Global Electric Submersible Cables Market Size, Share, Opportunities, And Trends By Insulation Type (Polypropylene, Ethylene Propylene Diene Monomer), By Cable Type (Flat, Round, Motor Lead Extension), By Application (Oil and Gas, Agriculture, Mining, Construction), And By Geography - Forecasts From 2025 To 2030

Electric Submersible Cables Market Size:

Global Electric Submersible Cables Market, at a 3.08% CAGR, is projected to increase from USD 2.908 billion in 2025 to USD 3.385 billion in 2030.

Electric Submersible Cables Market Key Highlights:

• Increasing offshore drilling operations are driving demand for durable electric submersible cable systems.
• Expanding renewable energy infrastructure is requiring reliable underwater power transmission solutions globally.
• Growing urban and industrial developments are creating demand for submersible cables in water treatment systems.
• Rising agricultural irrigation needs are boosting electric submersible cable use in developing economies.

Electric Submersible Cables Market Trends:

Electric submersible cables that supply electricity to submersible pumps for artificially raising oil and gas reserves, offshore drilling rigs, mine dewatering, irrigation in gardens and farms, industries, water fountains, water for drinking supply, wastewater treatment facilities, seawater filtration plants, swimming pools, and aquariums. The demand for electrical submersible pumps and cables is inversely correlated with the global market for electric submersible cables. The market for electric submersible pumps used for agriculture has grown due to the increasing use of advanced technology in agriculture and the depletion of water resources, which has also impacted the expansion of the global electric submersible cable market size.

Electric Submersible Cables Market Growth Drivers:

• Increasing infrastructural development and renewable energy resources to fuel market expansion.

Electric submersible cables are in high demand because of the rising need for oil and gas, particularly from offshore sources, which calls for dependable power transmission solutions. Further, due to the growing adoption of offshore turbine farms and other renewable energy projects, submersible cables are required for effective power transmission. Additionally, electric submersible cables are needed for infrastructure projects like desalination plants, treatment plants for wastewater, and underwater mining operations, increasing the global electric submersible cables market.

• High demand for electric submersible cables by emerging markets to boost market growth.

Electric submersible cables can rise significantly in developing regions like Asia-Pacific and Latin America thanks to expanding industrial activity, improved infrastructure, and offshore exploration operations. The market for electric submersible cables has chances to meet the needs of these projects' power transmission needs because of the increasing attention being paid to clean sources of energy, particularly offshore wind farms. For instance, Singapore's tremendous infrastructure potential and a focus on growing offshore production. Although MEA is likely the industry leader in hydrocarbon production, they have recently shifted their attention to offshore production to accommodate the rising demand for hydrocarbons.

• Expansion of subsea communication network

The demand for electric submersible cables is being fueled by the growth of subsea communication networks, which is being driven by the requirement for underwater data transfer. These cables provide for dependable and quick data transfer for applications such as internet connectivity, telecommunication, and other subsea communication. The demand for electric submersible cables is rising as a result of technological developments in subsea machinery and systems, including subsea processing and electrical distribution. Strict performance standards in terms of dependability, efficiency, and longevity must be met by these cables, which increases the global electric submersible cables market size.

• Rising use in the oil & gas industry

Due to the considerable usage of electric submersible cables in offshore oil and gas exploration, manufacturing, and extraction activities, the oil and gas sector has been a big consumer of these cables. In subsea installations, such as subsea wellheads, subsea production systems, and subsea processing systems, submersible cables are used. With these cables, dependable power transmission in submerged situations is ensured despite challenging environmental factors such as high pressure, rust, and mechanical stress. Electric submersible cables are used in the agriculture industry for aquaculture operations, submersible pumps, and irrigation systems which are increasing the global electric submersible cables market share in the oil and gas sector.

• Shale gas extraction uses a few electrical submersible pumps.

The gas lift technique is commonly employed for artificial lift devices for shale gas with the advent of the shale gas boom, mainly in the United States. Following the United States lead, nations all over the world are currently assessing whether it is feasible to produce shale gas resources. The shale gas business in the US and the predominance of beam pump and gas lift systems as artificial lift technologies. Further, it is anticipated that the electrical submersible cables market will suffer in the years to come due to the low employment of electrical submersible pumps in the extraction of shale gas.

Electric Submersible Cables Market Geographical Outlook:

• North America is projected to be a significant electric submersible cable marketplace.

The North American region is anticipated to lead the global electric submersible cables market during the projected period. There has been an increase in offshore activity, with a focus on raising offshore output. North American offshore oil and gas production is heavily reliant on the USA and Canada. Many ESPs are used to pump oil from deep wells to the surface. In anticipation of the growth of the ESP cable industry, electric submersible pumps are frequently employed in agriculture, residential, maritime, and harsh weather conditions for dewatering purposes. To fulfill the rising energy demand, which is driving the ESP cable market, European nations are anticipated to enhance their offshore output.

