Global HVDC/HVAC Power Cable Laying Vessel Market Research Report Information By Power Cable Type, By Vessel, By Technology, By Capacity, By End User and By Region Forecast to 2032
Global HVDC/HVAC Power Cable Laying Vessel Market Research Report Information By Power Cable Type (HVDC and HVAC), By Vessel (Cable Laying, Cable Repairing and Cable Laying Barge), By Technology (Dynamic Positioning Systems, ROV-Assisted Cable Laying, Cable Burial & Trenching Technologies and Rock Cutting), By Capacity (>1000 Tons, 1001-3000 Tons, 3001-5000 Tons, 5001-7000 Tons and Above 7000 Tons), By End User (Oil & Gas, Wind Farms, Interstate, Telecommunication and Others) and By Region Forecast to 2032
Market Overview
The HVDC/HVAC Power Cable Laying Vessel Market was valued at USD 1,178.6 million in 2022. The HVDC/HVAC Power Cable Laying Vessel Market is expected to increase from USD 1,246.5 million in 2023 to USD 2,164.7 million by 2032, with a compound yearly growth rate (CAGR) of 8.91% throughout the forecast period (2024-2032).
The HVDC/HVAC power cable laying vessel market includes specialized vessels for installing and repairing underwater power cables. These vessels are critical to the development of offshore renewable energy projects, particularly offshore wind farms, as well as linking remote power sources to onshore systems. These vessels are outfitted with cutting-edge technology, including dynamic positioning systems, cable handling equipment, and subsea trenching systems, to enable accurate and efficient cable installation. They serve an important role in ensuring the reliable and efficient transmission of power over great distances, both domestically and globally.
Market Segment insights
The HVDC/HVAC Power Cable Laying Vessel Market is divided into two segments based on power cable type: HVDC and HVAC.
The market is divided into three segments based on vessel type: cable laying, cable repair, and cable laying barge.
The HVDC/HVAC Power Cable Laying Vessel Market is divided into four segments based on end use: Dynamic Positioning Systems, ROV-Assisted Cable Laying, Cable Burial and Trenching Technologies, and Rock Cutting.
The market is divided into five segments based on capacity: >1000 Tons, 1001-3000 Tons, 3001-5000 Tons, 5001-7000 Tons, and Above 7000 Tons.
The HVDC/HVAC Power Cable Laying Vessel Market is divided into two segments based on water depth: shallow and deep water.
The market is divided into end users such as oil and gas, wind farms, interstate, telecommunications, and others.
Regional insights
The HVDC/HVAC Power Cable Laying Vessel market is divided into five regions: North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. The Asia-Pacific HVDC/HVAC Power Cable Laying Vessel market has the largest market share and is predicted to account for a sizable revenue share throughout the forecast period. The Asia Pacific area is emerging as a major player in the HVDC and HVAC power cable laying vessel markets, driven by fast industrialization, urbanization, and rising energy demand. Countries such as China, Japan, and India are making significant investments in renewable energy projects, such as offshore wind and solar systems, demanding improved cable laying technologies to support these advances. The region's extensive coastline and offshore resources provide unique prospects for cable laying operations, increasing demand for specialist vessels. Furthermore, government regulations aimed at increasing energy efficiency and lowering reliance on fossil fuels are driving investment in infrastructure, including HVDC systems.
Major Players
Key players in the HVDC/HVAC Power Cable Laying Vessel Market include Prysmian Group, Nexans, NKT A/S, Seway7, Van Oord, Boskalis, Taihan Cable & Solution, Global Marine Group, DeepOcean, ASEAN Cableship, OMS Group Sdn Bhd, ZTT Group, LS Cable & System Ltd., Orient Cable (NBO), and others.
