Press release
Electric Submersible Cables Market Size Forecasted To Achieve $6.03 Billion By 2029 With Steady Growth
Electric Submersible Cables Market Size
What Is the Electric Submersible Cables Market Size and Projected Growth Rate?
In recent times, the electric submersible cables market has seen robust growth. The market size is set to escalate, going up from $4.89 billion in 2024 to around $5.07 billion by 2025, growing at a compound annual growth rate (CAGR) of 3.6%. This growth during the historical period can be tied back to factors such as oil and gas exploration initiatives, mounting offshore oil production, renewable energy projects, expansion in subsea mining operations, and a surge in subsea connectivity demand.
The market for electric submersible cables is projected to experience consistent expansion in the years to come, with it reaching a value of $6.03 billion in 2029, demonstrating a compound annual growth rate (CAGR) of 4.4%. The upswing during the forecasted period can be associated with factors such as deep-sea exploration and production, the increase in offshore wind energy capacities, advancements in undersea technologies, broadened subsea tracking and sensing, and the influx of subsea electrification development projects. The forecast period will also witness key trends such as enhanced investments in infrastructure for renewable energy, demand for cables with high voltage and capacity, improved technology for cable monitoring and maintenance, emphasis on sustainable and eco-friendly materials, and submarine power grid interconnections.
Purchase the full report for exclusive industry analysis:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=12403
What Are the Major Segments in the Electric Submersible Cables Market?
The electric submersible cables market covered in this report is segmented -
1) By Cable Type: ESP Flat Power Cable, ESP Round Power Cable
2) By Insulation: Polypropylene, Ethylene Propylene Diene Monomer (EPDM)
3) By Voltage: Low Voltage, Medium Voltage, High Voltage
4) By End User: Mining Industries, Oil And Gas Industries, Agriculture Industries, Construction Sector, Other End Users
Subsegments:
1) By ESP Flat Power Cable: Flat Cable With PVC Insulation, Flat Cable With Polyurethane Insulation
2) By ESP Round Power Cable: Round Cable With PVC Insulation, Round Cable With Polyurethane Insulation, Round Cable With Thermoplastic Elastomer (TPE) Insulation
Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=12403&type=smp
What Are The Driving Electric Submersible Cables Market Evolution?
The expansion of oil and gas exploration endeavors is predicted to foster the development of the electric submersible cables market. The process of identifying and assessing potential oil and natural gas reserves in lesser exploited regions is what constitutes oil and gas exploration. Electric submersible cables are predominantly employed in this exploration, as they can withstand the severe downhole environment conditions, such as high temperature, corrosiveness, and abrasiveness. These cables also convey high current over long distances, which is crucial for the operation of electric submersible pumps (ESPs). As an example, data from the Energy Information Administration, a federal statistical and analytical agency based in the US, suggested in June 2023 that the global demand for oil is expected to increase by 6% between 2022 and 2028, reaching a notable 105.7 million barrels daily. Additionally, global upstream investments in oil and gas exploration, extraction, and production are projected to grow 11% year-on-year to a record-breaking USD 528 billion in 2023. Thus, the burgeoning oil and gas exploration activities are fuelling the growth of the electric submersible cables market.
Which Firms Dominate The Electric Submersible Cables Market Segments?
Major companies operating in the electric submersible cables market include Siemens AG, Sumitomo Electric Industries Ltd., ABB Ltd., Schlumberger Limited, Halliburton Co, Nexans SA, Rockwell Automation, Hitachi Metals Ltd., Superstar Cable Industries, Furukawa Electric, Baker Hughes Co, Southwire Company LLC, Leoni AG, GE Company LLC, LS Cable & System, General Cable, Prysmian Group, Elsewedy Electric, Havells India Limited, KEI Industries Ltd., Magitek Services, New England Wire Technologies Corp., NKT AS, Jainson Cables India Pvt Ltd., ABA Industry Inc., Rotex (India), Jainson Insulation Pvt. Ltd., Kerite Company, Finolex Cables Ltd.
What Trends Are Expected to Dominate the Electric Submersible Cables Market in the Next 5 Years?
The formation of strategic alliances is a prevailing trend in the electric submersible cables sector, as leading companies cooperate with those possessing complementary skills and resources. These collaborations enhance their capacity to design, manufacture, distribute, and implement electric submersible cables. For example, in June 2023, the Dubai Cable Company, based in the United Arab Emirates, joined forces with Baker Hughes, an American energy technology firm, to expedite the development and manufacture of power cables for electrical submersible pumps (ESPs). This partnership will offer flexible solutions to clients in the oil and gas sector, including ADNOC. Furthermore, in September 2024, the intent to furnish Australia with top-tier, specialized cable solutions, including those that are submersible, to support a range of industries with tailored cables, demonstrates the role of strategic partnerships in propelling growth in the electric submersible cables market.
Get the full report for exclusive industry analysis:
https://www.thebusinessresearchcompany.com/report/electric-submersible-cables-global-market-report
Which Is The Largest Region In The Electric Submersible Cables Market?