Electric Submersible Cables Market Products:

• The installation of the TransCoil™ rigless-deployed electrical submersible pumping (ESP) system, which is intended to assist operators in bringing wells online more quickly and reduce the costs associated with installing and upgrading ESPs. Operators can minimize postponed production and reduce their overall lifting costs to increase the economic life of their assets because they can do away with the need for a rig in fields where rig availability is a constraint or where high intervention costs can restrict artificial lift alternatives. The ESP is inverted in the TransCoil™ rigless-deployed ESP system, with the motor on top directly coupled to the power cords.
• Cable Multiflex CT600 is multiconductor cable consisting of two, three, four, or even five copper flexible conductors with a maximum DC resistance of conductor at 20 degrees Celsius. The light duty cable is suitable for low voltage electrical power distribution installed in sumps, ducts and gutters, and also for installations for cables trays in dry, moisture, as well as wet environments and outdoors.

Electric Submersible Cables Companies:

• Baker Hughes, Inc.
• Havells India Ltd.
• Jainson Cables India Pvt. ltd
• Nexans SA
• Prysmian Group

Global Electric Submersible Cables Market Scope:

Report Metric	Details
Electric Submersible Cables Market Size in 2025	USD 752.800 million
Electric Submersible Cables Market Size in 2030	USD 1,625.434 million
Growth Rate	CAGR of 16.64%
Study Period	2020 to 2030
Historical Data	2020 to 2023
Base Year	2024
Forecast Period	2025 – 2030
Forecast Unit (Value)	USD Million
Segmentation	Insulation Type Cable Type Application Geography
Geographical Segmentation	North America, South America, Europe, Middle East and Africa, Asia Pacific
List of Major Companies in the Electric Submersible Cables Market	Baker Hughes, Inc. Havells India Ltd. Jainson Cables India Pvt. ltd Nexans SA Prysmian Group
Customization Scope	Free report customization with purchase

 

Segmentation:

• By Insulation Type
  • Polypropylene
  • Ethylene Propylene Diene Monomer
• By Cable Type
  • Flat
  • Round
  • Motor Lead Extension
• By Application
  • Oil and Gas
  • Agriculture
  • Mining
  • Construction
• By Geography
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Indonesia
    • Thailand
    • Others

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1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years Timeline

2. RESEARCH METHODOLOGY  

2.1. Research Data

2.2. Assumptions

3. EXECUTIVE SUMMARY

3.1. Research Highlights

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Force Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

5. GLOBAL ELECTRIC SUBMERSIBLE CABLES MARKET, BY INSULATION TYPE

5.1. Introduction

5.2. Polypropylene

5.3. Ethylene Propylene Diene Monomer

6. GLOBAL ELECTRIC SUBMERSIBLE CABLES MARKET, BY CABLE TYPE

6.1. Introduction

6.2. Flat 

6.3. Round

6.4. Motor Lead Extension

7. GLOBAL ELECTRIC SUBMERSIBLE CABLES MARKET, BY APPLICATION

7.1. Introduction

7.2. Oil and Gas

7.3. Agriculture

7.4. Mining

7.5. Construction

8. GLOBAL ELECTRIC SUBMERSIBLE CABLES MARKET, BY GEOGRAPHY

8.1. Introduction 

8.2. North America

8.2.1. USA

8.2.2. Canada

8.2.3. Mexico

8.3. South America

8.3.1. Brazil

8.3.2. Argentina

8.3.3. Others

8.4. Europe

8.4.1. Germany

8.4.2. France

8.4.3. United Kingdom

8.4.4. Spain

8.4.5. Others

8.5. Middle East And Africa

8.5.1. Saudi Arabia

8.5.2. UAE

8.5.3. Israel

8.5.4. Others

8.6. Asia Pacific

8.6.1. China

8.6.2. Japan

8.6.3. India

8.6.4. South Korea

8.6.5. Indonesia

8.6.6. Taiwan

8.6.7. Others

9. COMPETITIVE ENVIRONMENT AND ANALYSIS

9.1. Major Players and Strategy Analysis

9.2. Emerging Players and Market Lucrativeness

9.3. Mergers, Acquisitions, Agreements, and Collaborations

9.4. Vendor Competitiveness Matrix

10. COMPANY PROFILES

10.1. Baker Hughes, Inc.

10.2. Havells India Ltd.

10.3. Jainson Cables India Pvt. ltd

10.4. Nexans SA

10.5. Prysmian Group

10.6. Schlumberger Ltd.

10.7. Siemens AG

10.8. Southwire Company LLC

10.9. Superstar Cable Industries

10.10. V-Guard Industries Ltd.

Baker Hughes, Inc.

Havells India Ltd.

Jainson Cables India Pvt. ltd

Nexans SA

Prysmian Group

Schlumberger Ltd.

Siemens AG

Southwire Company LLC

Superstar Cable Industries

V-Guard Industries Ltd