Hybrid Cable Market Size, Share & Industry Analysis, By Cable Type (Fiber Optics Cables, Coaxial Cables, Copper Cables, and Others), By Transmission (AC Power and DC Power), By Application (Onshore and Offshore), By End-User (Telecommunication, Power Transmission, Oil & Gas, Railways, Medical, and Others), and Regional Forecast, 2024-2032

The global hybrid cable market was valued at USD 7.47 billion in 2023. The market is projected to grow from USD 7.86 billion in 2024 to USD 12.69 billion by 2032, growing at a CAGR of 6.17% during the forecast period.

A hybrid cable is a combination of multiple cables such as optic fiber and copper within a single physical structure designed to carry electrical and network signals simultaneously. It consists of multiple insulated conductors for carrying electrical signals and one or more optical fibers for transmitting light-based signals. The electrical conductors are used for power transmission, while the optical fibers are used for high-speed data transmission over long distances. The global market is growing owing to the increasing demand for high-speed and reliable data services across various industries. These cables are designed to meet the functionality, complexity, applications, and service demands of ultra-high reliability and higher bandwidth, thereby supporting the evolving needs of network infrastructure.

The global impact of COVID-19 on the hybrid cable market is moderate, as it hampered the consumption of many end-user industries due to disruptions in the supply chain of raw materials. Many industries that utilize these cables, such as telecommunication and power, experienced a decline in demand during the pandemic. Reduced production and sales led to a decreased demand for these cables used in these sectors. Due to the shutdown of manufacturing units and the lack of skilled professionals to install the technology, the market was impacted negatively.

Hybrid Cable Market Trends

Increasing Offshore Power Projects for Electricity and Data Transmission to Create Opportunities for Market Growth

In offshore application, these cables are engineered for electrical power and other instrumentation for offshore units. They act as a crucial conduit and serve as the lifeline for electric power supply, thus facilitating data instrumentation processes. Modern cables are engineered to perform efficiently in extreme temperatures and they exhibit resistance to humidity, oil, acid, and saltwater corrosion. In addition, compliance with stringent safety standards is paramount due to their operation in isolated environments with limited emergency accessibility. In the challenging offshore environment, these cables prove durable and robust during harsh conditions. Moreover, the design of such cables prioritizes the highest level of protection against fire and flame-related hazards. Offshore cables are also well adept at resisting mud and are halogen-free, providing resilience in harsh environments.

The increasing number of offshore projects is expected to create lucrative opportunities for the market. Countries around the world are investing in offshore projects for energy and power requirements and to achieve global climate targets. For instance, recently in April 2022, Germany and the U.K. signed a project with Siemens Energy valued a over USD 1.95 billion for a major interconnector project that will link Germany and the U.K. as countries around the world attempt to shore up their energy supplies amid the ongoing crisis in Ukraine. The project named NeuConnect is centered on subsea-hybrid-cables that will enable 1.4 GW of electricity transmission in both directions across the 725 km (450 miles) interconnector.

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Hybrid Cable Market Growth Factors

Emerging Need for Fast and Cost-optimized Network Rollouts to Drive the Network Expansion

With modernization and increasing requirements for fast network systems, mobile and data networks are growing more expansive and complex. Increased customer use of artificial intelligence (AI) and cloud services across a wide range of key industries has also prompted networking expansion. Using hybrid-cable supports high-speed data transmission over long distances, ensuring the seamless operation of fast networks and power systems. These cables offer several advantages and fulfill the requirements of high-speed internet and bandwidth, where power is of similar importance.

With 5G network rollouts, providers need cabling solutions to provide smarter solutions that offer less cable-intensive options, saving resources and costs, while maximizing space and time. Hybrid-cables are poised to address these problems and future requirements. These cables are a blend of both copper cable and optic fiber. They replace all legacy cables and power cables with one cable and an integrated divider that houses all power cables and optimal jumpers. By combining optical fiber's high performance and low latency with copper's low voltage D.C. power connection, these cables offer an efficient solution for modern network infrastructure.

