Global Autonomous Marine Vehicles Market

The autonomous ships market consists of sales of autonomous ships and related services. The autonomous ship is also known as crewless watercraft piloted by artificial intelligence (AI) without human interference. These ships are unmanned and function autonomously as a type of seafaring drone. Autonomous ships work on artificial intelligence technology and sensors which include lidar, radar, high definition cameras, sonar, and thermal imaging. The autonomy in the autonomous ships market is fully autonomous, remote operations, partial autonomous. The partial autonomous ships refer to the ships that are safer than the other ships and are operated by artificial intelligence and this helps to avoid droning of the ship. The propulsion types involved are fully electric, hybrid. The various fuel types involved are carbon-neutral fuels, LNG, electric, and heavy fuel oil/marine engine fuel. The end-user involved are commercial, defense. The global autonomous ships market size is expected to grow from $6.46 billion in 2021 to $6.88 billion in 2022 at a compound annual growth rate (CAGR) of 6.6%. The global autonomous ship market size is expected to grow to $8.89 billion in 2026 at a CAGR of 6.6%. Increasing marine accidents caused by human errors lead to high financial losses which are predicted to act as a major driver for the growth of the autonomous ships market. Unmanned ships or autonomous technology apprehend accidents attributing to human errors and contributes to the higher potential of reducing onboard accidents. According to the International Institute of Marine Surveying report published in November 2019, human error represents 58% of accidental events and 70% of accidents had shipboard operations as a major cause for accidents. Therefore, the use of autonomous ships to reduce the increasing number of accidents due to human error and financial losses is expected to drive the demand for autonomous ships over the next coming years. The increasing threat of cybersecurity and privacy is expected to limit the growth of the autonomous ships market during the forecast period. The advancements in technology and adoption of artificial intelligence (AI), mobility systems, and the internet of things (IoT) are creating higher chances of cybersecurity and data threats which is a major challenge for the autonomous ship industry. According to the Association for Computing Machinery (ACM)’s journal on cybersecurity of the autonomous ship, cybersecurity is a serious issue for autonomous ships, regardless of the form and level of autonomy of the ship, owing to their increased dependence on ICT for controlling the ship, accessibility of systems to the internet, and increased connectivity of ship’s control system to onshore monitoring systems. Thus, the rising threat for cybersecurity and privacy is predicted to act as a major factor restraining the autonomous ship’s market over the forthcoming years. Major companies undertaking various strategic initiatives like the development of fully autonomous ships, which is likely to be a major trend driving the growth of the autonomous ships industry. For instance, according to Offshore Energy news published in September 2021, UK’s engineering company Rolls-Royce and Sea Machines Robotics, the USA-based startup developing autonomous ship solutions, has started a new collaboration that will deliver comprehensive remote command, autonomous control, and intelligent crew support systems to the marine market. In January 2019, Hyundai Heavy Industries, a South Korea-based shipbuilding company announced the acquisition of Daewoo Shipbuilding and Marine Engineering for an undisclosed amount. This acquisition of joining two heavyweights for creating a shipbuilding giant with a global market share of about 20 percent. Daewoo Shipbuilding and Marine Engineering is a South Korea-based shipbuilding company. Major players in the autonomous ships market are General Electric, DNV GL, Rolls-Royce Holding PLC, Kongsberg Gruppen AS, NYK Line, Mitsui E&S Holdings Co Ltd, Wärtsilä Corporation, DSME Co. Ltd, Vigor Industrial LL, and Praxis Automation Technology B.V. Asia Pacific was the largest region in the autonomous ships market in 2021. Western Europe was the second largest region in the global autonomous ships market. The regions covered in the global autonomous ship market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the autonomous ships market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, USA. The global autonomous ships market is segmented - 1) By Autonomy: Fully Autonomous, Remote Operations, Partial Autonomous 2) By End-User: Commercial, Defense 3) By Propulsion Type: Fully Electric, Hybrid 4) By Fuel Type: Carbon Neutral Fuels, LNG, Electric, and Heavy Fuel Oil/Marine Engine Fuel

