Product Code: TIPRE00006137
The Underwater Connector Market is expected to grow from US$ 1665.93 million in 2022 to US$ 2353.43 million by 2028; it is estimated to grow at a CAGR of 5.9% from 2022 to 2028.
The underwater connector market is primarily driven by increasing global oil and gas exploration activities. Energy demand is rising with the constant economic growth of countries such as the US and China. For instance, according to the US Bureau of Economic Analysis, the US's gross domestic product (GDP) increased by 3.5% in the first quarter of 2022. Likewise, as per the National Bureau of Statistics of China, the Chinese economy expanded by 4.8% year-on-year (Y-O-Y) in Q1 of 2022. Companies are conducting oil and gas exploration activities in several countries to close the gap between demand and supply. For instance, on June 05, 2022, Great Eastern Energy Corporation Ltd, a pioneer in India's coal bed methane industry, announced its US$ 2 billion (in shale gas exploration at its Raniganj South block in West Bengal. Further, on May 26, 2022, Aramco, a leading oil company in Saudi Arabia, pledged to increase investments by around 50% in 2022 as it reported a doubling in 2021 profits. In addition, due to the pressure from the West to increase output amid soaring prices, the country's oil export reached US$ 30 billion. In March 2022, Cairn Oil & Gas, a subsidiary of Vedanta Ltd., announced its investment of US$ 4 billion over the next three years to triple its production. Owing to the high prices of fuels, the company plans to drill more wells in 51 blocks in India to look for new oil and gas reserves. These investments by the oil and gas companies are accelerating the growth of the underwater connector market.
The growth of the North America underwater connector market is attributed to the increasing defense budget curtaining to naval forces. In addition, the telecommunication industry in North America are significantly investing in the deployment of 5G for strong network connections. In North America, the US spends massive capital on enhancing its defense. For instance, in April 2022, the US government approved US$ 29 billion for the defense sector in the US for the fiscal year 2022, a massive increase in the defense budget. This has created lucrative opportunities for key players operating in the underwater connection market. Further, the country leads in the adoption of technologies. Birns Aquamate LLC; BIRNS, Inc.; Marshall Underwater Industries, Inc.; and Teledyne Marine are among the key underwater connector companies operating in North America. The dispersion of upgrade contracts to enhance the capabilities of the defense naval fleet has a significant impact on the underwater connector market.
COVID-19 Pandemic Impact on Underwater Connector Market Players
The COVID-19 pandemic negatively influenced the global underwater connector market due to considerable disruption in the supply chain activities and several countries sealing off their international trade. Due to the pandemic, end users across industries faced revenue loss in 2020. The only end user that supported the underwater connector market growth during the pandemic was the military and defense. The decline in demand across various industries such as oil & gas and telecommunications, negatively impacted the demand for underwater connectors, thereby, impacting the growth of the underwater connector market negatively.
Canada's growing industrialization and surging population propel the demand for oil and gas, telecommunication, and oceanography in the region. Today, the Canadian population uses as much telecommunication in a single day as it did a year ago because of its various benefits. For instance, in September 2020 Telus and the Canadian government have committed CAD 15 million to the installation of an undersea fiber-optic connection between Sept-Iles and the Gaspesie region. This connection will increase the dependability and security of telecommunication services on the North Shore, as well as redundancy. The submarine cable is expected to be completed by 2023, according to Telus and the government. Further, the GSP group has signed an offshore drilling service deal with Canada-based Company Trillion Energy International for the South Akcakoca Sub-Basin (SASB) gas field drilling program from 2022 to 2023. Therefore, the market for the underwater connector is rising in the country due to the growing implementation of the fiber optic cable in the submarine which is driving the underwater connector market. Additionally, Canada imports crude oil despite producing more crude oil than its refineries can handle. Because of the refineries' locations and the type of crude oil produced in Canada, the country is forced to import a considerable volume of crude oil, as a result, the country is expanding its refinery process and is providing a platform for connector producers as the cable is installed in the ocean, leading in market expansion. Thus, the above-mentioned fact is driving the underwater connector market growth.
A few underwater connector market players operating in the global market profiled in this market study include TE Connectivity, Glenair, Marshall Underwater Industries Inc, Hydro Group, and Fishcher Connector Inc.
The overall underwater connector market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the underwater connector market. The process also serves the purpose of obtaining an overview and forecast of the underwater connector market size with respect to all market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights. The participants typically involved in this process include VPs, business development managers, market intelligence managers, national sales managers, and external consultants-such as valuation experts, research analysts, and key opinion leaders-specializing in the underwater connector market.
