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Global Submarine Cable System Market By Offering (Upgrade, Maintenance Others, Others), By Voltage (Medium, High, Others), By End-Users (Offshore Oil & Gas, Offshore Wind Power Generation, Others) By Region, Forecast & Opportunities to 2026

The global submarine cable system market accounted for a value of USD 11.3 billion in 2019 and it is projected to register growth at a CAGR of 9.3% during forecast period.

COVID-19 has impacted the submarine cable system market significantly. The supply chain of raw materials and finished products got disrupted due to travel restrictions. Manufacturing facilities have to shut or halt its production due to lockdown. The demand for submarine cable is decreased across various regions. The submarine cable market is likely to foresee significant decline during forecast period.

Definition:

Submarine cable is an electrical cable which is laid on the seabed or laid on the bottom of large freshwater bodies. It is an integrated cable system which collectively helps in data transfer from one location to other.

Market Dynamics (Drivers/Opportunities):

The demand for bandwidth is increasing around the world which involves use of cables. The telecom subscriptions and internet connections are increasing around the world. This increases the market for submarine cables and this drives growth in submarine cable during forecast period.

The demand for inter-country and island power connections is growing rapidly in various countries around the world. The internet traffic is increasing in various regions such as Asia-Pacific etc. The number of offshore wind farms is increasing in the world. This increases demand for submarine cable market and drives growth in submarine cable market during forecast period.

Market Insights, by Offering

On the basis of offering, the submarine cable market is segmented into upgrade, maintenance others and installation & commissioning. The upgrades segment is estimated to register growth at highest CAGR during forecast period. Submarine cable upgrades are needed to meet capacity requirement. The network capacity can be increased by combination of right equipment, careful planning and accurate field expertise. Upgrades significantly changed the introduction of coherent transmission technology. The innovation is increasing upgrades segment and this drives growth in upgrades segment during forecast period.

Market Insights, by Voltage

On the basis of voltage, the submarine cable market is segmented into medium voltage, high voltage and extra high voltage. The high voltage segment accounted for XX% of largest market share in 2019. It is estimated to hold largest market share during forecast period. High voltage cables are widely used for the power distribution and transmission. The demand for high voltage DC submarine power cables is increasing and many companies are investing in this market largely. It helps in effective power transmission and reduces transmission losses. This drives growth in high voltage cables segment during forecast period.

Market Insights, by End-Users

On the basis of component, the submarine cable market is segmented into offshore oil & gas, inter country & island connection, offshore wind power generation. The offshore wind power generation segment is estimated to register growth at highest CAGR during forecast period. The installation of offshore wind farms is increasing in many countries. UK is considered as world’s largest offshore wind market. Various countries such as China, Japan, Taiwan, UK and Germany are investing in offshore wind power generation and this drives growth in offshore wind power generation during forecast period.

Regional Insights

Asia-Pacific region accounted for the largest market share in 2019 and it is estimated to register growth at highest CAGR during forecast period. The adoption and installation of wind farms is increasing in this region. China is highest contributor of growth in this region. The projects are increasing in China which increases demand for submarine cables system. This drives growth in this region during forecast period.

Key Companies & Market Share Insights

The key market players in submarine cables system industry are Alcatel-Lucent, Subcom, NEC, Prysmian, Nexans, Google, Saudi Ericsson, Hengtong, ZTT, NKT, Corning Inc., Cablel Group, hesfibel, JDR Cable System, Okonite and AFL.

Segments Covered in the Report

This report forecasts The Global Submarine Cables System Market, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2026. For the purpose of this study, Our Company has segmented the global submarine cables system market report on the basis of offering, voltage and end-users.

Submarine Cable System Market Size & Forecast (2017-2026)

