Europe Umbilical Tether Cable Market for Remotely Operated Vehicle (ROV) Size & Share, by Product Type (Umbilical Cable, Tether Cable); Application (Observation Vehicle, Work Class Vehicles, Prototype or Development Vehicles, Towed & Bottom Crawling Vehicle) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2033

  • Report ID: 4598
  • Published Date: Jan 26, 2023
  • Report Format: PDF, PPT
  1. An Outline of the Umbilical and Tether Cable Market for Remotely Operated Vehicles
    1. Market Definition
    2. Market Segmentation
    3. Product Overview
  2. Assumptions and Abbreviations
  3. Research Methodology and Approach
    1. Research Process
    2. Primary Research
      1. Manufacturers
      2. Suppliers/Distributors
      3. End Users
    3. Secondary Research
    4. Market Size Estimation
  4. Summary of the Report for Key Decision Marker
  5. Forces of the Market Constituents
    1. Factors/Drivers Impacting the Growth of the Market
    2. Market Trends for Better Business Practices
  6. Key Market Opportunities for Business Growth
    1. Based on the Cable Type
    2. Based on the Application
    3. Based on the Geographical Presence
  7. Major Roadblocks for the Market Growth
  8. Government Regulation
  9. Technology Transition and Adoption Analysis
  10. Industry Risk Analysis
  11. Europe Economic Outlook: Challenges for Europe Recovery and its Impact on Europe Umbilical and Tether Cable Market for Remotely Operated Vehicles
    1. Ukraine-Russia Crisis
    2. Potential US Economic Slowdown
  12. Impact of COVID-19 on Europe Umbilical and Tether Cable Market for Remotely Operated Vehicles
  13. Country-Wise Analysis
  14. Industry Pricing Benchmarking & Analysis
  15. Industry Growth Outlook (w.r.t Cable Type)
  16. Industry Supply Chain Analysis
  17. Use Case Analysis in ROVs
  18. Competitive Positioning: Strategies to differentiate a company from its competitors
  19. Competitive Landscape
    1. Market Share Analysis, 2022
    2. Competitive Benchmarking
    3. Business Profiles of Key Enterprises
      1. TE Connectivity
      2. Nexans S.A
      3. TechnipFMC plc
      4. Oceaneering International, Inc.
      5. Fibron
      6. Novacavi srl
      7. Habia Cable
      8. Amokabel UK Ltd.
      9. Elmeridge Cables Limited
      10. Cable Solutions Worldwide
  20. Europe Umbilical and Tether Cable Market for Remotely Operated Vehicles
    1. Market Overview
    2. By Market Volume (Tons)
    3. Europe Umbilical and Tether Cable Market for Remotely Operated Vehicles Segmentation Analysis 2022-2033
      1. By Cable Type
        1. Umbilical Cable, Market Volume (Tons), 2022-2033F
          1. Steel Tube Umbilical, Market Volume (Tons), 2022-2033F
          2. Thermoplastic Hose Umbilical, 2022-2033F (Tons)
          3. Power and Communication System Umbilical, Market Volume (Tons), 2022-2033F
          4. Hybrid Umbilical, Market Volume (Tons), 2022-2033F
        2. Tether Cable, Market Volume (Tons),2022-2033F 
          1. Neutrally Buoyant Tether Cable, Market Volume (Tons), 2022-2033F
          2. Negative Tether Cable, Market Volume (Tons), 2022-2033F
          3. Heavy Tether Cable, Market Volume (Tons), 2022-2033F
      2. By Application
        1. Observation Vehicle, Market Volume (Tons), 2022-2033F
        2. Work Class Vehicles, Market Volume (Tons), 2022-2033F
        3. Prototype or Development Vehicles, Market Volume (Tons), 2022-2033F
