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The Submarine Cable Systems Market Size was valued at USD 27.02 billion in 2022 and is expected to reach USD 43.73 billion by 2030, growing at a CAGR of 6.2% over the forecast period 2023-2030.
Submarine Cables are referred to as any type of Submarine Cables that are laid under a water body. These cables connect continents around the world and rely on ground-based stations to carry communications and electrical signals. Submarine Cables use optic fiber technology to carry digital telephone data, internet, and personal data. submarine cable installation has many advantages over satellite communication. They are longer lasting, cheaper, and more reliable than satellite communication. The use of submarine cables has improved global trade and international communication, due to the speed at which information can be exchanged globally. Submarine Cables are an important international asset for media companies, trading and transportation companies, governments and their armed forces, and the public. One submarine cable can carry millions of phone data accompanied by internet and video data. The international system depends on the security of the submarine cable system.
KEY DRIVERS:
Increasing offshore wind power capacity.
Increasing penetration of the Internet and collaborations among companies.
Increasing demand for bandwidth due to the emergence of 5G
RESTRAINTS:
Complexity and delays in approvals result from the involvement of multi-country government bodies.
Huge initial investments for SMEs.
OPPORTUNITIES:
Content delivery and streaming partners are increasing their investments to generate opportunities in the APAC region.
CHALLENGES:
Other modes of Internet service provisioning.
Lack of commissioning and repair vessels.
COVID-19 has had a severe impact on the global economy as well as all industries. Governments in several countries have established borders to stop the plague from spreading. The initial phase of the epidemic's global shutdown in many countries has had a significant influence on people's lives and quality of life. As a result, the global supply chain has been shattered. The global economy has shrunk as commodity demand has decreased considerably. Due to the outbreak, which has caused a lack of immature materials, production in all industries has been slowed. Productivity declines are caused by variables such as depreciation and supply chain disruption.
The closure of some cable industries by submarine cable providers has delayed the deployment of new submarine cable systems. The International Cable Protection Committee (ICPC) has called on governments and submarine cable industries to promote and accelerate the installation, operation, and repair of submarine cables during the COVID-19 epidemic to protect critical Internet connectivity and governance, health, and education, and commercial activities based on such connections. Such items are expected to provide market opportunities for submarine cables. The submarine cable system market has experienced contract delays due to the COVID-19 outbreak in 2020-2021. By 2020, the number of submarine power cables installed will have decreased by roughly 3-4 percent compared to last year, but the number of oil and gas metals will have doubled. However, by 2021 and beyond, the market is expected to begin to recover from the impact of COVID-19, and renewable energy grid projects and communication networks will resume.
Based on Application, the submarine cable system market is subdivided into Power Cables and Communication Cables. Among this Power Cable market is estimated to hold a major share of the market.
Countries around the world are focused on generating electricity through renewable energy sources, resulting in offshore wind farms. The huge investments made by governments around the world in offshore wind projects are driving the demand for the submarine cable system market around the world.
Based on Components, the submarine cable system market is subdivided into Dry Plant Products and Wet Plant Products. Part of the dry plant products led the type of segment of the submarine cable system market, the share of dried vegetable products accounted for 70% of the market in terms of revenue. This is due to cost efficiency and the latest developments in the dry industry, such as SDM cables with high fiber and strength, aluminum conductors, smart cables: emergency earthquake and tsunami warnings, repeated pumping, underwater virtual networks, artificial intelligence, and machine learning in underwater systems.
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The region has about 35,000 offshore, more than 2,600 platforms, and more than 55,000 km of pipelines in countries such as China, Thailand, Malaysia, Indonesia, and Australia. As well as exploring new oil and gas resources, a few operators in the region are embracing the technology to increase oil and gas production in existing sectors and develop major projects to bring new energy to the region. The region is expected to see unprecedented growth in offshore wind turbines during the forecast period.
The key players in the Submarine Cable Systems Market are NEC Corporation, Jiangsu Hengtong Au Optronics Co, Corning Incorporated, Alcatel-Lucent Enterprise, Saudi Ericsson, JDR Cable Systems Ltd, The Okonite Company, Apar Industries, SubCom, LLC, Prysmian S.p.A, Google LLC, Microsoft, NKT A/S, Sumitomo Electric Industries, ALE International, ALE USA Inc., NEC Corporation, Nexans, Amazon.com, Inc., ZTT & Other Players.
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 27.02 Billion |
| Market Size by 2030 | US$ 43.73 Billion |
| CAGR | CAGR of 6.2% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Type (Single Core, Multicore) • By Component (Dry Plant Products, Wet Plant Products) • By Voltage (Medium Voltage, High Voltage, Extra High Voltage) • By Offering (Installation & Commissioning, Maintenance, and Upgrades) • By Insulation (Cross-Linked Polyethylene (XLPE), Resin Impregnated Paper (RIP), Oil Impregnated Paper, Resin Impregnated Synthetics (RIS)) • By Application (Power Cable, Communication Cable) • By End-User (Offshore Wind, Offshore Oil & Gas, Inter-Country & Island Connections) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Company Profiles | NEC Corporation, Jiangsu Hengtong Au Optronics Co, Corning Incorporated, Alcatel-Lucent Enterprise, Saudi Ericsson, JDR Cable Systems Ltd, The Okonite Company, Apar Industries, SubCom, LLC, Prysmian S.p.A, Google LLC, Microsoft, NKT A/S, Sumitomo Electric Industries, ALE International, ALE USA Inc., NEC Corporation, Nexans, Amazon.com, Inc., ZTT and Other. |
| Key Drivers | • Increasing offshore wind power capacity. • Increasing penetration of the Internet and collaborations among companies. |
| Restraints | • Complexity and delays in approvals result from the involvement of multi-country government bodies. • Huge initial investments for SMEs. |
Ans: The Submarine Cable Systems Market size was avalued at US$ 27.02 billion in 2022.
