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:
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By Cable Type |
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By Application |
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