The global submarine power cables market is estimated to reach USD 19.57 Billion in 2024 at a CAGR of 12.7%. Increasing adoption of offshore wind farms, growing demand for renewable grid connections, and expanding offshore oil and gas platforms are expected to drive the market during the forecast period. However, authorization process of the project and initial installation cost of the product is expected to restrain the market during the forecast period.
Submarine Power Cables Market: Report Synopsis
This market research report offers a comprehensive analysis of key market trends in the global submarine power cables market. It includes detailed discussion on historical market trends, current market dynamics, consumer landscape, growth opportunities and challenges backed by factful feedbacks. On the basis of type, the market is segmented into high voltage alternating current (HVAC) and high voltage direct current (HVDC). By material, the submarine power cables market is segmented into conductor and insulator. On the basis of voltage, the market is segmented into medium (> 66 kV), high (66 kV to 220 kV), extra high (> 220 kV to 400 kV), and ultra-high (> 400 kV). By core the market is segmented into single core and multi-core. By end use industry, the submarine power cables market is segmented into offshore renewable power generation, island and intercountry connections, and oil and gas.
The report on the submarine power cables market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Report Features |
Specifics |
Historical/Estimated/Forecasted Market Size Years |
2017-2024 |
Base Year for Market Calculation |
2018 |
Forecasted Period |
2019-2024 (2019 estimated year, forecasted up to 2024) |
Measured Units |
Value (USD Million), Volume (Kilometer) |
Segments Included |
Type, Material, Voltage, Core, End-Use Industry, and Region |
Regional Coverage |
Asia-Pacific, North America, Europe, Middle East & Africa, South America |
*Provided for top 10 companies. Subject to availability in public domain.
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