Industry Background:
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.This growth is primarily driven by 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) and Increasing Demand for Underwater Defense Equipment Due to Rising Global Defense Expenditures.
Globally, a noticeable market trend is evident Rising Adoption of Specific Defense Equipment Due to Rise in Defense Expenditure
. Major Manufacturers, such as 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) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
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
Market Drivers
- 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
Market Trend
- 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
Opportunities
Growing Oil & Gas Exploration Activities and Rising Awareness of Periodic Maintenance of Underwater Equipment Across Different Industry Verticals
Challenges
Incorrect Material Selection & Installation Can Lead to Connector Corrosion and Life Cycle Challenges
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Underwater Connectors Study Sheds Light on
The Underwater Connectors Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Underwater Connectors industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Underwater Connectors industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.