Submarine Power Cable Market

Submarine Power Cable Market by Core Type (Single-core, Multi-core), Voltage (Medium, High), Conductor Material (Copper, Aluminium), End Use (Offshore Wind, Inter-Country & Island Connection, Offshore Oil & Gas), Type and Region - Global Forecast to 2028

Report Code: EP 6360 Sep, 2023, by marketsandmarkets.com

[207 Pages Report] The submarine power cable market is expected to grow from an estimated USD 12.9 billion in 2023 to USD 22.3 billion by 2028, at a CAGR of 11.5% during the forecast period. The submarine power cable market is propelled by factors like the expansion of offshore wind energy capacity and the rising need for cross-border and island connections. Additionally, the growing demand from the offshore oil and gas sector is anticipated to drive demand for submarine power cables. Furthermore, the increasing interest in high-voltage direct current (HVDC) connections represents a promising opportunity for the submarine power cable market, given the substantial investments being allocated to this segment.

Submarine Power Cable Market

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Submarine Power Cable Market

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Submarine Power Cable Market Dynamics

Driver: Growth of Offshore Wind Farms

The growth of Wind Power Generation in offshore locations is fueled by the abundant wind resources near coastlines, proximity to urban centers, reduced environmental impact, and government support for renewable energy. Submarine power cables are vital for connecting offshore wind farms to the grid, facilitating this growth and promoting clean energy adoption.

The global energy transition is fueling a surge in demand for submarine power cables, notably in the offshore wind sector. Offshore wind projects are expanding into more remote and deeper waters, often employing innovative floating wind technology in previously untapped regions. These developments necessitate longer and more robust submarine cables to transmit generated electricity ashore. Deep-sea wind turbines, boasting increased height and exposure to consistent, high-velocity winds, offer enhanced power generation potential. However, this also requires larger and more efficient submarine cables. This burgeoning demand presents a substantial business opportunity for companies engaged in cable manufacturing, installation, and maintenance, with the industry striving to push the boundaries of cable length and capacity to meet the offshore wind sector's growing needs.

Restraints: High Cost of Installation and Repair of Submarine Cables

The deployment and maintenance of submarine cables can present notable financial hurdles for power transmission ventures. These expenses stem from the intricate installation procedures, specialized equipment prerequisites, and the demand for expert workforce. Moreover, the distinctive attributes and operational circumstances of submarine settings amplify the associated expenditures.

Also, submarine power cable projects often cross international borders and involve multiple jurisdictions, each with its own set of regulations. This can make it difficult to get all of the necessary permits and approvals and can lead to delays in the start of construction and the completion of the project. In addition, submarine power cable projects are often complex and involve a number of different stakeholders, including government agencies, environmental groups, and local communities. This can make it difficult to reach a consensus on the project and to address all of the concerns of the stakeholders. This can also lead to delays in the project.

Opportunity: Increasing Adoption of HVDC Submarine Power Cables

The growing integration of intermittent renewable sources of energy increases the need for transmitting electric energy over long distances, encompassing wide and deep-water bodies using submarine power cables. With the increasing installation of submarine power cable projects, there has arisen a need for efficient power transmission enabling reduced dissipative losses. This is achieved with the application of HVDC submarine power cables, which offer several advantages over conventional High Voltage Direct Current (HVAC). HVDC cables require less material and space than HVAC cables. HVDC cables only need one power line to transmit electricity, while HVAC cables need three. HVDC cables also have a shorter length limit than HVAC cables due to the capacitance between the active conductors and the surrounding earth or water. This means that HVDC cables can be used to transmit electricity over longer distances without losing power.

Challenges: Environmental Compliance Challenges in Submarine Power Cable Installations

Submarine power cables face several challenges. Installation costs are substantial due to their complexity, specialized equipment, and skilled labor requirements. Maintenance and repair in underwater environments are costly and technologically demanding. They are vulnerable to natural disasters, such as storms and earthquakes, which can lead to service interruptions and expensive repairs. Marine life, including fishing activities and accidental anchoring, poses risks. Submarine cables also need to comply with environmental regulations to minimize ecological impacts. The growing demand for longer and higher-capacity cables for offshore wind and energy interconnections necessitates ongoing innovation to address these challenges and ensure the reliability and sustainability of underwater power transmission.

Submarine Power Cable Market Ecosystem

Notable players in this industry comprise long-standing, financially robust manufacturers of the Submarine power cable Market. These companies have a significant track record in the market, offering a wide range of products, employing cutting-edge technologies, and maintaining robust global sales and marketing networks. Prominent companies in this market include Prysmian (Itlay), Sumitomo Electric Industries Ltd. (Japan), LS cable & system LTD. (Korea), NKT A/S (Denmark), and Nexans (France).

Submarine Power Cable Market

Single core is expected to be the largest market based on core type

Single-core submarine power cables are a type of specialized cable designed for transmitting electrical power underwater, typically between two points on land or between an offshore installation and the shore. These cables are essential for various applications, including offshore wind farms, interconnections between power grids in different countries, and power distribution to remote islands or offshore facilities.

DC, by type, to hold the fastest market share during the forecast period during the forecast period

The market has been segmented by type into AC and DC. HVDC submarine cables typically operate at high voltage levels, often ranging from hundreds of kilovolts (kV) to several megavolts (MV). Higher voltage levels reduce transmission losses over long distances. DC segment is expected to be the fastest segment in the market by type due to the reduced transmission losses when compared to AC submarine power cables. Moreover, the cost of the DC power cables are lesser when compared to AC power cables which is driving the market for the segment.

High voltage, by voltage, to hold the largest market share during the forecast period.

The market has been segmented by voltage into high and medium voltage. The high voltage segment is expected to be the largest segment in the market by voltage. High-voltage submarine cables typically operate at high voltage levels, often ranging from hundreds of kilovolts (kV) to several megavolts (MV). Higher voltage levels reduce transmission losses over long distances. The market growth for this segment is because of rising investments in grid interconnections and the offshore wind sector requiring longer and higher capacity cables are expected to drive the high-voltage segment during the forecast period.

Europe is expected to account for the largest market during the forecast period.

