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Submarine Cables Market Size, Share & Trends Analysis Report By Application (Submarine Power Cables, Submarine Communication Cables), By Voltage, By End-user, By Offerings, By Component, By Region, And Segment Forecasts, 2023 - 2030

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  • 150 Pages
  • July 2023
  • Region: Global
  • Grand View Research
  • ID: 5595842
Description Jump to:
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. 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


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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
List of Tables
Table 1 List of Abbreviations
Table 2 Submarine cables market, 2017 - 2030 (USD Billion)
Table 3 Submarine cables market, by application 2017 - 2030 (USD Billion)
Table 4 Submarine power cables market, by voltage 2017 - 2030 (USD Billion)
Table 5 Submarine power cables market, by end-user 2017 - 2030 (USD Billion)
Table 6 Submarine communication cables market, by component 2017 - 2030 (USD Billion)
Table 7 Submarine communication cables market, by offerings 2017 - 2030 (USD Billion)
Table 8 Submarine power cables market, by region 2017 - 2030 (USD Billion)
Table 9 Submarine communication cables market, by region 2017 - 2030 (USD Billion)
Table 10 Medium voltage market, by region, 2017 - 2030 (USD Billion)
Table 11 High voltage market, by region, 2017 - 2030 (USD Billion)
Table 12 Extra high voltage market, by region, 2017 - 2030 (USD Billion)
Table 13 Offshore wind power generation market, by region, 2017 - 2030 (USD Billion)
Table 14 Inter-country & island connection market, by region, 2017 - 2030 (USD Billion)
Table 15 Offshore oil & gas market, by region, 2017 - 2030 (USD Billion)
Table 16 Dry plant products market, by region, 2017 - 2030 (USD Billion)
Table 17 Wet plant products market, by region, 2017 - 2030 (USD Billion)
Table 18 Installation & commissioning market, by region, 2017 - 2030 (USD Billion)
Table 19 Upgrade market, by region, 2017 - 2030 (USD Billion)
Table 20 Maintenance market, by region, 2017 - 2030 (USD Billion)
Table 21 North America submarine power cables market, by country, 2017 - 2030 (USD Billion)
Table 22 North America submarine power cables market, by voltage, 2017 - 2030 (USD Billion)
Table 23 North America submarine power cables market, by end-user, 2017 - 2030 (USD Billion)
Table 24 U.S. submarine power cables market, by voltage, 2017 - 2030 (USD Billion)
Table 25 U.S. submarine power cables market, by end-user, 2017 - 2030 (USD Billion)
Table 26 Canada submarine power cables market, by voltage, 2017 - 2030 (USD Billion)
Table 27 Canada submarine power cables market, by end-user, 2017 - 2030 (USD Billion)
Table 28 Europe submarine power cables market, by country, 2017 - 2030 (USD Billion)
Table 29 Europe submarine power cables market, by voltage, 2017 - 2030 (USD Billion)
Table 30 Europe submarine power cables market, by end-user, 2017 - 2030 (USD Billion)
Table 31 UK submarine power cables market, by voltage, 2017 - 2030 (USD Billion)
Table 32 UK submarine power cables market, by end-user, 2017 - 2030 (USD Billion)
Table 33 Germany submarine power cables market, by voltage, 2017 - 2030 (USD Billion)
Table 34 Germany submarine power cables market, by end-user, 2017 - 2030 (USD Billion)
Table 35 France submarine power cables market, by voltage, 2017 - 2030 (USD Billion)
Table 36 France submarine power cables market, by end-user, 2017 - 2030 (USD Billion)
Table 37 Asia Pacific submarine power cables market, by country, 2017 - 2030 (USD Billion)
Table 38 Asia Pacific submarine power cables market, by voltage, 2017 - 2030 (USD Billion)
Table 39 Asia Pacific submarine power cables market, by end-user, 2017 - 2030 (USD Billion)
Table 40 China submarine power cables market, by voltage, 2017 - 2030 (USD Billion)
Table 41 China submarine power cables market, by end-user, 2017 - 2030 (USD Billion)
Table 42 India submarine power cables market, by voltage, 2017 - 2030 (USD Billion)
Table 43 India submarine power cables market, by end-user, 2017 - 2030 (USD Billion)
Table 44 Japan submarine power cables market, by voltage, 2017 - 2030 (USD Billion)
Table 45 Japan submarine power cables market, by end-user, 2017 - 2030 (USD Billion)
Table 46 South Korea submarine power cables market, by voltage, 2017 - 2030 (USD Billion)
Table 47 South Korea submarine power cables market, by end-user, 2017 - 2030 (USD Billion)
Table 48 Australia submarine power cables market, by voltage, 2017 - 2030 (USD Billion)
Table 49 Australia submarine power cables market, by end-user, 2017 - 2030 (USD Billion)
Table 50 Latin America submarine power cables market, by country, 2017 - 2030 (USD Billion)
Table 51 Latin America submarine power cables market, by voltage, 2017 - 2030 (USD Billion)
Table 52 Latin America submarine power cables market, by end-user, 2017 - 2030 (USD Billion)
Table 53 Brazil submarine communication cables market, by voltage, 2017 - 2030 (USD Billion)
