
Submarine Power Cable Market by Core Type (Multicore, Single Core), Conductor Material (Aluminum, Copper), Cable Type, Voltage Level, End-User - Global Forecast 2024-2030
Description
Submarine Power Cable Market by Core Type (Multicore, Single Core), Conductor Material (Aluminum, Copper), Cable Type, Voltage Level, End-User - Global Forecast 2024-2030
The Submarine Power Cable Market size was estimated at USD 15.21 billion in 2023 and expected to reach USD 16.85 billion in 2024, at a CAGR 11.34% to reach USD 32.29 billion by 2030.
Global Submarine Power Cable Market
The submarine power cable market comprises the design, manufacture, installation, and maintenance of high-voltage electrical cables laid underwater to transmit electricity between offshore energy generation facilities (such as wind farms or tidal power stations) and onshore power grids. These cables play a crucial role in connecting renewable energy sources with mainland transmission networks, thus enabling efficient energy distribution and driving sustainable growth across various industries. Submarine power cables find application in offshore wind farms, inter-country & island connections, and offshore oil & gas platforms. The global push towards reducing carbon emissions has led countries to invest heavily in renewable energy sources such as offshore wind farms. Technological advancements in cable manufacturing have helped create more durable, efficient, and cost-effective solutions. However, submarine cable installation requires significant initial capital investments, which could discourage some players from entering the market or limit their capacity for additional investments. Regulatory concerns also pose challenges, as they require companies to navigate complex permitting processes. Efforts by major players to invest in advancements to ease the process of regulatory approvals for projects are increasing. Additionally, leveraging digital platforms to optimize submarine cable systems through predictive analytics to increase efficiency can increase the scope of the industry.
Regional Insights
In the Americas, countries are witnessing significant growth in their offshore wind energy sector, leading to increased demand for submarine power cables. The US Department of Energy has set ambitious targets for offshore wind capacity by 2050, while Canada aims at increasing its renewable energy share. These factors have attracted investments in developing transmission infrastructure and strengthening the regional market. The European Union holds a dominant position in the global submarine power cable market due to its focus on renewable and clean energy. Countries such Germany, UK, and Denmark have made substantial investments in research and innovation. Subsea interconnections between the various EU nations, such as France and Germany, are driving the demand for submarine power cables. In Asia Pacific, China and India are emerging as key players in the submarine power cable industry. Both nations have set ambitious renewable energy targets which drive their investment in wind and solar energy projects. India is increasing its efforts to connect power grids with undersea cables, necessitating the deployment of efficient submarine power cables. Japan holds a significant share of the Asia-Pacific submarine power cable market due to its strategic geographical location and advanced technological developments.
FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the Submarine Power Cable Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Submarine Power Cable Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Key Company Profiles
The report delves into recent significant developments in the Submarine Power Cable Market, highlighting leading vendors and their innovative profiles. These include ABB Limited, Belden Inc., Fujitsu Limited, Furukawa Electric Co., Ltd., Hellenic Cables S.A., Hengtong Group Co., Ltd., Hesfibel Subsea Cables, Hydro Group, JDR Cable Systems Ltd., KEI Industries Limited, LS Cable & System Ltd., Nexans SA, Ningbo Orient Wires & Cables Co., Ltd., NKT A/S, Novacavi srl, Prysmian S.p.A., S.B.Submarine Systems, SSG Cable, Sumitomo Electric Industries Limited, Taihan Cable & Solution Co., Ltd., TELE-FONIKA Kable S.A., ZMS Cable Group, and ZTT International Limited.
Market Segmentation & Coverage
This research report categorizes the Submarine Power Cable Market to forecast the revenues and analyze trends in each of the following sub-markets:
Core Type
Multicore
Single Core
Conductor Material
Aluminum
Copper
Cable Type
AC
DC
Voltage Level
High Voltage
Low Voltage
Medium Voltage
End-User
Inter-Country & Island Connection
Offshore Oil & Gas
Offshore Wind Power Generation
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom
The report offers valuable insights on the following aspects:
1. Market Penetration: It presents comprehensive information on the market provided by key players.
2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
The report addresses key questions such as:
1. What is the market size and forecast of the Submarine Power Cable Market?
2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Submarine Power Cable Market?