Reasons to Buy:
Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global underwater connector market
Highlights key business priorities in order to assist companies to realign their business strategies
The key findings and recommendations highlight crucial progressive industry trends in the global underwater connector market, thereby allowing players across the value chain to develop effective long-term strategies
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
Table Of Contents
1. Introduction
- 1.1 Study Scope
- 1.2 The Insight Partners Research Report Guidance
- 1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
- 3.1 Coverage
- 3.2 Secondary Research
- 3.3 Primary Research
4. Underwater Connector Market Landscape
- 4.1 Market Overview
- 4.2 PEST Analysis
- 4.2.1 North America - PEST Analysis
- 4.2.2 Europe - PEST Analysis
- 4.2.3 Asia-Pacific - PEST Analysis
- 4.2.4 Middle East and Africa - PEST Analysis
- 4.2.5 South America - PEST Analysis
- 4.3 Ecosystem Analysis
- 4.4 Expert Opinion
5. Underwater Connector Market - Key Market Dynamics
- 5.1 Market Drivers
- 5.1.1 Surge in Oil & Gas Usage Across the Globe
- 5.1.2 Advanced Subsea System for Commercial and Military Applications
- 5.2 Market Restraints
- 5.2.1 Stringent Environmental Regulations
- 5.3 Market Opportunities
- 5.3.1 Growing Investment in New Technologies
- 5.4 Trends
- 5.4.1 Surge in Demand for Bandwidth Due to Emergence of 5G
- 5.5 Impact Analysis of Drivers and Restraints
6. Underwater Connector Market - Global Market Analysis
- 6.1 Underwater Connector Market Overview
- 6.2 Underwater Connector Market Forecast and Analysis
- 6.3 Market Positioning - Global Key Players
7. Underwater Connector Market Analysis - By Type
- 7.1 Overview
- 7.2 Underwater Connector Market, by Type (2021 and 2028)
- 7.3 Rubber-Molded
- 7.3.1 Overview
- 7.3.2 Rubber-Molded: Underwater Connector Market - Revenue and Forecast to 2028 (US$ Million)
- 7.4 Inductive Coupling
- 7.4.1 Overview
- 7.4.2 Inductive Coupling: Underwater Connector Market - Revenue and Forecast to 2028 (US$ Million)
- 7.5 Fluid-Filled Underwater Mateable Connector
- 7.5.1 Overview
- 7.5.2 Fluid-Filled Underwater Mateable Connector: Underwater Connector Market - Revenue and Forecast to 2028 (US$ Million)
- 7.6 Rigid-Shell/Bulk Headed
- 7.6.1 Overview
- 7.6.2 Rigid-Shell/Bulk Headed: Underwater Connector Market - Revenue and Forecast to 2028 (US$ Million)
8. Underwater Connector Market - By Connection
- 8.1 Overview
- 8.2 Underwater Connector Market, by Connection (2021 and 2028)
- 8.3 Electrical
- 8.3.1 Overview
- 8.3.2 Electrical: Underwater Connector Market - Revenue and Forecast to 2028 (US$ Million)
- 8.4 Optical Fiber
- 8.4.1 Overview
- 8.4.2 Optical Fiber: Underwater Connector Market - Revenue and Forecast to 2028 (US$ Million)
- 8.5 Hybrid
- 8.5.1 Overview
- 8.5.2 Hybrid: Underwater Connector Market - Revenue and Forecast to 2028 (US$ Million)
9. Underwater Connector Market - By Application
- 9.1 Overview
- 9.2 Underwater Connector Market, by Application (2021 and 2028)
- 9.3 Military & Defense
- 9.3.1 Overview
- 9.3.2 Military & Defense: Underwater Connector Market - Revenue and Forecast to 2028 (US$ Million)
- 9.4 Oil & Gas
- 9.4.1 Overview
- 9.4.2 Oil & Gas: Underwater Connector Market - Revenue and Forecast to 2028 (US$ Million)
- 9.5 Telecommunications
- 9.5.1 Overview
- 9.5.2 Telecommunications: Underwater Connector Market - Revenue and Forecast to 2028 (US$ Million)
- 9.6 Oceanography
- 9.6.1 Overview
- 9.6.2 Oceanography: Underwater Connector Market - Revenue and Forecast to 2028 (US$ Million)
