Wilmington, Delaware, United States, July 18, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global underwater connectors market was valued at US$ 1.3 Bn in 2022. It is projected to expand at a CAGR of 10.6% from 2023 to 2031. Expanding fleet of underwater vehicles and increase in integration of technology in underwater vehicles are fueling the underwater connectors market.
Increase in adoption of remotely operated vehicles (ROVs) and autonomous underwater vehicles (AUVs) is anticipated to create market demand for underwater connectors in the next few years.
Underwater connectors are used for science and research projects in the deep sea. The military, diving equipment manufacturers, manufacturers of autonomous underwater vehicles, and government agencies are key consumers of underwater connectors or marine connectors.
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Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | US$ 1.3 Bn | |
| Estimated Value | US$ 3.1 Bn | |
| Growth Rate - CAGR | 10.6% | |
| Forecast Period | 2022-2031 | |
| No. of Pages | 255 Pages | |
| Market Segmentation | By Type, Sealing, Connection, Material, Application, End-use Industry | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, South America | |
| Companies Covered | AMETEK.Inc., Amissiontech Co.,Ltd, Amphenol Corporation, Eaton, Fischer Connectors SA, GISMA Steckverbinder GmbH, Hydro Group, MacArtney A/S, OTAQ Group, Siemens AG, TE Connectivity, Teledyne Technologies Incorporated | |
Key Findings of Study
Expansion of Underwater Fiber Optic Network to Fuel Market Growth – Excessively high volume of data, including emails, phone calls, and encrypted military secrets is transmitted over kilometers of fiber optic cable that is laid at the bottom of the oceans.
Continuous increase in Internet traffic is prompting some of the world’s biggest technology companies to invest in subsea cable lines in order to cater to the demand for increased bandwidth and faster connectivity.
Submarine or subsea communication systems consists of a network of underwater cables and other supporting equipment that allows long-distance transmission of voice and data signals under the surface of the ocean.
The connectivity between places on the Earth depends on these networks. Therefore, the transmission equipment is designed for long-distance transfer of data and includes various components, among them underwater connectors are critically important. Consequently, expansion of fiber optic network in the ocean beds is anticipated to drive market development in the next few years.
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Surge in Adoption of Undersea Robotics to Boost Market Value – Remotely operated vehicles (ROVs) and autonomous underwater vehicles (AUVs) are deployed to address the myriad issues experienced by the marine industry.
Technological advancements in ROVs and unmanned undersea vehicles (UUVs) have led to their increased applications for military use. Thus, rise in adoption of undersea robotics is expected to fuel the underwater connector market expansion in the near future.
Plans of some large marine robotics company to expand operations is fueling underwater connectors market statistics. For instance, Ocean Infinity added six more AUVs to its fleet in 2022. The vessels are expected to complement the company’s current AUV fleet, which operate at 6,000 meters of depth.
Significant Demand for Wet-Mate Connectors – The wet-mateable connectors segment is anticipated to account for significant share of the underwater connectors market during the forecast period. Underwater wet-mateable connections are used in numerous applications, such as in offshore renewable energy, oil & gas industry, and undersea observatories, in order to reduce the time and cost of installation, maintenance, and reconfiguration.
Oil & gas exploration and production require large number of wet-mateable connectors with high voltage rates that can operate at depths of 3000 m.
Growth Drivers
- Expansion of underwater fiber optic network in order to cater to the increasing volume of Internet traffic is fueling the underwater connectors market
- Increase in automation of the oil & gas industry is augmenting market growth
Regional Landscape
North America is a key underwater connectors market, led by the U.S. The U.S. is home to established oil & gas and marine service industries that are key end-users of underwater connectors. Furthermore, technologically advanced operations in the military and navy contribute significantly to the market growth in the U.S.
Competitive Analysis
The global industry is consolidated, with the presence of some well-established players who control majority of market share. Companies in the underwater connectors market are engaging in R&D activities for the development of new connector designs and to cater to the demand for customized products.
Prominent players in the underwater connectors market include AMETEK Inc., Amphenol Corporation, Fischer Connectors SA, Hydro Group, and Siemens AG.
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The underwater connectors market has been segmented as follows:
Global Underwater Connectors Market, by Type
- Dry-Mateable Connectors
- Wet-Mateable Connectors
- Others
Global Underwater Connectors Market, by Sealing
- Rubber-molded
- Rigid shell
- Fluid-filled
- Inductive Couplings
Global Underwater Connectors Market, by Connection
- Electrical
- Optical Fiber
- Hybrid
Global Underwater Connectors Market, by Material
- Stainless Steel
- Titanium
- Polymer
Global Underwater Connectors Market, by Application
- Oil & Gas Exploration
- Offshore wind Energy
- Submarine Systems
- ROV/AUV
- Underwater Communication Infrastructure
- Underwater Observatories
- Others
Global Underwater Connectors Market, by End-use
- Oil & Gas
- Military & Defense
- IT& Telecommunication
- Energy & Utility
- Others
Global Underwater Connectors Market, by Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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