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Submarine Cable System Market Trends

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Report ID: 3523
Published Date: Aug 26, 2024
Report Format: PDF, PPT

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Submarine Cable System Market Trends

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	2023
Forecast Year	2024-2036
CAGR	5.8%
Base Year Market Size (2023)	USD 29.06 billion
Forecast Year Market Size (2036)	USD 60.48 billion
Regional Scope	North America (U.S., and Canada) Asia Pacific (Japan, China, India, Indonesia, South Korea, Malaysia, Australia, Rest of Asia Pacific) Europe (UK, Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Latin America (Mexico, Argentina, Brazil, Rest of Latin America) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

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Browse Key Market Insights with Data Illustration:

Submarine Cables Market Size & Share, Growth Trends 2036

Author Credits: Abhishek Verma

Report ID: 3523
Published Date: Aug 26, 2024
Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of submarine cables is evaluated at USD 30.41 billion.

Submarine Cables Market size was over USD 29.06 billion in 2023 and is poised to cross USD 60.48 billion by 2036, growing at more than 5.8% CAGR during the forecast period i.e., between 2024-2036. The growing adoption of offshore oil fields, and wind energy generating farms will boost the market growth.

Europe industry is poised to dominate majority revenue share by 2036, 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.

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