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Oil & Gas Armored Cable Market Size - By Armor Type (Interlocked and Continuous Corrugate Welded), By Core Type (Single Core and Multi Core), Regional Outlook & Forecast, 2024 - 2032

  • Report ID: GMI9239
  • Published Date: Apr 2024
  • Report Format: PDF

Oil & Gas Armored Cable Market Size

Oil & Gas Armored Cable Market was valued at USD 12.1 billion in 2023 and is anticipated to grow at a CAGR of over 8.1% between 2024 and 2032, driven by the expanding exploration and production activities in both conventional and unconventional oil and gas reserves. The increasing focus on safety standards and regulations in the oil and gas industry prompts the adoption of armored cables known for their resistance to abrasion, chemicals, and extreme temperatures, ensuring uninterrupted operations.

Oil & Gas Armored Cable Market

The growing investments and rising number of oil & gas exploration projects in will further fuel the demand for armored cables. Numerous oil & gas companies have recently finalized several exploration and production agreements. Furthermore, technological advancements in cable design, such as improved materials and construction techniques, will also enhance performance and longevity, contributing to market expansion.

Oil & Gas Armored Cable Market Trends

The latest trends in the oil & gas armored cable industry indicate a shift towards enhanced durability and safety features. Manufacturers are investing in materials and designs that offer superior protection against corrosion, abrasion, and impact. Additionally, there's a growing emphasis on sustainability, prompting the development of eco-friendly materials and production processes. Digitalization and IoT integration are also gaining traction, enabling real-time monitoring of cable health and performance, leading to proactive maintenance and reduced downtime.

As the industry moves towards deeper offshore exploration and remote locations, demand for cables with higher tensile strength and flexibility is increasing. These trends reflect the industry's commitment to improving operational efficiency, safety, and environmental responsibility in the extraction and transportation of oil and gas resources.

Oil & Gas Armored Cable Market Analysis

Oil & Gas Armored Cable Market Size, By Armor Type, 2022-2032 (USD Billion)

Based on armor type, the interlocked armored cable market is estimated to exceed USD 13.5 billion by 2032 since it provides better flexibility, which allows for easier installation in tight spaces and around bends. Additionally, interlocked cables often have higher crush resistance, making them suitable for use in harsh environments or where there is a risk of physical damage.

Oil & Gas Armored Cable Market Revenue Share, By Core Type, 2023

Based on core type, the multi core armored cable market is predicted to observe about 6.8% CAGR from 2024 to 2032, on account of its flexibility and efficiency in transmitting power and signals over long distances. The multi-core configuration allows for multiple conductors within a single cable, which enables the transmission of various signals simultaneously, optimizing space and reducing installation costs.

Asia Pacific Oil & Gas Armored Cable Market Size, 2022-2032, (USD Billion)

Asia Pacific oil & gas armored cable market is projected to surpass USD 9.1 billion by 2032 since it is home to major oil and gas producers and consumers, making it a crucial market for armored cables used in exploration, production, and transmission activities. Countries in Asia Pacific hold vital positions in this market due to multiple factors. China's infrastructure boom and Belt and Road Initiative spur demand, while Japan's advanced technology sector and stringent safety standards drive reliance on high-quality cables.

India's electrification efforts and industrial expansion boost market growth, alongside South Korea's import reliance and manufacturing demands. Australia's role as a major natural resource exporter amplifies the need for durable cables in mining and offshore operations, cementing its significance in the global market.

The U.S. plays a pivotal role in the oil & gas armored cable market due to its significant oil and gas production, infrastructure development, and technological advancements. As one of the largest consumers and producers of oil and gas globally, its demand for armored cables for drilling, extraction, and transportation is substantial. Moreover, its advanced manufacturing capabilities and innovation in energy sector technologies make it a key player in producing high-quality armored cables.

Oil & Gas Armored Cable Market Share

Oil & Gas Armored Cable Company Market Share Analysis, 2023

Companies like Prysmian, Belden, and Nexans dominate the oil and gas armored cable market due to several factors. They possess extensive experience and expertise in manufacturing high-quality cables tailored for harsh environments, meeting stringent industry standards. Additionally, their established reputations for reliability and durability attract oil and gas companies seeking dependable solutions for their operations.

Oil & Gas Armored Cable Market Companies

  • ABB
  • Belden
  • General Cables
  • Havells
  • Hallukabel
  • Leoni Cables
  • Nexans
  • NKT A/S
  • Omni Cables
  • Prysmian S.P.A
  • Polycab
  • Riyadh Cables
  • RR Kabel
  • Sumitomo Electric Industries, Ltd.

Oil & Gas Armored Cable Industry News

  • In September 2021, Nexans reached a notable achievement with the acquisition of Centelsa, a prominent cable manufacturer in Latin America. This strategic decision represented a significant advancement in Nexans' goal to strengthen its role as a committed player in electrification and to expand its footprint in the Latin American market.
  • in October 2022, NKT A/S commenced operations at a newly inaugurated high-voltage cable production tower in Europe. The company is set to produce high-voltage cables in this state-of-the-art facility, aiming for business growth through substantial investments in the high-voltage cable sector.

This oil & gas armored cable market research report includes in-depth coverage of the industry with estimates & forecast in terms of “‘000 Tonnes” & “USD Million” from 2019 to 2032, for the following segments:

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Market, By Armor Type

  • Interlocked
  • Continuously Corrugated Welded

Market, By Core Type

  • Single Core
  • Multi Core

The above information has been provided for the following countries across the regions:

  • North America
    • U.S.
    • Canada
    • Mexico 
  • Europe
    • UK
    • France
    • Netherlands
    • Italy
    • Spain
    • Germany
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Qatar
    • Kuwait
    • South Africa
    • Egypt
  • Latin America
    • Brazil
    • Argentina
    • Peru


Authors: Ankit Gupta, Utkarsh Mahajan

Frequently Asked Questions (FAQ) :

The market size of oil & gas armored cable was reached USD 12.1 billion and will grow at 8.1% CAGR during 2024 to 2032, driven by growing investments and rising number of oil & gas exploration projects.

Interlocked oil & gas armored cable market witnessed steady growth in 2023 and will exceed USD 13.5 billion by 2032, owing to its better flexibility.

Asia Pacific oil & gas armored cable industry held a decent share in 2023 and will surpass USD 9.1 billion by 2032, due to the presence of major oil & gas producers and consumers.

ABB, Belden, General Cables, Havells, Hallukabel, Leoni Cables, Nexans, NKT A/S, Omni Cables, and Prysmian S.P.A among others.

Oil & Gas Armored Cable Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 14
  • Tables & Figures: 183
  • Countries covered: 24
  • Pages: 275
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