The shipboard cables market size has grown rapidly in recent years. It will grow from $2.78 billion in 2024 to $3.29 billion in 2025 at a compound annual growth rate (CAGR) of 18.4%. The growth in the historic period can be attributed to maritime industry growth, safety and compliance standards, naval modernization and defense spending, increasing vessel electrification, offshore energy exploration.
The shipboard cables market size is expected to see strong growth in the next few years. It will grow to $4.2 billion in 2029 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to renewable energy integration, digitalization and connectivity requirements, adoption of electric propulsion systems, enhanced fire safety features, global trade and shipping activities. Major trends in the forecast period include adoption of lightweight and high-strength materials, integration of smart cabling solutions, rising focus on electromagnetic compatibility (EMC), advancements in insulation and jacketing materials, compliance with environmental regulations.
The growth and expansion of offshore oil & gas plants are propelling the shipboard cables market. This expansion involves the electrification of offshore oil and gas platforms, requiring efficient shipboard cables to connect the platforms to mainland power grids. An example of such development is seen in October 2022 when Abu Dhabi National Oil Company (ADNOC), based in Abu Dhabi, awarded a $1.53 billion (AED 5.62 billion) contract to ADNOC Drilling, supporting offshore activities and the goal of responsibly increasing production capacity. This aligns with the global demand for reliable, reduced carbon intensity oil and gas, thus contributing to the growth of the shipboard cables market.
The anticipated increase in global trade is set to propel the shipboard cable market. Global trade involves the exchange of goods, services, and capital across international borders, driving the demand for new vessels, infrastructure upgrades, and compliance with safety and environmental standards. As of September 2023, the United Nations Conference on Trade and Development predicts a 2.4% increase in maritime trade in 2023 and over 2% from 2024 to 2028. With the easing of pandemic constraints, the energy sector saw a 6% increase in oil trades and a 4.6% increase in gas trades in 2022. Hence, the surge in global trade acts as a driving force for the shipboard cable market.
Major companies within the shipboard cable market are responding to market demands by introducing new products such as quick ship programs to enhance customer offerings and increase revenue. A quick ship program expedites the delivery of specific products to customers. For instance, in October 2023, Siemon, a US-based cable manufacturing company, launched RapidDAC, a quick ship service for its direct attach copper cables (DACs), ensuring cost-effectiveness and prompt completion of projects demanding 10 racks or more. Siemon's commitment to quality and efficiency is demonstrated through its RapidDAC program, capable of delivering 500 DACs within five days or less, regardless of the order size. This underscores Siemon's ability to meet the urgent needs of data center deployments.
Major companies operating in the shipboard cables market include 3M Company, Eaton Corporation, Prysmian Group, TE Connectivity Inc., Nexans SA, Leoni AG, General Cable Company, OCC Corporation, Axon' Cable S.A.S., HMN Technologies Co. Ltd., Seacon Group Limited, Eland Cables Ltd., ZTT Corporation, SAB Bröckskes GmbH & Co. KG, Nuhas LLC, Belcom Cables Ltd., CABLE SOURCE PTE. LTD., WILSON CABLES PTE. LTD., Teledyne Marine Technologies, HESFIBEL, SAMCO Inc., Hengtong Optic-Electric Co. Ltd., Scorpion Oceanics Ltd., Sea and Land Technologies Pte. Ltd., Sumitomo Electric Industries Ltd., ABB Ltd., OFS Fitel LLC, Fujikura Ltd., Siemens AG, Schneider Electric SE, Yangtze Optical Fiber and Cable Joint Stock Limited Company (YOFC), Fiberhome Telecommunication Technologies Co. Ltd., Jiangsu Zhongtian Technology Co. Ltd.
The Asia-Pacific was the largest region in the shipboard cables market in 2024. North America is the second-largest region in the global insulated cables market share. The regions covered in the shipboard cables market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the shipboard cables market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The shipboard cables market consists of sales of electric shipboard cables and fiber optic shipboard cables. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
Shipboard cables refer to cables utilized in electrical installations on ships and offshore platforms, serving the purpose of transmitting electric power to panels for lighting, control circuits, and the conveyance of essential instrumentation signals. These cables are designed to be fire-resistant, flame retardant, and characterized by low smoke and halogen-free properties.
The primary categories of shipboard cables encompass fiber-optic cables and electric cables. Fiber-optic cables, also known as optical fiber cables, resemble electrical wires but house one or more optical fibers for light transmission. The cables are distinguished by different voltage specifications, including medium voltage cables and low voltage cables. The applications of shipboard cables span various sectors, including marine and offshore, oil & gas, petrochemical, and other related fields.
