PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1788514
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1788514
At a CAGR of 11.1%, the global submarine cable system market is anticipated to grow from USD 19.95 billion in 2025 to USD 33.75 billion by 2030. 5G allows mobile handsets and Internet of Things (IoT) devices to accommodate multiple connections simultaneously while improving speed, latency, reliability, and power consumption.
Scope of the Report | |
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Years Considered for the Study | 2021-2030 |
Base Year | 2024 |
Forecast Period | 2025-2030 |
Units Considered | Value (USD Billion) |
Segments | By Cable Type, Component, Service Offering, Type, Voltage, Insulation, End-use Application, and Region |
Regions covered | North America, Europe, APAC, RoW |
The auctions for spectrum have nearly finished, 5G-ready handsets have been released, and network implementation has begun globally. Most 5G developments are focused on the business-to-consumer (B2C) market, owing to the efforts of network operators to reduce operational costs. With the growing demand for data fueled by bandwidth-intensive applications, such as video and audio streaming services, coupled with the continued shift toward cloud services and 5G, there is a growing need for fiber optic interconnectivity, which will drive the submarine cable systems market growth.
"Dry plant products segment captured second-largest share of submarine cable systems market for communication cables in 2024"
The dry plant products of submarine communication cables, comprising submarine line monitors (SLE), power feeding equipment (PFE), and submarine line terminal equipment (SLTE), cover the stage between beach manholes and cable landing stations. The demand for dry plant products in the submarine cable system market is driven by the need to support and optimize the performance of undersea cable networks once they reach the shore. The rapid expansion of data centers and the proliferation of broadband services require robust terrestrial infrastructure.
"Installation & commissioning segment to witness highest CAGR in market for submarine communication cables between 2025 and 2030"
Installation & commissioning are anticipated to witness the highest CAGR during the forecast period in the submarine communication cable market. Several key factors propel the installation and commissioning of submarine cables in the market. Firstly, the increasing global demand for high-speed and reliable connectivity drives the need for efficient installation and commissioning processes to deploy submarine cable networks swiftly. Secondly, advancements in installation technologies, such as remotely operated vehicles (ROVs) and specialized vessels, enable faster and more accurate cable laying in challenging underwater environments, contributing to reduced installation times and costs.
"Rising interest towards offshore infrastructure to position Asia Pacific as the second-largest submarine power cable market in 2024"
The submarine power cable market in Asia Pacific, which includes China, Japan, South Korea, Malaysia, Vietnam, Indonesia, and Rest of Asia Pacific, has been thoroughly assessed. According to projections from the Global Wind Energy Council (GWEC), the Asia Pacific is expected to dominate offshore wind energy expansion throughout this decade. China is emerging as a dominant player in the global submarine power cable market, driven by its aggressive push toward renewable energy and offshore infrastructure development. The country has set a target to add 64 GW of offshore wind power capacity within the next five years, aiming to reduce its dependence on fossil fuels and achieve carbon neutrality.
Breakdown of Primaries
Various executives from key organizations operating in the submarine cable systems market, including CEOs, marketing directors, and innovation and technology directors, were interviewed in-depth.
Note: Three tiers of companies have been defined based on their total revenue as of 2024: tier 3: revenue less than USD 500 million; tier 2: revenue between USD 500 million and USD 1 billion; and tier 1: revenue more than USD 1 billion. Other designations include sales managers, marketing managers, and product managers.
Major players profiled in this report are Alcatel Submarine Networks (France), Prysmian S.p.A (Italy), SubCom, LLC (US), NEC Corporation (Japan), Nexans (France), HENGTONG GROUP CO., LTD. (China), NKT A/S (Denmark), ZTT (China), LS Cable & System Ltd. (South Korea), Sumitomo Electric Industries, Ltd.(Japan), Corning Incorporated (US), Ningbo Orient Wires &Cables Co.,Ltd. (China), Taihan Cable & Solution Co., Ltd. (South Korea), Qingdao Hanhe Cable Co., Ltd. (China), Furukawa Electric Co., Ltd. (Japan), Hexatronic Group (Sweden), APAR Industries Ltd. (India), TFKable (Poland), AFL (US), Hellenic Cables (Greece), Shanghai Qifan Cable Co.,Ltd. (China), SSGCABLE (China), OCC Corporation (Japan), Tratos (UK), and Frigate Engineering Services Pvt Ltd (US). These leading companies possess a broad portfolio of products and establish a prominent presence in established and emerging markets.
The study provides a detailed competitive analysis of these key players in the submarine cable systems market, presenting their company profiles, most recent developments, and key market strategies.
Research Coverage
This report segments the submarine cable systems market based on cable type, component, service offering, type, end-use application, voltage, insulation, and region. The cable type segment includes communication cables and power cables. The component segment includes wet plant products and dry plant products.
The end-use application segment comprises offshore wind power generation plants, intercountry & island connections, and offshore oil & gas plants. The type segment includes single core and multicore. The service offerings segment covers the installation & commissioning, maintenance, and system upgrades. The voltage segment includes medium-voltage and High-voltage. The insulation segment includes cross-linked polyethylene, oil-impregnated paper, resin-impregnated paper, and resin-impregnated synthetics. The market for submarine power cable has been segmented into five regions-North America, Asia Pacific, Europe, the Middle East & Africa, and South America. The market for submarine communication cable has been segmented into five regions: Transatlantic, Transpacific, Intra-Asia, Americas, EMEA, and Europe-Asia.
Reasons to Buy the Report
The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market and the subsegments. It will also help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the submarine cable systems market's pulse and provides information on key market drivers, restraints, challenges, and opportunities.
Key Benefits of Buying the Report