Research Nester published a report titled “Underwater Cable Connectors Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global underwater cable connectors market in terms of market segmentation by type, application, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global underwater cable connectors market is estimated to grow at a CAGR of ~7% over the forecast period, i.e., 2022 – 2031. The market is segmented on the basis of type into rigid shell, inductive coupling, rubber molded, underwater electrical connectors, and others. Out of these, the rubber molded segment is anticipated to hold the notable share over the forecast period on account of various advantageous properties of rubber cable connectors, including higher affordability, and easy availability, along with the higher resistance to corrosion.
The global underwater cable connectors market is anticipated to grow on the back of increasing need for cables underwater to support various economic activities, such as, oil drilling, mining, SONARs, and others. Cable connectors are used to safely connect the cables to increase the reach of the cables, which is estimated to boost the market growth. Moreover, growing research and advancement of technologies are estimated to boost the market growth in the upcoming years. Along with this, growing oil demand is another major factor estimated to fuel the market growth.
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On the basis of geographical analysis, the global underwater cable connectors market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the North America region is anticipated to gain the largest market share throughout the forecast period on the back of the growing oil production in the region, along with growing investment in oil drilling activities. Moreover, growing underwater research, and oceanographic activities are also estimated to further boost the market growth in the region.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Growing Underwater Research Activities to Boost the Market Growth
According to the data by the World Bank, 2.203% of the global GDP was spent on research activities in 2018.
The increasing government and private investment in the research and development activities across the world, is bound to result in advancement of technologies, which is estimated to boost the growth of the market. With the introduction of new technologies, underwater mining, and oil production activities will surge, which, in turn, is estimated to raise the demand for cable connectors in the market.
However, life cycle limitations and corrosion issues with underwater cable connectors are expected to operate as key restraint to the growth of global underwater cable connectors market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global underwater cable connectors market which includes company profiling of SOURIAU-Sunbank, Hydro Group plc, Marshall Underwater Industries, Inc., Amphenol Corporation, Birns Aquamate LLC, Eaton Corporation PLC, Fischer Connectors SA, AG Geophysical, Teledyne Bowtech, and Seacon Group Limited. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global underwater cable connectors market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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