(MENAFN- EIN Presswire) Shipboard Cables Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026
The Business Research Company's Shipboard Cables Global Market Report 2022: Market Size, Trends, And Forecast To 2026
LONDON, GREATER LONDON, UK, October 31, 2022 / / -- As per The Business Research Company's 'Shipboard Cables Global Market Report 2022”, the is predicted to reach a value of $6.09 billion in 2022 at a compound annual growth rate (CAGR) of 8.20%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The shipboard cables market is expected to grow to $7.27 billion in 2026 at a CAGR of 4.50%. The increase and the expansion of offshore oil & gas plants are driving the shipboard cables market.
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Key Trends In 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 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.
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, and the transmission of vital instrumentation signals. They are fire-resistant, flame retardant, low smoke & halogen-free cables.
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Shipboard Cables Global Market Report 2022 from TBRC covers the following information:
Market Size Data
•Forecast period: Historical and Future
•By region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•By countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Market Segmentation
•By Type: Fiber-optic Cables, Electric Cables
•By Voltage: Medium Voltage Cable, Low Voltage Cable
•By Applications: Marine And Offshore, Oil & Gas And Petrochemical, Others
•By Geography: The global shipboard cables market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America holds the largest share in the market.
Major market players such as Eaton Corporation, Fujitsu Limited, Belden, SAB Cable, FSC Global, Belcom Cables Ltd, Leoni AG, Eland Cables, Nuhas Oman, and Cable Source Pte Ltd.
Trends, opportunities, strategies and so much more.
Shipboard Cables Global Market Report 2022 is one of The Business Research Company's comprehensive reports that provides shipboard cables global market forecast, shipboard cables global market analysis and an overview of shipboard cables global market. The market report analyzes shipboard cables global market size, shipboard cables global market growth drivers, shipboard cables global market segments, shipboard cables global market major players, shipboard cables global market growth across geographies, and shipboard cables market competitors' revenues and market positioning. The shipboard cables market report enables you to gain insights on opportunities and strategies, as well as identify countries and segments with the highest growth potential.
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