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
1.1 MARKET ATTRACTIVENESS ANALYSIS
1.1.1 HVDC/HVAC POWER CABLE LAYING VESSEL MARKET, BY POWER CABLE TYPE
1.1.2 HVDC/HVAC POWER CABLE LAYING VESSEL MARKET, BY VESSEL TYPE
1.1.3 HVDC/HVAC POWER CABLE LAYING VESSEL MARKET, BY CAPACITY
1.1.4 HVDC/HVAC POWER CABLE LAYING VESSEL MARKET, BY TECHNOLOGY
1.1.5 HVDC/HVAC POWER CABLE LAYING VESSEL MARKET, BY WATER DEPTH
1.1.6 HVDC/HVAC POWER CABLE LAYING VESSEL MARKET, BY END USER
1.1.7 HVDC/HVAC POWER CABLE LAYING VESSEL MARKET, BY REGION
2 MARKET INTRODUCTION
2.1 DEFINITION
2.2 SCOPE OF THE STUDY
2.3 MARKET STRUCTURE
2.4 KEY IMPLEMENTATION CRITERIA
3 RESEARCH METHODOLOGY
4 MARKET DYNAMICS
4.1 INTRODUCTION
4.2 DRIVERS
4.2.1 GROWING DEMAND FOR RENEWABLE ENERGY INTEGRATION
4.2.2 EXPANDING OFFSHORE ENERGY INFRASTRUCTURE
4.3 RESTRAINTS
4.3.1 HIGH INITIAL INVESTMENT COSTS
4.3.2 TECHNICAL CHALLENGES AND OPERATIONAL RISKS
4.4 OPPORTUNITIES
4.4.1 GOVERNMENT INITIATIVES AND POLICY SUPPORT IN ASIA
4.4.2 GRID MODERNISATION
5 MARKET FACTOR ANALYSIS
5.1 SUPPLY/VALUE CHAIN ANALYSIS
5.2 PORTER FIVE FORCES
5.2.1 THREAT OF NEW ENTRANTS
5.2.2 BARGAINING POWER OF SUPPLIERS
5.2.3 BARGAINING POWER OF BUYERS
5.2.4 THREAT OF SUBSTITUTES:
5.2.5 COMPETITIVE RIVALRY
5.3 IMPACT OF CORONAVIRUS OUTBREAK ON THE HVDC/HVAC POWER CABLE LAYING VESSEL MARKET
5.3.1 OVERVIEW OF SUPPLY AND DEMAND SCENARIO
5.3.2 IMPACT OF COVID-19 ON SUPPLY CHAIN ANALYSIS
6 HVDC/HVAC POWER CABLE LAYING VESSEL MARKET, BY POWER CABLE TYPE
6.1 INTRODUCTION
6.2 HVDC
6.3 HVAC
7 HVDC/HVAC POWER CABLE LAYING VESSEL MARKET, BY VESSEL TYPE
7.1 INTRODUCTION
7.2 CABLE LAYING
7.3 CABLE REPAIRING
7.4 CABLE LAYING BARGE
8 HVDC/HVAC POWER CABLE LAYING VESSEL MARKET, BY CAPACITY
8.1 INTRODUCTION
8.2 >1000 TONS
8.3 1001-3000 TONS
8.4 3001-5000 TONS
8.5 5001-7000 TONS
8.6 ABOVE 7000 TONS
9 HVDC/HVAC POWER CABLE LAYING VESSEL MARKET, BY TECHNOLOGY
9.1 INTRODUCTION
9.2 DYNAMIC POSITIONING SYSTEMS
9.3 ROV-ASSISTED CABLE LAYING
9.4 CABLE BURIAL TRENCHING TECHNOLOGIES
9.5 ROCK CUTTING
10 HVDC/HVAC POWER CABLE LAYING VESSEL MARKET, BY WATER DEPTH
10.1 INTRODUCTION
10.2 SHALLOW WATER
10.3 DEEP WATER
11 HVDC/HVAC POWER CABLE LAYING VESSEL MARKET, BY END USER
11.1 INTRODUCTION
11.2 OIL & GAS
11.3 WIND FARMS
11.4 INTERSTATE
11.5 TELECOMMUNICATION
11.6 OTHERS
12 HVDC/HVAC POWER CABLE LAYING VESSEL MARKET, BY REGION