Submarine Cable System Market

Market Leadership - Submarine Cable System Market

The submarine cable system market is highly competitive, owing to the presence of global and regional market players. Contracts, agreements, acquisitions, product launches, and partnerships have been the major strategies adopted by the leading players to grow in the market. Key players that have implemented these strategies are significant players in the power and communication cable market. Major players in the global submarine power cable market include Prysmian (Italy), Nexans (France), and NKT (Denmark), and key players in the global submarine communication cable market are Alcatel-Lucent (France), SubCom (Switzerland), and NEC Corporation (Japan), among others.

Top 2 players in the submarine cable system market:

Alcatel-Lucent held the leading position in the global submarine communication cable system market in 2019. The company is a leading provider of telecommunication tools—consisting of telephone exchanges and transmission equipment, including card phones and electronic payment systems, carrier networking solutions, and mobile communications. In 2016, the company was acquired by Nokia (Finland). ASN, a subsidiary of Alcatel-Lucent, leads the industry in terms of transmission capacity and installed base. It has deployed over 600,000 km of optical submarine cables globally to date. It has an extensive service portfolio comprising project management and installation and commissioning services. ASN also carries out marine and maintenance operations through its fleet of cable ships.

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Prysmian ranked first in the submarine power cable market in 2019. The company provides submarine fiber cable systems and submarine power cables. The strong sales performance and improved profitability of Prysmian have helped it further strengthen its financial structure. The company focuses not only on organic growth by generating increased revenue from active projects, but also on acquisition-led growth. With the acquisition of General Cables in June 2018, Prysmian further strengthened its leading position in the global cable and system industry and increased its presence in North America. This acquisition also led to the expansion of the footprint of the company in Europe and South America. The company also added the capabilities and services of Norddeutsche Seekabelwerke GmbH (NSW), a leading manufacturer of communication, submarine, overhead, power, and offshore cables, to its portfolio in 2018. Prysmian offers fiber-optics submarine cables, accessories, and associated services to investors and world-leading network operators, who are increasingly opting for the point-to-point or turnkey approach, through NSW.

Related Reports:

Submarine Cable System Market by Application (Communication (Component, Offering (Installation & Commissioning, Upgrades)), Power (Type, Voltage, End User (Offshore Wind Power Generation, Offshore Oil & Gas), and Region - Global Forecast to 2025

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Report Code
SE 6646
RI Published ON
2/27/2020
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