According to the International Energy Agency report on Data Centers and Data Transmission Networks in 2023, mobile data traffic is projected to increase rapidly, quadrupling by 2028. It’s projected that 5G will account for nearly 70% of mobile network traffic by 2028. Decommissioning of legacy networks such as 2G and 3G offers a major opportunity to reduce mobile network energy use. Additionally, managed phase-outs of legacy networks will ensure the continued functionality of existing services and devices, such as smart meters.

Increasing Inclination toward Industrial Automation to Drive the Demand for Hybrid Cables

Industrial automation cable systems play a crucial role in transmitting signals, data, and power within industrial automation systems, offering resilience in challenging industrial and external environments. The market for these specialized cables is steadily growing, driven by the widespread adoption of automation systems across diverse industries such as manufacturing, oil and gas, automotive, and pharmaceuticals. Industrial automation depends heavily on the seamless connectivity of devices and systems in the manufacturing unit. Industrial automation cables facilitate the smooth flow of data between programmable logic controllers (PLCs), sensors, actuators, and other components.

Moreover, industrial environments are rough with electromagnetic interference from motors, power lines, and other equipment, making these cables essential for ensuring safety, security, and efficient data and power connection. For industrial purposes, these cables are designed with shielding and insulation to protect the transmitted data from EMI, ensuring a reliable and stable communication network. This interconnectedness of these cables is crucial for the creation of intelligent, responsive manufacturing systems in the industrial sector. These factors are driving the demand for these cable in industrial sector and hybrid cable market growth.

Many major players are investing in R&D to launch new hybrid cables with better efficiency and sustainable ratios. For instance, in November 2022, igus launched its new ready-to-connect these cables that save installation space, weight, and construction time. The latest addition includes two models: a hybrid cable for motors from SEW-EURODRIVE with the MOVILINK DDI interface and a hybrid-cable for Siemens servo, which drives suitable for SINAMICS S210. This new design, coupled with high-quality materials, ensures the reliability of these cables for continuous use in energy chains, even in compact applications.

RESTRAINING FACTORS

High Cost and Complex Cable Installation to Restrain Market Growth

The growth of the market has been restrained by the time-consuming and complex cable installation process, particularly over longer distances. Cable installation process requires time, as it involves multiple and complex stages along with final testing, which demands planning and processing. Cable installation is a highly complex and slow process that requires specialized equipment and skilled personnel. The installation involves multiple stages, including cable laying, jointing, and termination, each requiring careful planning and execution. This process can take several months for longer distances, leading to delays in project timelines and increased costs.

Companies are increasingly investing in new technologies and innovative solutions to overcome these challenges and accelerate the growth of the market. For instance, in 2022, Prysmian Group announced the delivery of the unique battery-hybrid cables laying vessel Leonardo da Vinci, designed to improve installation efficiency and speed of cable significantly. The vessel features new generation cable technology armored with lighter materials, maximum speed slightly above 16 knots, and bollard pull over 180 tones, which enable faster and more efficient cable installation. Furthermore, the vessel has a DP3 positioning and seakeeping system, ensuring maximum stability during operations.

Hybrid Cable Market Segmentation Analysis

By Cable Type Analysis

Fiber Optic Cable Dominates the Market as these Cables Allows the Transmission Over Long Distances With Minimal Loss And Distortion

Based on cable type, the global hybrid cable market is segmented into fiber optic cables, coaxial cables, copper cables, and others.

Fiber optic cable dominates the global market since it allows the transmission of light signals over long distances with minimal loss and distortion. With the increasing demand for high speed internet, streaming services, and data-intensive applications, fiber optic cables provide superior performance and meet the requirements of modern technology. Globally, old fiber optics are replaced and repaired, and new projects are underway. For instance, Hifi (Canada) partnered with Trans Mountain to complete the world's longest fiber optic sensing deployment on a liquids pipeline while ensuring comprehensive pipeline integrity.

