Submarine Cables Market
Submarine Cables Market Size, Share & Trends Analysis Report, By Component (Dry Plant Products and Wet Plant Products), By Voltage (Medium Voltage, High Voltage, and Extra High Voltage), By Application (Submarine Power Cables and Submarine Communication Cables), By End-User (Offshore Wind Power Generation, Inter-Country & Island Connection, and Offshore Oil & Gas), Forecast Period (2022-2028)
Submarine cables market is anticipated to grow at a CAGR of 5.5% during the forecast period. The increasing internet penetration and collaboration among tier-1 vendors, growing demand for bandwidth owing to the emergence of 5G, and increasing network of submarine power cable systems are some key factors driving the growth of the global submarine cables market. Moreover, increasing investments by content delivery and streaming partners to create abundant opportunities in the pacific region is further accelerating the market growth. According to the Fiber Broadband Association, International data usage is expected to expand by 30.0-40.0% CAGR from 2020-2026, driven by factors such as the growth of 5G mobile data, and the need to share ever more content between data centers distributed across the globe.
To meet this demand, submarine networks are adopting space division multiplexing (SDM) technology, where the number of independent spatial channels is increased to maximize total system capacity, reduce power consumption and optimize cost per bit. Multicore fiber is now expected to further increase the number of parallel optical fiber cores without increasing the submarine cable size and structure, enabling the second generation of submarine SDM systems. The rising integration of SDM technology in submarine cables is anticipated to drive the growth of the global submarine cables market.
Impact of COVID-19 Pandemic on Global Submarine Cables Market
The COVID-19 pandemic has negatively impacted the global submarine cables market. The submarine power cable installation capacity witnessed a plunge in 2020 compared with the previous year, while the number of oil and gas rigs plunged by double digits. However, in 2021 and later, the market is expected to start recovering from the impact of COVID-19 and projects for renewable energy grids and communication networks would resume. Furthermore, governments are taking initiatives to rebuild the economy after the COVID-19 pandemic. Between Denmark and UK, a 760-kilometer cable is being installed beneath the water, which will supply 1.4 million UK homes with green electricity from Denmark. An increase in the laying of submarine cables in Saudi Arabia will drive the adoption of the product over time.
Segmental Outlook
The global submarine cables market is segmented by component, voltage, application, and end-user. The market segmentation based on the component includes dry plant products and wet plant products. Based on voltage outlook, the market is segmented into medium voltage, high voltage, and extra high voltage. Based on application, the market is segmented into submarine power cables and submarine communication cables. Based on end-user, the market is segmented into offshore wind power generation, inter-country & island connection, and offshore oil & gas. The dry plant products segment held a considerable share in the global submarine cable market. The cost-effectiveness and recent advancements in the dry plant, such as SDM cables with more fibers and capacity, aluminum conductors, smart cables: emergency alerts for earthquakes and tsunamis, repeater pump farming, and machine learning in submarine systems are key factors contributors to the high share of this market segment.
Regional Outlook
The global submarine cables market is further segmented based on geography including North America (the US and Canada), Europe (UK, Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East &Africa and Latin America). The market can be analyzed for a particular region or country level as per the requirement. North America submarine cables market is driven by the growing demand for digital services backed by submarine cable or data center infrastructure is a key contributor to the regional market growth.
Global Submarine Cables Market Growth, by Region 2022-2028
Asia-Pacific Holds Considerable Share in the Global Submarine Cables Market
In 2021, the Asia-Pacific region held a considerable share in the global submarine cables market. The efficient power transmission and distribution systems from renewable energy sources and the growth of offshore wind farms are some key factors driving the regional market growth. For instance, the Government of Japan constructed a floating wind farm 12 miles away from the seacoast and installed 140 floating wind turbines in 2020. The high demand for submarine cables has encouraged the manufacturers to actively participate in the installation & commissioning, upgrades, and maintenance of the submarine cables. For instance, in February 2020, The Europe India Gateway (EIG) submarine cable system was upgraded to fast-track and reinforced the connectivity amongst businesses in Europe, the Middle East, and India by Ciena Corp.
