Underwater Connectors Market with Future Opportunities, Pricing and Profitability Growth by 2027
The global underwater connectors market is expected to showcase momentous growth in the coming years ascribed to rampant investments in the renewable energy generation sector and growing defense budgets by economies like the U.S., China, Russia, the UK, and Germany. Developed nations are constantly investing and competing in the battle to gain technological progression in underwater warfare. In December 2020, China deployed a fleet of underwater drones in the Indian Ocean which can operate on end for more than a month and can make observations for naval intelligence purposes. Such innovative defense projects are expected to add multiple growth opportunities for underwater connector suppliers and manufactures.
As per GMI, the underwater connectors market is projected to surpass USD 1.5 billion by 2027. The current covid19 pandemic has severely impacted the underwater connectors industry growth in the first half of 2020. Strict lockdowns and trade bans imposed by governments have resulted in disruption of import-export of underwater connectors and international trade barriers. Additionally, the pandemic has led to shut down of various underwater mining projects and offshore oil & gas activities temporarily, restraining market growth for a short-term period.
Get a sample copy of this research report @ https://www.decresearch.com/request-sample/detail/4234
In Europe, the underwater connectors market is anticipated to register 5.5% CAGR between 2021 to 2027. Government policies favoring support to offshore renewable energy projects may favor industry expansion. In November 2020, the European Commission introduced the offshore renewable energy approach, which will emphasize on creating floating & fixed offshore wind energy projects. This new strategy aims on increasing the region’s offshore wind capacity to 60 GW from 12 GW existing capacity by 2030. Underwater cable systems and connectors transfer electricity from such offshore plants to onshore electric grids.
Meanwhile, oil & gas application sector held a market stake of around 23% in 2020 and is anticipated to grow at 6.5% CAGR over the forecast period. Rising demand for crude oil across the globe is said to be one of the major factors accelerating the demand for underwater connectors. These connectors are expansively integrated into pumping systems, pipelines, offshore drills, and underwater maintenance robots used in oil & gas activities.
Some of the major players operating in the underwater connectors market are Eaton Corporation, Birns Aquamate LLC., Amphenol Corporation, Fischer Connectors SA, Teledyne Marine, and C.R. Encapsulation Limited, among others. These players are fixating on research and development activities as well as new product innovations for staying competitive in the market.
Request for customization @ https://www.decresearch.com//roc/4234
Blue Logic, a Norwegian subsea technology company has formed a new company, Subsea USB AS, to offer its underwater inductive connectors to the subsea industry. The newly formed company will focus on sales, marketing and extending development of its range of underwater inductive connectors. It also plans on developing its technologies with the support of external capital.
Table of Contents (ToC) of the report:
Chapter 1 Methodology & Scope
1.1 Definitions and scope
1.2 Methodology
1.3 Region-wise COVID-19 impact analysis:
1.3.1 North America
1.3.2 Europe
1.3.3 Asia Pacific
1.3.4 Latin America
1.3.5 Middle East & Africa
1.4 Data Sources
1.4.1 Secondary
1.4.2 Primary
Chapter 2 Executive Summary
2.1 Underwater connectors market 3600 synopsis, 2016 - 2027
2.2 Business trends
2.3 Regional trends
2.4 Type trends
2.5 Application trends
Browse complete Table of Contents (ToC) of this research report @ https://www.decresearch.com/toc/detail/underwater-connectors-market
About Us: –
DecResearch.com, powered by GMI, is an online aggregator of information on market research reports. The website provides comprehensive information as well as a detailed ‘Table of Contents’ for reports being regularly published by GMI. Via this platform, users not only get to answers to their questions about these reports, they also have an additional avenue to talk to the sales and research teams of GMI to learn more about the topics of their interest.
Contact Us: –
DecResearch.com
Website: – https://www.decresearch.com
Email: info@decresearch.com