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 cable is a type of transmission cable which carry electronic power below the surface of the water. They are called submarine power cable because they usually carry electric power beneath salt water and many other water sources. For the transmission of electric power through submarine power cables, direct current (DC) is preffered because DC cables requires low reactive power than submarine AC cables. Some key players in submarine power cables market are Nexans SA, The Prysmian Group, Furukawa Electric Co Ltd, NKT A/S, and HENGTONG GROUP CO. LTD among others.
This market research report offers a comprehensive analysis of key market trends in the global 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 global 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 global 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.
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Report Features |
Specifics |
|---|---|
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Historical/Estimated/Forecasted Market Size Years |
2017-2024 |
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Base Year for Market Calculation |
2018 |
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Forecasted Period |
2019-2024 (2019 estimated year, forecasted up to 2024) |
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Measured Units |
Value (USD Million), Volume (Kilometer) |
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Segments Included |
Type, Material, Voltage, Core, End-Use Industry, and Region |
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Regional Coverage |
Asia-Pacific, North America, Europe, Middle East & Africa, South America |
For the scope of report, In-depth segmentation is offered by Forencis Research
Submarine Power Cables Market by Type
Submarine Power Cables Market, by Material
Submarine Power Cables Market, by Voltage
Submarine Power Cables Market, by Core (Qualitative Chapter)
Submarine Power Cables Market by, End-Use Industry
Submarine Power Cables Market by Region
1 INTRODUCTION
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.4 Regional Coverage
1.5 Research Timeline
1.6 Assumptions
1.7 Limitations
2 RESEARCH DESIGN & SCOPE
2.1 Introduction
2.2 Primary Research
2.2.1 Key Industry Expert Insight
2.3 Secondary Research
2.3.1 Vital Data from Secondary Sources
2.4 Market Size Estimation
2.5 Data Validation & Triangulation
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Introduction
4.2 Drivers
4.2.1. Increasing adoption of offshore wind farms
4.2.2. Growing demand for renewable grid connections
4.2.3. Expanding oil and gas offshore platforms
4.3 Restraints
4.3.1. Initial installation cost of the product
4.3.2. Authorization process of the project
4.4 Opportunities
4.4.1. Marine renewable energy sector
4.4.2. Increasing demand for high voltage direct current (HVDC) submarine power cable
4.5 Challenges
4.5.1. Cable damage through human interventions
5 INDUSTRY TRENDS – PORTERS FIVE FORCES ANALYSIS
5.1 Introduction
5.1.1. Power of Buyers
5.1.2. Power of Suppliers
5.1.3. Intensity of Competition
5.1.4. Challenges of Substitutes
5.1.5. Challenges of New Entrants
5.2 Macro-Economic Indicators
6 GLOBAL SUBMARINE POWER CABLES MARKET BY TYPE, Market Size in USD Million and Kilometers (2017—2024)
6.1 Introduction
6.2 High Voltage Alternating Current (HVAC)
6.3 High Voltage Direct Current (HVDC)
7 GLOBAL SUBMARINE POWER CABLES MARKET BY CORE, Market Size in USD Million and Kilometers (2017—2024)
7.1 Introduction
7.2 Single Core
7.3 Multi-Core
8 GLOBAL SUBMARINE POWER CABLES MARKET BY VOLTAGE, Market Size in USD Million and Kilometers (2017—2024)
8.1 Introduction
8.2 Medium Voltage (>66 KV)
8.3 High Voltage (66KV to 220KV)
8.4 Extra High Voltage (220KV to 400KV)
8.5 Ultra High Voltage(>400KV)
9 GLOBAL SUBMARINE POWER CABLES MARKET BY MATERIAL, Market Size in USD Million and Kilometers (2017—2024)
9.1 Introduction
9.2 Conductor
9.3 Insulator
10 GLOBAL SUBMARINE POWER CABLES MARKET BY END-USE INDUSTRY, Market Size in USD Million and Kilometers (2017—2024)
10.1 Introduction
10.2 Offshore Renewable Power Generation
10.3 Island and Intercountry Connections
10.4 Offshore Oil and Gas
11 GLOBAL SUBMARINE POWER CABLES MARKET BY REGION, Market Size in USD Million and Kilometers (2017—2024)
11.1 North America
11.1.1 US
11.1.2 Canada
11.1.3 Mexico
11.2 Europe
11.2.1 Germany
11.2.2 Norway
11.2.3 Sweden
11.2.4 UK
11.2.5 Denmark
11.2.6 Spain
11.2.7 Rest of Europe
11.3 Asia-Pacific
11.3.1 China
11.3.2 Japan
11.3.3 India
11.3.4 South Korea
11.3.5 Australia
11.3.6 Rest of Asia-Pacific
11.4 Middle East
11.4.1 Saudi Arabia
11.4.2 UAE
11.4.3 Rest of Middle East
11.5 South America
11.5.1 Brazil
11.5.2 Argentina
11.5.3 Rest of South America
12 COMPETITIVE LANDSCAPE
12.1 Introduction
12.2 Market Ranking/Share Analysis of Key Companies
12.3 Company Benchmarking
13 COMPANY PROFILES
13.1 Nexans SA
13.1.1 Company Overview
13.1.2 Financial Overview
13.1.3 Products/Solutions/Services Offered
13.1.4 Key Developments
13.1.5 SWOT Analysis
13.2 The Prysmian Group
13.3 NKT A/S
13.4 Furukawa Electric Co Ltd
13.5 Intertek Group plc
13.6 HENGTONG GROUP CO. LTD
13.7 Sumitomo Electric Industries, Ltd
13.8 Hydro Group Plc.
13.9 ZTT
13.10 TFKable
13.11 Other Key Companies
14 APPENDIX
14.1 Key Industry Expert Insights
14.2 Primary Discussion Guide
14.3 Customization Options
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain