Global Underwater Connectors Market Overview:
The global underwater connectors market is expected to grow at a significant pace during the forecast period. This is owing to increasing demand for greater speed & flexibility in the marine and oil & gas applications. Underwater connectors refer to the connectors used for underwater complex applications such as data transfer, electrical connectivity, precise working of underwater equipment such as ROV/AUV, and many more. Furthermore, increasing demand for ROVs/AUVs and growing demand for underwater defence equipment owing to rising military expenditure across different countries are some other factors aiding into the growth of underwater connectors market. Some of the key players profiled in the study are Glenair, Inc. (United States), WEIPU (China), SEACON (Switzerland), Fischer Connectors SA (Switzerland), BIRNS, Inc. (United States), Eaton (Ireland), SubConn Inc. (Denmark), Hydro Group Plc (United Kingdom), Marshall Underwater Industries, Inc (United States) and Baker Hughes (United States).
On the basis of geography, the market of Underwater Connectors has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Southeast Asia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Spain, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End Users, the sub-segment i.e. Military & Defense will boost the Underwater Connectors market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Technology, the sub-segment i.e. Rubber Molded will boost the Underwater Connectors market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Demand for Greater Speed & Flexibility in the Marine and Oil & Gas Underwater Applications
- Increasing Demand for Remotely Operated Underwater Vehicles (ROVs) and Autonomous Underwater Vehicles (AUVs)
- Increasing Demand for Underwater Defense Equipment Due to Rising Global Defense Expenditures
- Rising Adoption of Specific Defense Equipment Due to Rise in Defense Expenditure
- Increasing Demand for Underwater Connectors Due to Rise in Demand for Data Transfer in the Telecommunications Industry
- Growing Oil & Gas Exploration Activities
- Rising Awareness of Periodic Maintenance of Underwater Equipment Across Different Industry Verticals
- Incorrect Material Selection & Installation Can Lead to Connector Corrosion
- Life Cycle Challenges
Major Market Developments:
In December 2019, Eaton Corporation announced that it has completed the acquisition of Souriau-Sunbank Connection Technologies (a division of TransDigm Group)worth USD 920 Million which led it to expand its business in aerospace and interconnection technologies.
In September 2019 SEACON (a subsidiary of TE Connectivity) exhibited HydraElectric and HydraLight Wet-Mate Connectors at Offshore Europe 2019
The players are also focusing on business expansion strategies and expand their presence in the market by exploring applications across new industries by acquiring other market vendors in this market. The vendors in this market are focusing on developing innovative products with new technologies and catering to the market's demands. For instance, in 2019, SEACON (a subsidiary of TE Connectivity) launched HydraElectric Wet-Mate connectors at Subsea Tieback 2019.
Marine Equipment Manufacturers, Marine OEMs, Telecom Providers, Oil & Gas Industry Vendors and Others
Major Objectives Focused through this Study
To define, describe, and forecast the Global Underwater Connectors market on the basis of product [Dry-Mate and Wet-Mate] , application [Electrical, Optical Fiber and Hybrid], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Underwater Connectors market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Southeast Asia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Spain, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Underwater Connectors industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Manufacturers which are also part of the research are Teledyne Marine (United States), Amron International, Inc. (United States), C.R.Encapsulation Limited (United Kingdom), Aker Solutions (Norway), DWTEK Co.,Ltd. (Taiwan), Groove Associates Limited (United Kingdom), GISMA Steckverbinder GmbH (Germany) and SWA Ltd (United Kingdom).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Underwater Connectors market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dow Jones (Factiva), along with primary respondents. The complete methodology includes the study of the annual and financial reports of the key market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) related to the market.