        4. Towed & Bottom Crawling Vehicle, Market Volume (Tons), 2022-2033F
        5. Others, Market Volume (Tons), 2022-2033F
  21. UK Umbilical and Tether Cable Market for Remotely Operated Vehicles
    1. Market Overview
    2. By Market Volume (Tons)
    3. UK Umbilical and Tether Cable Market for Remotely Operated Vehicles Segmentation Analysis 2022-2033
      1. By Cable Type
        1. Umbilical Cable, Market Volume (Tons), 2022-2033F
          1. Steel Tube Umbilical, Market Volume (Tons), 2022-2033F
          2. Thermoplastic Hose Umbilical, 2022-2033F (Tons)
          3. Power and Communication System umbilical, Market Volume (Tons), 2022-2033F
          4. Hybrid Umbilical, Market Volume (Tons), 2022-2033F
        2. Tether Cable, Market Volume (Tons),2022-2033F 
          1. Neutrally Buoyant Tether Cable, Market Volume (Tons), 2022-2033F
          2. Negative Tether Cable, Market Volume (Tons), 2022-2033F
          3. Heavy Tether Cable, Market Volume (Tons), 2022-2033F
      2. By Application
        1. Observation Vehicle, Market Volume (Tons), 2022-2033F
        2. Work Class Vehicles, Market Volume (Tons), 2022-2033F
        3. Prototype or Development Vehicles, Market Volume (Tons), 2022-2033F
        4. Towed & Bottom Crawling Vehicle, Market Volume (Tons), 2022-2033F
        5. Others, Market Volume (Tons), 2022-2033F
  22. Germany Umbilical and Tether Cable Market for Remotely Operated Vehicles
    1. Market Overview
    2. By Market Volume (Tons)
    3. Germany Umbilical and Tether Cable Market for Remotely Operated Vehicles Segmentation Analysis 2022-2033
      1. By Cable Type
      2. By Application
  23. Italy Umbilical and Tether Cable Market for Remotely Operated Vehicles
    1. Market Overview
    2. By Market Volume (Tons)
    3. Italy Umbilical and Tether Cable Market for Remotely Operated Vehicles Segmentation Analysis 2022-2033
      1. By Cable Type
      2. By Application
  24. France Umbilical and Tether Cable Market for Remotely Operated Vehicles
    1. Market Overview
    2. By Market Volume (Tons)
    3. France Umbilical and Tether Cable Market for Remotely Operated Vehicles Segmentation Analysis 2022-2033
      1. By Cable Type
      2. By Application
  25. Spain Umbilical and Tether Cable Market for Remotely Operated Vehicles
    1. Market Overview
    2. By Market Volume (Tons)
    3. Spain Umbilical and Tether Cable Market for Remotely Operated Vehicles Segmentation Analysis 2022-2033
      1. By Cable Type
      2. By Application
  26. Russia Umbilical and Tether Cable Market for Remotely Operated Vehicles
    1. Market Overview
    2. By Market Volume (Tons)
    3. Russia Umbilical and Tether Cable Market for Remotely Operated Vehicles Segmentation Analysis 2022-2033
      1. By Cable Type
      2. By Application
  27. Netherlands Umbilical and Tether Cable Market for Remotely Operated Vehicles
    1. Market Overview
    2. By Market Volume (Tons)
    3. Netherlands Umbilical and Tether Cable Market for Remotely Operated Vehicles Segmentation Analysis 2022-2033
      1. By Cable Type
      2. By Application
  28. Rest of Europe Umbilical and Tether Cable Market for Remotely Operated Vehicles
    1. Market Overview
    2. By Market Volume (Tons)
    3. Rest of Europe Umbilical and Tether Cable Market for Remotely Operated Vehicles Segmentation Analysis 2022-2033
      1. By Cable Type

