The global submarine cable system market is projected to reach USD 22 billion by 2025 from USD 10.3 billion in 2019; it is expected to grow at a CAGR of 11.1% from 2020 to 2025.
The surge in global bandwidth demand, increasing internet connection worldwide, increasing new offshore wind capacity additions, and growing demand for inter-country & island connections are the key factors driving the growth of the submarine cable system market. However, the growing buzz around space-based internet communication could act as a challenge for the submarine communication market growth.
Alcatel-Lucent, SubCom, NEC, Prysmian, Nexans, Google, Saudi Ericsson, Hengtong, ZTT, NKT, and JDR Cable are a few key players in the submarine cable system market.
Upgrade segment of submarine communication cable to register highest CAGR during the forecast period.
Submarine communication cable upgrades are required to meet the capacity requirements within fixed budgets. A combination of careful planning, the right equipment, and accurate field expertise is necessary to increase undersea network capacity. Submarine communication cable upgrades have significantly changed with the introduction of coherent transmission technology.
This technology combines the modulation of the amplitude, phase modulation, and polarization to transmit large volumes of information through a fiber-optic cable. Thus, innovations and upgrades in submarine communication cables enable developments in models, field trials, design methodologies, and power budget formulations to ensure successful upgrades in the coherent capacity installations of these cables.
High voltage power cable to hold the largest size of the submarine power cable market throughout the forecast period
The increasing requirement of interconnecting lands and the growing demand for power generated from offshore plants using renewable sources of energy have led to the growth of the high voltage segment of the submarine power cable market.
Submarine power cable market in APAC expected to grow at highest CAGR during the forecast period
The region is expected to witness unprecedented growth in offshore wind installations during the forecast period. According to the Global Offshore Wind Report 2019, the offshore installations in Asia are expected to have 100 GW wind capacity. Moreover, the report states that China accounted for the highest proportion of new offshore installations in 2018, both offshore (40%) and onshore (45%).
Several countries in APAC are planning pilot projects or carrying out full-scale development of commercial-scale offshore wind farms to amplify offshore wind deployments in the region. This has led to an increase in the investments toward pilot projects, feasibility studies, and new installations in APAC.
Key Topics Covered
2 Research Methodology
3 Executive Summary
4 Premium Insights 4.1 Attractive Opportunities in Submarine Cable System Market 4.2 Submarine Cable System Market, By Application 4.3 Submarine Communication Cable Market, By Component 4.4 Submarine Communication Cable Market, By Region 4.5 Submarine Power Cable Market, By Type 4.6 Submarine Power Cable Market in APAC 4.7 Submarine Power Cable Market, By Country
5 Market Overview 5.1 Introduction 5.2 Market Dynamics 5.2.1 Drivers 184.108.40.206 Surge in Global Bandwidth Demand 220.127.116.11 Increasing Internet Traffic in APAC 18.104.22.168 Increasing Telecom Subscriptions and Internet Connections Worldwide 22.214.171.124 Growing Demand for Inter-Country and Island Power Connections 126.96.36.199 Increasing Number of Offshore Wind Farms 5.2.2 Restraints 188.8.131.52 Regulatory, Environmental, and Complex Authorization Procedures Leading to Delays 184.108.40.206 Entry Barriers for Start-ups and SMEs 220.127.116.11 Complex Repairing Procedure for Deepwater Power Cable Links 5.2.3 Opportunities 18.104.22.168 Growing Investment in Deployment of High-Capacity Communications Systems by OTT Players 22.214.171.124 Increasing Demand for HVDC Submarine Power Cables 5.2.4 Challenges 126.96.36.199 Growing Buzz Around Space-Based Internet Communications Constellations 188.8.131.52 Redundant Links, and Natural and Human-Triggered Activities Leading to Disruptions
6 Submarine Cable System Market, By Application 6.1 Introduction 6.2 Communication Cables 6.2.1 Increase in Number of High-Capacity Communication Systems Leading to Rise in Global Demand for Submarine Communication Cables 6.3 Power Cables 6.3.1 Rise in Number of Offshore Wind Farm Installations to Contribute to Demand for Submarine Power Cables Globally
7 Submarine Communication Cable Market, By Component 7.1 Introduction 7.2 Dry Plant Products 7.2.1 Submarine Line Terminal Equipment (SLTE) 7.2.2 Submarine Line Monitors (SLM) 7.2.3 Power Feeding Equipment (PFE) 7.3 Wet Plant Products 7.3.1 Repeaters 7.3.2 Branching Units (BU) 7.3.3 Cables 7.3.4 Others
8 Submarine Communication Cable Market, By Offering 8.1 Introduction 8.2 Installation & Commissioning 8.2.1 Submarine Communication Cable System Market in EMEA for Installation & Commissioning Projected to Grow at Highest CAGR From 2020 to 2025 8.3 Maintenance 8.3.1 Trans-Atlantic Region to Account for Largest Share of Submarine Communication Cable Market for Maintenance 8.4 Upgrades 8.4.1 Upgrades Segment of Submarine Communication Cable Market to Grow at Highest CAGR From 2020 to 2025
9 Submarine Power Cable Market, By Type 9.1 Introduction 9.2 Single Core 9.2.1 Single Core Segment Projected to Lead Submarine Power Cable Market From 2020 to 2025 9.3 Multicore 9.3.1 Multicore Cables have Reduced Installation Costs as They Lay Complete Circuit in One Trench
10 Submarine Power Cable Market, By Voltage 10.1 Introduction 10.2 Medium Voltage 10.2.1 Europe Held Largest Share of Medium Voltage Submarine Power Cable Market in 2019 10.3 High Voltage 10.3.1 Low Transmission Losses in High Voltage Submarine Power Cables Leading to Rise in Their Global Demand
11 Submarine Power Cable Market, By End User 11.1 Introduction 11.2 Offshore Wind Power Generation 11.2.1 Increase in Use of Submarine Power Cables for Long Distance Power Transmissions From Offshore Wind Power Generation Plants 11.3 Inter-Country & Island Connection 11.3.1 Rise in Demand for Improved Power Supply to Islands Leading to Growth of Inter-Country & Island Connection Segment of Market 11.4 Offshore Oil & Gas 11.4.1 Increasing Subsea Operations and Deepwater Drilling Activities Driving Submarine Power Cable for Offshore Oil & Gas