  1. Research Framework
    • Market Definition and Product Overview
    • Market Segmentation
  2. Research Methodology
    • Qualitative Research
      • Primary & Secondary Sources
    • Quantitative Research
      • Primary & Secondary Sources
    • Breakdown of Primary Research Respondents, By Region
      • Secondary Research
      • Primary Research
    • Breakdown of Primary Research Respondents, By Industry Participants
      • Market Size Estimation
      • Assumption for the Study
      • Market Breakdown & Data Triangulation
  1. Executive Summary
    • Market Snapshot
  2. Industry Insights
    • Industry ecosystem analysis
      • Value Chain Analysis
    • Industry impact and forces
      • Growth Drivers
      • Challenges &Restraints
      • Opportunities
    • Disruptive Technological Analysis
    • Regulatory framework
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
    • Growth potential analysis, 2019
    • Porter’s Five forces analysis
    • Pricing Analysis
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
  1. COVID – Impact Analysis
    • North America
    • Europe
    • Asia Pacific
    • Middle East & Africa
    • South America
  2. Submarine Cable System Market, By Voltage, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Medium Voltage
  • High Voltage
  • Extra High Voltage
  1. Submarine Cable System Market, By Offering, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Upgrade
  • Maintenance Others
  • Installation & Commissioning
  1. Submarine Cable System Market, By End-Users, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Offshore Oil & Gas
  • Inter Country & Island Connection
  • Offshore Wind Power Generation
  1. Submarine Cable System Market, By Region, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • North America Market Size & Forecast To 2026
    • Market Overview
    • COVID-19 Impact
    • By Voltage
    • By Offering
    • By End-Users
    • By Country
      • USA
        • By End-Users
      • Canada
      • Mexico
    • South America Market Size & Forecast To 2026
      • Market Overview
      • COVID-19 Impact
      • By Voltage
      • By Offering
      • By End-Users
      • By Country
        • Brazil
          • By End-Users
        • Argentina
        • Chile
        • Rest of South America
      • Europe Market Size & Forecast To 2026
        • Market Overview
        • COVID-19 Impact
        • By Voltage
        • By Offering
        • By End-Users
        • By Country
          • UK
            • By End-Users
          • Germany
          • France
          • Italy
          • Rest of Europe
        • APAC Market Size & Forecast To 2026
          • Market Overview
          • COVID-19 Impact
          • By Voltage
          • By Offering
          • By End-Users
          • By Country
            • China
              • By End-Users
            • India
            • Japan
            • South Korea
            • Australia
            • Rest of APAC
          • Middle East & Africa Market Size & Forecast To 2026
            • Market Overview
            • COVID-19 Impact
            • By Voltage
            • By Offering
            • By End-Users
            • By Country
              • Saudi Arabia
                • By End-Users
              • UAE
              • Qatar
              • Kuwait
              • South Africa
              • Rest of Middle East & Africa
  1. Competitive Landscaping
    • Competitive Benchmarking
      • Market Share Analysis, 2019
      • Global Presence and Growth Strategies
        • Mergers & Acquisitions
        • New Product Launches
        • Investments Trends
        • R&D Initiatives
  1. Company Profile
    • AFL
      • Company Overview
      • Financial Overview
      • Product Portfolio
      • Recent Developments
      • SWOT Analysis
      • Strategic Outlook
    • Alcatel-Lucent
    • Subcom
    • NEC
    • Prysmian
    • Nexans
    • Google
    • Saudi Ericsson
    • Hengtong
    • ZTT
    • NKT
    • Corning Inc.
    • Cablel Group
    • Hesfibel
    • JDR Cable System
    • Okonite
  2. Appendix
    • Interrelated Market

Research Methodology

1.1     Research Methodology

The process of market research at PAN Market Consulting is very intuitive being iterative in nature and usually follows the path where Information gathered from secondary research is used to build data models, which are than validated from primary participants. Then same cycle repeats where, according to inputs from primary participants, additional secondary research is done, and new information type is again incorporated into data model. The process continues till desired level of information is not generated.

To calculate the market size, the report considers the revenue generated from the sales of the product/services. The revenue generated from the sales of product/services has been calculated through primary and secondary research. The report also analyses the key players operating in the market at the global level which are identified through secondary research and a corresponding detailed analysis of the top vendors in the market. The market size calculation also includes product segmentation determined using secondary sources and verified through primary sources.

1.2     Secondary Research

The secondary research source that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • Internal and external proprietary databases, relevant patent and regulatory databases
  • National government documents, statistical databases and market reports
  • News articles, press releases and web-casts specific to the companies operating in the market

The source for secondary research includes but is not limited to Factiva, Hoovers and Statista

SecondaryResearch

1.3     Primary Research

We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate data and analysis. A typical research interview fulfills the following end users:

  • It provides first-hand information on the market size, market trends, growth trends, competitive landscape, future outlook etc.
  • Helps in validating and strengthening the secondary research findings
  • Further develops the analysis team’s expertise and market understanding
  • Primary research involves E-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/ product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts, research analysts specializing in specific markets
  • Key opinion leaders specializing in different areas corresponding to different industry end users

1.4     Models

Where no hard data is available, we use modeling and estimates in order to produce comprehensive data sets. A rigorous methodology is adopted in which the available hard data is cross referenced with the following data products to produce estimates:

  • Demographic data: Population split by segment
  • Macro-economic indicators: GDP, etc.
  • Industry indicators: Expenditure, product stage & infrastructure, sector growth and facilities.

Data is then cross checked by the expert panel.

1.4.1 Company Share Analysis Model

Company share analysis is used to derive the size of global market. As well as study of revenues of companies for last three to five years also provide the base for forecasting the market size and its growth rate. This model is built in following steps:

ResearchMethodology1

1.4.2 Revenue Based Modeling

Revenue based models can be built in two ways – Top-Down or Bottom-Up irrespective of industry. Market size estimated from company share analysis acts as a validation point for bottom-up approach whereas it acts as starting point for top-down approach.

ResearchMethodology2

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