The marine hybrid propulsion market consists of sales of marine hybrid propulsion systems by entities (organizations, sole traders, and partnerships) that manufacture marine hybrid propulsion systems. Hybrid propulsion is a propulsion system for a vehicle that involves two or more sources of propulsion in one design usually that can be used collectively or alternately. Hybrid propulsion improves the fuel efficiency of vessels with variable power demand such as tug boats, fishing vessels, and others. The main propulsion types of marine hybrid propulsion are diesel-electric, parallel hybrid, serial hybrid, full electric, gas turbine, and fuel cell. A diesel-electric propulsion system can employ a single engine to drive several propellers or several engines to power one or more propellers. The different types of ships include anchor handling tug supply vessels, platform supply vessels, yachts, motor ferry, cruise liner, and other ship types and operates in various power ranges such as 0-300 KW, 301-500KW, and 501KW-800KW. It is used in commercial, logistics, offshore drilling and naval, and other applications. The global marine hybrid propulsion market size is expected to grow from $3.12 billion in 2021 to $3.5 billion in 2022 at a compound annual growth rate (CAGR) of 12.2%. The global marine hybrid propulsion market size is expected to grow to $5.42 billion in 2026 at a CAGR of 11.6%. An increase in international trade is contributing to the growth of the marine hybrid propulsion market. Most of the internationally traded goods are transported using cargo vessels and ships. Hybrid propulsion improves the fuel efficiency of vessels with variable power demands. According to the International Chamber of Shipping, in 2019, the total value of the annual world shipping trade had reached more than $14 trillion. Moreover, nearly 2 billion tons of crude oil, 1 billion tons of iron ore, 350 million tons of grains, and 11 billion tons of goods are transported by ship each year and about 90% of the world trade is carried by the shipping industry. Thus, the surge in international trade boosts the number of cargo vessels and ships fleet and which in turn, drives the market for marine hybrid propulsion. The launch of integrated propulsion systems has emerged as a key trend in the marine hybrid propulsion market. Major players operating in the marine hybrid propulsion field are focusing on introducing new hybrid propulsion systems to improve performance, environmental compatibility, and propulsion system versatility. For instance, in November 2020, Havyard, a Norwegian shipbuilding group announced that its new hydrogen propulsion system for large ocean-going ships should be completed next year as a potential alternative fuel to help reduce its carbon footprint. It has developed a ship’s propulsion system with integrated LH2 tanks and fuel cells. In June 2020, Gula Skrinet AB, a global supplier of customized marine propulsion systems acquired Caterpillar Propulsion AB for an undisclosed amount. The proposed acquisition develops Gula Skrinet AB’s external relationships, products, and services in close cooperation with customers and partners. Caterpillar Propulsion AB is a Sweden-based manufacturer of mechanically and electrically driven propulsion systems and marine controls for ships. Major players in the marine hybrid propulsion market are BAE Systems, Schottel, MAN Energy Solutions, Siemens, ABB Ltd, General Electric Company, Steyr Motors, Mitsubishi Heavy Industries, Torqeedo, and Wartsila Corporation. Europe was the largest region in the marine hybrid propulsion market in 2021. The regions covered in the global marine hybrid propulsion market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the marine hybrid propulsion market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The global marine hybrid propulsion market is segmented - 1) By Propulsion Type: Diesel-Electric, Parallel Hybrid, Serial Hybrid, Full Electric, Gas Turbine, Fuel Cell 2) By Ship Type: Anchor Handling Tug Supply Vessels, Platform Supply Vessels, Yachts, Motor Ferry, Cruise Liner, Others 3) By Power Rating: 0-300 KW, 301-500 KW, 501 KW-800 KW 4) By Application: Commercial, Logistics, Offshore Drilling, Naval, Others

The ship and boat building and repairing market consists of sales of ships and boats and ship and boat building and repairing services and related services by entities (organizations, sole traders, and partnerships) that operate shipyards. Shipyards are fixed facilities with drydocks and fabrication equipment capable of building a ship, defined as watercraft typically suitable or intended for other than personal or recreational use. The main types in ship and boat building and repairing market are shipbuilding and repairing, boat building and repairing. Repairing refers to the servicing and maintaining motor vehicles such as overhauling motor vehicles, replacing components of motor vehicles, modifying and changing motor vehicles, and painting the surfaces of motor vehicles. The various applications include general services, dockage, hull part, engine parts, electric works, auxiliary services. These are used in transport companies, the military, other end users. The global ship and boat building and repairing market size is expected to grow from $243.12 billion in 2021 to $265.7 billion in 2022 at a compound annual growth rate (CAGR) of 9.3%. The global ship and boat building and repairing market size is expected to grow to $369.44 billion in 2026 at a CAGR of 8.6%. The ship and boat building and repairing market is aided by stable economic growth forecasted in many developed and developing countries. The International