Oil & Gas Armored Cable Market By Type (Power Cables, Control Cables, Instrumentation Cables, Data Cables); By Material (Aluminum, Stainless Steel, Galvanized Steel); By End-Use (Onshore Oil & Gas Production, Offshore Oil & Gas Production, Refining & Processing, Pipeline Infrastructure); By Application (Power Transmission, Telecommunication, Data Transfer, Instrumentation and Control); By Geography, Segment revenue estimation, Forecast, 2024–2032.

The oil & gas armored cable market was worth USD 13.75 billion in 2023 and will be worth USD 20.62 billion by 2030, growing at a CAGR of 5.2% during the forecast period.

 

The oil & gas armored cable market is also growing due to the rising need for cables that can operate efficiently in highly risky such as oil and sea drilling, oil refineries, and other hazardous places. The global oil and gas industry is expected to witness further investments in exploration and extraction, particularly in offshore drilling, which contributes over 30% of global oil production. Such signals require armored cables, which are developed specifically to maintain their structural integrity and to operate appropriately in various climates, physically abusive environments, and under conditions of substantial corrosive attack. For instance, the increasing trend in paying more attention to deepwater and ultra-deep water projects in locations such as the Gulf of Mexico and the North Sea needs cables that can comfortably work under high pressure and underwater environments. These advancements help to meet the emergent need for cables to have a longer life in upstream and downstream activities in the oil and gas industry, thereby driving the market.

 

The Oil & Gas Armored Cable market holds immense growth potential, exhibited by the rising interest in offshore and onshore oil exploration. More than 30% of crude is produced offshore, and there are signs that offshore, particularly the ability for drills at deeper levels, will grow further in fields such as the Gulf of Mexico and offshore West Africa. These growths lead to the need to use armored cables that are enduring in severe conditions, high or even pressure, and sometimes need to work in extreme temperatures. The latest improvements in the armored cable are improved corrosion protection and fire resistance; this identifies those cables for use in deep water environments and high heat temperature oil production fields. For instance, in the Middle East, drilling projects initiating new projects are optionally using armor cables that supply power and data with the most effective method of functionality and safety in highly corrosive regions. This increasing trend towards safety and reliability creates greater opportunities for armored cable manufacturers in the oil and gas industry.

 

 

Market Segmentation

By Type:

• Power Cables

• Control Cables

• Instrumentation Cables

• Data Cables

 

By Material:

• Aluminum

• Stainless Steel

• Galvanized Steel

 

By End-Use:

• Onshore Oil & Gas Production

• Offshore Oil & Gas Production

• Refining & Processing

• Pipeline Infrastructure

 

By Application:

• Power Transmission

• Telecommunication

• Data Transfer

• Instrumentation and Control

 

By Region

North America

• US

• Mexico

• Canada

• Rest of North America

 

Europe

• Switzerland

• Russia

• France

• Germany

• U.K

• Finland

• Turkey

• Netherlands

• Belgium

• Spain

• Italy

• Rest of Europe

 

Asia Pacific

• India

• China

• South Korea

• Japan

• Singapore

• Thailand

• Indonesia

• Malaysia

• Philippines

• Australia

• Rest of Asia-Pacific

 

LAMEA

• Brazil

• Argentina

• Uruguay

• Saudi Arabia

• Rest of LAMEA

 

North America leads the Oil & Gas Armored Cable market due to the high investment in the exploration and production of O&G onshore and offshore. The United States produces about 18 million barrels of oil daily and ranks among the world's top oil producers, and the Gulf of Mexico is a hub of Offshore Oil drilling. It also demands armored cables with high production capacity that can withstand the challenging conditions of deepwater drilling, high and low temperatures, and corrosive atmospheres. A recent development uses superior armored cables in new deepwater installations in the Gulf of Mexico for power and data transmission. These cables are intended for use in extreme environments, thus boosting operation efficiency and safety. Also, the continuous development of infrastructure for the U.S. shale industry also burdens the armor requirement of cables, contributing to the North American dominance in the global market.

 

Key Players

• Nexans S.A.

• Prysmian Group

• Belden Inc.

• Southwire Company, LLC

• General Cable

• LS Cable & System Ltd.

• ABB Ltd.

• Sumitomo Electric Industries, Ltd.

• TPC Wire & Cable Corp.

• ZTT International Limited

 

Oil & Gas Armored Cable Market Report Coverage

Report Attribute	Details
Forecast Period	2023 – 2030
Market Size Value in 2023	USD 13.75 billion
Revenue Forecast in 2030	USD 20.62 billion
Overall Growth Rate	CAGR of 5.2%
Base Year for Estimation	2022
Historical Data	2017 – 2021
Unit	USD Billion, CAGR (2023 - 2030)
Segmentation	By Type, By Material, By End-Use, By Application, By Region
By Type	Power Cables, Control Cables, Instrumentation Cables, Data Cables
By Material	Aluminum, Stainless Steel, Galvanized Steel
By End-Use	Onshore Oil & Gas Production, Offshore Oil & Gas Production, Refining & Processing, Pipeline Infrastructure
By Application	Power Transmission, Telecommunication, Data Transfer, Instrumentation and Control
By Region	North America, Europe, Asia Pacific, LAMEA
Country Scope	US, Mexico, Canada, Germany, UK, France, China, Japan, India, etc.
Pricing and Purchase Options	Avail customized purchase options to meet your exact research needs.