Europe is the largest market due to the high number of projects in terms of new offshore wind farm installation. As countries in Europe work towards achieving carbon neutrality and meeting their renewable energy targets, offshore power generation has emerged as a versatile and efficient solution to optimize energy generation. Furthermore, supportive policies and financial incentives from European governments have attracted investments in offshore projects. The European Union's focus on fostering green innovation and supporting sustainable energy initiatives has created a favorable environment for the growth of the submarine power cable market. Moreover, the versatility and adaptability of submarine cable have captured the interest of diverse sectors in Europe, including offshore wind power generation, Inter-country & Island Connection, and offshore oil and gas users. submarine power cables provide a scalable and flexible approach to cater to varying energy transmission needs, for offshore applications.

Submarine Power Cable Market Size, and Share

Key Market Players

The submarine power cable market is dominated by a few major players that have a wide regional presence. The major players in the submarine power cable market are Prysmian (Itlay), Sumitomo Electric Industries Ltd. (Japan), LS cable & system LTD. (Korea), NKT A/S (Denmark), and Nexans (France). Strategies such as product launches, contracts, agreements, partnerships, collaborations, alliances, acquisitions, and expansions are followed by these companies to capture a larger share of the submarine power cable market.

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Scope of the Report

Report Metric

Details

Market size available for years

2021–2028

Base year considered

2022

Forecast period

2024–2028

Forecast units

Value (USD)

Segments covered

Type, Core Type, Voltage, Conductor Material, End Use, and Region

Geographies covered

Asia Pacific, North America, Europe, Middle East & Africa, and South America

Companies covered

Sumitomo Electric Industries (Japan), Prysmian S.p.A (Italy), Nexans (France), NKT A/S (Denmark), LS Cable & System Ltd. (South Korea), Furukawa Electric  Co., Ltd. (Japan), ZTT  (China), KEI Industries Limited (India), Tele Fonika Kable SA (Poland), Taihan Cable & Solution Co., Ltd. (South Korea), Hengtong Group (China), Tratos (Italy), Hydro Group (UK), The Okonite Company (US), Hellinic Cables (Greece), Bhuwal Insulation Cable Pvt. Ltd. (India), Apar Industries (India), JDR Cable Systems Ltd. (UK), SSG Cable (China), 1X Technologies LLC (US)

This research report categorizes the Submarine Power Cable market by type, end user industry, module, and region

On the basis of type, the Submarine Power Cable market has been segmented as follows:
  • AC
  • DC
On the basis of end user, the Submarine Power Cable market has been segmented as follows:
  • Offshore Wind Power Generation
  • Inter-country and Island Connection
  • Offshore Oil & Gas
On the basis of by Core Type, the Submarine Power Cable market has been segmented as follows:
  • Single Core
  • Multicore
On the basis of by conductor material, the Submarine Power Cable market has been segmented as follows:
  • Copper
  • Aluminium
On the basis of by voltage, the Submarine Power Cable market has been segmented as follows:
  • Medium
  • High
On the basis of region, the Submarine Power Cable market has been segmented as follows:
  • Asia Pacific
  • Europe
  • North America
  • Middle East & Africa
  • South America

Recent Developments

  • In April 2023, Sumitomo Electric Industries, Ltd. announced plans to establish a new Power Cable factory (high voltage cable manufacturing plant) in the Scottish Highlands to support UK Government’s goal to achieve Net zero 2050.
  • In April 2023, Nexans successfully finalized the acquisition of Reka kaapeli oy, a leading Finnish manufacturer of high, medium, and low voltage cables, as part of its strategy to become a key player in electrification and contribute to carbon neutrality by 2030.
  • In April 2020, Prysmian Group successfully completed the brand integration process after acquiring General Cable. The company introduced a multi-brand strategy and updated its visual identity and logos.

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS
 
1 INTRODUCTION (Page No. - 27)
    1.1 STUDY OBJECTIVES 
    1.2 MARKET DEFINITION 
           1.2.1 INCLUSIONS AND EXCLUSIONS
                    1.2.1.1 Submarine power cable market, by core type
                    1.2.1.2 Submarine power cable market, by type
                    1.2.1.3 Submarine power cable market, by voltage
                    1.2.1.4 Submarine power cable market, by conductor material
                    1.2.1.5 Submarine power cable market, by end use
    1.3 STUDY SCOPE 
           1.3.1 MARKETS COVERED
           1.3.2 REGIONAL SCOPE
           1.3.3 YEARS CONSIDERED
    1.4 CURRENCY CONSIDERED 
    1.5 LIMITATIONS 
    1.6 STAKEHOLDERS 
    1.7 SUMMARY OF CHANGES 
    1.8 IMPACT OF RECESSION 
 
2 RESEARCH METHODOLOGY (Page No. - 33)
    2.1 RESEARCH APPROACH 
           FIGURE 1 SUBMARINE POWER CABLE MARKET: RESEARCH DESIGN
    2.2 MARKET BREAKDOWN AND DATA TRIANGULATION 
           FIGURE 2 DATA TRIANGULATION
           2.2.1 SECONDARY DATA
                    2.2.1.1 Key data from secondary sources
           2.2.2 PRIMARY DATA
                    2.2.2.1 Key data from primary sources
                    2.2.2.2 Breakdown of primaries
    2.3 SCOPE 
           FIGURE 3 MAIN METRICS CONSIDERED TO ANALYZE AND ASSESS DEMAND FOR SUBMARINE POWER CABLE
    2.4 MARKET SIZE ESTIMATION 
           2.4.1 BOTTOM-UP APPROACH
                    FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
           2.4.2 TOP-DOWN APPROACH
                    FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
           2.4.3 DEMAND-SIDE ANALYSIS
                    2.4.3.1 Regional analysis
                    2.4.3.2 Country-level analysis
                    2.4.3.3 Assumptions for demand-side analysis
                    2.4.3.4 Calculations for demand-side analysis
           2.4.4 SUPPLY-SIDE ANALYSIS
                    FIGURE 6 KEY STEPS CONSIDERED TO ASSESS SUPPLY OF SUBMARINE POWER CABLE
                    FIGURE 7 SUBMARINE POWER CABLE MARKET: SUPPLY-SIDE ANALYSIS
                    2.4.4.1 Calculations for supply-side analysis
                    2.4.4.2 Assumptions for supply-side analysis
                               FIGURE 8 COMPANY REVENUE ANALYSIS, 2022
           2.4.5 GROWTH FORECAST
    2.5 RESEARCH ASSUMPTIONS 
    2.6 RECESSION IMPACT 
 