Monetary Fund (IMF) predicts that the global GDP growth will be 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a significant decline in the historic period is further expected to aid the market growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. Stable economic growth is expected to increase investments at the end-user markets, thereby driving the market during the forecast period. The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the ship and boat building and repairing market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People's Republic of China, and spread globally including Western Europe, North America, and Asia. Transportation manufacturers depend heavily on the supply of parts and components from different countries across the globe. As many governments restricted the movement of goods across countries, manufacturers had to halt production due to a lack of parts and components. Also, sales of new automobiles decreased significantly due to a decline in consumer demand as many countries impose lockdowns. The outbreak continued to hurt businesses throughout 2020 and into 2021. However, it is expected that the ship and boat building and repairing market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy. Shipbuilding companies around the world are increasingly using green shipbuilding technologies to comply with environmental rules and regulations. Technologies being used for shipbuilding include ships with no ballast systems that block organisms entering the ship and eliminate the need for sterilization equipment, sulfur scrubber systems, waste heat recovery systems, speed nozzles, exhaust gas recirculation systems, advanced rudder and propeller systems, fuel and solar cell propulsion systems and use of LNG fuels for propulsion and auxiliary engines. Ships built using these technologies have significant energy savings and low carbon emissions. For instance, Peace Boat, a Japanese non-profit NGO has entered into an agreement with a Finnish shipbuilding company Arctech Helsinki Shipyard for the construction of Ecoship, the world's greenest cruise vessel. Dean Shipyards Group is also coordinating a green LeanShips project aimed at creating less polluting vessels. Major companies in the ship and boat building and repairing market include Samsung Heavy Industries Co Ltd, Daewoo shipbuilding & marine engineering, BRP Inc., BRUNSWICK CORPORATION, Fincantieri SpA, General Dynamics, Huntington Ingalls Industries, China Shipbuilding Industry Corp, China CSSC Holdings Limited, and Berkshire Hathaway Inc. Asia Pacific was the largest region in the ship and boat building and repairing market in 2021. Western Europe was the second largest market in the global ship and boat building and repairing market. The regions covered in the global ship and boat building and repairing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, Africa. The countries of the ship and boat building and repairing market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam. The global ship and boat building and repairing market is segmented - 1) By Type: Shipbuilding and Repairing, Boat Building and Repairing 2) By Application: General Services, Dockage, Hull Part, Engine Parts, Electric Works, Auxiliary Services 3) By End-User: Transport Companies, Military, Others Subsegments Covered: Shipbuilding, Ship Repairing, Boat Building, Boat Repairing

The submarines market consists of sales of submarines by entities (organizations, sole traders, and partnerships) that manufacture submarines. Nuclear submarines are also included in the market. The main types of submarines are nuclear-powered submarines, diesel-electric submarines, and ballistic missile submarines. A ballistic missile submarine is used to deploy submarine-launched ballistic missiles (SLBMs) with nuclear warheads. The various platform includes commercials that are used for surveillance, combat, marine environmental monitoring, others. The global submarines (including nuclear submarines) market is expected to decline from $18.96 billion in 2021 to $17.41 billion in 2022 at a compound annual growth rate (CAGR) of -8.2%. The decline in the submarines market growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The submarines market size is expected to reach $21.86 billion in 2026 at a CAGR of 5.8%. The rising investment in submarines is expected to propel the growth of the submarines market in the coming years. A submarine is a type of vessel that can move both above and below sea level. Governments across the world are investing in submarines to improve local shipyard capacities and fill holes in the Navy's underwater war force. For instance, the Indian government released a specific expression of interest in June 2019 for an Indian shipyard to develop the submarines at a budget of $6.6 billion. According to the services new annual report to Congress, the U.S. Navy increased investment on its next-generation nuclear missile submarine project by $2 billion in the fiscal year 2021 and continues to drive towards $5 billion in 2024. Therefore, the rising investment in submarines drives the growth of the submarines market. The high cost of submarines is expected to hamper the growth of the submarines market over