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Press Release

Dec, 04 2023

The Rise in the Trend of Offshore Wind Power Generation is Driving the Growth of the Middle East Submarine Cable System Market

The Middle East region has been integral to the worldwide undersea cable network, having historically served as an important link between the East and the West. In particular, Egypt has functioned as a principal conduit for a multitude of submerged communication routes. However, the market for underwater cables in this area is changing quickly. Route diversification is becoming ever more vital, and Saudi Arabia and Israel are leading the charge to create new routes across the region. Significant market growth is also being driven by the Middle East's growing need for high-capacity bandwidth to support a variety of industries, including  data centers, businesses, and content delivery.

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Data Bridge Market Research analyzes that the Middle East Submarine Cable System Market is expected to reach USD 1,556,030.39 thousand by 2031 from USD 826,415.46 thousand in 2023, growing at a CAGR of 8.3% during the forecast period of 2024 to 2031.

Key Findings of the Study

Middle East Submarine Cable System Market

Surge in the Communication Projects Undersea Path Across the Middle East

The Middle East is strategically positioned at the crossroads of Europe, Asia, and Africa, making it a critical hub for international data traffic. Submarine cables provide the most reliable and high-capacity means of connecting the Middle East to other continents, ensuring low-latency communication and high-speed data transmission. This connectivity is vital for the region's economic development and international trade, and the growth of communication projects will lead to a corresponding rise in the demand for submarine cable systems. The surge in communication projects reflects the Middle East's commitment to diversifying its economy beyond oil and gas. The demand for submarine cable systems becomes even more pronounced as the region invests in technology, smart cities, and digital services.

Thus, the above advantages for the businesses had them improve customer service as there is a rise in demand for improvement of customer services, which is driving the market growth.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2024 to 2031

Base Year

2023

Historic Years

2022 (Customizable to 2016- 2021)

Quantitative Units

Revenue in USD Thousand

Segments Covered

Product (Wet Plant Products and Dry Plant Products), Voltage (Medium Voltage, High Voltage, and Extra High Voltage), Fibre Class (Unrepeatered and Repeatered), Cable Types (Loose Tube Cables, Ribbon Cables, and Others), Armor Type (Light Weight Armor, Single Armor, Double Armor, and Rock Armor), Depth (0 to 500 M, 500 M to 1000 M, 1000 M to 5000 M, and Others), Application (Power Cables and Communication Cables)

Country  Covered

Saudi Arabia, U.A.E., Israel, Qatar, Oman, Bahrain, Iran, Kuwait, Iraq, and Rest of Middle East

Market Players Covered

HENGTONG GROUP CO.,LTD. (China), Alcatel Submarine Networks (France), Corning Incorporated (U.S.), JDR Cable Systems Ltd. (U.K.), PRYSMIAN S.p.A. (Italy), LS Cable & System Ltd (South Korea), APAR (India), NEC Corporation (Japan), ZTT (China), Hexatronic Group (Sweden), NEXANS (France), Sumitomo Electric Industries, Ltd. (Japan), Saudi Ericsson (Saudi Arabia), Tratos (Italy), TE Connectivity (Switzerland), and The Okonite Company (U.S.) among others

Data Points Covered in the Report

In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Segment Analysis

The Middle East submarine cable system market is segmented into seven notable segments based on product, voltage, fiber class, armor type, cables type, depth, and application.

  • On the basis of product, the market is segmented into dry plant products and wet plant products

In 2024, the dry plant products segment is expected to dominate the Middle East submarine cable system market 

In 2024, the dry plant products segment is expected to dominate the market with a 62.55% market share as it offers maximum work efficiency and is widely installed in landing stations.

  • On the basis of voltage, the market is segmented into medium voltage, high voltage, and extra high voltage

In 2024, the high voltage segment is expected to dominate the Middle East submarine cable system market

In 2024, the high voltage segment is expected to dominate the market with a 46.33% market share due to their substantial power demands and investments in critical infrastructure.

