Product Code: GVR-4-68038-880-0
Submarine Cables Market Growth & Trends
The global submarine cables market size is expected to reach USD 44.33 billion by 2030, growing at 5.9% CAGR from 2023 to 2030, according to a new report by Grand View Research, Inc. Increasing investments in offshore wind farms, inter-country & island connections for improved power supply and communication, and growing investments in oil & gas deep-water drilling activities are the major factors driving the overall market growth. The increased investment by OTT companies in the deployment of high-capacity communications systems and the growing need for HVDC underwater power cables will provide numerous new opportunities that will lead the market of the submarine cable system. The rising internet and data traffic in regions such as APAC remains a critical factor driving the growth of the submarine cables industry over the forecast period.
Densely populated regions such as APAC, South America, and MEA, actively invest in offshore wind power generation. These investments are expected to fuel the demand for submarine cables. The increasing demand and penetration of the internet, their collaboration with tier-1 vendors, and the rising demand for bandwidth caused due to the rise of 5G are a few factors that propel the demand for submarine cables.
Regional governments worldwide are aiming to increase their electricity generation output from non-fossil fuel-based sources of energy. The high costs incurred for the installation of cables and the difficulty in restoring and maintaining deep-water cables have adversely affected the adoption and implementation of submarine cables. Several threats, such as fishing hooks, cyclones, ships, and cruises, among others, raise the need for maintenance services. Therefore, proper installation techniques, materials, and the length of the cables propel the overall market growth. Any fault in submarine cables levies hefty costs for the repair and re-deployment process.
As countries transition toward a cleaner energy mix, integrating offshore wind power into the existing onshore grid infrastructure becomes crucial. Array and export cables facilitate this integration by transmitting the electricity generated from offshore grids to the onshore grids, helping to meet renewable energy targets and reduce reliance on fossil fuel-based power generation. Technological advancements, economies of scale, and streamlined installation processes contribute to cost reductions, making offshore wind projects more economically viable and driving the demand for array and export cables.
The OTT providers are an integral part of the submarine cables industry's development. These players own, manage, and fund their submarine cables infrastructure. Facebook, Google, Microsoft, and Amazon are among the leading OTT providers, which have drastically changed the landscape of the overall market.
Submarine Cables Market Report Highlights
- The submarine cables industry accounted for USD 27.57 billion in 2022 and is expected to grow at a CAGR of 5.9% from 2023 to 2030
- The offshore wind power generation segment emerged as the largest segment in 2022 and is estimated to generate a revenue of over USD 11.72 billion by 2030
- The Asia Pacific region held the largest share of the submarine power cables industry in 2022. Increasing offshore wind farm projects, growing investments by OTT providers, and increasing data traffic in the region are anticipated to drive the market
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Market Segmentation& Scope
- 1.2 Research Methodology
- 1.3 Research Scope & Assumptions
- 1.4 List of Secondary Sources
- 1.5 List of Primary Sources
- 1.6 List of Abbreviations
Chapter 2 Executive Summary
- 2.1 Submarine Cables Market Snapshot, 2020
- 2.2 Submarine Cables Market, by Application
Chapter 3 Market Variables, Trends, & Scope
- 3.1 Penetration and Growth Prospect Mapping
- 3.2 Value Chain Analysis
- 3.3 Market Dynamics
- 3.3.1 Market Drivers Analysis
- 3.3.1.1 Increasing investments by the OTT providers
- 3.3.1.2 Growing Demand for Inter - Country and Island Power Connections
- 3.3.1.3 Increasing Number of Offshore Wind Farms
- 3.3.2 Market Restraint Analysis
- 3.3.2.1 Complex Repairing Procedure for Deepwater Power Cable Links
- 3.4 Submarine Cables Market: PEST analysis
- 3.5 Porter's Five Forces Analysis
- 3.6 Submarine Cables Key Company Analysis, 2020
Chapter 4 Submarine Cables Market: By Application
- 4.1 Application Segment Analysis, 2017 - 2030 (USD Billion)
- 4.2 Submarine Power Cables
- 4.2.1 Submarine Power Cables Segment Trends, 2017 - 2030 (USD Billion)
- 4.3 Submarine Communication Cables
- 4.3.1 Submarine Communication Cables Segment Trends, 2017 - 2030 (USD Billion)
Chapter 5 Submarine Power Cables Market: By Voltage
- 5.1 Voltage Segment Analysis, 2017 - 2030 (USD Billion)
- 5.2 Medium Voltage
- 5.2.1 Medium Voltage Segment Trends, 2017 - 2030 (USD Billion)
- 5.3 High Voltage
- 5.3.1 High Voltage Segment Trends, 2017 - 2030 (USD Billion)
- 5.4 Extra High Voltage
- 5.4.1 Extra High Voltage Segment Trends, 2017 - 2030 (USD Billion)
Chapter 6 Submarine Power Cables Market: By End-user
- 6.1 End-user Segment Analysis, 2017 - 2030 (USD Billion)
- 6.2 Offshore Wind Power Generation
- 6.2.1 Offshore Wind Power Generation Segment Trends, 2017 - 2030 (USD Billion)
- 6.3 Inter - Country & Island Connection
- 6.3.1 Inter - Country & Island Connection Segment Trends, 2017 - 2030 (USD Billion)
- 6.4 Offshore Oil & Gas
- 6.4.1 Offshore Oil & Gas Segment Trends, 2017 - 2030 (USD Billion)
Chapter 7 Submarine Communication Cables Market: By Component
- 7.1 Component Segment Analysis, 2017 - 2030 (USD Billion)
- 7.2 Dry Plant Products
- 7.2.1 Dry Plant Products Segment Trends, 2017 - 2030 (USD Billion)
- 7.3 Wet Plant Products
- 7.3.1 Wet Plant Products Segment Trends, 2017 - 2030 (USD Billion)
Chapter 8 Submarine Communication Cables Market: By Offerings
- 8.1 Offerings Segment Analysis, 2017 - 2030 (USD Billion)
- 8.2 Installation & Commissioning
- 8.2.1 Installation & Commissioning Segment Trends, 2017 - 2030 (USD Billion)
- 8.3 Upgrade
- 8.3.1 Upgrade Segment Trends, 2017 - 2030 (USD Billion)
- 8.4 Maintenance
- 8.4.1 Maintenance Segment Trends, 2017 - 2030 (USD Billion)
Chapter 9 Submarine Communication Cables Market: By Region
- 9.1 Regional Segment Analysis, 2017 - 2030 (USD Billion)
- 9.2 Transatlantic
- 9.2.1 Transatlantic submarine communication cables market by component, 2017 - 2030 (USD Billion)
- 9.2.2 Transatlantic submarine communication cables market by offerings, 2017 - 2030 (USD Billion)
- 9.3 Transpacific
- 9.3.1 Transpacific submarine communication cables market by component, 2017 - 2030 (USD Billion)
- 9.3.2 Transpacific submarine communication cables market by offerings, 2017 - 2030 (USD Billion)
- 9.4 Indian Ocean
- 9.4.1 Indian Ocean submarine communication cables market by Component, 2017 - 2030 (USD Billion)
- 9.4.2 Indian Ocean submarine communication cables market by offerings, 2017 - 2030 (USD Billion)
- 9.5 Americas
- 9.5.1 Americas submarine communication cables market by component, 2017 - 2030 (USD Billion)
- 9.5.2 Americas submarine communication cables market by offerings, 2017 - 2030 (USD Billion)
- 9.6 EMEA
- 9.6.1 EMEA submarine communication cables market by component, 2017 - 2030 (USD Billion)
- 9.6.2 EMEA submarine communication cables market by offerings, 2017 - 2030 (USD Billion)
- 9.7 AustralAsia
- 9.7.1 AustralAsia submarine communication cables market by component, 2017 - 2030 (USD Billion)
- 9.7.2 AustralAsia submarine communication cables market by offerings, 2017 - 2030 (USD Billion)
Chapter 10 Submarine Power Cables: Regional Analysis
- 10.1 Regional Segment Analysis, 2017 - 2030 (USD Billion)
- 10.2 North America
- 10.2.1 North America submarine power cables market by country, 2017 - 2030 (USD Billion)
- 10.2.2 North America submarine power cables market by voltage, 2017 - 2030 (USD Billion)
- 10.2.3 North America high voltage cables market by end-user, 2017 - 2030 (USD Billion)
- 10.2.4 U.S.
- 10.2.4.1 U.S. submarine power cables market by voltage, 2017 - 2030 (USD Billion)
- 10.2.4.2 U.S. submarine power cables market by end-user, 2017 - 2030 (USD Billion)
- 10.2.5 Canada
- 10.2.5.1 Canada submarine power cables market by voltage, 2017 - 2030 (USD Billion)
- 10.2.5.2 Canada submarine power cables market by end-user, 2017 - 2030 (USD Billion)
- 10.3 Europe
- 10.3.1 Europe submarine power cables market by country, 2017 - 2030 (USD Billion)
- 10.3.2 Europe submarine power cables market by voltage, 2017 - 2030 (USD Billion)
- 10.3.3 Europe submarine power cables market by end-user, 2017 - 2030 (USD Billion)
- 10.3.4 UK
- 10.3.4.1 UK submarine power cables market by voltage, 2017 - 2030 (USD Billion)
- 10.3.4.2 UK submarine power cables market by end-user, 2017 - 2030 (USD Billion)
- 10.3.5 Germany