- 9.7 ROVs/AUVs
- 9.7.1 Overview
- 9.7.2 ROVs/AUVs: Underwater Connector Market - Revenue and Forecast to 2028 (US$ Million)
- 9.8 Others
- 9.8.1 Overview
- 9.8.2 Others: Underwater Connector Market - Revenue and Forecast to 2028 (US$ Million)
10. Underwater Connector Market - Geographic Analysis
- 10.1 Overview
- 10.2 North America: Underwater Connector Market
- 10.2.1 North America: Underwater Connector Market - Revenue and Forecast to 2028 (US$ Million)
- 10.2.2 North America: Underwater Connector Market, by Type
- 10.2.3 North America: Underwater Connector Market, by Connection
- 10.2.4 North America: Underwater Connector Market, by Application
- 10.2.5 North America: Underwater Connector Market, by Key Country
- 10.2.5.1 US: Underwater Connector Market - Revenue and Forecast to 2028 (US$ Million)
- 10.2.5.1.1 US: Underwater Connector Market, by Type
- 10.2.5.1.2 US: Underwater Connector Market, by Connection
- 10.2.5.1.3 US: Underwater Connector Market, by Application
- 10.2.5.2 Canada: Underwater Connector Market - Revenue and Forecast to 2028 (US$ Million)
- 10.2.5.2.1 Canada: Underwater Connector Market, by Type
- 10.2.5.2.2 Canada: Underwater Connector Market, by Connection
- 10.2.5.2.3 Canada: Underwater Connector Market, by Application
- 10.2.5.3 Mexico: Underwater Connector Market - Revenue and Forecast to 2028 (US$ Million)
- 10.2.5.3.1 Mexico: Underwater Connector Market, by Type
- 10.2.5.3.2 Mexico: Underwater Connector Market, by Connection
- 10.2.5.3.3 Mexico: Underwater Connector Market, by Application
- 10.3 Europe: Underwater Connector Market
- 10.3.1 Europe: Underwater Connector Market - Revenue and Forecast to 2028 (US$ Million)
- 10.3.2 Europe: Underwater Connector Market, by Type
- 10.3.3 Europe: Underwater Connector Market, by Connection
- 10.3.4 Europe: Underwater Connector Market, by Application
- 10.3.5 Europe: Underwater Connector Market, by Key Country
- 10.3.5.1 Germany: Underwater Connector Market - Revenue and Forecast to 2028 (US$ Million)
- 10.3.5.1.1 Germany: Underwater Connector Market, by Type
- 10.3.5.1.2 Germany: Underwater Connector Market, by Connection
- 10.3.5.1.3 Germany: Underwater Connector Market, by Application
- 10.3.5.2 France: Underwater Connector Market - Revenue and Forecast to 2028 (US$ Million)
- 10.3.5.2.1 France: Underwater Connector Market, by Type
- 10.3.5.2.2 France: Underwater Connector Market, by Connection
- 10.3.5.2.3 France: Underwater Connector Market, by Application
- 10.3.5.3 Italy: Underwater Connector Market - Revenue and Forecast to 2028 (US$ Million)
- 10.3.5.3.1 Italy: Underwater Connector Market, by Type
- 10.3.5.3.2 Italy: Underwater Connector Market, by Connection
- 10.3.5.3.3 Italy: Underwater Connector Market, by Application
- 10.3.5.4 UK: Underwater Connector Market - Revenue and Forecast to 2028 (US$ Million)
- 10.3.5.4.1 UK: Underwater Connector Market, by Type
- 10.3.5.4.2 UK: Underwater Connector Market, by Connection
- 10.3.5.4.3 UK: Underwater Connector Market, by Application
- 10.3.5.5 Russia: Underwater Connector Market - Revenue and Forecast to 2028 (US$ Million)
- 10.3.5.5.1 Russia: Underwater Connector Market, by Type
- 10.3.5.5.2 Russia: Underwater Connector Market, by Connection
- 10.3.5.5.3 Russia: Underwater Connector Market, by Application
- 10.3.5.6 Rest of Europe: Underwater Connector Market - Revenue and Forecast to 2028 (US$ Million)
- 10.3.5.6.1 Rest of Europe: Underwater Connector Market, by Type
- 10.3.5.6.2 Rest of Europe: Underwater Connector Market, by Connection
- 10.3.5.6.3 Rest of Europe: Underwater Connector Market, by Application
