COVID19:Global Submarine Power Cables Market is estimated to reach USD 19.57 Billion in 2024
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 preferred 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.
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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 conductorand 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 coreand multi-core.
- By end use industry, the global market is segmented into offshore renewable power generation, island and intercountry connections, and oil and gas.
- Nexans SA (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- The Prysmian Group
- Furukawa Electric Co Ltd
- Intertek Group plc
- HENGTONG GROUP PVT LTD
- Sumitomo Electric Industries, Ltd
- Hydro Group Plc
- NKT A/S
- Other Key Companies
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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
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
Submarine Power Cables Market by, End-Use Industry
- Offshore renewable power generation
- Island and Intercountry Connections
- Offshore Oil and Gas
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Submarine Power Cables Market by Region
- South Korea
- Rest of Asia-Pacific
- Rest of Europe
Middle East and Africa
- Saudi Arabia
Rest of Middle East & Africa
- South America
- Rest of South America
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