Market Players Outlook
The major companies serving the global submarine cables market include Alcatel-Lucent Enterprise, NEC Corp., NEXANS SA, and Prysmian Group, among others. The companies are focusing on product innovations, technology advancements, geographical expansions, mergers and acquisitions, and finding a new market or innovation in their core competency to expand individual market share. For instance, in October 2021, NEC Corp., its subsidiary OCC Corp. and Sumitomo Electric Industries, Ltd. announced that they have completed the first trial of uncoupled (*1) 4-core submarine fiber cable (*2), and verified its transmission performance to meet the exacting need of global telecommunications networks.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global submarine cables market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. Overview
3.1.2. Financial Analysis
3.1.3. SWOT Analysis
3.1.4. Recent Developments
3.2. Key Strategy Analysis
4. Market Segmentation
4.1. Global Submarine Cables Market, By Component
4.1.1. Dry Plant Products
4.1.2. Wet Plant Products
4.2. Global Submarine Cables Market, By Voltage
4.2.1. Medium Voltage
4.2.2. High Voltage
4.2.3. Extra High Voltage
4.3. Global Submarine Cables Market, By Application
4.3.1. Submarine Power Cables
4.3.2. Submarine Communication Cables
4.4. Global Submarine Cables Market, By End-User
4.4.1. Offshore Wind Power Generation
4.4.2. Inter-Country & Island Connection
4.4.3. Offshore Oil & Gas
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. 1X Technologies LLC
6.2. AFL
6.3. Alcatel-Lucent Enterprise
6.4. Apar Industries
6.5. Cablel Hellenic Cables Group
6.6. Corning Inc.
6.7. Hexatronic
6.8. JDR Cable Systems Ltd.
6.9. Jiangsu Hengtong Au Optronics Co.
6.10. NEC Corp.
6.11. NEXANS
6.12. NKT A/S
6.13. OCC Corp.
6.14. Prysmian Group
6.15. Saudi Ericsson
6.16. SubCom LLC
6.17. Sumitomo Electric Industries, Ltd.
6.18. TFKable
6.19. The Okonite Company
6.20. ZTT Ltd.
1. GLOBAL SUBMARINE CABLES MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2021-2028 ($ MILLION)
2. GLOBAL DRY PLANT PRODUCTS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
3. GLOBAL WET PLANT PRODUCTS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
4. GLOBAL SUBMARINE CABLES MARKET RESEARCH AND ANALYSIS BY VOLTAGE, 2021-2028 ($ MILLION)
5. GLOBAL MEDIUM VOLTAGE SUBMARINE CABLES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
6. GLOBAL HIGH VOLTAGE SUBMARINE CABLES MARKET RESEARCH, AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
7. GLOBAL EXTRA HIGH VOLTAGE SUBMARINE CABLES MARKET RESEARCH, AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
8. GLOBAL SUBMARINE CABLES MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
9. GLOBAL SUBMARINE POWER CABLES MARKET RESEARCH, AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
10. GLOBAL SUBMARINE COMMUNICATION CABLES MARKET RESEARCH, AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
11. GLOBAL SUBMARINE CABLES MARKET RESEARCH AND ANALYSIS BY END-USER, 2021-2028 ($ MILLION)
12. GLOBAL OFFSHORE WIND POWER GENERATION SUBMARINE CABLES MARKET RESEARCH, AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
13. GLOBAL INTER COUNTRY & ISLAND CONNECTION SUBMARINE CABLES MARKET RESEARCH, AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
14. GLOBAL OFFSHORE OIL & GAS SUBMARINE CABLES MARKET RESEARCH, AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
15. NORTH AMERICAN SUBMARINE CABLES MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
16. NORTH AMERICAN SUBMARINE CABLES MARKET RESEARCH AND ANALYSIS BY COMPONENT OUTLOOK, 2021-2028 ($ MILLION)
17. NORTH AMERICAN SMART SYRNGE MARKET RESEARCH AND ANALYSIS BY VOLTAGE, 2021-2028 ($ MILLION)
