#underwaterconnectors

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Underwater Connectors is Poised to Grow Substantially Till 2027

According to the new research report published by The Insight Partners, titled “Underwater Connector Market — Global Analysis and Forecast to 2027”, the global underwater connector market is expected to reach US$ 2.49 Bn in 2027, registering a CAGR of 5.7% during the forecast period 2019-2027.

North America is one of the prominent geographies in the global oil and gas industry and positive government initiatives to boost the industry with digital transformation and innovations are anticipated to drive the demand of underwater connectors in this region. The offshore industry in North America is growing at a steady pace with increased drilling activity, mergers & acquisitions, and production. The recent bids issued in South Eastern Newfoundland, Nova Scotia (Canada), and US Gulf of Mexico among other planned ones are attracting international oil companies to this region for future growth opportunities. Safe Drinking Water Act- 1974, Clean Air Act- 1963, and Clean Water Act- 1972 are some of the acts that form the foundation of most state and federal regulations of oil & gas industry in North America region.

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The “America First Energy Plan” of President Trump is another positive initiative which focuses on exploration of oil and gas reserves in federal lands. The oil and gas industry is regulated on both federal and state levels. To further explore shale gas reserves, the government is taking initiatives to such as Natural Gas Pipeline Reform Act which aim at expediting federal review process for interstate gas pipelines. All these factors are anticipated to boost the oil & gas industry in North America and hence, drive the demand for underwater connectors.

Key findings of the study:

Asia Pacific region is considered to be one of the important communications hubs across the globe and therefore efficient communication cabling infrastructure for empowering seamless information exchange across the data centers is one of the most crucial aspects for the region. The market is further characterized by increasing bandwidth capacities of the underwater fiber optic cables and connector.

Optical fiber technology is emerging as one of the key application area in underwater connectivity. Fiber allows longer transmission distances and higher data rates than copper — a fortuitous development, as offshore drilling moves to deeper depths. Petroleum exploration and production are also becoming smarter, as operators pursue real-time information and analysis of both the individual well and the entire production chain from well to topside or land-based platform. Compared to copper, the high bandwidth of fiber allows richer data streams and much longer step-out distances (i.e., distance between subsea installation and surface facilities).

Various significant developments have been witnessed with regards to the deployments of the underwater cable and connectors. By 2020, the bandwidth demand for the trans-pacific undersea cables network alone is anticipated to grow to seven-folds of the current bandwidth value, and thereby attract huge investments for the market

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Some of the key players operating in global underwater connector market are Birns Aquamate LLC, Birns, INC., Eaton Corporation, Fischer Connectors SA, Hydro Group PLC, LEMO S.A., Marshall Underwater Industries, Inc., SEACON Group, Souriau SAS, Teledyne Marine, Gisma Steckverbinder GmbH, C.R.Encapsulation Limited, Glenair, DWTEK Co. Ltd., Scorpion Oceanics Ltd. and among others

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