Table 54 Brazil submarine power cables market, by end-user, 2017 - 2030 (USD Billion)
Table 55 Mexico submarine power cables market, by voltage, 2017 - 2030 (USD Billion)
Table 56 Mexico submarine power cables market, by end-user, 2017 - 2030 (USD Billion)
Table 57 MEA submarine power cables market, by voltage, 2017 - 2030 (USD Billion)
Table 58 MEA submarine power cables market, by end-user, 2017 - 2030 (USD Billion)
Table 59 UAE submarine power cables market, by voltage, 2017 - 2030 (USD Billion)
Table 60 UAE submarine power cables market, by end-user, 2017 - 2030 (USD Billion)
Table 61 Saudi Arabia submarine power cables market, by voltage, 2017 - 2030 (USD Billion)
Table 62 Saudi Arabia submarine power cables market, by end-user, 2017 - 2030 (USD Billion)
Table 63 South Africa submarine power cables market, by voltage, 2017 - 2030 (USD Billion)
Table 64 South Africa submarine power cables market, by end-user, 2017 - 2030 (USD Billion)
Table 65 Transatlantic submarine communication cables market, by component, 2017 - 2030 (USD Billion)
Table 66 Transatlantic submarine communication cables market, by offerings, 2017 - 2030 (USD Billion)
Table 67 Transpacific submarine communication cables market, by component, 2017 - 2030 (USD Billion)
Table 68 Transpacific submarine communication cables market, by offerings, 2017 - 2030 (USD Billion)
Table 69 Indian Ocean submarine communication cables market, by component, 2017 - 2030 (USD Billion)
Table 70 Indian Ocean submarine communication cables market, by offerings, 2017 - 2030 (USD Billion)
Table 71 Americas submarine communication cables market, by component, 2017 - 2030 (USD Billion)
Table 72 Americas submarine communication cables market, by offerings, 2017 - 2030 (USD Billion)
Table 73 EMEA submarine communication cables market, by component, 2017 - 2030 (USD Billion)
Table 74 EMEA submarine communication cables market, by offerings, 2017 - 2030 (USD Billion)
Table 75 AustralAsia submarine communication cables market, by component, 2017 - 2030 (USD Billion)
Table 76 AustralAsia submarine communication cables market, by offerings, 2017 - 2030 (USD Billion)
List of Figures
Fig. 1 Submarine cables market research methodology
Fig. 2 Submarine cables market data triangulation technique
Fig. 3 Submarine cables market primary research scope
Fig. 4 Submarine cables market segmentation
Fig. 5 Submarine cables market: Market snapshot, 2020
Fig. 6 Submarine cables market: Value chain analysis
Fig. 7 Submarine cables market: Penetration and growth prospect mapping
Fig. 8 Submarine cables market: Key company analysis, 2020
Fig. 9 Submarine cables market: PESTEL analysis
Fig. 10 Submarine cables market: Porter's five forces analysis
Fig. 11 Submarine cables market: Application segment analysis, 2017 - 2030 (USD Billion)
Fig. 12 Submarine power cables market: Voltage segment analysis, 2017 - 2030 (USD Billion)
Fig. 13 Submarine power cables market: End-user segment analysis, 2017 - 2030 (USD Billion)
Fig. 14 Submarine communication cables market: Component segment analysis, 2017 - 2030 (USD Billion)
Fig. 15 Submarine communication cables market: Offerings segment analysis, 2017 - 2030 (USD Billion)
Fig. 16 Submarine communication cables market: Regional segment analysis, 2017 - 2030 (USD Billion)
Fig. 17 Submarine communication cables market: Transatlantic regional analysis, 2017 - 2030 (USD Billion)
Fig. 18 Submarine communication cables market: Transpacific regional analysis, 2017 - 2030 (USD Billion)
Fig. 19 Submarine communication cables market: Indian Ocean regional analysis, 2017 - 2030 (USD Billion)
Fig. 20 Submarine communication cables market: Americas regional analysis, 2017 - 2030 (USD Billion)
Fig. 21 Submarine communication cables market: EMEA regional analysis, 2017 - 2030 (USD Billion)
Fig. 22 Submarine communication cables market: Australasia regional analysis, 2017 - 2030 (USD Billion)
Fig. 23 Submarine power cables market: Regional segment analysis, 2017 - 2030 (USD Billion)
Fig. 24 Submarine power cables market: North America regional analysis, 2017 - 2030 (USD Billion)
Fig. 25 Submarine power cables market: Europe regional analysis, 2017 - 2030 (USD Billion)
Fig. 26 Submarine power cables market: Asia Pacific regional analysis, 2017 - 2030 (USD Billion)
Fig. 27 Submarine power cables market: Latin America regional analysis, 2017 - 2030 (USD Billion)
Fig. 28 Submarine power cables market: MEA regional analysis, 2017 - 2030 (USD Billion)

Companies Mentioned

  • Ale International, Ale Usa Inc.
  • Subcom, LLC
  • Nec Corporation
  • Prysmian S.P.A
  • Nexans
  • Google LLC
  • Amazon.Com, Inc.
  • Microsoft
  • Nkt A/S
  • Ztt

Methodology

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Table Information

Report AttributeDetails
No. of Pages150
PublishedJuly 2023
Forecast Period2022 - 2030
Estimated Market Value ( USD ) in 2022 $ 27.57 billion
Forecasted Market Value ( USD ) by 2030 $ 44.33 billion
Compound Annual Growth Rate5.9%
Regions CoveredGlobal
No. of Companies Mentioned10

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