Global Market Size, Forecast, and Trend Highlights Over 2023-2033

Europe Umbilical Tether Cable Market for ROV is estimated to generate a volume of 7,612.1 Tons by the end of 2033, by growing at a CAGR of 4.41% over the forecast period, i.e., 2023-2033. Further, the market produced a volume of 4,745.2 Tons in the year 2022. The growth of the market can be attributed to the increasing number of oil reserves under the sea. ROV help in locating better oil reserves in the sub-sea and it even allows better utilization of these reservoirs. In addition to this, the use of remotely piloted submarines has substantially facilitated the recording of data in hostile environments.  Norway has eight of Europe's largest offshore oil and gas fields. Moreover, the Troll oil and gas field, which lies in Norway's portion of the North Sea, has an estimated 5.18 billion barrels of oil-equivalent capacity.

In addition to these, factors that are believed to fuel the market growth of Europe umbilical tether cable market for ROV include rising expenditure on wind farms for boosting its capacity. An increase in the new capacity setup leads to higher demand for ROV, as they are highly used for inspecting and monitoring offshore wind farms. For instance, in 2021, Europe spent USD 45 billion on new wind farms to finance the new capacity worth 24.6 GW.


Europe-Umbilical-Tether-Cable-Market
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Europe Umbilical Tether Cable Market: Key Insights

Base Year

2022

Forecast Year

2023-2033

CAGR

4.41%

Base Year Market Volume (2022)

4,745.2 Tons

Forecast Year Market Volume (2033)

7,612.1 Tons

Regional Scope

  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
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Europe Umbilical Tether Cable Sector: Growth Drivers and Challenges

Market-Growth-Drivers

Growth Drivers

  • Higher Oil and Gas Production – ROV expanded the oil and gas resources in the deep sea. It simplifies the operation in deeper water, by allowing divers to reach extreme depths. Therefore, Italy had the greatest production of oil and petroleum in the European Union around 6 million metric tons. Additionally, Denmark backed the second position by producing nearly 4 million tonnes of oil and petrol.

  • Rise in the Number of Offshore Wind Farms – With the help of ROV, the installation of an inspection of offshore wind farms becomes easier. The United Kingdom runs 40 offshore wind farms with grid-connected turbines. 2,294 wind turbines make up the 40 wind farms.

  • Growing Aquaculture Industry – Turkey has topped the list of nations in the European Union for the past three years with an annual aquaculture production of 800,000 tonnes. Additionally, 239,000 tonnes of aquaculture goods were exported last year for almost $1.4 billion.

  • Technological Improvements in ROVs– QYSEA Technology have introduced an AI-based vision platform that enables its FIFISH Underwater Robots to reach precise underwater active visual locking capabilities.

  • Rising Investment in Oil and Gas Sector– In order to protect consumers from the escalating cost of energy, USD 750 billion has been budgeted and set aside across European nations since the energy crisis began in September 2021.

Challenges

  • Growing popularity of AUVs - European-made AUVs (autonomous underwater vehicles) are increasingly essential equipment in the global offshore industry. The market's expansion is impacted by the increasing use of AUVs throughout Europe. AUV performs the job very similarly to ROV. However, AUV does not require umbilical tether cables, therefore declining the demand for umbilical tether cables.
  • Occurrence of technical issues while deploying ROVs into the sea
  • Higher cost of ROV submarines


Europe Umbilical Tether Cable Segmentation

The Europe umbilical tether cable market for ROV is segmented and analyzed for demand and supply by cable type into umbilical cable, and tether cable. Out of the two types of cables, the umbilical cable segment is estimated to produce the largest volume by the end of 2033, by growing at a CAGR of 4.42% over the projected time frame. The growth of the segment can be attributed to the increased effort by the private sector to propel the production of umbilical tether cables. For instance, Nexans SA signed a 2-year deal to contribute to boosting the umbilical production in the Vigdis North Sea oil field. Through this deal, the entire umbilical system worth about USD 10 million will be designed, created, and tested at the Nexans Norway facility in Halden, Norway. The system was installed in the summer of 2020.

