Subsea Cable Inspection Equipment Market: Current Analysis and Forecast (2022-2028)

Report Description

Global Subsea Cable Inspection Equipment Market was valued at more than USD 86.1 million in 2028 and is expected to grow at a CAGR of around 9.6% from 2022-2028. 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.

S.B. Submarine Systems Co., Ltd., Ocean Specialists, Inc., Engineering Technology Applications Ltd., DeepOcean, KT Submarine Co., Ltd., Fujitsu Ltd, NEC Corporation, Ciena Corporation, Cable & Wireless Communications PLC, and Alcatel-Lucent Enterprise are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst Cable Type, light weight protected cable segment accounted for a significant market share”

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.

“Amongst Application, the Offshore Wind Power Generation caters to a significant market share in the Subsea Cable Inspection Equipment market”

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.

“APAC constitutes a major market for the Subsea Cable Inspection Equipment industry”

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.

Subsea Cable Inspection Equipment Market Report Coverage

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The global Subsea Cable Inspection Equipment market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Subsea Cable Inspection Equipment Market Analysis (2022-2028)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global Subsea Cable Inspection Equipment market were the three major steps undertaken to create and analyze the adoption of Subsea Cable Inspection Equipment in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Subsea Cable Inspection Equipment market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the Subsea Cable Inspection Equipment market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Subsea Cable Inspection Equipment market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as Cable Type and Application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Subsea Cable Inspection Equipment market. Further, we conducted factor analysis using dependent and independent variables such as various Cable Types and Applications of Subsea Cable Inspection Equipment. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Subsea Cable Inspection Equipment market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Subsea Cable Inspection Equipment market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the Subsea Cable Inspection Equipment market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global Subsea Cable Inspection Equipment market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Subsea Cable Inspection Equipment market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of material, fabrication, and end-user in the global Subsea Cable Inspection Equipment market.

The main objective of the Global Subsea Cable Inspection Equipment Market Study

The current & future market trends of the global Subsea Cable Inspection Equipment market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the Subsea Cable Inspection Equipment market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of Cable Type and Application.
• Define and analysis of the regulatory framework for the Subsea Cable Inspection Equipment
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the Subsea Cable Inspection Equipment market for the major region.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
• Company profiles of the Subsea Cable Inspection Equipment market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

You can also purchase parts of this report. Do you want to check out a section wise
price list?

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