The global submarine cables market is estimated to expand from US$ 3 Billion in 2022 to US$ 4.38 Billion by 2030. From 2022 to 2030, the demand for undersea cables is expected to grow at a CAGR of 4.8%. In 2021, the market for cables worldwide saw a 1% share of usage of submarine cables.
The need for undersea power cables has increased due to the emphasis placed on the transition to green energy and climate change globally. Submarine power transmission is used by wind, wave, and tidal energy sources to deliver renewable energy to networks for commercial and residential distribution.
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Submarine power cables are also used by electricity network providers to connect power systems in several nations. These reasons have led to an increase in demand for the market for submarine cables.
The Submarine Cables Market refers to the market for the installation, maintenance, and repair of submarine cables that are used for telecommunication, data transmission, and power transmission purposes. Submarine cables are fiber-optic cables that are laid on the seabed between continents and countries, enabling high-speed data transmission and communication between different regions.
The market is driven by the increasing demand for high-speed and reliable data transmission across the globe, the growing demand for internet and cloud-based services, and the increasing adoption of renewable energy sources such as offshore wind farms. The submarine cables market is also driven by the increasing investment by governments and telecommunication companies in laying new submarine cables to improve connectivity and expand their network coverage.
The market includes a range of products and services such as cable installation, maintenance, and repair, as well as submarine cable equipment such as repeaters, amplifiers, and branching units. The market is also segmented by type of cable, including fiber-optic cables and power cables.
The submarine cables market is expected to continue to grow in the coming years, driven by the increasing demand for high-speed and reliable data transmission and the expansion of telecommunication networks to remote areas.
Competitive Landscape:
Key manufacturers of submarine cables are increasing their production capacities to meet growing demand from commercial customers. Submarine cable providers are focused on offering advanced products and services in the submarine cables market.
For instance,
- In June 2020, Corning Incorporated announced that Innolux Corporation is using its large platform cutting tool and complete automation system for its high-end auto display panel manufacturing.
Leading Key Players:
- ABB
- Alcatel Submarine Networks
- Corning Incorporated
- Huawei Marine Networks Co., Limited
- Hydro Group plc
- JDR Cable Systems Ltd.
- J-Power Systems Corporation
- NEC Corporation
- Nexans S.A.
- NKT Cables Group GmbH
- TE Connectivity Corporation
- Prysmian Group
- ZTT
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Submarine Cables Market Segmentation:
By Solution:
- Product
- Electrical Cables
- MVAC
- HVAC
- HVDC
- Fiber Optic Cables
- Loose Tube Type
- Tight Buffered Type
- Metal Tube Type
- Hybrid/Composite Cables
- Umbilical Cables
- Electrical Cables
- Service
- Consultation and Advisory Services
- Commissioning and Deployment Services
- Maintenance and Testing Services
- Upgrade Services
By Filling Type:
- Oil/Fluid Filled Cables
- Solid Filled Cables
By End Use:
- Oil and Gas
- Renewable Energy
- Telecommunications
- Defense
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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