The underwater connector market size is projected to reach US$ 2768.74 million by 2031 from US$ 1746.88 million in 2023. The market is expected to register a CAGR of 5.9% during 2023–2031. The advanced subsea system for military and commercial applications is likely to remain a key trend in the market.
Underwater Connector Market Analysis
With growing government and private investment in R&D activities, underwater connectors are used in oceanographic, offshore, oil and gas, geophysical, defense, and marine applications operated by commercial, research, and defense organizations. To produce new underwater connectors, industries are integrating new technologies and using different raw materials with improved durability and performance under underwater conditions. Several network and carrier firms require high-speed data transmission systems, which demand the use of an advanced undersea cable connector. The demand for underwater cable connectors is increasing as undersea mining, and oil exploration become more common by integrating new technologies.
Underwater Connector Market Overview
Underwater connectors, also known as subsea (electrical) connectors, wet-mate connectors, or marine connectors, are designed to be mated or unmated in wet environments and are capable of withstanding the most extreme environments, from corrosive seawater and pressure to vibration and shock. These connectors find extensive use in underwater applications, such as robotics, subsea oil and gas operations, marine research, and renewable energy systems. They are also useful in moist areas where reliable connections are required. Many connectors are splashproof to an extent, but when the application requires submerging cables or subjecting connection points to significant impacts, this won’t be enough. A waterproof connector is needed to provide the highest possible level of protection.
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Underwater Connector Market: Strategic Insights
Market Size Value in US$ 1665.93 Million in 2022 Market Size Value by US$ 2353.43 Million by 2028 Growth rate CAGR of 5.9% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2022
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Underwater Connector Market: Strategic Insights
| Market Size Value in | US$ 1665.93 Million in 2022 |
| Market Size Value by | US$ 2353.43 Million by 2028 |
| Growth rate | CAGR of 5.9% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
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Underwater Connector Market Drivers and Opportunities
Rising water pollution
With the rising water pollution, the demand for underwater connectors is increasing. According to the World Health Organization (WHO), around 2 billion individuals worldwide consume water that is contaminated. Three hundred sixty-eight million individuals use unsafe sources of water. Additionally, 80% of the waste in the water is from the land. Yearly, ocean waste kills almost a million seabirds and marine life. As the country grows and urbanizes, its water bodies are getting toxic. It is estimated that approximately 70% of surface water in India is not suitable for consumption. Daily, almost 40 million litres of wastewater enter rivers and other water bodies with only a small portion being properly treated. A recent World Bank report suggests that pollution upstream decreases the economic growth in downstream areas, reducing GDP growth in these areas by up to a third. Thus, with rising water pollution, the demand for underwater connectors is increasing.
Increasing construction of subsea pipelines
Subsea pipelines are a crucial component of an offshore oil and gas extraction project to transport hydrocarbons. The demand for subsea pipelines is increasing. For instance, in December 2022, STATS Group was commissioned by UAE-headquartered Oil & Gas EPC Contractor National Petroleum Construction Company (NPCC) to provide pipeline isolation, hot tapping and plugging services to the world’s largest diameter subsea pipeline intervention project. The underwater connectors are highly used in these pipelines. Thus, the increasing construction of subsea pipelines is creating more opportunities for the market.
Underwater Connector Market Report Segmentation Analysis
Key segments that contributed to the derivation of the underwater connector market analysis are type, connection, and application.
- Based on the type, the underwater connector market is divided into rubber-molded, inductive coupling fluid-filled underwater mateable connectors and rigid-shell/bulk headed. The rubber-molded segment held a larger market share in 2023.
- By connection, the market is segmented into electrical, optical fiber, and hybrid. The electrical segment held a larger market share in 2023.
- By application, the market is segmented into military & defense, oil & gas, telecommunications, oceanography, ROVs/AUVs, and others.
- By vertical, the market is segmented into government & defense, BFSI, Retail, IT & telecom, healthcare, energy & utilities, education, and others.
Underwater Connector Market Share Analysis by Geography
The geographic scope of the underwater connector market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
The increase in oil and gas production in some countries in Europe is contributing to the growth of the underwater connector market. Russia is the largest supplier of natural gas and petroleum to the European Union; however, the Russian and Ukrainian wars are negatively affecting the oil & gas industry, which may slow the growth of the underwater connector market. Furthermore, a shift in business models, such as working from home, is providing an opportunity for the underwater connector market participants.
Underwater Connector Market Report Scope
Underwater Connector Market News and Recent Developments
The underwater connector market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the underwater connector market are listed below:
- MacArtney introduced the space and weight-saving ø12.7 mm SubConn® Nano, which builds on the globally trusted SubConn® design. This new Nano connector offers a versatile and robust performance, making it suitable for multiple applications and the increasingly compact design of underwater instruments, equipment, and systems. (Source: MacArtney, Press Release, March 2024)
- Connector Subsea Solutions (CSS) announced the acquisition of Norvalves AS. The acquisition supplements CSS’ Subsea Distribution portfolio with Norvalves’ range of Topside and Subsea Valves, along with key operational capabilities, including in-house design, engineering, and manufacturing. (Source: PamTen Inc, Press Release, May 2022)
Underwater Connector Market Report Coverage and Deliverables
The “Underwater Connector Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Underwater connector market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Underwater connector market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- underwater connector market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the filament LED bulb market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Connection, and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
APAC dominates the filament LED bulb market.
Rising water pollution and Increasing construction of subsea pipelines are the major factors that propel the global filament LED bulb market.
The advanced subsea system for military and commercial applications is anticipated to play a significant role in the global underwater connector market in the coming years.
The key players holding majority shares in the global underwater connector market are Brins Automates LLC, Brins Inc., Glenair, AK Industries, Fishcher Connectors SA, Gisma Steckverbinder GmbH, Hydro Group Plc., Marshall Underwater Industries, Inc., TE Connectivity, and Teledyne Marine.
The global underwater connector market is expected to reach US$ 2768.74 million by 2031.
The expected CAGR of the global underwater connector market is 5.9%.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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