The Europe umbilical tether cable market for ROV is also segmented and analyzed for demand and supply by application into observation vehicle, work class vehicles, prototype or development vehicles, towed & bottom crawling vehicle, and others. Amongst all the segments, the observation vehicle segment is expected to hold the second largest market share and further attain a volume of 2,560.2 Tons by the end of 2033 by growing at a CAGR of 4.44% over the forecast period. Moreover, in 2022, the segment generated a volume of 1590.7 tons. The segment growth is attributed to rising investment in the development of rail infrastructure and the rising need to expand the rail network in Europe. The European Commission approved 135 transport infrastructures for the grants of around USD 57 billion provided by Brussels in the year 2022.  This fund is likely to develop the TEN-T network and other facilities. Furthermore, by 2040, additional high-speed rail connections for the Trans-European Transport Network (TEN-T) would be created, reducing travel times for routes like Budapest to Bucharest, Vigo to Porto, and Hamburg to Copenhagen.

Our in-depth analysis of the global market includes the following segments:

        By Cable Type

  • Umbilical Cable
    • Steel Tube Umbilical
    • Thermoplastic Hose Umbilical
    • Power and Communication System Umbilical
    • Hybrid Umbilical
  • Tether Cable
    • Neutrally Buoyant Tether Cable
    • Negative Tether Cable
    • Heavy Tether Cable

        By Application

  • Observation Vehicle
  • Work class Vehicles
  • Prototype or Development Vehicles
  • Towed & Bottom Crawling Vehicle
  • Others

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Europe Umbilical Tether Cable Industry - Regional Synopsis

In the Europe umbilical tether cable market for ROV, the market in the United Kingdom amongst the market in all the other regions is projected to hold the largest market share of 2,182.4 tons by the end of 2033. Moreover, in 2022, the United Kingdom’s market share volume was 1,387 tons. The growth of the market can be attributed majorly to the higher production from offshore oil and gas reserves. For instance, in the United Kingdom, there could be another 20 billion barrels of oil offshore. Moreover, nearly 46 billion barrels of oil equivalent (boe) from the UK and UK Continental Shelf (UKCS) were recovered by the year 2020. Furthermore, market growth in the region is expected on the account of growing practices of aquaculture.  Aquaculture has developed over the past 40 years to become a significant part of the UK seafood industry, contributing more than USD 600 million to the country's GDP through output.

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Companies Dominating the Europe Umbilical Tether Cable Landscape

top-features-companies
    • TE Connectivity
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Nexans S.A
    • TechnipFMC plc
    • Oceaneering International, Inc.
    • Fibron
    • Novacavi srl
    • Habia Cable
    • Amokabel UK Ltd.
    • Elmeridge Cables Limited
    • Cable Solutions Worldwide Limited

In-the-news

In The News

  • Nexans SA announced the acquisition of Reka Cables by signing a shared purchase agreement with Reka Industrial Plc. The acquisition is finalized at an equity price of USD 56 million. The completion of this agreement is to be achieved in the first half of 2023. With the help of Reka Industrial Plc, Nexam is to serve its customers with high-quality cables in Norway.

  •  Habia Cable announced to sell the company to HEW-KABEL Holding GmbH. The ownership transfer was completed by the thirs quarter of 2022.


Author Credits:  Abhishek Verma, Hetal Singh


  • Report ID: 4598
  • Published Date: Jan 26, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Increasing production of the oil and gas industry and aquaculture, higher investment in the energy sector, increasing offshore wind farms, and technological advancement of ROVs are the few factors that are likely to boost market growth.

The market is anticipated to attain a CAGR of 4.41% over the forecast period, i.e., 2023-2033.

Rising use of AUVs, the expensive deployment cost of ROVs, and technical issues in ROVs are estimated to be the growth hindering factors for the market expansion.

The market in the United Kingdom region is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

The major players in the market are Nexans S.A, TechnipFMC plc, Oceaneering International, Inc., Fibron, Novacavi srl, Habia Cable, Amokabel UK Ltd., Elmeridge Cables Limited, Cable Solutions, and TE Connectivity

The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by cable type, application, and by region.

The umbilical cable segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.
Europe Umbilical Tether Cable Market Report Scope
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