Global Subsea Cable Inspection Equipment Market is expected to foresee significant growth. Europe to lead the growth!
- Vikas Kumar
- July 28, 2023
- ENERGY & POWER, NEWS
- Subsea Cable Inspection Equipment Market
- 0 Comments
Subsea cables, also referred to as submarine cables, are long wires laid on sea beds to carry telecommunication signals. These cables are made up of hundreds of thin strands of wires, called fibers. It is laid between land-based stations to carry telecommunication signals across stretches of ocean and sea. These cables, which are usually thousands of miles in length, are able to transmit huge amounts of data rapidly from one point to another. These cables generally comprise the optical fibers that carry the information, covered in silicon gel, and sheathed in varying layers of plastic, steel wiring, copper, and nylon which provides insulation to protect the signal and prevent damage to the cable from wildlife, anchors & fishing, or weather & other natural events.
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The Subsea Cable Inspection Equipment Market is expected to grow at a steady rate of around 9.6% owing to the increasing projects by collaboration from various governments and increasing change of existing cables as new technologically advanced cables are making the existing cables obsolete. Major companies in the market offer Subsea Cable Inspection Equipment with solutions to External & Internal Corrosion, dents, coating and liner damage, cracks & weld defects, flooded annulus in flexible piping, blockages & stuck pigs within the industry. The typical lifeline of a subsea cable is 25 years but factors such as corrosion and the technology of cable becoming obsolete make it even shorter. Reliance company got the approval to build one of the biggest submarine cables in 2022, the company plans to build India-Europe-Xpress and India-Asia-Xpress which will be one of the world’s largest submarine cable system and is expected to be ready between 2023 and 2024.
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Based on Cable Type, the Subsea Cable Inspection Equipment market is segmented into Light Weight, Light Weight Protected, Single Armor, and Double Armor. The light weight protected cable segment accounted for a significant market share, and it is estimated to register substantial growth during the projected timeframe. Light Weight Protection (LWP) includes an outer shield for the LW cable and an additional outer polyethylene jacket. LWP cables are suitable for use in environments subject to moderate abrasion and marine bites up to 7,000m depth. Moreover, the year 2023 would showcase an increase in market share of the Subsea Cable Inspection Equipment as more than 36 cable projects are expected to be functional in the following year with notable projects such as 2Africa and Asian Direct Cable project expected to complete by the end of 2023.
Based on Application, the Subsea Cable Inspection Equipment market is bifurcated into Offshore Wind Power Generation, Inter-Country & Island Connection, and Offshore Oil Rigs. Among them, the Offshore Wind Power Generation segment captured the highest market share and is expected to grow at a significant growth rate during the projected period. Increasing investments in offshore wind power generation and the usage of submarine power cables in long-distance power transmissions from these plants are acting as a catalyst in the growth of the Offshore Wind Power Generation segment during the forecast period. For instance, Nine European countries have pledged to multiply the capacity of offshore wind farms in the North Sea by eight times the current levels before 2050 to achieve Europe’s net zero emission goal.
For a better understanding of the market adoption of the Subsea Cable Inspection Equipment industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, India, Japan, Rest of Asia-Pacific), Rest of World. Asia Pacific caters extensive share of the Subsea Cable Inspection Equipment market, however, Europe is expected to showcase the highest growth in the Subsea Cable Inspection Equipment during the forecast period due to their aggressive investments in the energy sector in order to achieve net zero emission goal of 2050. Growing demand for technologically advanced cables with higher data transfer has accelerated the trend for new subsea cable lines being deployed globally. Many telecom and data companies are deploying new cable lines which is acting as a catalyst for the growth of the Subsea Cable Inspection Equipment industry. For instance: Google launched its $1 billion Equiano cable which connects Western Europe to South Africa. Facebook (Meta0 is also planning to deploy 2Africa, a 45,000-kilometer subsea cable encircling the African continent and connected to Europe and Asia, funded by a consortium led by Meta.
Some of the major players operating in the market include Alcatel Submarine Networks, Inc., Xtera Subsea Networks, Hexatronic, Nexans S.A., Submarine Telecom Cable Solutions (NSW), OCC Corporation, Ciena, NEC Corporation, SubCom, LLC and HMN Tech.
Global Subsea Cable Inspection Equipment Market Segmentation
Market Insight, by Cable Type
- · Light Weight
Market Insight, by Application
- Offshore Wind Power Generation
- Inter-Country and Island Connection
- Offshore Oil Rigs
Market Insight, by Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- Germany
- U.K.
- France
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Rest of the World
Top Company Profiles
- Alcatel Submarine Networks, Inc.
- Xtera Subsea Networks
- Hexatronic
- Nexans S.A.
- Submarine Telecom Cable Solutions (NSW)
- OCC Corporation
- Ciena
- NEC Corporation
- SubCom, LLC
- HMN Tech
