Middle East & Africa Submarine Cables Market Size & Outlook
MEA submarine cables market highlights
- The MEA submarine cables market generated a revenue of USD 2,155.7 million in 2023.
- The market is expected to grow at a CAGR of 5.1% from 2024 to 2030.
- In terms of segment, offshore wind power generation was the largest revenue generating end use in 2023.
- Offshore wind power generation is the most lucrative end use segment registering the fastest growth during the forecast period.
MEA data book summary
| Market revenue in 2023 | USD 2,155.7 million |
| Market revenue in 2030 | USD 3,048.9 million |
| Growth rate | 5.1% (CAGR from 2024 to 2030) |
| Largest segment | Offshore wind power generation |
| Fastest growing segment | Offshore wind power generation |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Offshore wind power generation |
| Key market players worldwide | Alphabet Inc Class A, Nexans, Prysmian SpA, NEC Corp, SubCom, Amazon.com Inc, Microsoft Corp, NKT A/S, ZTT International |
Other key industry trends
- In terms of revenue, MEA region accounted for 11.7% of the global submarine cables market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 10,679.6 million by 2030.
Offshore wind power generation was the largest segment with a revenue share of 100% in 2023. Horizon Databook has segmented the Middle East & Africa submarine cables market based on offshore wind power generation covering the revenue growth of each sub-segment from 2018 to 2030.
Submarine power lines are being installed to connect the various islands in the MEA area to grids on the mainland. Due to less reliance on diesel generators and the availability of cleaner and more dependable power sources, rural and isolated settlements may now be electrified. Interconnection projects in the MEA area focus on improving collaboration and integration of regional energy markets.
Submarine power cables are also being installed to connect neighbouring nations and enable the interchange of electricity and the creation of a regional power grid. This could facilitate the expansion of renewable energy sources, enhance resource utilization, and advance energy security.
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Submarine Cables Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| ZTT International | View profile | 501-1000 | Nanjing, Jiangsu, China, Asia | https://www.zttcable.com/ |
| SubCom | View profile | 1001-5000 | Eatontown, New Jersey, United States, North America | http://subcom.com |
| Prysmian SpA | View profile | 30351 | Via Chiese 6, MIlan, Italy, 20126 | https://www.prysmiangroup.com |
| Nexans | View profile | 28541 | Nexans 4, allée de l’Arche, Courbevoie, France, 92400 | http://www.nexans.com |
| NKT A/S | View profile | 4978 | Vibeholms Alle 20, Broendby, Denmark, 2605 | https://www.nkt.com |
| NEC Corp | View profile | 118527 | 7-1, Shiba 5-chome, Minato-ku, Tokyo, Japan, 108-8001 | https://www.nec.com |
| Alphabet Inc Class A | View profile | 180895 | 1600 Amphitheatre Parkway, Mountain View, CA, United States, 94043 | https://www.abc.xyz |
| Microsoft Corp | View profile | 221000 | One Microsoft Way, Redmond, WA, United States, 98052-6399 | https://www.microsoft.com |
| Amazon.com Inc | View profile | 1525000 | 410 Terry Avenue North, Seattle, WA, United States, 98109-5210 | https://www.amazon.com |
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