The Europe submarine cable systems market was valued at US$ 2.02 billion in 2022 and is expected to reach US$ 4.30 billion by 2030; it is estimated to register a CAGR of 9.9% from 2022 to 2030.
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.
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.
Growing Number of Projects Based on HVDC Power Transmission Technology Drive Europe Submarine Cable Systems Market
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.
Europe Submarine Cable Systems Market Overview
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.
Europe Submarine Cable Systems Market Revenue and Forecast to 2030.US$ Million)
Europe Submarine Cable Systems Market Segmentation
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.
Table of Contents
1. Introduction
2. Executive Summary
3. Research Methodology
4. Submarine Cable Systems Market Landscape
5. Europe Submarine Cable Systems Market - Key Market Dynamics
6. Submarine Cable Systems Market - Europe Market Analysis
7. Europe Submarine Cable Systems Market Analysis - by Services
8. Europe Submarine Cable Systems Market Analysis - by Cable Capacity
9. Europe Submarine Cable Systems Market Analysis - by Application
10. Europe Submarine Cable Systems Market Analysis - by Type
11. Europe Submarine Cable Systems Market - Country Analysis
12. Industry Landscape
13. Company Profiles
14. Appendix
Companies Mentioned
- Sumitomo Electric Industries Ltd
- SubCom, LLC
- Prysmian SpA
- Alcatel Submarine Networks
- Nexans SA
- NEC Corp
- Mitsubishi Electric Corp
- HMN Technologies Co., Ltd.
- Fujitsu Ltd
- Vodafone Group Plc