  • On the basis of fiber class, the market is segmented into unrepeatered and repeatered. In 2024, the unrepeatered segment is expected to dominate the market with a market share of 61.85%
  • On the basis of cables type, the market is segmented into loose tube cables, ribbon cables, and others. In 2024, the loose tube cables segment is expected to dominate the market with a market share of 53.94%
  • On the basis of armor type, the market is segmented into light weight armor, single armor, double armor, and rock armor. In 2024, the single armor segment is expected to dominate the market with a market share of 48.96%
  • On the basis of depth, the market is segmented into 0 to 500 m, 500 m to 1000 m, 1000 m to 5000 m, and others. In 2024, the 1000 m to 5000 m segment is expected to dominate the market with a market share of 46.50%
  • On the basis of application, the market is segmented into power cables and communication cables. In 2024, the power cables segment is expected to dominate the market with a market share of 60.28%

Major Players

Data Bridge Market Research analyzes PRYSMIAN S.p.A. (Italy), LS Cable & System Ltd (South Korea), HENGTONG GROUP CO.,LTD. (China), NEXANS (France), and ZTT (China) as the major market players operating in the Middle East submarine cable system market.

Middle East Submarine Cable System Market

Market Developments

  • In October 2023, PRYSMIAN S.p.A. manufactured cables for the 3 GW interconnection between Egypt and Saudi Arabia, marking the first significant link between the Middle East and North Africa. This achievement, under a EUR 221 million contract, demonstrates Prysmian's commitment to advancing regional energy connectivity and sustainability. The project is set to enhance electricity exchange in the region and promote greater energy security
  • In April 2023, HENGTONG GROUP CO.,LTD. invested USD 500.00 million in a subsea internet cable network linking Asia, the Middle East, and Europe to compete with a U.S.-backed project. This move signaled the escalation of a technology rivalry between China and the U.S., with potential implications for global internet connectivity. This investment helped the company to increase its product range and cater to more customers
  • In July 2022, NEXANS announced the winning of a new project by EuroAsia Interconnector Limited to develop European electricity interconnection linking the national grids of Israel, Cyprus, and Greece (Crete). This project helped the company to provide technology for deep water subsea power cables utilizing Nexans' long-term developments for 3,000 m ultradeep waters together with the installation capabilities that would be recognized in the market
  • In April 2022, ZTT Submarine Cable & System successfully secured three oil and gas subsea cable supply projects with U.A.E.'s National Petroleum Construction Company (NPCC) in the past. The projects involved the production, testing, and delivery of a total of 54.2 kilometers of submarine composite cables for the Umm Shaif Long Term Development Phase 1 (US LTDP-1) project and the supply of 34 kilometers of bundled submarine power cable and 105.67 kilometers of double-armored SOFC cables for the Dalma gas development project. This helped the company to showcase its potential and strengthen its position in the market
  • In March 2020, LS Cable & System Ltd. secured a USD 85.00 million contract for a submarine cable project in Bahrain, connecting tourist islands. The company's success in winning this contract is attributed to its global experience in long-distance projects and product quality, demonstrating its commitment to expanding its presence in overseas markets and contributing to the company growth

Regional Analysis

Geographically, the countries covered in the Middle East submarine cable system market are Saudi Arabia, U.A.E., Israel, Qatar, Oman, Bahrain, Iran, Kuwait, Iraq, and rest of Middle East.

As per Data Bridge Market Research analysis:

Saudi Arabia is expected to dominate the market and is the fastest-growing country in the market

Saudi Arabia is expected to dominate the market and is the fastest-growing country because of its geographical location, as it is located in the heart of the Middle East and is a hub for submarine networks in the region.

For more detailed information about the Middle East submarine cable system market report, click here – https://www.databridgemarketresearch.com/reports/middle-east-submarine-cable-system-market


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