The shipboard cables market research report is one of a series of new reports that provides shipboard cables market statistics, including shipboard cables industry global market size, regional shares, competitors with a shipboard cables market share, detailed shipboard cables market segments, market trends and opportunities, and any further data you may need to thrive in the shipboard cables industry. This shipboard cables market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The shipboard cables market size is expected to see strong growth in the next few years. It will grow to $4.2 billion in 2029 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to renewable energy integration, digitalization and connectivity requirements, adoption of electric propulsion systems, enhanced fire safety features, global trade and shipping activities. Major trends in the forecast period include adoption of lightweight and high-strength materials, integration of smart cabling solutions, rising focus on electromagnetic compatibility (EMC), advancements in insulation and jacketing materials, compliance with environmental regulations.
The growth and expansion of offshore oil & gas plants are propelling the shipboard cables market. This expansion involves the electrification of offshore oil and gas platforms, requiring efficient shipboard cables to connect the platforms to mainland power grids. An example of such development is seen in October 2022 when Abu Dhabi National Oil Company (ADNOC), based in Abu Dhabi, awarded a $1.53 billion (AED 5.62 billion) contract to ADNOC Drilling, supporting offshore activities and the goal of responsibly increasing production capacity. This aligns with the global demand for reliable, reduced carbon intensity oil and gas, thus contributing to the growth of the shipboard cables market.
The anticipated increase in global trade is set to propel the shipboard cable market. Global trade involves the exchange of goods, services, and capital across international borders, driving the demand for new vessels, infrastructure upgrades, and compliance with safety and environmental standards. As of September 2023, the United Nations Conference on Trade and Development predicts a 2.4% increase in maritime trade in 2023 and over 2% from 2024 to 2028. With the easing of pandemic constraints, the energy sector saw a 6% increase in oil trades and a 4.6% increase in gas trades in 2022. Hence, the surge in global trade acts as a driving force for the shipboard cable market.
Major companies within the shipboard cable market are responding to market demands by introducing new products such as quick ship programs to enhance customer offerings and increase revenue. A quick ship program expedites the delivery of specific products to customers. For instance, in October 2023, Siemon, a US-based cable manufacturing company, launched RapidDAC, a quick ship service for its direct attach copper cables (DACs), ensuring cost-effectiveness and prompt completion of projects demanding 10 racks or more. Siemon's commitment to quality and efficiency is demonstrated through its RapidDAC program, capable of delivering 500 DACs within five days or less, regardless of the order size. This underscores Siemon's ability to meet the urgent needs of data center deployments.
Major companies operating in the shipboard cables market include 3M Company, Eaton Corporation, Prysmian Group, TE Connectivity Inc., Nexans SA, Leoni AG, General Cable Company, OCC Corporation, Axon' Cable S.A.S., HMN Technologies Co. Ltd., Seacon Group Limited, Eland Cables Ltd., ZTT Corporation, SAB Bröckskes GmbH & Co. KG, Nuhas LLC, Belcom Cables Ltd., CABLE SOURCE PTE. LTD., WILSON CABLES PTE. LTD., Teledyne Marine Technologies, HESFIBEL, SAMCO Inc., Hengtong Optic-Electric Co. Ltd., Scorpion Oceanics Ltd., Sea and Land Technologies Pte. Ltd., Sumitomo Electric Industries Ltd., ABB Ltd., OFS Fitel LLC, Fujikura Ltd., Siemens AG, Schneider Electric SE, Yangtze Optical Fiber and Cable Joint Stock Limited Company (YOFC), Fiberhome Telecommunication Technologies Co. Ltd., Jiangsu Zhongtian Technology Co. Ltd.
The Asia-Pacific was the largest region in the shipboard cables market in 2024. North America is the second-largest region in the global insulated cables market share. The regions covered in the shipboard cables market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the shipboard cables market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The shipboard cables market consists of sales of electric shipboard cables and fiber optic shipboard cables. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
Shipboard cables refer to cables utilized in electrical installations on ships and offshore platforms, serving the purpose of transmitting electric power to panels for lighting, control circuits, and the conveyance of essential instrumentation signals. These cables are designed to be fire-resistant, flame retardant, and characterized by low smoke and halogen-free properties.
The primary categories of shipboard cables encompass fiber-optic cables and electric cables. Fiber-optic cables, also known as optical fiber cables, resemble electrical wires but house one or more optical fibers for light transmission. The cables are distinguished by different voltage specifications, including medium voltage cables and low voltage cables. The applications of shipboard cables span various sectors, including marine and offshore, oil & gas, petrochemical, and other related fields.