Copper cables are the second leading cables in the market after fiber optic cables. Copper cables are widely accepted for their low cost, especially for short-distance applications or installations with lower bandwidth requirements. These cables are ideal for transmission in remote locations where standard power is unavailable or costly, and PoE (Power over Ethernet) is also not reachable.

By Transmission Type Analysis

DC Segment Dominates the Market as DC Cables Transfer Active Power with Minimum Loss

Based on transmission type, the global market is segmented into AC power and DC power.

DC (Direct Current) power holds the largest market share and is expected to dominate the market over the forecast period. Based on the pace of development in power infrastructure for large capacity, long distance, high economic efficiency, high reliability, and low environmental impact, the development of distributed energy, offshore wind power delivery, and development of island resources will also rely on DC cables for power transmission. Therefore, the research and development of high-voltage DC cables is particularly

AC power transmission is advantageous due to efficient power conversion in devices such as the direct-current toalternating-current power supply conversion devices. This conversion reduces losses, simplifies control, and enhances overall efficiency. AC has historically dominated due to easier voltage conversion. The existing power infrastructure, including transformers and AC transmission lines, is predominantly designed for AC power transmission. As a result, AC cables continue to be widely used and constitute a significant portion of the market.

By Application Analysis

Onshore Segment Dominates the Market owing to Modernization of Grids Systems Globally

Based on application, the global hybrid cable market is segmented into onshore and offshore.

The onshore application segment dominates the market as onshore applications are increasing globally due to rapid advancements in infrastructure development, especially in emerging economies, thus this is expected to cause moderate growth of the market over the forecast period. This expansion drives the market demand for cables for onshore applications. Modernization of grids, facilitated by smart grid technologies necessitates advanced communication and control systems, thereby increasing the need for this  cables. These factors are aiding the growth of these segments.

Offshore applications are majorly used for renewable wind energy and the oil & gas industry. Companies and major countries are also investing in offshore installation services for the installation of hybrid-cables and other subsea cables. In October 2023, Jan De Nul received an order from China's CMHI Haimen shipyard for an extra-large size cable laying ship, which is equipped with an "unrivaled" cable-carrying capacity. The vessel, with a cable carrying capacity of 28,000 tons, is designed to install cables over longer distances and in deeper waters, catering specifically to the renewable energy sector and the subsea cable market.

By End-User Analysis

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Telecommunication Segment Holds Major Share of the Market due to Surge In Digital Adoption and Digital Economy

Based on end-user, the market is segmented into telecommunication, power transmission, oil & gas, railways, and medical.

Telecommunication segment dominates the market and expected to be the fastest growing segment over the forecast period.  The high demand for hybrid cables in this sector is primarily driven by the global rollout of 5G networks, the need for efficient broadband infrastructure like FTTH, and the surge in data traffic. They enable faster, long-distance data transmission and are ideal for powering equipment while maintaining legacy system compatibility.

Power transmission is the second fastest-growing end-user industry in the world. It relies on a robust electrical grid infrastructure to efficiently distribute electricity across long distances. Hybrid cables combine the benefits of fiber optic and copper cables and can serve dual purposes by enabling data communication and power transmission within a single infrastructure. This integration results in cost savings, streamlined maintenance, and enhanced monitoring capabilities for power transmission networks.

REGIONAL INSIGHTS

By geography, the market has been studied across five main regions: North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa.

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The Asia Pacific region is the leading the global hybrid cable market share, owing to directing efforts toward improving its grid infrastructure and advancing data infrastructure development. Various collaborations and partnerships are being made for underwater or subsea cable installation, alongside overnment investments in sustainable renewable energy, such as wind energy and subsea projects. The region possesses a strong R&D infrastructure with significant investments in research and innovation. This enables companies to continually develop and improve cable technologies, giving them a competitive edge in the market.

North America region is expected to witness significant growth in internet usage over the years. The telecom industry particularly in wireless telecommunications has witnessed remarkable expansions, propelled by the introduction and implementation of 5G technology. Existing data infrastructure and installation of new 5G technology is expected to boost the use of hybrid cables in the region, thus driving the market growth.

