Submarine Power Cable Market Size By Core (Single, Multi Core), By Voltage (Medium {> 66 kV}, High {66 kV to 220 kV}, Extra High {> 220 kV to 400 kV}, Ultra High {> 400 kV}), By Conductor (Copper, Aluminum), By End User (Offshore Windfarm, Offshore Oil & Gas Production), Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Germany, Italy, France, UK, Spain, Greece, Norway, Denmark, Ireland, Belgium, China, India, Australia, Japan, Vietnam, Malaysia, Philippines, Taiwan, Qatar, UAE, Bahrain, Libya, Cyprus, Tunisia, Brazil, Chile, Argentina), Price Trends, Competitive Market Share & Forecast, 2019 – 2025

Published Date: Jul 2019 | Report ID: GMI3396 | Authors: Ankit Gupta, Abhigyan Tathagat Report Format: PDF

  Request Sample
Summary Table of Contents Industry Coverage Methodology

Industry Trends

Submarine Power Cable Market size valued at USD 1.5 billion in 2018 and is anticipated to witness an annual deployment of over 2,500 km by 2025.
 

Submarine Power Cable Market Size, By Voltage, 2019 & 2025 (USD Million)
Submarine Power Cable Market Size, By Voltage, 2019 & 2025 (USD Million)

Get more details on this report - Request Free Sample PDF
 

Ongoing expansion of offshore oil & gas platforms along with rising deployment of offshore wind farms will drive the global submarine power cable market growth. Rapid investments from government & private players favoured by stringent regulatory initiatives to integrate an energy efficient operational environment will augment the industry growth. In addition, increasing intercountry transmission network for underwater power supply has integrated a favourable business scenario.
 

Growing peak load demand has been imposing concerns associated with grid stability & security of supply across the globe. Increasing fund flow to develop a sustainable electrical infrastructure in line with positive regulatory reforms toward the grid integration of renewable systems will complement the submarine power cable market. In 2018, EU Commission has proposed to invest over USD 1 billion across the clean energy network including the financing of three submarine power lines for cross-border interconnection.
 

Submarine Power Cable Market, By Core

Long route power transfer, minimal transmission losses along with high voltage (HV) power supply are the key factors favouring the deployment of single core subsea power cable market. Although, high initial cost of installation and poor heat dissipation may hinder the product penetration. However, flexible product specifications, overall operational cost along with ability to endure extreme weather conditions have integrated a favourable business scenario.
 

Ongoing deployment of offshore wind farms has escalated the demand for multi-core power lines. Moreover, ease of installation on account of effective product specification and short distance power transmission with minimal losses will augment the industry dynamics. Adoption of advance cable laying procedures & technologies and specific regulations for wire burial have further energized the submarine power cable market size.
 

Submarine Power Cable Market, By Voltage

Low installation cost along with its large-scale deployment across offshore wind farm establishments have positively swayed the demand for medium voltage cables. Although, they incur high transmission losses and maintenance cost in comparison to HV lines. However, growing dependence on renewable power generation technologies coupled with government reforms & initiatives to create an energy efficient environment will stimulate the overall submarine power cable market.
 

Extra high voltage lines in the recent years have gained significant upsurge owing to the rapid expansion of ultra-high-tension (UHT) transmission lines to endure losses accrued from the long-distance electrical supply. Less utilization of conductor materials, effective long-route transmission of electricity and no sagging losses are the few essential parameters which will fuel the submarine power cable market growth.
 

Submarine Power Cable Market, By Conductor

High electrical conductivity and ductility along with non-magnetic properties are some of the key factors positively influencing the product penetration. Copper wires will witness an upsurge on account of properties including ability to bear heavy load surges, corrosion resistant, strength and weight. Moreover, ongoing integration of safe & reliable power transmission systems along with energy efficient equipment will energize the global submarine power cable market.
 

Europe Submarine Power Cable Market Size, By Conductor, 2014 - 2025 (USD Million)

Europe Submarine Power Cable Market Size, By Conductor, 2014 - 2025 (USD Million)
Get more details on this report - Request Free Sample PDF
 

Lower material cost, ease of installation along with versatile product configuration when compared to copper wires are few indispensable parameters favouring the deployment of aluminum wires. Moreover, low maintenance cost, longer life span coupled with minimal transmission losses are the factors driving the product penetration. Growing dependence on renewable power generation technologies coupled with industrial integration towards economical and efficient cable technology will stimulate the overall business potential.
 

Submarine Power Cable Market, By End User

Rapid increase in island interconnections and deployment of offshore wind farms will positively influence the global submarine power cable market. Although, high cost of installation, complex authorization and stringent norms pertaining to the marine conservation may hinder the product growth. However, safe & reliable offshore power transmission and lesser line losses will further sway the technological adoption.
 

Subsea power cable market is positively influenced by various regulatory reforms including leveraging schemes, incentives and subsidies coupled with increasing government investments to integrate an energy efficient environment. As per IEA, increasing offshore oil & gas production will enhance investment in offshore wind farms propelling the business scenario. Furthermore, growing inclination towards the renewable power generation in line with rising deployment of offshore wind farms across the globe will strengthen the business potential.
 

Submarine Power Cable Market, By Region

Submarine power cable market across Europe was valued over USD 2.5 billion in 2018. The industry is driven by ongoing advancements toward an effective transmission network along with soaring energy demand from developing countries. As per IEA, in 2018, the global electricity demand increased by 4% which in turn lay a favourable business foundation. Stringent norms pertaining to efficient power transmission coupled with increasing cross-border electricity trade will further thrust the industry dynamics.
 

Competitive Market Share

Major participants across the submarine power cable market include Prysmian, ZTT, Furukawa Electric, Nexans, KEI Industries, NKT, TF Kable, LS Cable & Systems, ABB, Kelani cables, Hengtong Marine Cable Systems, Intertek Group, Sumitomo Electric and Ningbo Orient wires & cables.
 

Effective strategic alliances along with facility expansion to achieve low financial cost have been the prime strategic implications by the leading industry participants across the industry.
 

Submarine Power Cable Industry Background
 

Submarine Power Cable Market Segmentation
Get more details on this report - Request Free Sample PDF
 

A submarine power cable is an electricity transmission line used to carry power below the water surface. These are usually laid under saltwater but sometimes it’s is laid under fresh water. They serve as island interconnectors, and transfer electricity generated from offshore wind farms.

 


What Information does this report contain?

Historical data coverage: 2014 to 2018; Growth Projections: 2019 to 2025.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.


Premium Report: Details

Pages: 390
Tables: 719
Charts / Figures: 26
Companies covered: 14
Countries covered: 30

Special Requests?

Inquire Before Buying
This site is protected by Trustwave's Trusted Commerce program Authorize.Net Merchant - Click to Verify BBB Rating - Click to Verify

15% Free Customization
Share your Requirements

Customize this Report

Questions? Speak to an Analyst

Full Name *
Email *
Phone (With Country Code)
Message *
Are you human?
7 + 8 =

Your personal details are secure. Privacy Policy

Connect with our sales team

Chat With Us
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies. More info. I Agree