Electric Submersible Cable Trends and Forecast
The future of the global electric submersible cable market looks promising with opportunities in the oil & gas, agriculture, mining, and construction markets. The global electric submersible cable market is expected to reach an estimated $5.7 billion by 2030 with a CAGR of 4.1% from 2024 to 2030. The major drivers for this market are growing demand for renewable energy resources, continual infrastructural development, and rapid expansion of subsea communication network.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Electric Submersible Cable by Segment
The study includes a forecast for the global electric submersible cable by cable type, insulation, application, and region.
Electric Submersible Cable Market by Cable Type [Shipment Analysis by Value from 2018 to 2030]:
• ESP Flat Power Cable
• ESP Round Power Cable
Electric Submersible Cable Market by Insulation [Shipment Analysis by Value from 2018 to 2030]:
• Polypropylene
• Ethylene Propylene Diene Monomer (EPDM)
Electric Submersible Cable Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Oil & Gas
• Agriculture
• Mining
• Construction
• Others
Electric Submersible Cable Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Electric Submersible Cable Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies electric submersible cable companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the electric submersible cable companies profiled in this report include-
• Schlumberger
• Siemens
• Baker Hughes
• Superstar
• Nexans
Electric Submersible Cable Market Insights
Electric Submersible Cable Market Insights
Lucintel forecasts that ESP round power cable is expected to witness the highest growth over the forecast period due to its greater efficiency, flexibility, durability, and established industry standards.
Within this market, oil and gas is expected to witness the highest growth due to increasing use of electric submersible cables in this sector for mining, control circuits, and temporary power.
North America is expected to witness highest growth over the forecast period.
Features of the Global Electric Submersible Cable Market
Market Size Estimates: Electric submersible cable market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Electric submersible cable market size by cable type, insulation, application, and region in terms of value ($B).
Regional Analysis: Electric submersible cable market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different cable types, insulations, applications, and regions for the electric submersible cable market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the electric submersible cable market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the electric submersible cable market size?
Answer: The global electric submersible cable market is expected to reach an estimated $5.7 billion by 2030.
Q2. What is the growth forecast for electric submersible cable market?
Answer: The global electric submersible cable market is expected to grow with a CAGR of 4.1% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the electric submersible cable market?
Answer: The major drivers for this market are growing demand for renewable energy resources, continual infrastructural development and rapid expansion of subsea communication network.
Q4. What are the major segments for electric submersible cable market?
Answer: The future of the electric submersible cable market looks promising with opportunities in the oil & gas, agriculture, mining, and construction markets.
Q5. Who are the key electric submersible cable market companies?
Answer: Some of the key electric submersible cable companies are as follows:
• Schlumberger
• Siemens
• Baker Hughes
• Superstar
• Nexans
Q6. Which electric submersible cable market segment will be the largest in future?
Answer: Lucintel forecasts that ESP round power cable is expected to witness the highest growth over the forecast period due to its greater efficiency, flexibility, durability, and established industry standards.
Q7. In electric submersible cable market, which region is expected to be the largest in next 5 years?
Answer: North America is expected to witness highest growth over the forecast period.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the electric submersible cable market by cable type (esp flat power cable and ESP round power cable), insulation (polypropylene and ethylene propylene diene monomer (epdm)), application (oil & gas, agriculture, mining, construction, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Electric Submersible Cable Market, Electric Submersible Cable Market Size, Electric Submersible Cable Market Growth, Electric Submersible Cable Market Analysis, Electric Submersible Cable Market Report, Electric Submersible Cable Market Share, Electric Submersible Cable Market Trends, Electric Submersible Cable Market Forecast, Electric Submersible Cable Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.