Submarine power cables are used to transmit electricity below the ocean, that is, deep under the sea bed. These cables are used to transfer electricity from offshore wind turbines, tidal power projects, and onshore locations to oil rigs as well as to transmit electricity across countries or islands. Countries such as the UK and Germany that generate huge amounts of renewable energy through wind turbines use submarine power cables to export it to neighboring countries having less energy generation capacity.
The overall market is set to witness significant growth because of the increasing offshore wind installations, growing demand for inter-country and island connection, and demand from offshore oil & gas sector. Increasing demand for HVDC connections is one of the major opportunities for the Submarine Power Cable Market.
The offshore wind power generation segment is expected to hold the largest share of the Submarine Power Cable Market during the forecast period. Growing investment in the renewable sector and technology advancements along with government initiatives are the major factors driving the Submarine Power Cable Market in Europe. New offshore wind generation capacity is under development in countries in Asia Pacific, especially China. These factors have resulted in the highest market share of the offshore wind power generation segment in the Submarine Power Cable Market.
In 2019, the market size of Submarine Power Cable is 5500 million US$ and it will reach 15700 million US$ in 2025, growing at a CAGR of 14.0% from 2019; while in China, the market size is valued at xx million US$ and will increase to xx million US$ in 2025, with a CAGR of xx% during forecast period.
In this report, 2018 has been considered as the base year and 2019 to 2025 as the forecast period to estimate the market size for Submarine Power Cable.
This report studies the global market size of Submarine Power Cable, especially focuses on the key regions like United States, European Union, China, and other regions (Japan, Korea, India and Southeast Asia).
This study presents the Submarine Power Cable production, revenue, market share and growth rate for each key company, and also covers the breakdown data (production, consumption, revenue and market share) by regions, type and applications. history breakdown data from 2014 to 2019, and forecast to 2025.
For top companies in United States, European Union and China, this report investigates and analyzes the production, value, price, market share and growth rate for the top manufacturers, key data from 2014 to 2019.
In global market, the following companies are covered:
Market Segment by Product Type
Single Core Cable
Multi Core Cable
Market Segment by Application
Offshore Wind Power Generation
Inter-country and Island Connection
Offshore Oil Rigs
Key Regions split in this report: breakdown data for each region.
Rest of World (Japan, Korea, India and Southeast Asia)
The study objectives are:
To analyze and research the Submarine Power Cable status and future forecast in United States, European Union and China, involving sales, value (revenue), growth rate (CAGR), market share, historical and forecast.
To present the key Submarine Power Cable manufacturers, presenting the sales, revenue, market share, and recent development for key players.
To split the breakdown data by regions, type, companies and applications
To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
To identify significant trends, drivers, influence factors in global and regions
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
In this study, the years considered to estimate the market size of Submarine Power Cable are as follows:
History Year: 2014-2018
Base Year: 2018
Estimated Year: 2019
Forecast Year 2019 to 2025