Categories: Wire Stories

APAC Submarine Cable System Market Report 2022: Rise in Offshore Wind Power Capacity from Asia Pacific and Increase in Grid Connectivity Driving Growth – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “APAC Submarine Cable System Market Forecast to 2028 – COVID-19 Impact and Regional Analysis by Service; by Application” report has been added to ResearchAndMarkets.com’s offering.

The APAC submarine cable system market is expected to grow from US$ 235.85 million in 2021 to US$ 546.78 million by 2028; it is estimated to grow at a CAGR of 12.8% from 2021 to 2028.

Submarine cables, fiber-optic cables laid in the ocean, carry more than 99% of intercontinental communication traffic, which makes them the invisible enablers of global connectivity. At present, there are more than 500 subsea cables in operation. Cables connecting nearby islands can be shorter than 50 miles, whereas those traversing the Pacific can reach more than 10,000 miles in length. Many of them are used to connect a single connection line across a water body, while others have multiple landing points connecting multiple countries.

The major stakeholders in the APAC submarine cable system market analysis include service providers and end-users. The service providers are the companies engaged in supplying and installation of submarine power cables. The major end-users considered in the APAC submarine cable system market includes telecommunication, power generation, and oil & gas.

Countries in Asia-Pacific focus on encouraging cross-sector, cross-border, and cross-vector strategic partnerships to accelerate progress toward net-zero carbon emissions. Many low-cost renewable energy resources are located in sparsely populated areas away from load centers. In many cases, the resources are situated across international borders from the energy demand centers.

Cross-border electricity trade, enabled by power grid infrastructure connectivity, creates a need to manage the energy surpluses and deficits across the region in an optimal manner. Thee demands of a growing middle-class population and the increased access to modern energy sources propel the demand for energy. Thus, regulatory support coupled with the revision of existing policies to strengthen the cross-border trading of electricity drives the growth of the APAC submarine cable system market.

The growing expansion of new APAC submarine cable systems analysis to positively drive the APAC submarine cable system market in the coming years. For instance, in February 2022, Savills Korea announced a joint development by signing an agreement with KT for installing a new cable with a total length of 9,000 km that will land in 6 countries within APAC connecting South Korea, Japan, Taiwan, Indonesia, Philippines, and Singapore. The initiative was in response to the fast-growing demand for global data capacity growth.

Based on service, the APAC submarine cable system market is segmented into installation services and maintenance & upgrade services. The cable installation process includes landing cables onshore and laying across the ocean or body of water until reaching the other side.

Increasing penetration of the internet, growth prospects in the telecom industry, and the rise in transmission of power are the prominent factors responsible for the demand for maintenance activities, helping to drive the APAC submarine cable system market share.

Key Topics Covered:

1. Introduction

2. Key Takeaways

3. Research Methodology

4. APAC Submarine Cable System Market Landscape

4.1 Market Overview

4.2 PEST Analysis

4.2.1 Submarine Cable Systems Market – APAC PEST Analysis

4.3 Ecosystem Analysis

4.4 Expert Opinion

5. APAC Submarine Cable System Market – Key Market Dynamics

5.1 Market Drivers