18. NORTH AMERICAN SMART SYRNGE MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
19. NORTH AMERICAN SMART SYRNGE MARKET RESEARCH AND ANALYSIS BY END-USER, 2021-2028 ($ MILLION)
20. EUROPEAN SUBMARINE CABLES MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
21. EUROPEAN SUBMARINE CABLES MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2021-2028 ($ MILLION)
22. EUROPEAN SUBMARINE CABLES MARKET RESEARCH AND ANALYSIS BY VOLTAGE, 2021-2028 ($ MILLION)
23. EUROPEAN SUBMARINE CABLES MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
24. EUROPEAN SUBMARINE CABLES MARKET RESEARCH AND ANALYSIS BY END-USER, 2021-2028 ($ MILLION)
25. ASIA-PACIFIC SUBMARINE CABLES MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
26. ASIA-PACIFIC SUBMARINE CABLES MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2021-2028 ($ MILLION)
27. ASIA-PACIFIC SUBMARINE CABLES MARKET RESEARCH AND ANALYSIS BY VOLTAGE, 2021-2028 ($ MILLION)
28. ASIA-PACIFIC SUBMARINE CABLES MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
29. ASIA-PACIFIC SUBMARINE CABLES MARKET RESEARCH AND ANALYSIS BY END-USER, 2021-2028 ($ MILLION)
30. REST OF THE WORLD SUBMARINE CABLES MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
31. REST OF THE WORLD SUBMARINE CABLES MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2021-2028 ($ MILLION)
32. REST OF THE WORLD SUBMARINE CABLES MARKET RESEARCH AND ANALYSIS BY VOLTAGE, 2021-2028 ($ MILLION)
33. REST OF THE WORLD SUBMARINE CABLES MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
34. REST OF THE WORLD SUBMARINE CABLES MARKET RESEARCH AND ANALYSIS BY END-USER, 2021-2028 ($ MILLION)
1. GLOBAL SUBMARINE CABLES MARKET SHARE BY COMPONENT, 2021 VS 2028 (%)
2. GLOBAL SUBMARINE CABLES MARKET SHARE BY VOLTAGE, 2021 VS 2028 (%)
3. GLOBAL SUBMARINE CABLES MARKET SHARE BY APPLICATION, 2021 VS 2028 (%)
4. GLOBAL SUBMARINE CABLES MARKET SHARE BY END-USER, 2021 VS 2028 (%)
5. GLOBAL SUBMARINE CABLES MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
6. GLOBAL DRY PLANT PRODUCTS MARKET SHARE BY REGION, 2021 VS 2028 (%)
7. GLOBAL WET PLANT PRODUCTS MARKET SHARE BY REGION, 2021 VS 2028 (%)
8. GLOBAL MEDIUM VOLTAGE SUBMARINE CABLES MARKET SHARE BY REGION, 2021 VS 2028 (%)
9. GLOBAL HIGH VOLTAGE SUBMARINE CABLES MARKET SHARE BY REGION, 2021 VS 2028 (%)
10. GLOBAL EXTRA HIGH VOLTAGE SUBMARINE CABLES MARKET SHARE BY REGION, 2021 VS 2028 (%)
11. GLOBAL SUBMARINE POWER CABLES MARKET SHARE BY REGION, 2021 VS 2028 (%)
12. GLOBAL SUBMARINE COMMUNICATION CABLES MARKET SHARE BY REGION, 2021 VS 2028 (%)
13. GLOBAL OFFSHORE WIND POWER GENERATION SUBMARINE CABLES MARKET SHARE BY REGION, 2021 VS 2028 (%)
14. GLOBAL INTER COUNTRY & ISLAND CONNECTION SUBMARINE CABLES MARKET SHARE BY REGION, 2021 VS 2028 (%)
15. GLOBAL OFFSHORE OIL & GAS SUBMARINE CABLES MARKET SHARE BY REGION, 2021 VS 2028 (%)
16. US SUBMARINE CABLES MARKET SIZE, 2021-2028 ($ MILLION)
17. CANADA SUBMARINE CABLES MARKET SIZE, 2021-2028 ($ MILLION)
18. UK SUBMARINE CABLES MARKET SIZE, 2021-2028 ($ MILLION)
19. FRANCE SUBMARINE CABLES MARKET SIZE, 2021-2028 ($ MILLION)
20. GERMANY SUBMARINE CABLES MARKET SIZE, 2021-2028 ($ MILLION)
21. ITALY SUBMARINE CABLES MARKET SIZE, 2021-2028 ($ MILLION)
22. SPAIN SUBMARINE CABLES MARKET SIZE, 2021-2028 ($ MILLION)
23. REST OF EUROPE SUBMARINE CABLES MARKET SIZE, 2021-2028 ($ MILLION)
24. INDIA SUBMARINE CABLES MARKET SIZE, 2021-2028 ($ MILLION)
25. CHINA SUBMARINE CABLES MARKET SIZE, 2021-2028 ($ MILLION)
26. JAPAN SUBMARINE CABLES MARKET SIZE, 2021-2028 ($ MILLION)
27. SOUTH KOREA SUBMARINE CABLES MARKET SIZE, 2021-2028 ($ MILLION)
28. REST OF ASIA-PACIFIC SUBMARINE CABLES MARKET SIZE, 2021-2028 ($ MILLION)
29. REST OF THE WORLD SUBMARINE CABLES MARKET SIZE, 2021-2028 ($ MILLION)
