The Underwater Connectors Global Market Report 2023, provides comprehensive information on the underwater connectors market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Underwater Connectors Global Market Report 2023, the market is expected to grow from $1.49 billion in 2022 to $1.62 billion in 2023 at a compound annual growth rate (CAGR) of 9.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The underwater connectors market is expected to reach $2.23 billion in 2027 at a CAGR of 8.2%.
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Product innovations are a key trend gaining popularity in the underwater connectors market. Major companies operating in the underwater connectors market are developing new products to sustain their position in the market. For instance, in March 2021, Connector Subsea Solutions Corp. (CSS), a Norway-based producer of offshore connectors for the energy industry, introduced MORGRIP MORSMART. Because this NEW Mechanical Connector product line is small and light, it requires less handling capacity during offshore installation. The MORGRIP MORSMART is a permanent repair solution for subsea pipeline repair and tie-in that is rapid and simple to deploy. The product is designed, manufactured, and tested to meet high-quality standards and industry requirements. These units feature a compressed elastomeric seal system and a collet gripping mechanism to allow the proper application to a broad range of new or existing pipeline widths, wall thicknesses, and pressures.
The underwater connectors market is segmented:
1) By Type: Fluid Filled Underwater Mateable Connector, Inductive Coupling, Rigid Shell Or Bulkhead, Rubber Molded
2) By Connection: Alternating Current Connectors, Direct Current Connectors, Wireless Power Connectors
3) By End User: IT And Telecom, Marine, Military And Defense, Oil And Gas, Other End-users
North America was the largest region in the underwater connectors market in 2022.
The table of contents in TBRC’s underwater connectors market report includes:
- Executive Summary
- Underwater Connectors Market Characteristics
- Underwater Connectors Market Trends And Strategies
- Underwater Connectors Market – Macro Economic Scenario
- Global Underwater Connectors Market Size and Growth
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- Underwater Connectors Market Other Major And Innovative Companies
- Global Underwater Connectors Market Competitive Benchmarking
- Global Underwater Connectors Market Competitive Dashboard
- Key Mergers And Acquisitions In The Underwater Connectors Market
- Underwater Connectors Market Future Outlook and Potential Analysis
Top Major Players
- 3M Company
- Baker Hughes Co.
- Eaton Corporation
- TE Connectivity Corp.
- Amphenol Corporation
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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