Submarine Power Cables Market by Type (HVAC, HVDC), by Material (Conductor, Insulation), by Voltage (Medium, High) by End-Use Industry (Offshore Renewable Power Generation, Island and Inter country Connection) And by Region (APAC, North America, Europe, Middle East & Africa) – Global Forecast From 2019 To 2024

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Submarine Power Cables Market: Summary

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.Submarine Power Cables Market


Submarine Power Cables Market: Segmentation

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

Submarine Power Cables Market: Report Scope

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


Historical/Estimated/Forecasted Market Size Years


Base Year for Market Calculation


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

Companies Covered

  • Nexans SA (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
  • The Prysmian Group
  • Furukawa Electric Co Ltd
  • Intertek Group plc
  • Sumitomo Electric Industries, Ltd
  • Hydro Group Plc
  • NKT A/S
  • ZTT
  • TFKable
  • Other Key Companies

Submarine Power Cables Market: Report Segmentation

For the scope of report, In-depth segmentation is offered by Forencis Research

Submarine Power Cables Market by Type

  • High voltage alternating current (HVAC)
  • High voltage direct current (HVDC)

Submarine Power Cables Market, by Material

  • Conductor
  • Insulator

Submarine Power Cables Market, by Voltage

  • Medium (> 66 kV)
  • High (66 kV to 220 kV)
  • Extra high (> 220 kV to 400 kV)
  • Ultra-high (> 400 kV)

Submarine Power Cables Market, by Core (Qualitative Chapter)

  • Single Core
  • Multi-Core

Submarine Power Cables Market by, End-Use Industry

  • Offshore renewable power generation
  • Island and Intercountry Connections
  • Offshore Oil and Gas

Submarine Power Cables Market by Region

  • Asia-Pacific
    • China
    • Japan
    • South Korea
    • India
    • Australia
    • Rest of Asia-Pacific
  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • Norway
    • Sweden
    • Denmark
    • UK
    • Spain
    • Rest of Europe
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Rest of Middle East & Africa
  • South America
    • Brazil
    • Argentina
    • Rest of South America

Key Questions answered by the report

  • What are the major developments impacting the global market and its growth?
  • What will be the effects of the developments in the global market on the industry and on the market players in the near and far future?
  • What are the evolving types of the global market?
  • What are the evolving applications of global market?
  • What are the major characteristics that will affect the global market growth during the study period?
  • Who are the key players operating in the global market?
  • How are the major players leveraging in the existing market conditions?

Report Audience

  • Submarine Power Cables Market Providers
  • Submarine Power Cables Market Solution and Services Suppliers, Distributors and Dealers
  • End-Users of Varied Segments of Submarine Power Cables Market
  • Government Bodies and Intellectual Institutions
  • Associations and Industrial Organizations
  • Research & Consulting Service Providers
  • Research & Development Organizations
  • Investment Banks & Private Equity Firms



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


2.1       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



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


5.1       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


12.1     Introduction

12.2     Market Ranking/Share Analysis of Key Companies

12.3     Company Benchmarking


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


13.7     Sumitomo Electric Industries, Ltd

13.8     Hydro Group Plc.

13.9     ZTT

13.10  TFKable

13.11  Other Key Companies


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




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Research Design

Forencis Research follows robust and deep dive research methodologies to deliver accurate – current, estimated and forecasted market data. Our extensive primary and secondary research help in deriving reliable qualitative and quantitative data to provide verified market insights. Our research team tracks historic trends, existing and recent market dynamics, growth prospects, competitor landscape, and the entire value chain dynamics to attain reliable industry facts to reach accurate market estimates. Primary research is conducted through thorough interviews and detailed surveys with the Key Industry Experts and related participants across the value chain. Secondary research entails acquiring data through paid and reliable databases such as annual reports, SEC filings, research publications, association publications, investor presentations, white papers and other sources. All the above-obtained information is further processed and collated with our existing database prior to its presentation in our publications.

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Key Questions Answered by the Report

  • Major factors impacting the market and its growth
  • Evolving Types of the various products in the Market
  • Evolving Application of the various products in the Market
  • Growing countries in the Global Market
  • Effects of the developments in the market on the industry and on the market players
  • Key market developments undertaken by the leading players

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