- 10.4 Asia Pacific: Underwater Connector Market
- 10.4.1 APAC: Underwater Connector Market - Revenue and Forecast to 2028 (US$ Million)
- 10.4.2 APAC: Underwater Connector Market, by Type
- 10.4.3 APAC: Underwater Connector Market, by Connection
- 10.4.4 APAC: Underwater Connector Market, by Application
- 10.4.5 APAC: Underwater Connector Market, by Key Country
- 10.4.5.1 Australia: Underwater Connector Market - Revenue and Forecast to 2028 (US$ Million)
- 10.4.5.1.1 Australia: Underwater Connector Market, by Type
- 10.4.5.1.2 Australia: Underwater Connector Market, by Connection
- 10.4.5.1.3 Australia: Underwater Connector Market, by Application
- 10.4.5.2 China: Underwater Connector Market - Revenue and Forecast to 2028 (US$ Million)
- 10.4.5.2.1 China: Underwater Connector Market, by Type
- 10.4.5.2.2 China: Underwater Connector Market, by Connection
- 10.4.5.2.3 China: Underwater Connector Market, by Application
- 10.4.5.3 India: Underwater Connector Market - Revenue and Forecast to 2028 (US$ Million)
- 10.4.5.3.1 India: Underwater Connector Market, by Type
- 10.4.5.3.2 India: Underwater Connector Market, by Connection
- 10.4.5.3.3 India: Underwater Connector Market, by Application
- 10.4.5.4 Japan: Underwater Connector Market - Revenue and Forecast to 2028 (US$ Million)
- 10.4.5.4.1 Japan: Underwater Connector Market, by Type
- 10.4.5.4.2 Japan: Underwater Connector Market, by Connection
- 10.4.5.4.3 Japan: Underwater Connector Market, by Application
- 10.4.5.5 South Korea: Underwater Connector Market - Revenue and Forecast to 2028 (US$ Million)
- 10.4.5.5.1 South Korea: Underwater Connector Market, by Type
- 10.4.5.5.2 South Korea: Underwater Connector Market, by Connection
- 10.4.5.5.3 South Korea: Underwater Connector Market, by Application
- 10.4.5.6 Rest of APAC: Underwater Connector Market - Revenue and Forecast to 2028 (US$ Million)
- 10.4.5.6.1 Rest of APAC: Underwater Connector Market, by Type
- 10.4.5.6.2 Rest of APAC: Underwater Connector Market, by Connection
- 10.4.5.6.3 Rest of APAC: Underwater Connector Market, by Application
- 10.5 MEA: Underwater Connector Market
- 10.5.1 MEA: Underwater Connector Market - Revenue and Forecast to 2028 (US$ Million)
- 10.5.2 MEA: Underwater Connector Market, by Type
- 10.5.3 MEA: Underwater Connector Market, by Connection
- 10.5.4 MEA: Underwater Connector Market, by Application
- 10.5.5 MEA: Underwater Connector Market, by Key Country
- 10.5.5.1 South Africa: Underwater Connector Market - Revenue and Forecast to 2028 (US$ Million)
- 10.5.5.1.1 South Africa: Underwater Connector Market, by Type
- 10.5.5.1.2 South Africa: Underwater Connector Market, by Connection
- 10.5.5.1.3 South Africa: Underwater Connector Market, by Application
- 10.5.5.2 Saudi Arabia: Underwater Connector Market - Revenue and Forecast to 2028 (US$ Million)
- 10.5.5.2.1 Saudi Arabia: Underwater Connector Market, by Type
- 10.5.5.2.2 Saudi Arabia: Underwater Connector Market, by Connection
- 10.5.5.2.3 Saudi Arabia: Underwater Connector Market, by Application
- 10.5.5.3 UAE: Underwater Connector Market - Revenue and Forecast to 2028 (US$ Million)
- 10.5.5.3.1 UAE: Underwater Connector Market, by Type
- 10.5.5.3.2 UAE: Underwater Connector Market, by Connection
- 10.5.5.3.3 UAE: Underwater Connector Market, by Application
- 10.5.5.4 Rest of MEA: Underwater Connector Market - Revenue and Forecast to 2028 (US$ Million)
- 10.5.5.4.1 Rest of MEA: Underwater Connector Market, by Type
- 10.5.5.4.2 Rest of MEA: Underwater Connector Market, by Connection
- 10.5.5.4.3 Rest of MEA: Underwater Connector Market, by Application
