Apr 22, 2020   SOURCE: BusinessWire

Global Shipboard Cables Market (2020 to 2030) - COVID-19 Impact and Recovery - ResearchAndMarkets.com

The "Shipboard Cables Global Market Report 2020-30: Covid 19 Impact and Recovery" report has been added to ResearchAndMarkets.com's offering.

The global shipboard cables market was worth $3.61 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 12.44% and reach $5.77 billion by 2023.

The shipboard cables market consists of sales of shipboard cables and related services. Shipboard cables are used for electrical installations in ships and offshore platforms for the transfer of electric power to electric panels for lighting, control circuits, the transmission of vital instrumentation signals. They are fire-resistant, flame retardant, low smoke & halogenfree cables.

Shipboard Cables Market Global Report 2020 from the publisher provides the strategists, marketers and senior management with the critical information they need to assess the global shipboard cables market as it emerges from the Covid 19 shut down.

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Where is the largest and fastest growing market for the shipboard cables? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Shipboard Cables market global report from the publisher answers all these questions and many more.

The shipboard cables market covered in this report is segmented by type into fiber-optic cables, electric cables. It is also segmented by applications into marine and offshore, oil & gas and petrochemical, others.

The increasing cost of raw material hampers the shipboard cables market. The increase in raw material costs increases the operational expenses and hence increases the price of the end product. For instance, in 2019 the price of copper metal increased rapidly owing to the trade tensions between the USA and China. Copper is a key raw material used in the production of shipboard cables. The rise in copper prices thereby increases the manufacturing cost and hence restrains the growth of the market.

Increase and the expansion of offshore oil & gas plants is driving the shipboard cables market. The expansion of offshore oil & gas plants includes electrification of offshore oil and gas platforms which involves the use of efficient shipboard cables to connect oil platforms to mainland power grids. For instance, in 2019, LS Cable & System, a Korea based cable manufacturer has signed an agreement worth $100 million with Orsted, a Denmark based energy firm, to construct a submarine power grid in Taiwan. Therefore, the development of offshore oil & gas projects is projected to support the growth of the shipboard cables market.

Key Topics Covered:

1. Executive Summary

2. Shipboard Cables Market Characteristics

3. Shipboard Cables Market Size And Growth

3.1. Global Shipboard Cables Historic Market, 2015 - 2019, $ Billion

3.1.1. Drivers Of The Market

3.1.2. Restraints On The Market

3.2. Global Shipboard Cables Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion

3.2.1. Drivers Of The Market

3.2.2. Restraints On the Market

4. Shipboard Cables Market Segmentation

4.1. Global Shipboard Cables Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

4.2. Global Shipboard Cables Market, Segmentation By Applications, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

5. Shipboard Cables Market Regional And Country Analysis

5.1. Global Shipboard Cables Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

5.2. Global Shipboard Cables Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

Companies Mentioned

  • Eaton Corporation
  • Fujitsu Limited
  • Belden
  • SAB Cable
  • FSC Global
  • Belcom Cables Ltd
  • LEONI
  • Eland Cables
  • Nuhas Oman
  • CABLE SOURCE PTE LTD
  • WILSON CABLES PTE LTD.
  • TE Connectivity, Inc
  • Teledyne Marine
  • HESFIBEL
  • Huawei Marine
  • SAMCO Inc
  • SEACON
  • Hengtong Optic-Electric Co., Ltd
  • Molex
  • Scorpion Oceanics
  • Sea and Land Technologies Pte. Ltd
  • Axon Cable
  • OCC Corporation
  • General Cable Company
  • ZTT Corporation
  • Nexans

For more information about this report visit https://www.researchandmarkets.com/r/c2a1ib