Underwater Connectors Market

Underwater Connectors Market Size, Trends & Forecast (2021 - 2026)

According to our latest research report, the Underwater Connectors market size is estimated at a decent growth in CAGR of 5.4% between the forecast period of 2021 - 2026.

Underwater connectors help to install and connecting the electrical or optical circuits underwater. These connectors help to terminate oil-filled hose or cables, which contains optical fibers or conductors of electricity.

Underwater connectors are being manufactured since the 1950s to facilitate SONAR networks through power cables by interconnecting them. Then with the technological advancements over the years, they have been developed as a thriving market, and there has also been an increase in the acquisition of patents. Underwater connectors are considered as one of the bridges to progress in industries like military and defense, oil and gas, oceanographic, and other industries, as they make it easier to conduct onshore and offshore testing, and manage cable assemblies. 

Driving Factors

Major factors that are boosting the economy of underwater connectors are increased number of manufacturing units equipped with high-end technologies, organized network of distribution, and rise in investments in industries like oil and gas, fish farming, and commercial purposes, high performance even under extreme weather conditions, and the increase in demand for energy across the world leading to rise in exploration activities of oil and gas.

Major Restraints

Significant challenges faced by the underwater connectors market are a reduction in the performance of offshore applications due to corrosion of materials, fracture of equipment due to pressure variation in between surfaces resulting in a low life span of the connectors, maintaining continuous power supply and connection while transferring data during severe environmental conditions. 

Potential Opportunities

• The underwater market is consistently growing and expected to continue the trend over the forecast period with the emergence of a wide range of applications that are depending upon underwater connectors. 
• Companies that are involved in this market are launching innovative and attractive products to increase their economy.

Recent developments:

• A new underwater connector called SWIM by Souriau in the year 2018, which is applied under the water with depth up to 300 meters to carry out operations like maritime surveillance, oil exploration, weather buoys, and also for commercial purposes like scuba diving, deep-sea diving, snorkeling.  
• Subsea Supplies manufactured cable assemblies and in particular, connectors using BURTON Subsea, which were licensed by the Eaton group in 2018. 
• Hydra Group plc has launched rubber-molded subsea connectors with five variants in 2019, which are used in a wide range of applications.
• SEACON’s launched rubber-molded connectors to meet the growing demands on these connectors in a variety of underwater applications.

REPORT COVERAGE

Detailed Segmentation of the Underwater Connectors Market as per the research report until 2024.

Underwater Connectors Market Analysis – By Application

• Oil & Gas
• Military & Defense
• Telecommunications
• ROVs/UAVs
• Oceanographic
• Others

On the basis of Application, the oil and gas market segment are dominating the underwater connectors market due to their resistance to harsh environments, seismic waves, and high pressure and an increase in demand for energy that resulted in an increased number of oil and gas explorations in several countries. The underwater connectors are necessary to transmit power and data under the water to shore as it provides efficient connectivity and high productivity in oil and gas exploration.

Underwater Connectors Market Analysis – By Connection

• Electrical             
• Optical Fiber      
• Hybrid  

On the basis of Connection, the electrical type holds a significant share in the market due to a high number of investments and distribution networks and an increasing demand for commercial activities. The hybrid model is expected to grow due to increased R&D in the field and the number of innovations as it is cost-effective and delivers high efficiency in performance. 

Underwater Connectors Market Analysis – By Manufacturing Type

• Rubber-molded
• Rigid-shell/Bulk-headed
• Inductive Coupling
• Fluid-filled Underwater Mateable Connector

On the basis of Manufacturing Type, the Rubber molded market segment is ruling the market due to its value for investment in a variety of industries. Investments are growing as rubber molded connectors are applicable for underwater ROV systems, diver communication, lights and cameras, towed array cable systems. Due to the increased number of innovations and product launches, this market segment is overgrowing.

Underwater Connectors Market Analysis – By Region

This Underwater Connectors Market Report includes the segmentation of Regions with respective Countries.

• North America Underwater Connectors Market includes U.S, Canada
• Europe Underwater Connectors Market includes the UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic & Rest of Europe
• Asia Pacific Underwater Connectors Market includes India, China, Japan, South Korea, Australia & New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore & Rest of APAC
• Latin America Underwater Connectors Market includes Brazil, Mexico, Argentina, Chile & Rest of LATAM
• Middle East & Africa Underwater Connectors Market includes KSA, UAE, Israel, rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan, rest of MEA

On the basis of Region, North America is dominating the market with the highest CAGR and is followed by the Middle East as it possesses an enormous amount of oil and gas resources. Europe is emerging as a significant competitor with a CAGR of 4.4% due to rising offshore exploration activities of oil and gas, which has led to the demand for underwater connectors that are delivering high efficiency and productivity of subsea systems.

Some of the Prominent Key Players Mentioned in the underwater connectors market report are:

1. Eaton Corporation
2. LEMO                   
3. Souriau
4. Teledyne Marine                            
5. SEACON              
6. BIRNS AQUAMATE LLC                 
7. BIRNS, Inc                          
8. Fischer Connectors SA                  
9. Hydro Group Plc.                             
10. Marshall Underwater Industries, Inc.