Submarine Cables Sector: Growth Drivers and Challenges
Growth Drivers
- Increasing Demand for Power Supply in Island Regions
- Rising Adoption of Offshore Wind Farms and Oil Fields
Challenges
- Growing Adoption of Satellite-Based Communication
- Very High Capital Investment
Submarine Cables Market: Key Insights
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
5.8% |
|
Base Year Market Size (2024) |
USD 30.75 billion |
|
Forecast Year Market Size (2037) |
USD 64 billion |
|
Regional Scope |
|
Browse key industry insights with market data tables & charts from the report:
Frequently Asked Questions (FAQ)
In the year 2025, the industry size of submarine cables is evaluated at USD 32.27 billion.
Submarine Cables Market size was valued at USD 30.75 billion in 2024 and is set to exceed USD 64 billion by 2037, expanding at over 5.8% CAGR during the forecast period i.e., between 2025-2037.
Europe industry is poised to hold largest revenue share by 2037, impelled by growing requirement of establishing connectivity across the region.
The major players in the market are Prysmian S.p.A., SubCom, LLC, The Okonite Company, Nexans S.A., Hellenic Cables S.A., JDR Cable Systems, Hesfibel, Hengtong Group Co., Ltd., Corning Incorporated, and others.
