Dublin, Dec. 27, 2022 (GLOBE NEWSWIRE) -- The "Europe Underwater Connector Market Forecast to 2028 - COVID-19 Impact and Regional Analysis - by Type, Connection, and Application" report has been added to ResearchAndMarkets.com's offering.
The underwater connector market in Europe is expected to grow from US$ 547.47 million in 2022 to US$ 812.93 million by 2028; it is estimated to grow at a CAGR of 6.8% from 2022 to 2028.
The growing investment in new technologies is the major factor driving the Europe underwater connector market. Industries are integrating new technologies and using different raw materials to produce new underwater connectors with improved performance and durability in underwater conditions. Various carriers and network firms require high-speed data transmission systems, which demand the use of modern undersea cable connectors. Integrating new technologies increases the demand for underwater cable connectors as undersea mining and oil exploration become more common.
For instance, NiobiCon is a novel type of underwater electrical connection that allows for power and data transfer without the use of seals, oil, or moving parts. This technology was created to solve the inefficiency of the underwater recharging of autonomous vehicles. The niobium connector develops its own thin isolating layer when it comes into contact with water, which is scraped off when the connection is completed. The layer regenerates immediately after being unplugged.
Northrop Grumman engineers developed the technique to establish a safe, dependable, and economical means to link electric currents in a wet or corrosive environment while keeping the power flowing. Moreover, the investment in new technology by government and private institutes has increased.
With the increase in government and private investments in research and development activities, underwater connectors are used in offshore, geophysical, oil and gas, oceanographic, and marine defense applications operated by research, commercial, and defense organizations. As a result, the underwater connector market is expected to grow rapidly over the forecast period.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe underwater connector market. The Europe underwater connector market is expected to grow at a good CAGR during the forecast period.
Europe Underwater Connector Market Segmentation
The Europe underwater connector market is segmented into type, connection, application, and country.
- Based on type, the Europe underwater connector market is segmented into rubber-molded, inductive coupling, fluid-filled underwater mateable connector, and rigid-shell/bulk headed. The rubber-molded segment led the market in 2022.
In terms of connection, the Europe underwater connector market is segmented into electrical, optical fiber, and hybrid. The electrical segment dominated the market in 2022.
- Based on application, the underwater connector market is segmented into military & defense, oil & gas, telecommunications, oceanography, ROVs/AUVs, and others. The telecommunications segment held the largest share in 2022.
- Based on country, the Europe underwater connector market is segmented into France, Germany, Italy, the UK, Russia, and the Rest of Europe. Russia held the largest market share in 2022.
Market Dynamics
Market Drivers
- Rise in Oil & Gas Usage Across Europe
- Enhanced Subsea Systems for Commercial and Military Applications
Market Restraints
- Strict Environmental Regulations
Market Opportunities
- Growing Investment in New Technologies
| Report Attribute | Details |
| No. of Pages | 118 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $547.47 Million |
| Forecasted Market Value (USD) by 2028 | $812.93 Million |
| Compound Annual Growth Rate | 6.8% |
| Regions Covered | Europe |
Key Topics Covered:
1. Introduction
2. Key Takeaways
3. Research Methodology
4. Europe Underwater Connector Market Landscape
5. Europe Underwater Connector Market - Key Market Dynamics
6. Underwater Connector Market - Europe Analysis
7. Europe Underwater Connector Market Analysis - By Type
8. Europe Underwater Connector Market - By Connection
9. Europe Underwater Connector Market - By Application
10. Europe Underwater Connector Market - Country Analysis
11. Industry Landscape
12. Company Profiles
13. Appendix
Companies Mentioned
- Fishcher Connectors SA
- Gisma Steckverbinder GmbH
- Glenair
- Hydro Group Plc.
- TE Connectivity
- Teledyne Marine
For more information about this report visit https://www.researchandmarkets.com/r/pbf2b0
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