Underwater Connectors Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Underwater Connectors Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Underwater Connectors Market

The underwater connectors market size was valued at USD 1.61 billion in 2020, and the market is now projected to grow from USD 1.66 billion in 2021 to USD 2.45 billion by 2028, exhibiting a CAGR of 6.01% during the forecast period of 2021-2028.

The market was severely affected by the COVID-19 outbreak, and fluctuating defense budgets, an unfavorable market climate, and disrupted supply chains impacted it. These factors contributed to the postponed of projects and decrease in expenditure on the different fields. Due to this most industries experienced some difficulties in trying to carry out their production and fulfilling the needs of their customers. Though it will remain somewhat lower due to the conditions caused by the COVID-19 pandemic, the market should grow as conditions improve post-vaccination.

In the last ten years, the interest in manned and unmanned submersible vehicles has fostered analysis and creation of enhanced communication and detection tools. This has resulted in revitalization of ageing subsurface assets and procurement of new underwater platforms for patrols, border security and ISR. These advancements are now proving essential in boosting operational outcomes as nations pay proportions of premium to maritime security. The increasing need for such technologies is likely to rise as the years progress.

Specifically, there is a growing demand for underwater connectors due to growing utilization of subsea structures and high usage of subsea kits for purpose such as telecommunication cables, scientific research, and mining among others. Rubber molded connectors have gained popularity because of their robust characteristics and relatively low prices. In the year 2019, Hydro Group introduced the new range of URM connectors which includes different sizes, combinations, and voltages of rubber molded connectors for underwater. These connectors are easy to install and made from the best materials to ensure they can work well in the toughest underwater environments.

Comprehensive Analysis of Underwater Connectors Market

The underwater connectors market growth is rising at an exponential rate due to its market segmentation. This market expansion rightly presents a detailed local analysis based on the forces such as supply and demand which define the industry. These segmentations are methodically segregated by type analysis, by application analysis, and by connection analysis. By type analysis include rigid shell, inductive coupling, rubber molded, and electrical mateable. By application analysis include oil & gas, defense, Unmanned Underwater Vehicles (UUVs), telecommunication, and oceanography. By connection analysis include electrical, optical fiber, hybrid.

The North America region lead the underwater connectors market share by benefitting a market size of USD 546.6 million in 2020 due to rising number of subsurface fleet and submarine.

The top players have a significant responsibility in the aerospace & defence industry for confirming industrial prospectus growth and determining the market trends. These players include, Amphenol Corporation, BIRNS AQUAMATE LLC, BIRNS Inc., C.R.Encapsulation Limited, Eaton, Fischer Connectors SA, Hydro Group, LEMO, Oceaneering International, Inc., TE Connectivity, Teledyne Marine. these market players provide a level-playing competitive landscape.

In August 2019, AMETEK SCP signed a USD 7 million contract with its international partner to provide cable assemblies, hull penetrators, and related equipment for upcoming construction activities and deep maintenance spares.

Segmentation Table

ATTRIBUTE

DETAILS

Study Period

2017-2028

Base Year

2020

Estimated Year

2021

Forecast Period

2021-2028

Historical Period

2017-2019

Unit

Value (USD Billion)

Segmentation

By Type, Application, Connection, and Geography

By Type

Rigid Shell

Inductive Coupling

Rubber Molded

Electrical Mateable

By Application

Oil & Gas

Defense

Unmanned Underwater Vehicles (UUVs)

Telecommunication

Oceanography

By Connection

Electrical

Optical Fiber

Hybrid

By Geography

North America (Type, Application, Connection, and Country)

• U.S. (By Type)
• Canada (By Type)

Europe (Type, Application, Connection, and Country)

• U.K. (By Type)
• Germany (By Type)
• France (By Type)
• Russia (By Type)
• Rest of Europe (By Type)

Asia Pacific (Type, Application, Connection, and Country)

• China (By Type)
• India (By Type)
• Japan (By Type)
• South Korea (By Type)
• Rest of Asia Pacific (By Type)

Rest of the World (Type, Application, Connection, and Sub-Region)

• Middle East & Africa (By Type)
• Latin America (By Type)

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