the forecast period. A submarine is a type of vessel that can move both above and below sea level. The cost of the submarines depends on the size, design, and capabilities of the vessel. In 2019, the Congressional Budget Office (CBO) reports that the total cost per submarine for the Submersible Ship Nuclear (SSN) (a nuclear-powered general-purpose attack submarine) would be $5.5 billion, while the Navy predicts that the budget per submarine would be $3.4 billion. Therefore, the high cost of submarines restraints the growth of the submarines market. The integration of 3D printing or additive manufacturing in submarines is a key trend gaining popularity in the submarines market. Major companies operating in the submarines sector are using 3D printing to build optimized submersible components and to improve performance by reducing essential properties such as weight. For instance, in February 2020, ThyssenKrupp Marine Systems, a Germany-based company that provides naval vessels, surface ships, and submarines have announced plans to expand the use of 3D printing for the production of submarine components. Thyssenkrupp Marine Systems has announced that the hydraulic block has been revamped by additive manufacturing for a submarine that has traditionally weighed 14 kg and now weighs only 2.1 kg. In March 2020, Huntington Ingalls Industries, an America-based military shipbuilding company acquired Hydroid Inc., for an undisclosed amount. The acquisition is expected to enhance Huntington Ingalls Industries' capabilities in technical solutions to unmanned underwater vehicle (UUV) business, autonomous underwater vehicles (AUVs), or marine robots. Hydroid Inc., is an America based company that manufactures underwater vehicles. Major players in the submarines market are General Dynamics, Huntington Ingalls Industries, Mazagon Dock Shipbuilders Limited, ThyssenKrupp Marine Systems (TKMS), Kawasaki Heavy Industries Ltd., Daewoo Shipbuilding & Marine Engineering Co. Ltd., FINCANTIERI S.p.A, Lockheed Martin Corporation, BAE Systems, Saab AB, China Shipbuilding Industry Corporation (CSIC), Navantia SA and United Shipbuilding Corporation. North America is the largest region in the submarines market in 2021. North America is expected to be the fastest growing region in the forecast period. The regions covered in the submarines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the submarines market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The global submarines market is segmented - 1) By Type: Nuclear Powered Submarine, Diesel Electric Submarine, Ballistic Missile Submarine 2) By Platform: Commercial, Military 3) By Application: Surveillance, Combat, Marine Environmental Monitoring, Others

The sea-based defense equipment market consists of sales of sea-based defense equipment by entities (organizations, sole traders and partnerships) that manufacture sea-based defense equipment including support and auxiliary equipment for the sea-based defense such as radar, satellites, sonars and other auxiliary equipment. The main types of sea-based defense equipment are battle force ships and submarines (including nuclear submarines). Battle force ships are authorized United States Ship (USS) warships suitable for participating in combat activities, or a United States Naval Ship which directly supports Navy warfighting or assistance tasks, and is required to be listed in the Naval Vessel Register. The different operations include autonomous sea-based defense equipment, manual and involve various applications such as search and rescue, combat operations, MCM operations, coastal surveillance, others. The global sea based defense equipment market size is expected to grow from $ 47.77 billion in 2021 to $ 52.14 billion in 2022 at a compound annual growth rate (CAGR) of 9.1%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The sea based defense equipment market is expected to reach $ 71.34 billion in 2026 at a CAGR of 8.2%. The overall economic growth of the emerging economies is expected to positively impact the sea-based defense equipment manufacturing market. Rising disposable income, a result of the economic growth, in emerging markets had a positive impact on the demand for defense equipment. The International Monetary Fund (IMF) predicts that the global GDP growth will be 3.4% in 2021. Developed economies are also expected to register stable growth during the forecast period. Stable economic growth is expected to increase investments for the nation's security, thereby driving the sea-based defense equipment manufacturing market during the forecast period. Geopolitical tensions are expected to have a negative impact on the sea-based defense equipment market during the forecast period. Repercussions of geopolitical tensions include sanctions on Russia, trade protectionism, and heightened military tensions in the Middle East. Sanction on Russia was related to the violation of the Chemical and Biological Weapons Control and Warfare Elimination Act of 1991. For instance, the US imposed a number of sanctions on Russia, including sales of defense articles and services and government credit or other financial assistance. Many countries placed trade restrictions, especially on imports, to boost