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3. Submarine Cable Systems Companies - Submarine Networks (France) and SubCom, LLC (US) are the Key Players

The submarine cable system market to grow from USD 18.2 billion in 2024 and is expected to reach USD 29.7 billion by 2029, growing at a CAGR of 10.3% from 2024 to 2029. Factors such as expanding offshore wind power capacity, and increasing penetration of internet and collaborations among tier 1 vendors are driving market growth. The offshore wind power industry is experiencing a sizable demand from China, and European region. About 58% of the new installed offshore capacity was in China in 2023. Growth of offshore wind power industry is driving market growth.

Key players in the submarine cable system market include Alcatel Submarine Networks (France), SubCom, LLC (US), NEC Corporation (Japan), NEXANS (France), Prysmian Group (Italy), HENGTONG GROUP CO.,LTD. (China), ZTT (China), NKT A/S (Denmark), Corning Incorporated (US), Hellenic Cables (Greece), Sumitomo Electric Industries, Ltd. (Japan), Apar Industries (India). AFL (US), TFKable (Poland), Hexatronic Group (Sweden), SSGCABLE (China), OCC Corporation (Japan), 1X Technologies LLC (US), Tratos (UK), Taihan Cable & Solution Co., Ltd. (South Korea), FURUKAWA ELECTRIC CO., LTD. (Japan), Ningbo Orient Wires &Cables Co.,Ltd. (China), Qingdao Han Cable Co., Ltd. (China), LS Cable & System Ltd (South Korea), and Ocean Specialists, Inc. (US). These companies have employed a variety of growth approaches, such as product launches, partnerships, collaborations, contracts, and acquisitions, to compete in the submarine cable system market. Acquisitions, and contracts have been the key strategy of players from 2020 to 2023 for expanding their customer base and strengthening their product portfolio.

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Major Submarine Cable Systems companies include:

• Alcatel Submarine Networks (France)
• SubCom, LLC (US)
• NEC Corporation (Japan)
• NEXANS (France)
• Prysmian Group (Italy)
• HENGTONG GROUP CO.,LTD. (China)
• ZTT (China)
• NKT A/S (Denmark)
• Corning Incorporated (US)
• Hellenic Cables (Greece)
• Sumitomo Electric Industries, Ltd. (Japan)
• Apar Industries (India)
• AFL (US)
• TFKable (Poland)
• Hexatronic Group (Sweden)
• SSGCABLE (China)
• OCC Corporation (Japan)
• 1X Technologies LLC (US)
• Tratos (UK)
• Taihan Cable & Solution Co., Ltd. (South Korea)
• FURUKAWA ELECTRIC CO., LTD. (Japan)
• Ningbo Orient Wires &Cables Co.,Ltd. (China)
• Qingdao Han Cable Co., Ltd. (China)
• LS Cable & System Ltd (South Korea)
• Ocean Specialists, Inc. (US)

Alcatel Submarine Networks

Alcatel Submarine Networks, a wholly owned subsidiary of Nokia, leads the submarine cable industry with an installed base of over 800,000 km of optical submarine systems deployed globally to date. The company has a strong consumer base in telecommunication and related industries, which can be leveraged to expand the revenue generation from subsea cables. ASN has a commercial presence in core markets – the US, the UK, China, Norway, France, and Australia. ASN is one of the prominent players in the submarine cable system market. It has received several new contracts in recent years from Infraestruturas de Portugal (IP) (Portugal), Istituto Nazionale di Fisica Nucleare (INFN) (Italy) and other such clients, which implies that the company aims to achieve a higher market share through organic strategies. For instance, in July 2023, Alcatel Submarine Networks (ASN) has been awarded the implementation of the Anel CAM project by Infraestruturas de Portugal (IP), a groundbreaking submarine fiber optic cable network spanning 3,812km and featuring six pairs of optical fibers, providing a total capacity of at least 150 Tbps. ASN should continue developing technologies for enhanced capacity, connectivity, and flexibility of submarine cable systems while optimizing procurement and operational costs.

Prysmian Group

Prysmian Group operates through three core business segments: Projects, Energy, and Telecom. The company develops, designs, manufactures, supplies, and installs cables for a wide range of applications and offers high-voltage underground and submarine cables and services under the Projects business segment. Prysmian Group has plans to invest USD 1.9 billion in expanding its capacity to meet the surging demand for submarine cable systems essential for the renewable energy transition. This expansion includes enhancing production at key plants in Finland, Italy, and France, and establishing a new submarine cable plant in Massachusetts. Additionally, Prysmian is increasing its fleet of vessels from five to eight to boost installation capabilities. These investments aim to position Prysmian as a leader in the cable industry, supporting long-term growth and technological advancements essential for sustainable electricity supply.

SubCom, LLC

SubCom, LLC designs, manufactures, deploys, maintains, and operates modern networks with an industry-leading record of delivery and performance, providing the most comprehensive technical and marine expertise with the highest quality and most reliable solutions. The company has deployed over 200 submarine systems worldwide, sold 7,500 repeaters for subsea cable systems, and has an extensive and diversified consumer base. The rapid evaluation of wireless technologies has strengthened the company’s position in the market with new opportunities from IT firms and companies using intranet and internet systems. Increasing investment of Google in undersea cable contracts has resulted in making SubCom LLC a key supplier and deployer of cables for Google. For instance, In September, 2023, Google announced Nuvem, a new transatlantic subsea cable system connecting Portugal, Bermuda, andUS, aimed at enhancing network resiliency and supporting the growing demand for digital services. SubCom, LLC, will be responsible for the design, manufacture, and installation of the Nuvem cable.

NEC Corporation

NEC Corporation was established in 1899 and is headquartered in Tokyo, Japan. The company is engaged in offering systems, components, services, and integrated solutions for computing and communication applications for various industries, including oil & gas, power, and marine, among other such industries. The company, specializing in information and communication technology solutions, operates through six business segments: Public Solutions Business, Public Infrastructure Business, Enterprise Business, Network Services Business, Global Business, and Others. NEC Corporation adopts organic and inorganic strategies to strengthen its market presence and has successfully delivered numerous subsea cable contracts. For instance, October 2023 NEC Corporation has successfully completed the Patara-2 submarine cable system in Indonesia owned by Telkom Indonesia, connecting multiple islands and reinforcing digital connectivity in the region.

Nexans

Nexans manufactures copper, aluminum, PVC, and lead cables for various industries, including building & construction, marine, oil & gas, and communications. It also provides a range of cables and cabling systems for power transmission and distribution, as well as for energy resources. The company operates through four business segments: Building & Territories, Generation & Transmission, Industry & Solutions, and Other Activities. Its global consumers include telecommunication operators, cable installers, digital giants, and energy producers. The company has been focusing on acquisition and sales contracts with different companies as a growth strategy, as well as gaining new technology. For instance, Nexans acquired Reka kaapeli oy in April 2023 to become a key player in electrification and contribute to carbon neutrality by 2030.

Related Reports:

Submarine Cable Systems Market by Application (Communication Cable and Power Cable), Component (Dry Plant Products and Wet Plant Products) Offering, Voltage, Type (Single Core and Multicore), Insulation, End User and Region - Global Forecast to 2029

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