The offshore energy sector is experiencing a dynamic transformation, driven by the global shift towards sustainable energy solutions. A critical component of this evolution is the subsea cable protection systems (CPS) market, which plays a vital role in ensuring the reliability and longevity of undersea cables essential for energy transmission and telecommunications.
Recent analyses indicate a robust growth trajectory for the subsea CPS market. Dataintelo reports that the global market size was valued at approximately USD 720 million in 2023 and is projected to reach USD 1.4 billion by 2032, growing at a compound annual growth rate (CAGR) of 7.5% during the forecast period. Similarly, Verified Market Reports forecasts the market to expand from USD 110.4 million in 2023 to USD 190.8 million by 2030, with a CAGR of 8.2%. This anticipated growth is largely attributed to the increasing demand for offshore wind energy and the expansion of subsea infrastructure projects worldwide.
In response to these industry trends, companies specialising in subsea protection systems are poised to capitalise on emerging opportunities. Tekmar Group plc, a UK-based provider of technology and services for the offshore energy markets, exemplifies this proactive approach. The company operates through its primary divisions: RYDER, a global engineering consultancy; Tekmar Energy, a leader in subsea cable, umbilical, and flexible pipe protection systems; and Pipeshield International, a provider of specialised subsea protection and stabilisation systems. By aligning its services with the evolving needs of the offshore energy sector, Tekmar Group plc is well-positioned to contribute to and benefit from the industry’s growth.
