The cable ship market is an important part of the maritime industry. It offers specialized ships for laying and maintaining power and communication cables, as well as cables for offshore oil and gas research and production. The market is driven by things like the rising demand for offshore wind energy projects, the need to upgrade and modernize the existing power transmission and distribution infrastructure, and the growing investments in offshore oil and gas exploration and production.

In cable ship market study, the main areas that are looked at are type, application, end-user, and region. By type, the market is divided into ships less than 100 meters long and ships longer than 100 meters long. The market is divided into power cable and transmission cable based on how they are used. By end-user, the market is divided into power transfer and distribution companies, telecommunications companies, offshore oil and gas companies, and others. The market is divided into North America, Europe, Asia-Pacific, and the Rest of the World, based on where it is.

Overall, the market for cable ships is expected to grow a lot in the next few years, thanks to the growing need for clean energy, the modernization of power infrastructure, and the growth of offshore oil and gas research and production. But the market also has problems, such as high capital investments, complicated laws, and a lack of skilled workers. These problems need to be fixed by the industry's key players in order to ensure long-term growth.