- 10.3.5.1 Germany submarine power cables market by voltage, 2017 - 2030 (USD Billion)
- 10.3.5.2 Germany submarine power cables market by end-user, 2017 - 2030 (USD Billion)
- 10.3.6 France
- 10.3.6.1 France submarine power cables market by voltage, 2017 - 2030 (USD Billion)
- 10.3.6.2 France submarine power cables market by end-user, 2017 - 2030 (USD Billion)
- 10.4 Asia Pacific
- 10.4.1 Asia Pacific submarine power cables market by country, 2017 - 2030 (USD Billion)
- 10.4.2 Asia Pacific submarine power cables market by voltage, 2017 - 2030 (USD Billion)
- 10.4.3 Asia Pacific submarine power cables market by end-user, 2017 - 2030 (USD Billion)
- 10.4.4 China
- 10.4.4.1 China submarine power cables market by voltage, 2017 - 2030 (USD Billion)
- 10.4.4.2 China submarine power cables market by end-user, 2017 - 2030 (USD Billion)
- 10.4.5 India
- 10.4.5.1 India submarine power cables market by voltage, 2017 - 2030 (USD Billion)
- 10.4.5.2 India submarine power cables market by end-user, 2017 - 2030 (USD Billion)
- 10.4.6 Japan
- 10.4.6.1 Japan submarine power cables market by voltage, 2017 - 2030 (USD Billion)
- 10.4.6.2Japan submarine power cables market by end-user, 2017 - 2030 (USD Billion)
- 10.4.7 South Korea
- 10.4.7.1 South Korea submarine power cables market by voltage, 2017 - 2030 (USD Billion)
- 10.4.7.2 South Korea submarine power cables market by end-user, 2017 - 2030 (USD Billion)
- 10.4.8 Australia
- 10.4.8.1 Australia submarine power cables market by voltage, 2017 - 2030 (USD Billion)
- 10.4.8.2 Australia submarine power cables market by end-user, 2017 - 2030 (USD Billion)
- 10.5 Latin America
- 10.5.1 Latin America submarine power cables market by country, 2017 - 2030 (USD Billion)
- 10.5.2 Latin America submarine power cables market by voltage, 2017 - 2030 (USD Billion)
- 10.5.3Latin America submarine power cables market by end-user, 2017 - 2030 (USD Billion)
- 10.5.4 Brazil
- 10.5.4.1 Brazil submarine power cables market by voltage, 2017 - 2030 (USD Billion)
- 10.5.4.2 Brazil submarine power cables market by end-user, 2017 - 2030 (USD Billion)
- 10.5.5 Mexico
- 10.5.5.1 Mexico submarine power cables market by voltage, 2017 - 2030 (USD Billion)
- 10.5.5.2 Mexico submarine power cables market by end-user, 2017 - 2030 (USD Billion)
- 10.6 Middle East and Africa
- 10.6.1 Middle East. submarine power cables market by voltage, 2017 - 2030 (USD Billion)
- 10.6.2 Middle East and Africa submarine power cables market by end-user, 2017 - 2030 (USD Billion)
- 10.6.3 UAE
- 10.6.3.1 UAE submarine power cables market by voltage, 2017 - 2030 (USD Billion)
- 10.6.3.2 UAE submarine power cables market by end-user, 2017 - 2030 (USD Billion)
- 10.6.4 Saudi Arabia
- 10.6.4.1 Saudi Arabia submarine power cables market by voltage, 2017 - 2030 (USD Billion)
- 10.6.4.2 Saudi Arabia submarine power cables market by end-user, 2017 - 2030 (USD Billion)
- 10.6.5 South Africa
- 10.6.5.1 South Africa submarine power cables market by voltage, 2017 - 2030 (USD Billion)
- 10.6.5.2 South Africa submarine power cables market by end-user, 2017 - 2030 (USD Billion)
Chapter 11 Competitive Landscape
- 11.1 ALE International, ALE USA Inc.
- 11.1.1 Company overview
- 11.1.2 Financial performance
- 11.1.3 Product benchmarking
- 11.1.4 Strategic initiatives
- 11.2 SubCom, LLC
- 11.2.1 Company overview
- 11.2.2 Financial performance
- 11.2.3 Product benchmarking
- 11.2.4 Strategic initiatives
- 11.3 NEC Corporation
- 11.3.1 Company overview
- 11.3.2 Financial performance
- 11.3.3 Product benchmarking
- 11.3.4 Strategic initiatives
- 11.4 Prysmian S.p.A
- 11.4.1 Company overview
- 11.4.2 Financial performance
- 11.4.3 Product benchmarking
- 11.4.4 Strategic initiatives
- 11.5 Nexans
- 11.5.1 Company overview
- 11.5.2 Financial performance
- 11.5.3 Product benchmarking
- 11.5.4 Strategic initiatives
- 11.6 Google LLC
- 11.6.1 Company overview
- 11.6.2 Financial performance
- 11.6.3 Product benchmarking
- 11.6.4 Strategic initiatives
- 11.7 Amazon.com, Inc.
- 11.7.1 Company overview
- 11.7.2 Financial performance
- 11.7.3 Product benchmarking
- 11.7.4 Strategic initiatives
- 11.8 Microsoft
- 11.8.1 Company overview
- 11.8.2 Financial performance
- 11.8.3 Product benchmarking
- 11.8.4 Strategic initiatives
- 11.9 NKT A/S
- 11.9.1 Company overview
- 11.9.2 Financial performance
- 11.9.3 Product benchmarking
- 11.9.4 Strategic initiatives
- 11.10 ZTT
- 11.10.1 Company overview
- 11.10.2 Financial performance
- 11.10.3 Product benchmarking
- 11.10.4 Strategic initiatives