Complexity and delays in approvals result from the involvement of multi-country government bodies, and Huge initial investments for SMEs are the factors limiting the Submarine Cable System Market's expansion.
The key players in the Submarine Cable Systems Market are NEC Corporation, Jiangsu Hengtong Au Optronics Co, Corning Incorporated, Alcatel-Lucent Enterprise, Saudi Ericsson, JDR Cable Systems Ltd, The Okonite Company, Apar Industries, SubCom, LLC, Prysmian S.p.A, Google LLC, Microsoft, NKT A/S, Sumitomo Electric Industries, ALE International, ALE USA Inc., NEC Corporation, Nexans, Amazon.com, Inc., ZTT and Other.
Top-down research, bottom-up research, qualitative research, quantitative research, and Fundamental research.
Ans: The Submarine Cable Systems Market is to grow at a CAGR of 6.2% over the forecast period 2023-2030.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Submarine Cable Systems Market Segmentation, by type
8.1Introduction
8.2 Single Core
8.3 Multicore
9. Submarine Cable Systems Market Segmentation, by Component
9.1 Introduction
9.2 Dry Plant Products
9.3 Wet Plant Products
10. Submarine Cable Systems Market Segmentation, by voltage
10.1 Introduction
10.2 Medium Voltage
10.3 High Voltage
10.4 Extra High Voltage
11. Submarine Cable Systems Market Segmentation, by offering
11.1 Introduction
11.2 Installation & Commissioning
11.3 Maintenance
11.4 Upgrades
12. Submarine Cable Systems Market Segmentation, by insulation
12.1 Introduction
12.2 Cross-linked Polyethylene (XLPE)
12.3 Resin Impregnated Paper (RIP)
12.4 Oil Impregnated Paper
12.5 Resin Impregnated Synthetics (RIS)
13. Submarine Cable Systems Market Segmentation, by application
13.1 Introduction
13.2 Power Cable
13.3 Communication Cable
14. Submarine Cable Systems Market Segmentation, by End-User
14.1 Introduction
14.2 Offshore Wind
14.3 Offshore Oil & Gas
14.4 Inter-Country & Island Connections
15. Regional Analysis
15.1 Introduction
15.2 North America
15.2.1 USA
15.2.2 Canada
15.2.3 Mexico
15.3 Europe
15.3.1 Germany
15.3.2 UK
15.3.3 France
15.3.4 Italy
15.3.5 Spain
15.3.6 The Netherlands
15.3.7 Rest of Europe
15.4 Asia-Pacific
15.4.1 Japan
15.4.2 South Korea
15.4.3 China
15.4.4 India
15.4.5 Australia
15.4.6 Rest of Asia-Pacific
15.5 The Middle East & Africa
15.5.1 Israel
15.5.2 UAE
15.5.3 South Africa
15.5.4 Rest
15.6 Latin America
15.6.1 Brazil
15.6.2 Argentina
15.6.3 Rest of Latin America
16. Company Profiles
16.1 Amazon.com, Inc.
16.1.1 Financial
16.1.2 Products/ Services Offered
16.1.3 SWOT Analysis
16.1.4 The SNS view
16.2 NEC Corporation
16.3 Jiangsu Hengtong Au Optronics Co
16.4 Corning Incorporated
16.5 Alcatel-Lucent Enterprise
16.6 Saudi Ericsson
16.7 JDR Cable Systems Ltd
16.8 The Okonite Company
16.9 Apar Industries
16.10 SubCom, LLC
16.11 Prysmian S.p.A
16.12 Google LLC
16.13 Microsoft
16.14 NKT A/S
16.15 Sumitomo Electric Industries
16.16 ALE International, ALE USA Inc.
16.17 NEC Corporation
16.18 Nexans
16.19 ZTT
16.20 Other
17. Competitive Landscape
17.1 Competitive Benchmark
17.2 Market Share Analysis
17.3 Recent Developments
18. Conclusion
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BY TYPE
Single Core
Multicore
BY COMPONENT
Dry Plant Products
Wet Plant Products
BY VOLTAGE
Medium Voltage
High Voltage
Extra High Voltage
BY OFFERING
Installation & Commissioning
Maintenance
Upgrades
BY INSULATION
Cross-linked Polyethylene (XLPE)
Resin Impregnated Paper (RIP)
Oil Impregnated Paper
Resin Impregnated Synthetics (RIS)
BY APPLICATION
Power Cable
Communication Cable
BY END-USER
Offshore Wind
Offshore Oil & Gas
Inter-Country & Island Connections
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REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
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