Submarine Cable for Oil and Gas Market to Reach USD 10.9 Billion by 2033 | Growth Driven by Offshore Exploration & Energy Infrastructure with Key Players Prysmian Group, Nexans, NKT, LS Cable & System, and ZTT Group

According to a new study by DataHorizzon Research, the "Submarine Cable for Oil and Gas Market" is projected to grow at a CAGR of 9.1% from 2025 to 2033, driven by the expansion of offshore oil and gas projects, increasing demand for reliable power and data transmission, and advancements in deep-water drilling technology. Submarine cables are playing a pivotal role in connecting offshore platforms to onshore grids, enabling efficient power supply, monitoring, and control operations in demanding subsea environments.

Market Size & Insights

The submarine cable for oil and gas market was valued at approximately 4.6 billion USD in 2024 and is projected to grow significantly to 10.9 billion USD by 2033, at a CAGR of 9.1% from 2025 to 2033, supported by rising investments in offshore exploration, subsea production facilities, and interconnection infrastructure. Submarine power and communication cables are critical for transmitting electricity, data, and signals across underwater distances, ensuring the seamless operation of offshore rigs, floating production storage units (FPSOs), and subsea control systems.

Oil and gas operators are increasingly relying on submarine cables to reduce operational risks, enhance safety, and improve energy efficiency. Traditional reliance on localized generation units is being replaced by high-voltage submarine cables that deliver reliable onshore electricity to offshore sites, minimizing carbon footprints and lowering maintenance costs. Additionally, fiber-optic submarine cables enable advanced monitoring, real-time communication, and remote management of offshore assets.

Technological advancements such as high-voltage direct current (HVDC) cables, corrosion-resistant materials, and dynamic cable systems designed for floating installations are further boosting adoption. As offshore oil and gas activity expands into deeper waters and harsher environments, demand for durable, high-capacity submarine cables is expected to remain strong. This sector is set to play a key role in ensuring operational continuity and efficiency for offshore energy production through 2033.

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Key Factors Driving the Future Growth of the Submarine Cable for Oil and Gas Market:

• Rising investments in offshore oil and gas exploration and production (E&P).
• Increasing adoption of HVDC and high-voltage AC submarine power cables.
• Growing need for fiber-optic communication systems to support real-time monitoring.
• Shift toward low-emission and energy-efficient offshore operations.
• Expanding deep-water drilling and subsea production systems.
• Technological advancements in corrosion-resistant and dynamic submarine cables.

Top 10 Market Companies

• Prysmian Group
• Nexans
• NKT
• Sumitomo Electric Industries
• LS Cable & System
• ZTT (Zhongtian Technology)
• JDR Cable Systems (TFKable Group)
• Aker Solutions
• TechnipFMC
• Oceaneering International

Market Segments

By Cable Type
o Power Cables (MV, HV)
o Umbilicals (electro-hydraulic, thermoplastic)
o Fiber-Optic Cables
o Hybrid (power + fiber / power-umbilical)
o Others

By Installation
o Static
o Dynamic

By Application
o Power-from-shore electrification
o Subsea production & processing
o Platform/FPSO/FLNG interconnects
o Inter-field communications & SCADA links
o Others

By Region:
o North America
o Europe
o Asia-Pacific
o Latin America
o Middle East and Africa

Region Insights

Europe leads the submarine cable for oil and gas market, with strong investments in the North Sea, where offshore platforms require robust subsea power and communication infrastructure. Norway and the U.K. are at the forefront, emphasizing energy-efficient and low-carbon offshore operations.

North America follows closely, driven by deep-water drilling projects in the Gulf of Mexico and increasing subsea connectivity requirements. The U.S. is adopting HVDC cables to connect offshore rigs and reduce environmental impact.
Asia-Pacific is projected to be the fastest-growing region, supported by expanding offshore exploration in China, India, and Southeast Asia. Rising investments in floating production units and subsea control systems are accelerating market growth.

Latin America, particularly Brazil, is a strong contributor with its vast offshore oil reserves and continuous investments in deep-water projects. Meanwhile, the Middle East & Africa region is gradually expanding its subsea cable demand, especially as offshore fields in Saudi Arabia and Africa require reliable power and communication links.

Recent Developments

• Prysmian Group expanded production capacity for HVDC submarine cables targeting offshore energy.
• Nexans secured contracts for subsea cable systems in the North Sea.
• NKT launched advanced dynamic submarine cables designed for floating installations.
• LS Cable & System supplied hybrid cables combining power and communication features.
• ZTT Group developed corrosion-resistant submarine cable solutions for deep-water applications.
• Sumitomo Electric enhanced its fiber-optic submarine cable portfolio for offshore monitoring.

Market Outlook

The submarine cable for oil and gas market is projected to grow steadily through 2033 as offshore oil and gas development remains a vital part of global energy supply. With increasing focus on deep-water exploration, dynamic positioning systems, and subsea production facilities, submarine cables will be indispensable for ensuring reliable power transmission and communication.

Future growth will be strongly influenced by the shift toward sustainable and low-emission offshore operations, where replacing diesel generators with onshore power supplied via submarine cables reduces carbon footprints. In parallel, the integration of fiber-optic systems will enable advanced monitoring and digital twin applications, improving asset management and predictive maintenance in offshore environments.

Technological innovation will remain central, with manufacturers advancing HVDC systems, high-capacity hybrid cables, and materials designed for harsh subsea conditions. The growing demand for floating platforms and FPSOs will also fuel the adoption of dynamic cables, designed to withstand constant motion and deep-water pressure.

By 2033, the submarine cable industry will be a critical enabler of energy efficiency and operational resilience for offshore oil and gas companies. With sustained investments and evolving energy infrastructure, the market outlook remains robust and strategically significant.

Contact:
Ajay N
Ph: +1-970-633-3460

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DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR's comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.

This release was published on openPR.