3 EXECUTIVE SUMMARY (Page No. - 46)
    TABLE 1 SNAPSHOT OF SUBMARINE POWER CABLE MARKET 
    FIGURE 9 SINGLE-CORE SEGMENT TO HOLD LARGER MARKET SHARE DURING FORECAST PERIOD 
    FIGURE 10 DC SEGMENT TO DISPLAY HIGHER CAGR, BY TYPE, DURING FORECAST PERIOD 
    FIGURE 11 COPPER SEGMENT TO DOMINATE MARKET THROUGHOUT FORECAST PERIOD 
    FIGURE 12 HIGH VOLTAGE SEGMENT TO EXHIBIT GREATER CAGR DURING FORECAST PERIOD 
    FIGURE 13 OFFSHORE WIND POWER GENERATION SEGMENT TO LEAD MARKET DURING FORECAST PERIOD 
    FIGURE 14 EUROPE ACCOUNTED FOR LARGEST SHARE IN GLOBAL SUBMARINE POWER MARKET IN 2022 
 
4 PREMIUM INSIGHTS (Page No. - 51)
    4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN SUBMARINE POWER CABLE MARKET 
           FIGURE 15 GROWING ADOPTION OF OFFSHORE SOLUTIONS AND GOVERNMENT MANDATES TO FAVOR MARKET GROWTH
    4.2 ASIA PACIFIC: SUBMARINE POWER CABLE MARKET, BY END USE AND COUNTRY 
           FIGURE 16 INDUSTRIAL SEGMENT AND CHINA HELD LARGEST SHARES IN 2022
    4.3 SUBMARINE POWER CABLE MARKET, BY CORE TYPE 
           FIGURE 17 SINGLE CORE SEGMENT TO ACCOUNT FOR LARGER MARKET SHARE IN 2028
    4.4 SUBMARINE POWER CABLE MARKET, BY TYPE 
           FIGURE 18 DC SEGMENT TO DOMINATE MARKET IN 2028
    4.5 SUBMARINE POWER CABLE MARKET, BY CONDUCTOR MATERIAL 
           FIGURE 19 ALUMINUM SEGMENT TO CLAIM LARGER MARKET SHARE IN 2028
    4.6 SUBMARINE POWER CABLE MARKET, BY VOLTAGE 
           FIGURE 20 HIGH VOLTAGE SEGMENT TO DOMINATE MARKET IN 2028
    4.7 SUBMARINE POWER CABLE MARKET, BY END USE 
           FIGURE 21 OFFSHORE WIND POWER GENERATION SEGMENT TO CAPTURE LARGEST MARKET SHARE IN 2028
 
5 MARKET OVERVIEW (Page No. - 55)
    5.1 INTRODUCTION 
    5.2 MARKET DYNAMICS 
           FIGURE 22 SUBMARINE POWER CABLE MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
           5.2.1 DRIVERS
                    5.2.1.1 Growing installation of offshore wind turbines
                               FIGURE 23 GLOBAL OFFSHORE INSTALLATIONS, 2012–2021
                    5.2.1.2 Discoveries of reserves and growing offshore production in developing economies
                               TABLE 2 COUNTRY-WISE MAJOR OFFSHORE PROJECTS AND CONTRACTS
           5.2.2 RESTRAINTS
                    5.2.2.1 Complex regulatory and environmental authorization procedures
                    5.2.2.2 High cost of installation and repairing submarine cables
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Increasing adoption of HVDC submarine power cables
                               TABLE 3 REGION-WISE DATA FOR HVDC SUBMARINE CABLE PROJECTS, 2021–2024
           5.2.4 CHALLENGES
                    5.2.4.1 Requirement of technical expertise for developing and installing submarine power cables
                    5.2.4.2 Damage caused to cables by human interventions
                               FIGURE 24 FACTORS CAUSING SUBMARINE POWER CABLE FAULTS
                    5.2.4.3 Price variations of copper and aluminum
                               FIGURE 25 GLOBAL NOMINAL PRICES FOR ALUMINUM AND COPPER, 2020-2023
    5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES 
           FIGURE 26 REVENUE SHIFT AND NEW REVENUE POCKETS FOR PLAYERS IN SUBMARINE POWER CABLE MARKET
    5.4 TECHNOLOGY ANALYSIS 
           5.4.1 TECHNOLOGY TRENDS OF SUBMARINE POWER CABLES
    5.5 CASE STUDY ANALYSIS 
           5.5.1 AUSTRALIA–SINGAPORE INTERCONNECTOR PROJECT FOSTERS REGIONAL ENERGY COOPERATION BY INVESTING IN HVDC TECHNOLOGY
           5.5.2 TRATOS COLLABORATES WITH ENEL TO DEVELOP SPECIALIZED CABLES WITH ADVANCED INSULATION MATERIALS
    5.6 KEY CONFERENCES AND EVENTS, 2023–2024 
           TABLE 4 SUBMARINE POWER CABLE MARKET: LIST OF CONFERENCES AND EVENTS
    5.7 ECOSYSTEM ANALYSIS 
           TABLE 5 COMPANIES AND THEIR ROLE IN SUBMARINE POWER CABLE ECOSYSTEM
           FIGURE 27 SUBMARINE POWER CABLE MARKET: ECOSYSTEM ANALYSIS
    5.8 VALUE CHAIN ANALYSIS 
           FIGURE 28 SUBMARINE POWER CABLE MARKET: VALUE CHAIN ANALYSIS
    5.9 PRICING ANALYSIS 
           FIGURE 29 AVERAGE SELLING PRICE OF SUBMARINE POWER CABLE, BY TYPE
           TABLE 6 AVERAGE SELLING PRICE OF SUBMARINE POWER CABLE, BY TYPE
           TABLE 7 AVERAGE SELLING PRICE ANALYSIS OF SUBMARINE POWER CABLE, BY REGION
           FIGURE 30 AVERAGE SELLING PRICE OF SUBMARINE POWER CABLE, BY REGION, 2021–2028
    5.10 TARIFF AND REGULATORY LANDSCAPE 
           5.10.1 TARIFF RELATED TO SUBMARINE POWER CABLE UNITS
                    TABLE 8 AVERAGE TARIFF DATA OF SUBMARINE CABLES, BY COUNTRY
           5.10.2 REGULATORY LANDSCAPE
                    TABLE 9 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 10 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 11 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 12 GLOBAL: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
           5.10.3 STANDARDS
                    TABLE 13 NORTH AMERICA: STANDARDS/REGULATIONS RELATED TO SUBMARINE POWER CABLE MARKET
                    TABLE 14 SOUTH AMERICA: STANDARDS/REGULATIONS RELATED TO SUBMARINE POWER CABLE MARKET
                    TABLE 15 GLOBAL: STANDARDS/REGULATIONS RELATED TO SUBMARINE POWER CABLE MARKET
    5.11 PATENT ANALYSIS 
                    TABLE 16 SUBMARINE POWER CABLE MARKET: INNOVATIONS AND PATENT REGISTRATIONS, 2020–2023
    5.12 TRADE ANALYSIS 
                    FIGURE 31 IMPORT AND EXPORT SCENARIO FOR PRODUCTS UNDER HS CODE: 8544, 2018–2022
                    TABLE 17 TRADE DATA FOR PRODUCTS UNDER HS CODE: 8544, 2018–2022 (USD THOUSAND)
    5.13 PORTER’S FIVE FORCES ANALYSIS 
                    TABLE 18 SUBMARINE POWER CABLE MARKET: PORTER’S FIVE FORCES ANALYSIS
                    FIGURE 32 SUBMARINE POWER CABLE MARKET: PORTER’S FIVE FORCES ANALYSIS
           5.13.1 THREAT OF SUBSTITUTES
           5.13.2 BARGAINING POWER OF SUPPLIERS
           5.13.3 BARGAINING POWER OF BUYERS
           5.13.4 THREAT OF NEW ENTRANTS
           5.13.5 INTENSITY OF COMPETITIVE RIVALRY
    5.14 KEY STAKEHOLDERS AND BUYING CRITERIA 
           5.14.1 KEY STAKEHOLDERS IN BUYING PROCESS
                    FIGURE 33 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE END USES
                    TABLE 19 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE BY END USES
           5.14.2 BUYING CRITERIA
                    FIGURE 34 KEY BUYING CRITERIA FOR TOP THREE END USES
                    TABLE 20 KEY BUYING CRITERIA FOR TOP THREE END USES
 
