Reliable Data You Can Trust
Reliable Data You Can Trust
A recent report published by
Infinium Global Research on the submarine power cable market provides in-depth
analysis of segments and sub-segments in the global as well as regional
submarine power cable market. The study also highlights the impact of drivers,
restraints, and macro indicators on the global and regional submarine power
cable market over the short term as well as long term. The report is a
comprehensive presentation of trends, forecasts, and dollar values of the
global submarine power cable market. According to the report, the global
submarine power cable market was worth USD 9 billion in 2020 and is expected to
reach USD 20 Billion by 2026, growing with a CAGR of 14.2% over the forecast
period of 2020-2026.
Submarine power cable is a kind of
transmission cable and it is widely utilized for carrying electric power under
the surface of the water. It is called submarine cable since generally carries
electric power under the saltwater such as arms of the seas, oceans, and
straits. Furthermore, the importance of submarine power cable has steadily
augmented in recent decades. The introduction of offshore renewable energy has
caused an upsurge in demand for submarine power cable as it needs export cables
from wind, wave, and tidal installation to bring renewable energy ashore.
Moreover, submarine power cables are available in a wide range of sizes from
70mm to, exceeding, 210mm in diameter and in two flavors comprising AC or High
Voltage AC and High Voltage DC.
On-going expansion of offshore oil
& gas platforms coupled with the rising deployment of offshore wind farms
will propel the global submarine power cable market growth. Rapid investments
from government & private players favoured by strict regulatory initiatives
to integrate an energy-efficient operational environment will increase the
industry growth during the forecast period. Furthermore, increasing
inter-country transmission networks for underwater power supply has integrated
an encouraging business scenario. Moreover, increasing peak load demand has
been imposing concerns related to grid stability & security of supply
across the world. Also, rising fund flow to develop a supportable electrical
infrastructure in line with positive regulatory reforms toward the grid
integration of renewable systems will accompaniment the submarine power cable
market. On the other hand, a requirement for a high frequency of maintenance
and repair work for submarine power cable is anticipated to hinder the growth
of the submarine power cable market.
Among the geographies, the Europe
region is expected to hold the largest share in the global submarine power
cable market. Further, the industry is driven by on-going developments toward
an effective transmission network coupled with soaring energy demand from
developing countries. Moreover, strict norms pertaining to efficient power
transmission along with increasing cross-border electricity trade will further
boost the industry dynamics. However, the Asia Pacific region is expected to
hold a significant share in the global submarine power cable market. The
Chinese government is aggressively promoting the development of renewable
infrastructure, in order to control pollution, as well as to reduce the share
of thermal power in the country’s power generation profile.
The report on global submarine
power cable market covers segments such as type, voltage, conductor material,
and end-user. On the basis of type, the sub-markets include single core, and
multicore. On the basis of voltage, the sub-markets include medium voltage, and
high voltage. On the basis of conductor material, the sub-markets include
copper, and aluminum. On the basis of end-user, the sub-markets include
offshore wind power generation, inter-country and island connection, and
offshore oil & gas.
The report provides profiles of
the companies in the market such as Prysmian, Nexans, NKT, General Cable,
Furukawa Electric, Sumitomo Electric, KEI Industries, LS Cable & System,
ZTT, and TFKable Group.
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of the submarine power cable market. Moreover, the study highlights
current market trends and provides forecast from 2020-2026. We also have
highlighted future trends in the market that will affect the demand during the
forecast period. Moreover, the competitive analysis given in each regional market
brings an insight into the market share of the leading players.
Please Choose One of them.