Global Marine Trencher Market Overview:
At a construction site, trenchers are used to digging trenches, primarily for the installation of pipes and electrical cables on the ground. Marine trenchers are employed in a similar manner to dig a trench beneath the water. Typically, pipes and cables are installed underwater using these trenches. The market for marine trenchers may experience significant expansion due to the rising need for installing undersea wires and pipes.
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Vast Expansion of Network Infrastructure and Rising Demand for Expansion of Telecommunications Lines and Underwater Cables
Market Growth Drivers:
Increasing Demand in Offshore Oil and Gas Exploration Rigs and Various Multinational Companies Are Also Aiming At Establishing Their Own Network
High Rate of Replacement and Maintenance Owing To the Highly Corrosive Nature of Work Environments
High Equipment Costs, Substitute for Mechanical Marine Trenchers Is Cost-Effective and Is a Feasible Option, Rising Concerns Pertaining To Marine Life and Growing Awareness Regarding Advert Effects of Offshore Oil & Gas Exploration Activities on Sea and Stringent Regulations Regarding Offshore Exploration Activities
Increasing Demand for Installing Underwater Wires and Pipes
Global Marine Trencher is a fragmented market due to the presence of various players. The players are focusing on planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Some of the key players profiled in the report are Forum Energy Technologies (United States), Barth Hollanddrain B.V. (Netherlands), Global Marine (United Kingdom), Soil Machine Dynamics Ltd (United Kingdom), MIAH (United Kingdom), DeepOcean Group (Norway), Modus Ltd (United Kingdom), Van Oord (Netherlands), Jan de Nul (Belgium) and Royal IHC (Netherlands). Additionally, following companies can also be profiled that are part of our coverage like Seatools B.V. (Netherlands), Ecosse Subsea Systems (United Kingdom), Royal IHC (Netherlands), Osbit (United Kingdom), Saipem Sonsub (Norway) and SEA S.R.L. (Italy). Considering Market by End User, the sub-segment i.e. Tidal Energy will boost the Marine Trencher market. Considering Market by Technologies, the sub-segment i.e. Jet Trenching will boost the Marine Trencher market.
Latest Market Insights:
In January 2021, Anvil and Smith-Cooper International acquired the ABZ and Quadrant product families of Forum Energy Technologies Inc. for USD 105 million.
In September 2022, Jan De Nul Group finalized the installation of 47 jacket foundations and 188 pin piles, 4 export, and 47 inter-array cables for the construction of Formosa 2 Offshore Wind Farm in Taiwan. Both vessels also acted as trenching support vessels to bury the cables with a jet trencher in certain sections of the cable routes.
What Can be Explored with the Marine Trencher Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Marine Trencher Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Marine Trencher
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Marine Trencher market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Marine Trencher market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Marine Trencher Manufacturers, Regulatory Bodies, Potential Investors, Research and Development Institutes, End Users and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.