local production. For instance, Brexit is likely to lead to more trade restrictions between the UK and other countries in Europe. The US is also implementing several trade restrictions, especially with China, to boost its local production. Continued violence and terrorism in the Middle East and other parts globally are also expected to have a negative impact on the market. Companies involved in sea-based defense equipment manufacturing are developing artificial intelligence and robotics-based equipment. Sea-based defense equipment such as submarines and warships implementing these technologies are well equipped to initiate an attack with less human intervention, to detect and determine threats. Following the trend, in 2019, Aquabotix Technology Corp., an underwater robotics company with operations in U.S.A and Australia, entered into a special purpose cooperative research and development agreement (CRADA) with the US Navy to initiate the testing phase of its SwarmDiver unmanned surface vehicle (USV). The SwarmDiver USV uses AI to collect data and communicate with each other. They make quick and accurate decisions to arrange themselves in groups of various swarm formations and dive simultaneously to collect brief data sets. Major companies in the sea-based defense equipment market include General Dynamics, Huntington ingalls industries, Naval Group (Formerly DCNS), Bae Systems plc, Fincantieri SpA, Northrop Grumman Corp, Leonardo SpA, Raytheon Co, Lockheed Martin Corporation, and Mitsubishi Heavy Industries Ltd. Asia Pacific was the largest region in the sea based defense equipment market in 2021. Western Europe is expected to be the fastest growing region in the forecast period. The regions covered in the sea based defense equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, Africa. The countries covered in the sea-based defense equipment market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam. The global sea based defense equipment market is segmented - 1) By Type: Battle Force Ships, Submarines (including Nuclear Submarines) 2) By Operation: Autonomous Sea-Based Defense Equipment, Manual 3) By Application: Search and Rescue, Combat Operations, MCM Operations, Coastal Surveillance, Others Subsegments Covered: Aircraft Carriers, Frigates, Destroyers, Corvettes, Torpedo Boats, Support Crafts, SSN Submarine, SSBN Submarine, SSK Submarine

The shipboard cables market consists of sales of shipboard cables and related services. Shipboard cables are used for electrical installations in ships and offshore platforms for the transfer of electric power to electric panels for lighting, control circuits, the transmission of vital instrumentation signals. They are fire-resistant, flame retardant, low smoke & halogen-free cables. The main types of shipboard cables are fiber-optic cables, electric cables. A fiber-optic cable, also known as an optical fiber cable, is a cable that looks like an electrical wire but contains one or more optical fibers for light transmission. The various voltages involved are medium voltage cable, low voltage cable. The different applications include marine and offshore, oil & gas and petrochemical, others. The global shipboard cables market size is expected to grow from $5.63 billion in 2021 to $6.26 billion in 2022 at a compound annual growth rate (CAGR) of 11.2%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The shipboard cable market is expected to reach $8.36 billion in 2026 at a CAGR of 7.5%. The increase and the expansion of offshore oil & gas plants are driving the shipboard cables market. The expansion of offshore oil & gas plants includes electrification of offshore oil and gas platforms which involves the use of efficient shipboard cables to connect oil platforms to mainland power grids. For instance, in 2019, LS Cable & System, a Korea-based cable manufacturer has signed an agreement worth $100 million with Orsted, a Denmark-based energy firm, to construct a submarine power grid in Taiwan. Therefore, the development of offshore oil & gas projects is projected to support the growth of the shipboard cables market. The increasing cost of raw materials hampers the shipboard cables market. The increase in raw material costs increases the operational expenses and hence increases the price of the end product. For instance, in 2019 the price of copper metal increased rapidly owing to the trade tensions between the USA and China. Copper is a key raw material used in the production of shipboard cables. The rise in copper prices thereby increases the manufacturing cost and hence restrains the growth of the shipboard cables market. Major players in the shipboard cables market are Eaton Corporation, Fujitsu Limited, Belden, SAB Cable, FSC Global, Belcom Cables Ltd, Leoni AG, Eland Cables, Nuhas Oman, and Cable Source Pte Ltd. Asia Pacific is the largest region in the shipboard cables market in 2021. North America is the second-largest region in the insulated cables market. The regions covered in the shipboard cable market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the shipboard cables market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The global shipboard cables market is segmented - 1) By Type: Fiber-Optic Cables, Electric Cables 2) By Voltage: Medium Voltage Cable, Low Voltage Cable 3) By Application: Marine and Offshore, Oil and Gas and Petrochemical, Others