Europe is expected to witness moderate growth over the forecast period, as the region has well maintained existing cable strucures. The market in the region will grow in the repair and upgradation of cable sector. The region benefits from a wide array of cable type and serves as a crucial link to the global network through submarine cables carrying intercontinental data. As part of the European Green Deal, countries are focusing on improving their offshore green energy capacity through various new installations and investments.  For instance, in order to achieve climate ambitions, Belgium's federal government is exploring partnerships with countries producing a surplus of renewable energy. In February 2021, the Minister of Energy Tinne Van der Straeten signed the first agreement for the installation of a 500-kilometers-long underwater power cable between Belgium and Denmark. This initiative aimed to access inexpensive Danish wind energy directly, ensuring a secure supply for Belgium.

Latin America has experienced progress in both 4G and 5G connections, with total LTE connections reaching almost 582 million by 2023. Over 40 million new connections are being added year over year. Moreover, countries in this region are embracing the 5G revolution, with 39 million 5G connections established in 2023, thus creating opportunities for the market to grow.

KEY INDUSTRY PLAYERS

Key Market Players are Focuing on Delivering a Wide Range of Products

The global hybrid cable competitive landscape is highly fragmented, with large and some medium-scale regional players delivering a wide range of products at local and country levels across the value chain. Companies are focusing on expanding further in the market to gain higher market shares.

List of Top Hybrid Cable Companies:

• NEXANS (France)


• Prysmian Group (Italy)


• HUBER+SUHNER (Switzerland)


• Hexatronic Group (Sweden)


• BELDEN Inc. (U.S.)


• CommScope (U.S.)


• SCHUNK SE & Co. KG (Germany)


• Eupen Cable USA (U.S.)


• Galaxy Wire & Cable, Inc. (U.S.)


• New England Wire Technology (U.S.)


• Optical Cable Corporation (U.S.)


• Klotzs GmbH (Germany)


• Fiber Connections Inc (Canada)


• SAB Brockskes GmbH & Co. (Germany)


• Leoni (Germany)

KEY INDUSTRY DEVELOPMENTS:

• June 2023- Hexatronic Group AB signed an agreement to acquire Fibron BX, Ltd, which is a leading original equipment manufacturer (OEM) within harsh environments electro-optical cables from Rubicon Partners. The acquisition is aimed at helping Hexatronic strengthen its market position as a comprehensive provider of high-quality products and specialty underwater cables.


• May 2023- Belden Inc., a leading global supplier of network infrastructure and digitization solutions, launched Hirschman Firewall, 4-Channel SMPTE Cable, and VFD Cable Glands. These five new products provide enhanced security, better performance, and seamless integration.


• March 2023- Hexatronic acquired Rochester Cable, which is one of the leading manufacturers of harsh environment electro-optical cables in the U.S., from TE Connectivity Corporation. The agreement broadens Hexatronic’s product offerings for fiber optic submarine communication cables, which include dynamic working cables that can transmit electrical signals and power.


• March 2023- Belden released the industry's first UL-Certified Hybrid Cable for Class 4 circuits, called Fault-Managed Power System (FMPS) Hybrid Cables. These cables are designed to safely support power at higher levels and over longer distances compared to previous power-limited circuits, which were limited to 100W. These cables are certified by Underwriters Laboratories (UL) for Class 4 compliance and also transmit power and data over long distances in a single cable run, thus saving installation time and reducing complexity.


• November 2021- Nexans opened a new facility in Charleston, South Carolina, to manufacture the high-voltage DC subsea cables, aiming to meet the increasing demand for subsea cables and increase the capacity of renewable energy generation.

REPORT COVERAGE

The report provides a detailed analysis of the market and focuses on key aspects such as major key players, product/service types, and leading applications of the product. Besides, the report offers insights into the market trends and highlights key industry developments. In addition to the factors above, the report encompasses several factors that contributed to the growth of the market in recent years.

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