Press release
Emerging Trends to Reshape the Shipboard Cables Market: Quick Ship Programs Are Accelerating Delivery For Shipboard Cables And Meeting Customer Demand as a Key Influencer
Shipboard Cables Market Size
Shipboard Cables Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
In the past few years, the market size for shipboard cables has experienced rapid expansion. A surge from $2.78 billion in 2024 to $3.29 billion in 2025 with a compound annual growth rate (CAGR) of 18.4% is anticipated. The significant growth during the historical period is due to factors like maritime industry expansion, adherence to safety and compliance norms, naval advancements and defense expenditure, rise in vessel electrification, and offshore energy exploration activities.
Shipboard Cables Market Size Forecast: What's the Projected Valuation by 2029?
Expectations are high for the shipboard cables market, as it is predicted to see robust growth in the upcoming years. By 2029, the market is forecasted to reach $4.2 billion, representing a compound annual growth rate (CAGR) of 6.3%. This anticipated growth during the forecast period is attributed to various factors including the integration of renewable energy, digitization and growing connectivity needs, the rise of electric propulsion systems, improved fire safety features, and increasing global trade and shipping activities. Key trends projected for the forecast period entail the utilization of high-strength, lightweight materials, the implementation of smart cabling solutions, a growing emphasis on electromagnetic compatibility (EMC), advancements in jacketing and insulation materials, and adherence to environmental regulations.
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What Are the Drivers Transforming the Shipboard Cables Market?
The shipboard cables market is propelled by the growth and advancement of offshore oil & gas installations. This includes the process of electrifying offshore oil and gas platforms, which necessitates the use of high-performing shipboard cables to join oil platforms to mainland power networks. For instance, in October 2022, the Abu Dhabi National Oil Company (ADNOC), a company based in Abu Dhabi, secured a contract worth $1.53 billion (AED 5.62 billion) for ADNOC Drilling. This deal bolsters ADNOC's offshore operations and its objective of responsibly enhancing production capacity to meet the increasing worldwide demand for dependable, low carbon intensity oil and gas. As such, the progression of offshore oil & gas ventures is anticipated to bolster the growth of the shipboard cables market.
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What Long-Term Trends Will Define the Future of the Shipboard Cables Market?
Leading enterprises in the shipboard cable market are innovating with new products like quick ship programs to enhance their customer service and increase their revenue stream. A Quick ship program is essentially a strategy used by companies, usually in the manufacturing or retail sector, to expedite customer delivery of specific items. To illustrate, Siemon, a cable manufacturing company based in the U.S, introduced RapidDAC, a quick ship service for their direct attach copper cables (DACs), in October 2023. Siemon's objective is to guarantee that projects requiring 10 racks or more are cost-efficient, fulfilled on time, and in line with the urgent needs of data center deployments, as demonstrated through their groundbreaking RapidDAC program. The new quick ship program by Siemon in North America underscores their capacity to dispatch 500 DACs, enough for 10 standard data center servers, in 5 days or less. Whether the demand is for 50 or 500 cables, their nimble production process assures that DACs are produced and dispatched within 5 days from the date of the order.
Which Segments in the Shipboard Cables Market Offer the Most Profit Potential?
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
Subsegments:
1) By Fiber-Optic Cables: Single-Mode Fiber-optic Cables, Multi-Mode Fiber-Optic Cables
2) By Electric Cables: Power Cables, Control Cables, Instrumentation Cables
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Which Firms Dominate the Shipboard Cables Market by Market Share and Revenue in 2025?
Major companies operating in the shipboard cables market include 3M Company, Eaton Corporation, Prysmian Group, TE Connectivity Inc., Nexans SA, Leoni AG, General Cable Company, OCC Corporation, Axon' Cable S.A.S., HMN Technologies Co. Ltd., Seacon Group Limited, 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., 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.
Which Regions Offer the Highest Growth Potential in the Shipboard Cables Market?
Asia-Pacific was the largest region in the shipboard cables market in 2024. 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.
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