Overview and Scope
Shipboard cables are defined as cables used for electrical installations in ships and offshore platforms for the transfer of electric power to electric panels for lighting, control circuits, and the transmission of vital instrumentation signals. They are fire-resistant, flame retardant, low smoke & halogen‐free cables.
Sizing and Forecast
The shipboard cables market size has grown strongly in recent years. It will grow from $2.58 billion in 2023 to $2.71 billion in 2024 at a compound annual growth rate (CAGR) of 5.2%. 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 rapid growth in the next few years. It will grow to $4.14 billion in 2028 at a compound annual growth rate (CAGR) of 11.2%. 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.
Order your report now for swift delivery, visit the link:
https://www.thebusinessresearchcompany.com/report/shipboard-cables-global-market-report
Segmentation & Regional Insights
The shipboard cables market covered in this report is segmented –
1) By Type: Fiber-optic Cables, Electric Cables
2) By Voltage: Medium Voltage Cable, Low Voltage Cable
3) By Applications: Marine And Offshore, Oil & Gas And Petrochemical, Other Applications
The Asia-Pacific was the largest region in the shipboard cables market in 2023. 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.
Intrigued to explore the contents? Secure your hands-on a free sample copy of the report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=2801&type=smp
Major Driver Impacting Market Growth
The increase and the expansion of offshore oil & gas plants are driving the shipboard cables market. The expansion of offshore oil & gas plants includes electrification of offshore oil and gas platforms which involves the use of efficient shipboard cables to connect oil platforms to mainland power grids. For instance, in October 2022, Abu Dhabi National Oil Company (ADNOC), a Abu Dhabi-based oil company, has awarded a contract worth $1.53 billion (AED 5.62 billion) for ADNOC Drilling. The contract supports ADNOC’s offshore activities and its goal of responsibly increasing production capacity and meeting the growing global demand for reliable, reduced carbon intensity oil and gas. Therefore, the development of offshore oil & gas projects is projected to support the shipboard cables market growth.
Key Industry Players
Major companies operating in the shipboard cables market report are 3M Company, Fujitsu Limited, Eaton Corporation, Prysmian Group, TE Connectivity Inc., CommScope Holding Company Inc., Nexans SA, Leoni AG, General Cable Company, Molex LLC, Belden Inc., OCC Corporation, Axon’ Cable S.A.S., HMN Technologies Co. Ltd., Seacon Group Limited, Shoal Group Ltd., 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., Sterlite Technologies Limited, 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 shipboard cables market report table of contents includes:
1. Executive Summary
2. Shipboard Cables Market Characteristics
3. Shipboard Cables Market Trends And Strategies
4. Shipboard Cables Market – Macro Economic Scenario
5. Global Shipboard Cables Market Size and Growth
.
.
.
32. Global Shipboard Cables Market Competitive Benchmarking
33. Global Shipboard Cables Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Shipboard Cables Market
35. Shipboard Cables Market Future Outlook and Potential Analysis
36. Appendix
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
