Global Submarine Power Cable Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2026
MarketResearch.biz delivers in-depth insights on the global submarine power cable market in its upcoming report titled, “Global Submarine Power Cable Market Trends, Applications, Analysis, Growth, and Forecast: 2017 to 2026”. The global submarine power cable market is estimated to register a CAGR of X.X% in terms of value during forecast period 2017–2026. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2026. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global submarine power cable market report has been segmented on the basis of type, voltage, end user, conductor material, and region.
This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.
Submarine power cables are basically power generation cables used to transfer electricity below the surface of water. These cables are termed as submarine cables as they are mostly laid onto floor of ocean beds. Submarine power cables are used to transmit electricity to offshore installations such as oil & gas platforms, offshore laboratories, or offshore power generation units.
Rising demand for power generation facilities from renewable sources and increasing number of wind farms across developed and developing economies are major factors driving growth of the global submarine power cable market currently.
However, high costs associated with deployment of submarine power cables above ocean beds is a major factor restraining growth of the global submarine power cable market. Additionally, complexities and problems associated with use are other major factors expected to hamper growth of the global submarine power cable market over the forecast period.
A major and rising trend in the global market is extensive use of submarine power cables for offshore wind farms. This is another factor projected to fuel growth of the global submarine power cable market over the forecast period to a significant extent.
Currently, the market in Europe accounts for highest share in the global submarine power cable market in revenue terms, owing to booming wind power generation industry in the region. The market in Asia Pacific accounted for second-highest revenue share in the global submarine power cable market, due to increasing number of wind power generation facilities, followed by markets in North America, Middle East & Africa, and Latin America respectively. The market in Asia Pacific is projected to witness fastest growth in terms of revenue, owing to increasing government initiatives for improvement of power generation and transportation facilities in the region. Moreover, the markets in Latin America and Middle East & Africa are expected to witness moderate growth over the forecast period. Also, revenue from the market in Middle East & Africa is projected to register a CAGR of X.X% over the forecast period.
Global submarine power cable market segmentation:
- Single core
- Medium voltage
- High voltage
By end user:
- Offshore wind power generation
- Inter-country and island connection
- Offshore oil & gas
By conductor material:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Hentong Marine Cable Systems
- AEI Cables
- General Cables
- JDR Cables
- KEI Industries
- The Prysmian Group
- Jiangsu Zhongtian Technology Co., Ltd.
- ABB Group
- Nexans S.A.
- TE Subcom
- Sumitomo Corporation
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