Submarine Power Cable Market accounted for $6.31 billion in 2017 is expected to reach US$ 25.56 Bn by 2026 at a CAGR of 16.8 % during the forecast period. 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.
Submarine Power Cable Market is to transport electric current at high voltage using high voltage alternating current (HVAC) cable. The electric core is a concentric assembly of inner conductor, electric insulation and protective layers. The conductor is made from copper or aluminium wires, the latter material having a small but increasing market share.The cable are been classified into paper insulated, fluid filled and extruded plastic insulation (XLPE or EPR). The size or diameter of the cable depends upon its current carrying capacity and amount of insulating layers. The range varies from 50 mm to 1500 mm, depends upon the end-use or application.
The growth of the submarine power cable power to offshore oil & gas platforms and offshore ocean laboratories have made more open opportunity.While Europe leads in growing demand for inter-country and island connections.
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The global submarine power cable market by offshore wind accounted for around 47% of the total market share in 2016. Offshore wind turbines produce more energy using fewer turbines when compared with conventional turbines. More than 80% of the world’s offshore wind power generation capacity is installed in Europe.Most countries are shifting toward harnessing wind energy & wave energy of sea or ocean due to the increase in demand for renewable energy. Recent usage of tidal turbine to harness wave energy is also being practicing in developed nations such as U.S., Germany, France, and Denmark.Such projects required inter-relation of Submarine Power Cable Market which further also provides growth opportunity for
Regions like Europe and North America are the dominating market for factors driving the growth of this region are offshore wind industry, power plants, renewable energy. Demand from offshore oil & gas operations and also rising demand for inter-country connections along with growth oil & gas industries.
In recent EBRD funded in Turkey for investment in high-tech undersea cable system, In Asia – Indian company RCom that owns undersea cables is looking at revenue of $1 billion a year from 2025, Prysmian world major player in Submarine Power Cable awarded $140M project in china.
Key players profiled and Analysed in the Report:
Prysmian, Nexan, NKT Group, General Cable, Furukawa Electric, Sumitomo Electric Industries, Hengtong Marine Cable System, KEI Industries, LS Cable & System, Southwire, ZTT, Belden, Hangzhou Cable, TE Subcom, Sumitomo, ABB, NXT, JDR Cables, AEI Cables.
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Scope of the Submarine power cables Market report:
• By Type
o Single core
o Multicore
• By Voltage
o Medium voltage
o High voltage
• By End-User
o Offshore wind power generation
o Inter-country and island connection
o Offshore oil & gas
• By Conductor Material
o Copper
o Aluminum
• By Region
o Asia Pacific
o North America
o Europe
o South America
o Middle East & Africa
Browse Full Report with Facts and Figures of Submarine Power Cable Market Report at: https://www.maximizemarketresearch.com/market-report/submarine-power-cable-market/13497/
MAJOR TOC OF THE REPORT
Chapter One: Submarine Power Cable Market Overview
Chapter Two: Manufacturers Profiles
Chapter Three: Global Submarine Power Cable Market Competition, by Players
Chapter Four: Global Submarine Power Cable Market Size by Regions
Chapter Five: North America Submarine Power Cable Revenue by Countries
Chapter Six: Europe Submarine Power Cable Revenue by Countries
Chapter Seven: Asia-Pacific Submarine Power Cable Revenue by Countries
Chapter Eight: South America Submarine Power Cable Revenue by Countries
Chapter Nine: Middle East and Africa Revenue Submarine Power Cable by Countries
Chapter Ten: Global Submarine Power Cable Market Segment by Type
Chapter Eleven: Global Submarine Power Cable Market Segment by Application
Chapter Twelve: Global Submarine Power Cable Market Size Forecast (2019-2026)
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