- 10.6 SAM: Underwater Connector Market
- 10.6.1 SAM: Underwater Connector Market - Revenue and Forecast to 2028 (US$ Million)
- 10.6.2 SAM: Underwater Connector Market, by Type
- 10.6.3 SAM: Underwater Connector Market, by Connection
- 10.6.4 SAM: Underwater Connector Market, by Application
- 10.6.5 SAM: Underwater Connector Market, by Key Country
- 10.6.5.1 Brazil: Underwater Connector Market - Revenue and Forecast to 2028 (US$ Million)
- 10.6.5.1.1 Brazil: Underwater Connector Market, by Type
- 10.6.5.1.2 Brazil: Underwater Connector Market, by Connection
- 10.6.5.1.3 Brazil: Underwater Connector Market, by Application
- 10.6.5.2 Argentina: Underwater Connector Market - Revenue and Forecast to 2028 (US$ Million)
- 10.6.5.2.1 Argentina: Underwater Connector Market, by Type
- 10.6.5.2.2 Argentina: Underwater Connector Market, by Connection
- 10.6.5.2.3 Argentina: Underwater Connector Market, by Application
- 10.6.5.3 Rest of SAM: Underwater Connector Market - Revenue and Forecast to 2028 (US$ Million)
- 10.6.5.3.1 Rest of SAM: Underwater Connector Market, by Type
- 10.6.5.3.2 Rest of SAM: Underwater Connector Market, by Connection
- 10.6.5.3.3 Rest of SAM: Underwater Connector Market, by Application
11. Impact of COVID-19 Pandemic on Global Underwater Connector Market
- 11.1 Overview
- 11.2 North America: Impact Assessment of COVID-19 Pandemic
- 11.3 Europe: Impact Assessment of COVID-19 Pandemic
- 11.4 APAC: Impact Assessment of COVID-19 Pandemic
- 11.5 MEA: Impact Assessment of COVID-19 Pandemic
- 11.6 South & Central America Impact Assessment of COVID-19 Pandemic
12. Industry Landscape
- 12.1 Overview
- 12.2 Market Initiative
- 12.3 New Product Development
13. Company Profiles
- 13.1 BIRNS Aquamate LLC
- 13.1.1 Key Facts
- 13.1.2 Business Description
- 13.1.3 Products and Services
- 13.1.4 Financial Overview
- 13.1.5 SWOT Analysis
- 13.1.6 Key Developments
- 13.2 BIRNS, Inc.
- 13.2.1 Key Facts
- 13.2.2 Business Description
- 13.2.3 Products and Services
- 13.2.4 Financial Overview
- 13.2.5 SWOT Analysis
- 13.2.6 Key Developments
- 13.3 Glenair, Inc.
- 13.3.1 Key Facts
- 13.3.2 Business Description
- 13.3.3 Products and Services
- 13.3.4 Financial Overview
- 13.3.5 SWOT Analysis
- 13.3.6 Key Developments
- 13.4 Fischer Connectors SA
- 13.4.1 Key Facts
- 13.4.2 Business Description
- 13.4.3 Products and Services
- 13.4.4 Financial Overview
- 13.4.5 SWOT Analysis
- 13.4.6 Key Developments
- 13.5 GISMA Steckverbinder GmbH
- 13.5.1 Key Facts
- 13.5.2 Business Description
- 13.5.3 Products and Services
- 13.5.4 Financial Overview
- 13.5.5 SWOT Analysis
- 13.5.6 Key Developments
- 13.6 Hydro Group
- 13.6.1 Key Facts
- 13.6.2 Business Description
- 13.6.3 Products and Services
- 13.6.4 Financial Overview
- 13.6.5 SWOT Analysis
- 13.6.6 Key Developments
- 13.7 Marshall Underwater Industries, Inc.
- 13.7.1 Key Facts
- 13.7.2 Business Description
- 13.7.3 Products and Services
- 13.7.4 Financial Overview
- 13.7.5 SWOT Analysis
- 13.7.6 Key Developments
- 13.8 TE Connectivity Corporation
- 13.8.1 Key Facts
- 13.8.2 Business Description
- 13.8.3 Products and Services
- 13.8.4 Financial Overview
- 13.8.5 SWOT Analysis
- 13.8.6 Key Developments
- 13.9 Teledyne Marine
- 13.9.1 Key Facts
- 13.9.2 Business Description
- 13.9.3 Products and Services
- 13.9.4 Financial Overview
- 13.9.5 SWOT Analysis
- 13.9.6 Key Developments
- 13.10 AK Industries
- 13.10.1 Key Facts
- 13.10.2 Business Description
- 13.10.3 Products and Services
- 13.10.4 Financial Overview
- 13.10.5 SWOT Analysis
- 13.10.6 Key Developments
14. Appendix
- 14.1 About The Insight Partners
- 14.2 Word Index