6 SUBMARINE POWER CABLE MARKET, BY CORE TYPE (Page No. - 82)
    6.1 INTRODUCTION 
           FIGURE 35 SUBMARINE POWER CABLE MARKET, BY CORE TYPE, 2022
           TABLE 21 SUBMARINE POWER CABLE MARKET, BY CORE TYPE, 2021–2028 (USD MILLION)
    6.2 SINGLE-CORE 
           6.2.1 EASY INSTALLATION AND HANDLING TO DRIVE DEMAND
                    TABLE 22 SINGLE-CORE: SUBMARINE POWER CABLE MARKET, BY REGION, 2021–2028 (USD MILLION)
    6.3 MULTI-CORE 
           6.3.1 EASY TRANSMISSION OF HIGH LEVELS OF POWER TO BOOST MARKET GROWTH
                    TABLE 23 MULTI-CORE: SUBMARINE POWER CABLE MARKET, BY REGION, 2021–2028 (USD MILLION)
 
7 SUBMARINE POWER CABLE MARKET, BY TYPE (Page No. - 86)
    7.1 INTRODUCTION 
           FIGURE 36 SUBMARINE POWER CABLE MARKET, BY TYPE, 2022
           TABLE 24 SUBMARINE POWER CABLE MARKET, BY TYPE, 2021–2028 (USD MILLION)
    7.2 AC 
           7.2.1 COST-EFFECTIVENESS FOR SHORT DISTANCE AND EASY MAINTENANCE TO DRIVE MARKET GROWTH
                    TABLE 25 AC: SUBMARINE POWER CABLE MARKET, BY REGION, 2021–2028 (USD MILLION)
    7.3 DC 
           7.3.1 ABILITY TO FACILITATE SUBSEA POWER DISTRIBUTION FOR MARINE RESEARCH AND EXPLORATION TO SPUR DEMAND
                    TABLE 26 DC: SUBMARINE POWER CABLE MARKET, BY REGION, 2021–2028 (USD MILLION)
 
8 SUBMARINE POWER CABLE MARKET, BY VOLTAGE (Page No. - 89)
    8.1 INTRODUCTION 
           FIGURE 37 SUBMARINE POWER CABLE MARKET, BY VOLTAGE, 2022
           TABLE 27 SUBMARINE POWER CABLE MARKET, BY VOLTAGE, 2021–2028 (USD MILLION)
    8.2 MEDIUM-VOLTAGE 
           8.2.1 SUITABILITY FOR SHORT-DISTANCE POWER TRANSMISSION TO DRIVE MARKET
                    TABLE 28 MEDIUM-VOLTAGE: SUBMARINE POWER CABLE MARKET, BY REGION, 2021–2028 (USD MILLION)
    8.3 HIGH-VOLTAGE 
           8.3.1 RISING NUMBER OF OFFSHORE WIND POWER INSTALLATIONS TO FOSTER SEGMENTAL GROWTH
                    TABLE 29 HIGH-VOLTAGE: SUBMARINE POWER CABLE MARKET, BY REGION, 2021–2028 (USD MILLION)
 
9 SUBMARINE POWER CABLE MARKET, BY CONDUCTOR MATERIAL (Page No. - 93)
    9.1 INTRODUCTION 
           FIGURE 38 SUBMARINE POWER CABLE MARKET, BY CONDUCTOR MATERIAL, 2022
           TABLE 30 SUBMARINE POWER CABLE MARKET, BY CONDUCTOR MATERIAL, 2021–2028 (USD MILLION)
    9.2 COPPER 
           9.2.1 ROBUST TENSILE STRENGTH AND THERMAL CONDUCTIVITY TO FOSTER SEGMENTAL GROWTH
                    TABLE 31 CHARACTERISTICS OF COPPER AND ALUMINUM
                    TABLE 32 COPPER: SUBMARINE POWER CABLE MARKET, BY REGION, 2021–2028 (USD MILLION)
    9.3 ALUMINUM 
           9.3.1 SAFE HANDLING FOR LONG CABLE LENGTHS TO DRIVE DEMAND
                    TABLE 33 ALUMINUM: SUBMARINE POWER CABLE MARKET, BY REGION, 2021–2028 (USD MILLION)
 