Asia-Pacific was the largest region in the electric submersible cables market in 2024. The regions covered in the electric submersible cables market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Electric Submersible Cables Market?
2. What is the CAGR expected in the Electric Submersible Cables Market?
3. What Are the Key Innovations Transforming the Electric Submersible Cables Industry?
4. Which Region Is Leading the Electric Submersible Cables Market?
Why This Report Matters:
Competitive overview: This report analyzes the competitive landscape of the 3D imaging software market, evaluating key players on market share, revenue, and growth factors.
Informed Decisions: Understand key strategies related to products, segmentation, and industry trends.
Efficient Research: Quickly identify market growth, leading players, and major segments.
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Electric Submersible Cables Market Size Forecasted To Achieve $6.03 Billion By 2029 With Steady Growth here
News-ID: 3996890 • Views: …
More Releases from The Business Research Company
Company Registration Service Market Landscape 2025: Forecast Data and Growth Str …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Company Registration Service Market Through 2025?
The market size for company registration services has seen robust growth in the recent past. The market is projected to expand from $10.67 billion in 2024 to $11.55 billion in 2025, exhibiting a compound annual growth…
Comprehensive 2025 Commercial Toilet Partition Market Overview: Trends, Forecast …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Commercial Toilet Partition Market Through 2025?
In recent years, the market size for commercial toilet partitions has significantly expanded. The forecast predicts a rise from $1.82 billion in 2024 to $1.95 billion in 2025, with a compound annual growth rate (CAGR) of…
Key Trends Influencing the Growth of the Commercial Insurance For Small And Medi …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Commercial Insurance For Small And Medium-Sized Enterprises (SMEs) Market Through 2025?
The market size of commercial insurance for small and medium-sized enterprises (SMEs) has seen substantial growth over the recent years. A rise from $111.83 billion in 2024 to $119.76 billion in…
Growing Focus On Reducing Greenhouse Gas Emissions Driving The Market Growth Due …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Combustion Emissions Analyzer Market Through 2025?
In the past few years, the market size for combustion emissions analyzer has seen robust growth. It is projected to increase from $1.02 billion in 2024 to $1.09 billion in 2025, with a compound annual growth…
More Releases for Cable
Cable Management Market by Type (Cable Trays, Cable Raceway, Cable Conduits, Cab …
The Cable Management Market would portray a significant CAGR by 2027, as per the latest report published by Allied Market Research.
Allied Market Research recently published a report, titled, “Cable Management Market by Type (Cable Trays, Cable Raceway, Cable Conduits, Cable Connectors &Glands, Cable Carriers, cable Lugs, Cable Junction Boxes, and Others), and End User (IT & Telecommunication, Commercial Construction, Energy, Manufacturing and Automation, Marine, Mining, Healthcare, and Others): Global Opportunity…
Automotive Control Cable Market 2019 Precise Outlook - SAB Cable, Allied Wire & …
Global Automotive Control Cable Market Report 2019-2025 provides insightful data about business strategies, qualitative and quantitative analysis of Global Market. The report also calls for market – driven results deriving feasibility studies for client needs. MarketInsightsReports ensures qualified and verifiable aspects of market data operating in the real- time scenario. The analytical studies are conducted ensuring client needs with a thorough understanding of market capacities in the real- time…
Cable & Accessories Industry - Nexans, General Cable Technologies, ABB, Brugg, P …
Electrical cable, an assembly of one or more wires which may be insulated, used for transmission of electrical power or signals
Wide array and volume of cable & accessories applications, high demand from residential to industrial applications and increasing power demand is expected to drive growth in cable and accessories market. Furthermore, Growth in rural electrification especially in the developing economies, growing use of cable & accessories in various industries and…
Global Submarine Cable Market 2017: General Cable, Nexans, Prysmian Group, Allie …
Submarine Cable Market Research Report 2017
In this report, the global Submarine Cable market is valued at USD XX million in 2016 and is expected to reach USD XX million by the end of 2022, growing at a CAGR of XX% between 2016 and 2022.
Geographically, this report split global into several key Regions, with sales (volume), revenue (value), market share and growth rate of Submarine Cable for these regions, from 2012…
Cable Management System Market (Cable Tray, Cable Ladder, Raceway, Cable Trunkin …
This report on the global cable management system market provides analysis for the period from 2014 to 2024, wherein 2015 is the base year and the years from 2016 to 2024 are the forecast period. Data for 2014 has been included as historical information. The report covers all the prevalent trends and technologies playing a major role in the growth of the cable management systems market over the forecast period…
Global Nuclear Power Cable Market 2016 : Qingdao Hanlan Cable, Jiangsu Shangshan …
A market study based on the "Nuclear Power Cable Market" across the globe, recently added to the repository of Market Research, is titled ‘Global Nuclear Power Cable Market 2016’. The research report analyzes the historical as well as present performance of the global Nuclear Power Cable market, and makes predictions on the future status of Nuclear Power Cable market on the basis of this analysis.
Get Free Sample Copy of Report…
