Submarine Cable System Market

Segmentation by Voltage (High Voltage, Medium Voltage, and Others); by Application (Communication, Power Supply, and Others); and by End User (Offshore Wind Farms, Offshore Oil Fields, and Others) – Global Demand Analysis & Opportunity Outlook 2030

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Report ID: 3523 | Published On: Feb 07, 2023
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Global Submarine Cable System Market Regional Synopsis

On the basis of geographical analysis, the global submarine cable system market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Europe region is estimated to witness noteworthy growth over the forecast period on the back of the growing requirement of establishing connectivity across the region in the Atlantic Ocean, including Norway, UK, and others. Various important tourist spots in the Europe, such as, the Dalmatian Islands, Paros, Milos, Canary Islands, and others, are islands. This is estimated to fuel the market growth in the region. Moreover, presence of various offshore wind energy farms is also estimated to boost the market growth. The market in the North America region is anticipated to gain significant market share throughout the forecast period owing to the presence of large number of offshore oil reserves, along with the growing requirement of internet across the region.

Submarine Cable System Market Share Graph

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The global submarine cable system market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

submarine cable system market Graph
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Major Macro-Economic Indicators Impacting the Market Growth

Research And development Graph

The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.

Market Segmentation

Our in-depth analysis of the global submarine cable system market includes the following segments:

By Voltage

  • High Voltage
  • Medium Voltage 
  • Others

By Application

  • Communication
  • Power Supply
  • Others

By End-User

  • Offshore Wind Farms
  • Offshore Oil Fields
  • Others

Growth Drivers

  • Increasing Demand for Power Supply in Island Regions
  • Rising Adoption of Offshore Wind Farms and Oil Fields


  • Growing Adoption of Satellite-Based Communication
  • Very High Capital Investment

Research And development Graph
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Top Featured Companies Dominating the Market

    • Alcatel-Lucent S.A.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis 
    • 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

In The News

  • August, 2021: Alcatel-Lucent Enterprise to collaborate with Roost, a Brazilian technology company, to expand its business in Brazil for telecommunication, media and entertainment, and various other sectors.

Global Economic Impact

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Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.

Key Questions Answered in the Report

1) What are the major factors driving the growth of the submarine cable system market?

Ans: The growing adoption of offshore oil fields, and wind energy generating farms is estimated to boost the market growth.

2) What would be the CAGR of submarine cable system market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ~12% over the forecast period, i.e., 2022 – 2030.

3) What are the challenges affecting the submarine cable system market growth?

Ans: High capital investment, and growing adoption of satellite-based communication are estimated to hamper the market growth.

4) Which region will provide more business opportunities for growth of submarine cable system market in future?

Ans: The market in the Europe region will provide growth opportunities on the back of higher number of islands, which are a major tourist attraction, and hence, require efficient network connectivity and power supply.

5) Who are the major players dominating the submarine cable system market?

Ans: 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.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the submarine cable system market?

Ans: The market is segmented by voltage, application, end-user, and by region.

8) Which segment captures the largest market size in end-user segment in the submarine cable system market?

Ans: The offshore wind farms segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities.

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