10 SUBMARINE POWER CABLE MARKET, BY END USE (Page No. - 97)
     10.1 INTRODUCTION 
               FIGURE 39 SUBMARINE POWER CABLE MARKET, BY END USE, 2022
               TABLE 34 SUBMARINE POWER CABLE MARKET, BY END USE, 2021–2028 (USD MILLION)
     10.2 OFFSHORE WIND POWER GENERATION 
             10.2.1 DEPLOYMENT OF HVDC CABLING TO TRANSMIT POWER ACROSS REMOTE OFFSHORE INSTALLATIONS TO BOOST SEGMENTAL GROWTH
                       TABLE 35 COUNTRY-WISE DATA ON OFFSHORE WIND PROJECTS, 2022–2027
                       TABLE 36 OFFSHORE WIND POWER GENERATION: SUBMARINE POWER CABLE MARKET, BY REGION, 2021–2028 (USD MILLION)
     10.3 INTER-COUNTRY & ISLAND CONNECTION 
             10.3.1 PROMOTION OF UNIFIED ELECTRICITY MARKET TO DRIVE MARKET
                       TABLE 37 REGION-WISE DATA ON SUBMARINE INTERCONNECTION PROJECTS, 2021–2027
                       TABLE 38 INTER-COUNTRY & ISLAND CONNECTION: SUBMARINE POWER CABLE MARKET, BY REGION, 2021–2028 (USD MILLION)
     10.4 OFFSHORE OIL & GAS 
             10.4.1 INCREASING SUBSEA OPERATIONS AND DEEPWATER DRILLING TO FUEL MARKET GROWTH
                       TABLE 39 OFFSHORE OIL & GAS: SUBMARINE POWER CABLE MARKET, BY REGION, 2021–2028 (USD MILLION)
 