The submarine cable system market consists of sales of submarine cable systems, equipment their maintenance services by entities (organizations, sole traders, and partnerships) that are used for interconnection between two or more regions. Submarine cables also known as marine cables are assemblies of various conductors enclosed by an insulating sheath that are present on the oceanic bed connecting two or more points. They mainly consist of landing terminating equipment, submarine optical fiber systems, and others. The global submarine cable system market size is expected to grow from $14.40 billion in 2021 to $16.15 billion in 2022 at a compound annual growth rate (CAGR) of 12.16%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The submarine cable market is expected to reach $26.10 billion in 2026 at a CAGR of 12.76%. The rising number of telecom and internet subscriptions is significantly contributing to the growth of the submarine cable system market. A submarine cable system that is laid on the seabed helps in carrying the telecommunication signals across various places by using optical fiber technology. There is rapid growth in the telecom and internet subscriptions industries as the utility of smartphones compared to normal desktops has increased rapidly, this drives the telecom and internet subscriptions. For instance, according to the Telecom regulatory authority of India, broadband Internet subscribers in India have increased from 747.41 million in 2020 to 778.09 million in 2021. Therefore, the rise in the number of telecom and internet subscriptions is driving the telecom and internet subscriptions market. Strategic partnerships and the adoption of advanced technologies between companies are key trends gaining popularity in the submarine cable system market. Companies in the submarine cable system industry are undergoing various partnerships to develop new technologies and products. For instance, in 2021, Italy based communication solutions company, Sparkle, Telecom Italia (TIM) announced a collaboration with US based Google Cloud to build two new undersea cable systems which will expand communication routes between Europe, Africa, the Middle East and South Asia. The cable systems would contain 16 fiber optic pairs, supporting multiple fiber tenants, and open landing station, enabling competitive access to the cable termination points. In 2021, Digital9 infrastructure, a UK-based company that invests in digital infrastructure including subsea fiber, data centers, and others acquired Aqua Comms for a deal amount of $215 million. This acquisition helps the company to largely invest in a range of digital infrastructure assets including undersea cable systems. Aqua Comms is a Dublin-based company that completely specializes in subsea cable networks. Major players in the submarine cable systems market are ZTT, The Okonite Company, TE Connectivity, SubCom, Saudi Ericsson, Prysmian Group, NKT A/S, Nexans S.A., NEC Corporation, JDR Cable Systems Ltd., Huawei Marine Networks Co., Ltd., Hexatronic Cables & Interconnect Systems, HENGTONG GROUP CO. LTD, Corning Incorporated, Apar Industries, AFL, Alcatel Submarine Networks, Tele-fonika Kable, Cablel Group, Sumitomo Electric Industries, Norddeutsche Seekabelwerke GmbH, Hesfibel and Leoni Special Cables Gmbh Asia Pacific was the largest region in the submarine cable systems market in 2021. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the submarine cable market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the submarine cable system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global submarine cable systems market is segmented - 1) By Component: Wet Plant Products, Dry Plant Products 2) By Type: Multicore, Single Core 3) By Voltage: High Voltage, Medium Voltage 4) By Application: Communication Cables, Power Cables 5) By End-User: Offshore Wind Power Generation, Inter-Country and Island Connection, Offshore Oil and Gas

The marine lubricants market consists of sales of marine lubricants by entities (organizations, sole traders, and partnerships), that are used by ships and other seafaring vehicles. Marine lubricants are frequently utilized to protect and improve the performance of engines and equipment. They are specifically developed to provide optimum performance in operations such as extending engine life and safeguarding components at high temperatures, boosting machine efficiency and dependability, enhancing mechanical wear protection, and preventing cold corrosion. By creating a layer that minimizes friction between moving contact surfaces, marine lubricant reduces friction and wear. reduce friction, prevent wear, protect equipment from corrosion, manage temperature by dissipating heat, control pollution to a filter, convey power, and provide a fluid seal are all functions of lubricants. The main types of products of marine lubricants are engine oil, hydraulic oil, turbine oil, gear oil, greases and others. The hydraulic oil refers to a hydraulic substance used in liquid-pressure hydraulic systems. In the hydraulic system, it performs functions such as