The shipboard cables market research report is one of a series of new reports that provides shipboard cables market statistics, including shipboard cables industry global market size, regional shares, competitors with a shipboard cables market share, detailed shipboard cables market segments, market trends and opportunities, and any further data you may need to thrive in the shipboard cables industry. This shipboard cables market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Shipboard Cables Market Characteristics3. Shipboard Cables Market Trends and Strategies4. Shipboard Cables Market - Macro Economic Scenario Macro Economic Scenario Including the Impact of Interest Rates, Inflation, Geopolitics and Covid and Recovery on the Market32. Global Shipboard Cables Market Competitive Benchmarking and Dashboard33. Key Mergers and Acquisitions in the Shipboard Cables Market34. Recent Developments in the Shipboard Cables Market
5. Global Shipboard Cables Growth Analysis and Strategic Analysis Framework
6. Shipboard Cables Market Segmentation
7. Shipboard Cables Market Regional and Country Analysis
8. Asia-Pacific Shipboard Cables Market
9. China Shipboard Cables Market
10. India Shipboard Cables Market
11. Japan Shipboard Cables Market
12. Australia Shipboard Cables Market
13. Indonesia Shipboard Cables Market
14. South Korea Shipboard Cables Market
15. Western Europe Shipboard Cables Market
16. UK Shipboard Cables Market
17. Germany Shipboard Cables Market
18. France Shipboard Cables Market
19. Italy Shipboard Cables Market
20. Spain Shipboard Cables Market
21. Eastern Europe Shipboard Cables Market
22. Russia Shipboard Cables Market
23. North America Shipboard Cables Market
24. USA Shipboard Cables Market
25. Canada Shipboard Cables Market
26. South America Shipboard Cables Market
27. Brazil Shipboard Cables Market
28. Middle East Shipboard Cables Market
29. Africa Shipboard Cables Market
30. Shipboard Cables Market Competitive Landscape and Company Profiles
31. Shipboard Cables Market Other Major and Innovative Companies
35. Shipboard Cables Market High Potential Countries, Segments and Strategies
36. Appendix
Executive Summary
Shipboard Cables Global Market Report 2025 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on shipboard cables market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Description
Where is the largest and fastest growing market for shipboard cables? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The shipboard cables market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Type: Fiber-optic Cables; Electric Cables2) By Voltage: Medium Voltage Cable; Low Voltage Cable
3) By Applications: Marine and Offshore; Oil & Gas and Petrochemical; Other Applications
Subsegments:
1) By Fiber-Optic Cables: Single-Mode Fiber-optic Cables; Multi-Mode Fiber-Optic Cables2) By Electric Cables: Power Cables; Control Cables; Instrumentation Cables
Key Companies Mentioned: 3M Company; Eaton Corporation; Prysmian Group; TE Connectivity Inc.; Nexans SA
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
Some of the major companies featured in this Shipboard Cables market report include:- 3M Company
- Eaton Corporation
- Prysmian Group
- TE Connectivity Inc.
- Nexans SA
- Leoni AG
- General Cable Company
- OCC Corporation
- Axon' Cable S.A.S.
- HMN Technologies Co. Ltd.
- Seacon Group Limited
- Eland Cables Ltd.
- ZTT Corporation
- SAB Bröckskes GmbH & Co. KG
- Nuhas LLC
- Belcom Cables Ltd.
- CABLE SOURCE PTE. LTD.
- WILSON CABLES PTE. LTD.
- Teledyne Marine Technologies
- HESFIBEL
- SAMCO Inc.
- Hengtong Optic-Electric Co. Ltd.
- Scorpion Oceanics Ltd.
- Sea and Land Technologies Pte. Ltd.
- Sumitomo Electric Industries Ltd.
- ABB Ltd.
- OFS Fitel LLC
- Fujikura Ltd.
- Siemens AG
- Schneider Electric SE
- Yangtze Optical Fiber and Cable Joint Stock Limited Company (YOFC)
- Fiberhome Telecommunication Technologies Co. Ltd.
- Jiangsu Zhongtian Technology Co. Ltd.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 175 |
| Published | March 2025 |
| Forecast Period | 2025 - 2029 |
| Estimated Market Value ( USD | $ 3.29 Billion |
| Forecasted Market Value ( USD | $ 4.2 Billion |
| Compound Annual Growth Rate | 6.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 34 |