11 SUBMARINE POWER CABLE MARKET, BY REGION (Page No. - 103)
     11.1 INTRODUCTION 
               FIGURE 40 NORTH AMERICA TO DISPLAY HIGHEST CAGR DURING FORECAST PERIOD
               FIGURE 41 EUROPE DOMINATED GLOBAL SUBMARINE POWER CABLE MARKET IN 2022
               TABLE 40 SUBMARINE POWER CABLE MARKET, BY REGION, 2021–2028 (USD MILLION)
               TABLE 41 SUBMARINE POWER CABLE MARKET, BY REGION, 2021–2028 (KILOMETERS)
     11.2 EUROPE 
               TABLE 42 EUROPE OFFSHORE WIND SITES WITH GRID-CONNECTED TURBINES, 2022
               FIGURE 42 EUROPE: SUBMARINE POWER CABLE MARKET SNAPSHOT
             11.2.1 RECESSION IMPACT: EUROPE
                       TABLE 43 EUROPE: SUBMARINE POWER CABLE MARKET, BY TYPE, 2021–2028 (USD MILLION)
                       TABLE 44 EUROPE: SUBMARINE POWER CABLE MARKET, BY CORE TYPE, 2021–2028 (USD MILLION)
                       TABLE 45 EUROPE: SUBMARINE POWER CABLE MARKET, BY VOLTAGE, 2021–2028 (USD MILLION)
                       TABLE 46 EUROPE: SUBMARINE POWER CABLE MARKET, BY CONDUCTOR MATERIAL, 2021–2028 (USD MILLION)
                       TABLE 47 EUROPE: SUBMARINE POWER CABLE MARKET, BY COUNTRY, 2021–2028 (USD MILLION)
             11.2.2 UK
                       11.2.2.1 Strong focus to achieve ‘Net Zero Target’ to fuel market
                                   TABLE 48 UK: SUBMARINE POWER CABLE MARKET, BY END USE, 2021–2028 (USD MILLION)
             11.2.3 GERMANY
                       11.2.3.1 Legislations favoring development of renewable energy sector to fuel market growth
                                   TABLE 49 GERMANY: SUBMARINE POWER CABLE MARKET, BY END USE, 2021–2028 (USD MILLION)
             11.2.4 DENMARK
                       11.2.4.1 Rising investments to develop offshore wind energy projects to favor market growth
                                   TABLE 50 DENMARK: SUBMARINE POWER CABLE MARKET, BY END USE, 2021–2028 (USD MILLION)
             11.2.5 NETHERLANDS
                       11.2.5.1 Promising investment opportunities for players in offshore wind sector to foster market growth
                                   TABLE 51 NETHERLANDS: SUBMARINE POWER CABLE MARKET, BY END USE, 2021–2028 (USD MILLION)
             11.2.6 NORWAY
                       11.2.6.1 Key players making significant investments in offshore oil and gas industry to drive market
                                   TABLE 52 NORWAY: SUBMARINE POWER CABLE MARKET, BY END USE, 2021–2028 (USD MILLION)
             11.2.7 FRANCE
                       11.2.7.1 Growing emphasis on developing energy sector to drive market growth
                                   TABLE 53 FRANCE: SUBMARINE POWER CABLE MARKET, BY END USE, 2021–2028 (USD MILLION)
             11.2.8 REST OF EUROPE
                       TABLE 54 REST OF EUROPE: SUBMARINE POWER CABLE MARKET, BY END USE, 2021–2028 (USD MILLION)
     11.3 ASIA PACIFIC 
               FIGURE 43 ASIA PACIFIC: SUBMARINE POWER CABLE MARKET SNAPSHOT
             11.3.1 RECESSION IMPACT: ASIA PACIFIC
                       TABLE 55 ASIA PACIFIC: SUBMARINE POWER CABLE MARKET, BY TYPE, 2021–2028 (USD MILLION)
                       TABLE 56 ASIA PACIFIC: SUBMARINE POWER CABLE MARKET, BY CORE TYPE, 2021–2028 (USD MILLION)
                       TABLE 57 ASIA PACIFIC: SUBMARINE POWER CABLE MARKET, BY VOLTAGE, 2021–2028 (USD MILLION)
                       TABLE 58 ASIA PACIFIC: SUBMARINE POWER CABLE MARKET, BY CONDUCTOR MATERIAL, 2021–2028 (USD MILLION)
                       TABLE 59 ASIA PACIFIC: SUBMARINE POWER CABLE MARKET, BY COUNTRY, 2021–2028 (USD MILLION
             11.3.2 CHINA
                       11.3.2.1 Increased focus on achieving carbon neutrality to drive market
                                   TABLE 60 CHINA: SUBMARINE POWER CABLE MARKET, BY END USE, 2021–2028 (USD MILLION)
             11.3.3 JAPAN
                       11.3.3.1 Rising government-led initiatives to protect undersea cables to drive market
                                   TABLE 61 JAPAN: SUBMARINE POWER CABLE MARKET, BY END USE, 2021–2028 (USD MILLION)
             11.3.4 SOUTH KOREA
                       11.3.4.1 Ongoing developments in offshore wind sector to fuel market growth
                                   TABLE 62 SOUTH KOREA: SUBMARINE POWER CABLE MARKET, BY END USE, 2021–2028 (USD MILLION)
             11.3.5 MALAYSIA
                       11.3.5.1 Rise in offshore oil & gas explorations to drive market
                                   TABLE 63 MALAYSIA: SUBMARINE POWER CABLE MARKET, BY END USE, 2021–2028 (USD MILLION)
             11.3.6 INDONESIA
                       11.3.6.1 Development of new offshore projects to foster market growth
                                   TABLE 64 INDONESIA: SUBMARINE POWER CABLE MARKET, BY END USE, 2021–2028 (USD MILLION)
             11.3.7 VIETNAM
                       11.3.7.1 Subsequent increase in offshore wind energy capacity to boost market growth
                                   TABLE 65 VIETNAM: SUBMARINE POWER CABLE MARKET, BY END USE, 2021–2028 (USD MILLION)
             11.3.8 REST OF ASIA PACIFIC
                       TABLE 66 REST OF ASIA PACIFIC: SUBMARINE POWER CABLE MARKET, BY END USE, 2021–2028 (USD MILLION)
     11.4 NORTH AMERICA 
             11.4.1 RECESSION IMPACT: NORTH AMERICA
                       TABLE 67 NORTH AMERICA: SUBMARINE POWER CABLE MARKET, BY TYPE, 2021–2028 (USD MILLION)
                       TABLE 68 NORTH AMERICA: SUBMARINE POWER CABLE MARKET, BY CORE TYPE, 2021–2028 (USD MILLION)
                       TABLE 69 NORTH AMERICA: SUBMARINE POWER CABLE MARKET, BY VOLTAGE, 2021–2028 (USD MILLION)
                       TABLE 70 NORTH AMERICA: SUBMARINE POWER CABLE MARKET, BY CONDUCTOR MATERIAL, 2021–2028 (USD MILLION)
                       TABLE 71 NORTH AMERICA: SUBMARINE POWER CABLE MARKET SIZE, BY END USE, 2021–2028 (USD MILLION)
                       TABLE 72 NORTH AMERICA: SUBMARINE POWER CABLE MARKET, BY COUNTRY, 2021–2028 (USD MILLION)
             11.4.2 US
                       11.4.2.1 Implementation of comprehensive strategies by Department of Energy to boost market
                                   TABLE 73 US: SUBMARINE POWER CABLE MARKET, BY END USE, 2021–2028 (USD MILLION)
             11.4.3 CANADA
                       11.4.3.1 Government-led initiatives to promote and support clean economy with renewable energy technologies to fuel market growth
                                   TABLE 74 CANADA: SUBMARINE POWER CABLE MARKET, BY END USE, 2021–2028 (USD MILLION)
             11.4.4 MEXICO
                       11.4.4.1 Large and diverse renewable energy resource base to offer lucrative opportunities to players
                                   TABLE 75 MEXICO: SUBMARINE POWER CABLE MARKET, BY END USE, 2021–2028 (USD MILLION)
     11.5 MIDDLE EAST & AFRICA 
             11.5.1 RECESSION IMPACT: MIDDLE EAST & AFRICA
                       TABLE 76 MIDDLE EAST & AFRICA: SUBMARINE POWER CABLE MARKET, BY TYPE, 2021–2028 (USD MILLION)
                       TABLE 77 MIDDLE EAST & AFRICA: SUBMARINE POWER CABLE MARKET, BY CORE TYPE, 2021–2028 (USD MILLION)
                       TABLE 78 MIDDLE EAST & AFRICA: SUBMARINE POWER CABLE MARKET, BY VOLTAGE, 2021–2028 (USD MILLION)
                       TABLE 79 MIDDLE EAST & AFRICA: SUBMARINE POWER CABLE MARKET, BY CONDUCTOR MATERIAL, 2021–2028 (USD MILLION)
                       TABLE 80 MIDDLE EAST & AFRICA: SUBMARINE POWER CABLE MARKET, BY END USE, 2021–2028 (USD MILLION)
                       TABLE 81 MIDDLE EAST & AFRICA: SUBMARINE POWER CABLE MARKET, BY COUNTRY, 2021–2028 (USD BILLION)
             11.5.2 SAUDI ARABIA
                       11.5.2.1 Significant presence of productive onshore oilfields to drive market
                                   TABLE 82 SAUDI ARABIA: SUBMARINE POWER CABLE MARKET, BY END USE, 2021–2028 (USD MILLION)
             11.5.3 UAE
                       11.5.3.1 Implementation of Enhanced Oil Recovery (EOR) technique in oil fields to surge demand
                                   TABLE 83 UAE: SUBMARINE POWER CABLE MARKET, BY END USE, 2021–2028 (USD MILLION)
             11.5.4 ANGOLA
                       11.5.4.1 Rising focus on exploring and producing offshore crude oil and natural gas to fuel market growth
                                   TABLE 84 ANGOLA: SUBMARINE POWER CABLE MARKET, BY END USE, 2021–2028 (USD MILLION)
             11.5.5 REST OF MIDDLE EAST & AFRICA
                       TABLE 85 REST OF MIDDLE EAST & AFRICA: SUBMARINE POWER CABLE MARKET, BY END USE, 2021–2028 (USD MILLION)
     11.6 SOUTH AMERICA 
             11.6.1 RECESSION IMPACT: SOUTH AMERICA
                       TABLE 86 SOUTH AMERICA: SUBMARINE POWER CABLE MARKET, BY CORE TYPE, 2021–2028 (USD MILLION)
                       TABLE 87 SOUTH AMERICA: SUBMARINE POWER CABLE MARKET, BY TYPE, 2021–2028 (USD MILLION)
                       TABLE 88 SOUTH AMERICA: SUBMARINE POWER CABLE MARKET, BY VOLTAGE, 2021–2028 (USD MILLION)
                       TABLE 89 SOUTH AMERICA: SUBMARINE POWER CABLE MARKET, BY CONDUCTOR MATERIAL, 2021–2028 (USD MILLION)
                       TABLE 90 SOUTH AMERICA: SUBMARINE POWER CABLE MARKET SIZE, BY END USE, 2021–2028 (USD MILLION)
                       TABLE 91 SOUTH AMERICA: SUBMARINE POWER CABLE MARKET, BY COUNTRY, 2021–2028 (USD MILLION)
             11.6.2 BRAZIL
                       11.6.2.1 Growing offshore exploration and oil production activities to drive market
                                   TABLE 92 BRAZIL: SUBMARINE POWER CABLE MARKET, BY END USE, 2021–2028 (USD MILLION)
             11.6.3 ARGENTINA
                       11.6.3.1 Rising government investments for offshore gas production venture to drive market
                                   TABLE 93 ARGENTINA: SUBMARINE POWER CABLE MARKET, BY END USE, 2021–2028 (USD MILLION)
             11.6.4 REST OF SOUTH AMERICA
                       TABLE 94 REST OF SOUTH AMERICA: SUBMARINE POWER CABLE MARKET, BY END USE, 2021–2028 (USD MILLION)
 
12 COMPETITIVE LANDSCAPE (Page No. - 135)
     12.1 OVERVIEW 
     12.2 KEY STRATEGIES ADOPTED BY MAJOR PLAYERS 
               TABLE 95 SUBMARINE POWER CABLE MARKET: OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS
     12.3 MARKET SHARE ANALYSIS, 2022 
               FIGURE 44 SUBMARINE POWER CABLE MARKET SHARE ANALYSIS, 2022
               TABLE 96 SUBMARINE POWER CABLE MARKET SHARE ANALYSIS, 2022
               FIGURE 45 SUBMARINE POWER CABLE MARKET SHARE ANALYSIS OF KEY PLAYERS, 2022
     12.4 REVENUE ANALYSIS, 2018–2022 
               FIGURE 46 SUBMARINE POWER CABLE MARKET: REVENUE ANALYSIS OF TOP FIVE PLAYERS, 2018–2022
     12.5 EVALUATION MATRIX OF KEY COMPANIES, 2022 
             12.5.1 STARS
             12.5.2 PERVASIVE PLAYERS
             12.5.3 EMERGING LEADERS
             12.5.4 PARTICIPANTS
                       FIGURE 47 SUBMARINE POWER CABLE MARKET: EVALUATION MATRIX OF KEY COMPANIES, 2022
     12.6 SUBMARINE POWER CABLE MARKET: COMPANY FOOTPRINT 
               TABLE 97 COMPANY FOOTPRINT
               TABLE 98 TYPE: COMPANY FOOTPRINT
               TABLE 99 END USE: COMPANY FOOTPRINT
               TABLE 100 REGION: COMPANY FOOTPRINT
     12.7 COMPETITIVE SCENARIOS AND TRENDS 
             12.7.1 PRODUCT LAUNCHES
                       TABLE 101 SUBMARINE POWER CABLE MARKET: PRODUCT LAUNCHES, 2021–2023
             12.7.2 DEALS
                       TABLE 102 SUBMARINE POWER CABLE MARKET: DEALS, 2021–2023
             12.7.3 OTHERS
                       TABLE 103 SUBMARINE POWER CABLE MARKET: OTHERS, 2021–2023
 
13 COMPANY PROFILES (Page No. - 147)
     13.1 KEY PLAYERS 
(Business Overview, Products/Services/Solutions Offered, MnM View, Key Strengths and Right to Win, Strategic Choices Made, Weaknesses and Competitive Threats, Recent Developments)*
             13.1.1 SUMITOMO ELECTRIC INDUSTRIES, LTD.
                       TABLE 104 SUMITOMO ELECTRIC INDUSTRIES, LTD.: COMPANY OVERVIEW
                       FIGURE 48 SUMITOMO ELECTRIC INDUSTRIES, LTD.: COMPANY SNAPSHOT
                       TABLE 105 SUMITOMO ELECTRIC INDUSTRIES, LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 106 SUMITOMO ELECTRIC INDUSTRIES, LTD.: DEALS
                       TABLE 107 SUMITOMO ELECTRIC INDUSTRIES, LTD.: OTHERS
             13.1.2 PRYSMIAN SPA
                       TABLE 108 PRYSMIAN GROUP: COMPANY OVERVIEW
                       FIGURE 49 PRYSMIAN GROUP: COMPANY SNAPSHOT
                       TABLE 109 PRYSMIAN GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 110 PRYSMIAN GROUP: PRODUCT LAUNCHES
                       TABLE 111 PRYSMIAN GROUP: DEALS
                       TABLE 112 PRYSMIAN GROUP: OTHERS
             13.1.3 NEXANS
                       TABLE 113 NEXANS: COMPANY OVERVIEW
                       FIGURE 50 NEXANS: COMPANY SNAPSHOT
                       TABLE 114 NEXANS: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 115 NEXANS: DEALS
                       TABLE 116 NEXANS: OTHERS
             13.1.4 NKT A/S
                       TABLE 117 NKT A/S: COMPANY OVERVIEW
                       FIGURE 51 NKT A/S: COMPANY SNAPSHOT
                       TABLE 118 NKT A/S: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 119 NKT A/S: PRODUCT LAUNCHES
                       TABLE 120 NKT A/S: DEALS
                       TABLE 121 NKT A/S: OTHERS
             13.1.5 LS CABLE & SYSTEM LTD.
                       TABLE 122 LS CABLE & SYSTEM LTD.: COMPANY OVERVIEW
                       FIGURE 52 LS CABLE & SYSTEM LTD.: COMPANY SNAPSHOT
                       TABLE 123 LS CABLE & SYSTEM LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 124 LS CABLE & SYSTEM LTD.: OTHERS
             13.1.6 FURUKAWA ELECTRIC CO., LTD.
                       TABLE 125 FURUKAWA ELECTRIC CO., LTD.: COMPANY OVERVIEW
                       FIGURE 53 FURUKAWA ELECTRIC CO., LTD.: COMPANY SNAPSHOT
                       TABLE 126 FURUKAWA ELECTRIC CO., LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 127 FURUKAWA ELECTRIC CO., LTD.: OTHERS
             13.1.7 ZTT
                       TABLE 128 ZTT: COMPANY OVERVIEW
                       FIGURE 54 ZTT: COMPANY SNAPSHOT
                       TABLE 129 ZTT: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 130 ZTT: OTHERS
             13.1.8 KEI INDUSTRIES LIMITED
                       TABLE 131 KEI INDUSTRIES LIMITED: COMPANY OVERVIEW
                       FIGURE 55 KEI INDUSTRIES LIMITED: COMPANY SNAPSHOT
                       TABLE 132 KEI INDUSTRIES LIMITED: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 133 KEI INDUSTRIES LIMITED: DEALS
             13.1.9 TFKABLE
                       TABLE 134 TFKABLE: COMPANY OVERVIEW
                       TABLE 135 TFKABLE: PRODUCTS/SOLUTIONS/SERVICES OFFERED
             13.1.10 TAIHAN CABLE & SOLUTION CO., LTD.
                       TABLE 136 TAIHAN CABLE & SOLUTION CO., LTD.: COMPANY OVERVIEW
                       FIGURE 56 TAIHAN CABLE & SOLUTION CO., LTD.: COMPANY SNAPSHOT
                       TABLE 137 TAIHAN CABLE & SOLUTION CO., LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 138 TAIHAN CABLE & SOLUTION CO., LTD.: OTHERS
             13.1.11 HENGTONG GROUP CO., LTD.
                       TABLE 139 HENGTONG GROUP CO., LTD: COMPANY OVERVIEW
                       TABLE 140 HENGTONG GROUP CO., LTD: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 141 HENGTONG GROUP CO., LTD: OTHERS
             13.1.12 TRATOS
                       TABLE 142 TRATOS: COMPANY OVERVIEW
                       TABLE 143 TRATOS: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 144 TRATOS: OTHERS
             13.1.13 HYDRO GROUP
                       TABLE 145 HYDRO GROUP: COMPANY OVERVIEW
                       TABLE 146 HYDRO GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED
             13.1.14 THE OKONITE COMPANY
                       TABLE 147 THE OKONITE COMPANY: COMPANY OVERVIEW
                       TABLE 148 THE OKONITE COMPANY: PRODUCTS/SOLUTIONS/SERVICES OFFERED
             13.1.15 HELLENIC CABLES
                       TABLE 149 HELLENIC CABLES: COMPANY OVERVIEW
                       TABLE 150 HELLENIC CABLES: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 151 HELLENIC CABLES: OTHERS
*Business Overview, Products/Services/Solutions Offered, MnM View, Key Strengths and Right to Win, Strategic Choices Made, Weaknesses and Competitive Threats, Recent Developments might not be captured in case of unlisted companies.
     13.2 OTHER PLAYERS 
             13.2.1 BHUWAL INSULATION CABLE PVT. LTD
             13.2.2 APAR INDUSTRIES
             13.2.3 JDR CABLE SYSTEMS LTD.
             13.2.4 SSGCABLE
             13.2.5 1X TECHNOLOGIES LLC
 
14 APPENDIX (Page No. - 201)
     14.1 INSIGHTS FROM INDUSTRY EXPERTS 
     14.2 DISCUSSION GUIDE 
     14.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 
     14.4 CUSTOMIZATION OPTIONS 
     14.5 RELATED REPORTS 
     14.6 AUTHOR DETAILS 

The study involved major activities in estimating the current size of the Submarine Power Cable market. Exhaustive secondary research was done to collect information on the peer and parent markets. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of the segments and subsegments.

Secondary Research

This research study on the Submarine Power Cable market involved the use of extensive secondary sources, directories, and databases, such as Hoovers, Bloomberg, Businessweek, Factiva, International Energy Agency, and BP Statistical Review of World Energy, to identify and collect information useful for a technical, market-oriented, and commercial study of the global Submarine Power Cable market. The other secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, manufacturer associations, trade directories, and databases.

Primary Research

The Submarine Power Cable market comprises several stakeholders such as generator manufacturers, manufacturers of subcomponents of Submarine Power Cable, manufacturing technology providers, and technology support providers in the supply chain. The demand side of this market is characterized by the rising offshore wind energy installations. The supply side is characterized by rising demand for contracts from the industrial sector, and mergers & acquisitions among big players. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. Following is the breakdown of primary respondents:

Submarine Power Cable Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and validate the total size of the Submarine Power Cable market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

  • The key players in the industry and market have been identified through extensive secondary research, and their market share in the respective regions have been determined through both primary and secondary research.
  • The industry’s value chain and market size, in terms of value, have been determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Global Submarine Power Cable Market Size: Top-down Approach

Submarine Power Cable Market Size, and Share

To know about the assumptions considered for the study, Request for Free Sample Report

Global Submarine Power Cable Market Size: Bottom-Up Approach

Submarine Power Cable Market Size, and Share

Data Triangulation

After arriving at the overall market size from the estimation process explained above, the total market has been split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all the segments and subsegments, the data triangulation and market breakdown processes have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand- and supply sides. Along with this, the market has been validated using both the top-down and bottom-up approaches.

Market Definition

A hybrid power solution refers to a unit that combines multiple sources of energy generation to produce electricity. It typically integrates renewable energy sources, such as solar, and wind, with conventional power technologies like diesel generators. The combination of these sources allows for increased efficiency, reliability, and flexibility in electricity production.

Key Stakeholders

  • Government & research organizations
  • Institutional investors and investment banks
  • Investors/shareholders
  • Environmental research institutes

Objectives of the Study

  • To define, describe, segment, and forecast the Submarine Power Cable market, in terms of value and volume, on the basis of system type, end user, grid connectivity, power rating, and region
  • To forecast the market size for five key regions: North America, South America, Europe, Asia Pacific, and Middle East & Africa, along with their key countries
  • To provide detailed information about the key drivers, restraints, opportunities, and challenges influencing the growth of the market
  • To strategically analyze the subsegments with respect to individual growth trends, prospects, and contributions of each segment to the overall market size
  • To analyze market opportunities for stakeholders and the competitive landscape of the market
  • To strategically profile the key players and comprehensively analyze their market shares and core competencies
  • To analyze competitive developments, such as sales contracts, agreements, investments, expansions, new product launches, mergers, partnerships, collaborations, and acquisitions, in the market

Available Customizations:

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Geographic Analysis

  • Further breakdown of region or country-specific analysis

Company Information

  • Detailed analyses and profiling of additional market players (up to 5)
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We will customize the research for you, in case the report listed above does not meet with your exact requirements. Our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions.

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Report Code
EP 6360
Published ON
Sep, 2023
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