The global underwater connectors market size was valued at USD 1.61 billion in 2020 and is expected to grow from USD 1.66 billion in 2021 to USD 2.45 billion by 2028, with a compound annual growth rate (CAGR) of 6.01% during this period. North America led the market in 2020, holding a 33.95% share.
Underwater connectors, also known as subsea or marine connectors, are essential components in deep-sea engineering. They are specifically designed to endure harsh conditions like strong vibrations, high pressure, shocks, and corrosive seawater. These connectors are vital for the success of deep-sea exploration and the sustainable use of the ocean's resources. They are used in various manned and unmanned underwater vehicles, including remotely operated vehicles (ROVs), autonomous underwater vehicles (AUVs), human-occupied vehicles (HOVs), and hybrid ROV-AUV systems.
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In addition to vehicles, underwater connectors are used in undersea observatories like the Hawaii Undersea Geo-Observatory (HUGO) and the Astronomy with a Neutrino Telescope and Abyss Environmental Research (ANTARES) project. They also support marine engineering efforts in offshore oil and gas extraction and the development of offshore renewable energy (ORE) farms.
Key Companies Involved in Underwater Connectors Market are: