Shipboard Cables Market Sees Growth Amid Expansion of Offshore Oil & Gas Plants

Strategic Insights -

The global Shipboard Cables market is driven by the increase and expansion of offshore oil & gas plants, with the electrification of offshore oil and gas platforms being a key factor in the demand for shipboard cables. The report highlights the impact of COVID-19 on the market, including supply chain disruptions and logistical challenges, as well as markets that have been positively affected by the pandemic.

Key Takeaways:

  • The global Shipboard Cables market size is expected to grow from $5.8 billion in 2015 to $7.2 billion in 2023, with a compound annual growth rate (CAGR) of 3.1%.
  • The market is segmented into two types: fiber-optic cables and electric cables, with fiber-optic cables being the larger segment, accounting for 72.1% of the market share in 2019.
  • The market is also segmented by application, with marine and offshore being the largest segment, accounting for 44.5% of the market share in 2019.
  • The report highlights the importance of the market in different regions, including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
  • The expansion of offshore oil and gas plants is driving the shipboard cables market, with the electrification of offshore oil and gas platforms being a key factor in the demand for shipboard cables.
  • The report also provides an analysis of the competitive landscape, including key mergers and acquisitions, and company profiles of major players such as Belden, SAB Cable, and FSC Global.
  • The report highlights the impact of COVID-19 on the market, including supply chain disruptions and logistical challenges, as well as markets that have been positively affected by the pandemic.

Statistics:

  • Global Shipboard Cables market size grew from $5.8 billion in 2015 to $6.3 billion in 2019, with a CAGR of 2.5%.
  • Fiber-optic cables accounted for 72.1% of the market share in 2019, with a CAGR of 3.5%.
  • The marine and offshore segment accounted for 44.5% of the market share in 2019, with a CAGR of 3.1%.
  • The report provides a detailed analysis of the regional market, including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
  • The global Shipboard Cables market is expected to reach $7.2 billion by 2023, with a CAGR of 3.1%.

Sources:

  • The Business Research Company, Shipboard Cables Global Market Report 2020 (August 2020)
  • The Business Research Company, Shipboard Cables Market Characteristics (2020)
  • The Business Research Company, Shipboard Cables Market Size And Growth (2020)
  • The Business Research Company, Shipboard Cables Market Segmentation (2020)
  • The Business Research Company, Shipboard Cables Market Regional And Country Analysis (2020)
  • The Business Research Company, Shipboard Cables Market Competitive Landscape And Company Profiles (2020)
  • The Business Research Company, Shipboard Cables Market Trends And Strategies (2020)
  • The Business Research Company, Shipboard Cables Market Future Outlook and Potential Analysis (2020)