Underwater Power Connectors Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025

Underwater Power Connectors Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025

  • Transparency Market Research
  • Ongoing
  • Power

Report Description

The global energy landscape is changing with consumer needs. Demand for energy is driven by emerging markets. The overall energy blend is driven by environmental concerns and technological improvements. Demand for energy is expected to expand at a constant pace, due to the increase growth in economy of emerging economies. This is lending to a rise in the income of people. Currently, the increase in demand for energy is anticipated to be more from developed geographies.

It has become important to ensure that oil & gas industry activities cause the minimal damage to the environment. Of late, the search for oil has led to operations in deep water areas by mobile offshore drilling units. Drilling at such deep places creates a demand for equipment, particularly that for cable and connectors that link subsea operations to the surface. Underwater power connectors play an important role in addressing the underwater connector system with high reliability and improved condition assessment. Underwater power connectors are devices that allow an electrical current to pass through for the exclusive purpose of providing power to a device.

Offshore installations such as oil and gas production platforms, drilling rigs, offshore wind energy facilities, and ocean wave energy facilities need to transfer considerable electrical power for electric motors and connection outputs from electrical generators. Underwater power connectors are designed to connect power in applications that include equipment placed on the ocean floor. Underwater application areas that require underwater power connectors are offshore oil and gas, renewable energy and subsea systems, defense systems and equipment, oceanographic systems, equipment and instrumentation solutions, remotely operated vehicles, and remotely operated towed vehicle systems. Other major equipment using power connectors are underwater camera, video and lighting systems, ocean bottom seismic systems, and diving systems. Underwater power connectors are also used for cables and connectors for port and harbor security areas.

The underwater power connectors market can be segmented based on voltage, current rating, and type. In terms of type, the market can be divided into three types: alternating current, direct current, and wireless power connectors. The alternating current segment dominates the market in major applications.

In terms of geography, the underwater power connectors market can be segmented into North America, Middle East & Africa, Asia Pacific, and Europe. North America leads the global underwater power connectors market in terms of demand. The market in the region is dominated by the U.S., due to high oil and gas production and consumption in the country along with wide network of pipelines of projects.

Demand for underwater power connectors in Europe and Asia Pacific is likely to increase in the next few years, owing to the rise of new production centers. Of late, these regions have become a hub for new oil and gas projects. This is boosting the demand for underwater power infrastructure setups. The market in other regions such as Middle East & Africa is witnessing significant growth, owing to the increase in the number of oil and gas exploration and production projects and implementation of stringent environmental regulations.

Key players operating in the global underwater power connectors market are Hydro Group plc, EATON, SEACON, TELEDYNE MARINE, Cooper Interconnect Inc., Sea and Land Technologies Pte. Ltd., Nautic Expo, Amphenol, OCEAN INNOVATIONS, Esterline Connection Technologies, and BIRNS.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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