The Europe submarine cable systems market was valued at US$ 2,027.11 million in 2022 and is expected to reach US$ 4,301.04 million by 2030; it is estimated to register a CAGR of 9.9% from 2022 to 2030.
The increasing demand for transmitting energy over long distances, including wide and deep-water bodies, necessitates the integration of renewable energy sources. As the installation of submarine cable systems rises, there is a growing need for efficient power transmission and reduced dissipative losses. High-voltage direct current (HVDC) submarine power cables offer various advantages over conventional high-voltage alternating current (HVAC) technologies, making them a preferred choice for efficient power transmission. HVDC power transmission technology is rapidly evolving, enabling the transfer of electrical power from offshore power generation sites to the mainland. This technology is particularly beneficial for integrating renewable energy sources and reducing dissipative losses in submarine cable systems. Thus, the growing number of projects based on HVDC power transmission technology is likely to create new opportunities in the submarine cable systems market during the forecast period.
The Europe submarine cable systems market is segmented into the UK, Germany, France, Italy, Russia, and the Rest of Europe. The increasing adoption of mobile devices and cloud-based services in Europe has led to a surge in data consumption. This, in turn, has created a need for robust and high-capacity communication networks. Submarine cable systems play a crucial role in meeting this demand by providing reliable and high-speed connectivity between different European countries and regions. Moreover, Europe has witnessed a significant boost in data center activities, driven by the growing demand for big data analytics, cloud computing, and digital services. Data centers require efficient and secure connectivity to ensure seamless data transfer and access. Submarine cable systems enable the interconnection of data centers across different countries, facilitating the efficient transfer of data and supporting the growth of the digital economy. Europe is a hub for international trade and collaboration, with businesses and organizations requiring reliable and efficient communication infrastructure. Submarine cable systems facilitate seamless communication and data transfer between European countries and their global partners, supporting international trade, research collaborations, and multinational operations.
The Europe submarine cable systems market is categorized into services, cable capacity, application, type, and country.
Based on services, the Europe submarine cable systems market is bifurcated into installation services and maintenance & upgrade services. The installation services segment held a larger market share in 2022.
In terms of cable capacity, the Europe submarine cable systems market is segmented into less than 10 Tb/S, 10-20 Tb/S, 20-30 Tb/S, and more than 30 Tb/S. The 20-30 Tb/S segment held the largest share of Europe submarine cable systems market in 2022.
By application, the Europe submarine cable systems market is bifurcated into communication and energy & power. The communication segment held a larger share of Europe submarine cable systems market in 2022.
Based on type, the Europe submarine cable systems market is bifurcated into single core and multi-core. The single core segment held a larger share of Europe submarine cable systems market in 2022.
By country, the Europe submarine cable systems market is segmented into Germany, the UK, France, Italy, Russia, and the Rest of Europe. The UK dominated the Europe submarine cable systems market share in 2022.
Sumitomo Electric Industries Ltd; SubCom, LLC; Prysmian SpA; Alcatel Submarine Networks; Nexans SA; NEC Corp; Mitsubishi Electric Corp; Fujitsu Ltd; Vodafone Group Plc; and HMN Technologies Co., Ltd. are some of the leading companies operating in the Europe submarine cable systems market.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 2,027.11 Million |
| Market Size by 2030 | US$ 4,301.04 Million |
| CAGR (2022 - 2030) | 9.9% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2030 |
| Segments Covered |
By Services
|
| Regions and Countries Covered |
Europe
|
| Market leaders and key company profiles |
|
1. Sumitomo Electric Industries Ltd
2. SubCom, LLC
3. Prysmian SpA
4. Alcatel Submarine Networks
5. Nexans SA
6. NEC Corp
7. Mitsubishi Electric Corp
8. HMN Technologies Co., Ltd.
9. Fujitsu Ltd
10. Vodafone Group Plc
The Europe Submarine Cable Systems Market is valued at US$ 2,027.11 Million in 2022, it is projected to reach US$ 4,301.04 Million by 2030.
As per our report Europe Submarine Cable Systems Market, the market size is valued at US$ 2,027.11 Million in 2022, projecting it to reach US$ 4,301.04 Million by 2030. This translates to a CAGR of approximately 9.9% during the forecast period.
The Europe Submarine Cable Systems Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Submarine Cable Systems Market report:
The Europe Submarine Cable Systems Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Submarine Cable Systems Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Submarine Cable Systems Market value chain can benefit from the information contained in a comprehensive market report.
Please tell us your area of interest
(Market Segments/ Regions and Countries/ Companies)
E 1803, Panchshil Towers,
Wagholi, Haveli,
Pune - 412207,
Maharashtra, India
US:+16467917070
sales@businessmarketinsights.com
Get Free Sample For Europe Submarine Cable Systems Market
