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 2019 - 2024.
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.
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.
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.
Market Size Available
2018 – 2024
2019 - 2024
By Type, Connection, Application & Region
Various Analyses Covered
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities
North America, Europe, APAC, Latin America, Middle East & Africa
Market Leaders Profiled
Eaton Corporation, LEMO, Souriau , Teledyne Marine, SEACON, BIRNS AQUAMATE LLC , BIRNS, Fischer Connectors , Hydro Group Plc, Marshall Underwater Industries, Inc.
Detailed Segmentation of the Underwater Connectors Market as per the research report until 2024.
Underwater Connectors Market Analysis – By Application
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
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
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
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:
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 By Application
5.1.2 Oil & Gas
5.1.3 Military & Defense
5.1.7 Y-o-Y Growth Analysis, By Material
5.1.8 Market Attractiveness Analysis, By Material
5.1.9 Market Share Analysis, By Material
5.2 By Connection
5.2.3 Optical Fiber
5.2.5 Y-o-Y Growth Analysis, By Media
5.2.6 Market Attractiveness Analysis, By Media
5.2.7 Market Share Analysis, By Media
5.3 By Type
5.3.4 Inductive Coupling
5.3.5 Fluid-filled Underwater Mateable Connector
5.3.6 Y-o-Y Growth Analysis, By Industry
5.3.7 Market Attractiveness Analysis, By Industry
5.3.8 Market Share Analysis, By Industry
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
184.108.40.206 By Geographical Area
220.127.116.11 By Application
18.104.22.168 By Connection
22.214.171.124 By Type
6.1.4 Market Attractiveness Analysis
126.96.36.199 By Geographical Area
188.8.131.52 By Application
184.108.40.206 By Connection
220.127.116.11 By Type
6.1.5 Market Share Analysis
18.104.22.168 By Geographical Area
22.214.171.124 By Application
126.96.36.199 By Connection
188.8.131.52 By Type
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Eaton Corporation
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.4 Teledyne Marine
8.6 BIRNS AQUAMATE LLC
8.7 BIRNS, Inc
8.8 Fischer Connectors SA
8.9 Hydro Group Plc.
8.10 Marshall Underwater Industries, Inc.
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures
Underwater Connectors Market List of Table ............