energy transmission, system lubrication, anti-corrosion, anti-rust, cooling, and sealing. Hydraulic oil is a unique type of oil that is used to transfer power. The various types of oil are mineral oil (paraffinic oil, naphthenic oil, aromatic oil), synthetic oil (PAO, PAG, esters), bio-based (plant source, animal fats), grease (metallic soap thickener and non-soap thickener, inorganic thickener) used in different ship types such as bulk carriers (handysize, handymax, panamax, capesize), tankers (panamax, aframax, suezmax, very large crude carrier (VLCC), ultra large crude carrier (ULCC), container ship and others (reefers, drill ships, passenger ships, roll on roll off ships, service ships). The global marine lubricants market size is expected to grow from $6.96 billion in 2021 to $7.24 billion in 2022 at a compound annual growth rate (CAGR) of 4.00%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The marine lubricant market is expected to reach $8.67 billion in 2026 at a CAGR of 4.62%. The increase in demand for bio-based lubricants is expected to propel the growth of the marine lubricants market. All lubricants that are biodegrade quickly dissolve and are not hazardous to humans or aquatic habitats are referred to as bio-lubricants. They are also known as eco-friendly, biodegradable, or sustainable lubricants. Because of the biodegradability and low toxicity of bio-lubricants, as well as the benefit of fewer emissions from utilizing them, the marine industry is becoming a prominent area that uses them. For instance, according to American Oil Chemists' Society (AOCS), the global market for bio-lubricants is predicted to rise from $2 billion, which was indicated in the year 2020 to $2.4 billion, which is projected for the year 2025, as environmental rules and regulations in the marine industry improve. Therefore a rise in demand for bio-lubricants drives the growth of the marine lubricants market. Strategic collaborations between companies are a key trend gaining popularity in the marine lubricant market. Companies manufacturing marine lubricants are undergoing partnerships and collaboration to develop new technologies and products. For instance in April 2021, Crown oil, a fuels, and lubricants distribution company located in Bury, Greater Manchester, England, and Valvoline, an American manufacturer and distributor of automotive oil, additives, and lubricants involved in a partnership. The deal enables Crown oil to offer a wide range of high-quality Valvoline products to the heavy-duty, agricultural, fleet, and marine sectors and allows Valvoline to explore the base oil market as they do not refine their base oils from crude oil. In another partnership, in August 2021, Wilh. Wilhelmsen Holding ASA, a Norwegian multinational maritime group, headquartered in Lysaker, Norway entered into a partnership with Klubler Lubricants, a leading manufacturer of specialty lubricants based in the US. The deal enables Wilhelmsen holdings to take over sales, logistics, and consulting of Klüber Lubrication’s maritime portfolio for its sea-going vessels. In May 2019, Chevron U.S.A Inc (CUSA), a wholly-owned subsidiary of Chevron Corporation, a multinational energy corporation based in the US, completed its acquisition of Pasadena Refining System from Petrobras America Inc. for a deal amount of $350 million dollars. This acquisition strengthens Chevron's Gulf Coast business, allowing them to serve more of the region's retail lubricant market with Chevron-produced products and putting them in a better position to connect to their Permian Basin upstream assets. Petrobras America, Inc. is a subsidiary of Petrobras Brazil, a state-owned oil firm with headquarters in Houston, Texas. In the Gulf of Mexico, the corporation is involved in oil exploration and the production of marine lubricants. Major players in the marine lubricants market are BP plc, Royal Dutch Shell plc, Exxon Mobil Corporation, Chevron Corporation, Sinopec Corporation, PJSC Lukoil, Idemitsu Kosan Co. Ltd., Total S.A., Castrol, Gulf Oil Marine, Synforce Lubricants., Valvoline LLC, PetroChina, Eni S.p.A, Croda International Plc, Bailey’s Marine Fuels, Quepet Lubricants, JX Nippon Oil & Energy Corporation, IKO Marine Lubricant Supply Co. Ltd, Repsol SA, Aegean Oil SA, Fuchs Lubricants Co., Indian Oil Corporation Ltd. (IOCL), and Stanley Lubricants. Asia Pacific was the largest region in the marine lubricants market in 2021. The regions covered in the marine lubricants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the marine lubricants market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The global marine lubricants market is segmented - 1) By Product Type: Engine Oil, Hydraulic Oil, Turbine Oil, Gear Oil, Greases, Others 2) By Oil Type: Mineral Oil (Paraffinic Oil, Naphthenic Oil, Aromatic Oil), Synthetic Oil (PAO, PAG, Esters), Bio-Based (Plant Source, Animal Fats), Grease (Metallic Soap Thickener, Non-Soap Thickener, Inorganic Thickener) 3) By Ship Type: Bulk Carriers (Handysize, Handymax, Panamax, Capesize), Tankers (Panamax, Aframax, Suezmax, Very Large Crude Carrier (VLCC), Ultra Large Crude Carrier (ULCC)), Container Ships, Others (Reefers, Drill Ships, Passenger Ships, Roll On Roll Off Ships, Service Ships)