3. What are the technology trends and regulatory frameworks in the Submarine Power Cable Market?
4. What is the market share of the leading vendors in the Submarine Power Cable Market?
5. Which modes and strategic moves are suitable for entering the Submarine Power Cable Market?
Note: PDF & Excel + Online Access - 1 Year
Table of Contents
197 Pages
- 1. Preface
- 1.1. Objectives of the Study
- 1.2. Market Segmentation & Coverage
- 1.3. Years Considered for the Study
- 1.4. Currency & Pricing
- 1.5. Language
- 1.6. Limitations
- 1.7. Assumptions
- 1.8. Stakeholders
- 2. Research Methodology
- 2.1. Define: Research Objective
- 2.2. Determine: Research Design
- 2.3. Prepare: Research Instrument
- 2.4. Collect: Data Source
- 2.5. Analyze: Data Interpretation
- 2.6. Formulate: Data Verification
- 2.7. Publish: Research Report
- 2.8. Repeat: Report Update
- 3. Executive Summary
- 4. Market Overview
- 4.1. Introduction
- 4.2. Submarine Power Cable Market, by Region
- 5. Market Insights
- 5.1. Market Dynamics
- 5.1.1. Drivers
- 5.1.1.1. Growing number of offshore wind farms
- 5.1.1.2. Increasing growth of offshore oil & gas operations
- 5.1.1.3. High use of high voltage direct current (HVDC) submarine power cables
- 5.1.2. Restraints
- 5.1.2.1. High cost of installation and complexity of repair process
- 5.1.3. Opportunities
- 5.1.3.1. Rising need for inter-country & island power connections
- 5.1.3.2. Design improvements and advancements in submarine power cable
- 5.1.4. Challenges
- 5.1.4.1. Regulatory, environmental, & complex authorization procedures
- 5.2. Market Segmentation Analysis
- 5.2.1. Core type: Rapidly expanding energy distribution through multicore and single core submarine power cables
- 5.2.2. Conductor material: Advancements and efficiency increased in the conductor material used for submarine power cables
- 5.2.3. Cable type: Transmitting power and energy across large distances using AC and DC cable type
- 5.2.4. End-user: Development of innovative submarine power cables for various use cases
- 5.3. Market Trend Analysis
- 5.4. Cumulative Impact of High Inflation
- 5.5. Porter’s Five Forces Analysis
- 5.5.1. Threat of New Entrants
- 5.5.2. Threat of Substitutes
- 5.5.3. Bargaining Power of Customers
- 5.5.4. Bargaining Power of Suppliers
- 5.5.5. Industry Rivalry
- 5.6. Value Chain & Critical Path Analysis
- 5.7. Regulatory Framework
- 6. Submarine Power Cable Market, by Core Type
- 6.1. Introduction
- 6.2. Multicore
- 6.3. Single Core
- 7. Submarine Power Cable Market, by Conductor Material
- 7.1. Introduction
- 7.2. Aluminum
- 7.3. Copper
- 8. Submarine Power Cable Market, by Cable Type
- 8.1. Introduction
- 8.2. AC
- 8.3. DC
- 9. Submarine Power Cable Market, by Voltage Level
- 9.1. Introduction
- 9.2. High Voltage
- 9.3. Low Voltage
- 9.4. Medium Voltage
- 10. Submarine Power Cable Market, by End-User
- 10.1. Introduction
- 10.2. Inter-Country & Island Connection
- 10.3. Offshore Oil & Gas
- 10.4. Offshore Wind Power Generation
- 11. Americas Submarine Power Cable Market
- 11.1. Introduction
- 11.2. Argentina
- 11.3. Brazil
- 11.4. Canada
- 11.5. Mexico
- 11.6. United States
- 12. Asia-Pacific Submarine Power Cable Market
- 12.1. Introduction
- 12.2. Australia
- 12.3. China
- 12.4. India
- 12.5. Indonesia
- 12.6. Japan
- 12.7. Malaysia
- 12.8. Philippines
- 12.9. Singapore
- 12.10. South Korea
- 12.11. Taiwan
- 12.12. Thailand
- 12.13. Vietnam
- 13. Europe, Middle East & Africa Submarine Power Cable Market
- 13.1. Introduction
- 13.2. Denmark
- 13.3. Egypt
- 13.4. Finland
- 13.5. France
- 13.6. Germany
- 13.7. Israel
- 13.8. Italy
- 13.9. Netherlands
- 13.10. Nigeria
- 13.11. Norway
- 13.12. Poland
- 13.13. Qatar
- 13.14. Russia
- 13.15. Saudi Arabia
- 13.16. South Africa
- 13.17. Spain
- 13.18. Sweden
- 13.19. Switzerland
- 13.20. Turkey
- 13.21. United Arab Emirates
- 13.22. United Kingdom
- 14. Competitive Landscape
- 14.1. FPNV Positioning Matrix
- 14.2. Market Share Analysis, By Key Player
- 14.3. Competitive Scenario Analysis, By Key Player
- 14.3.1. Merger & Acquisition
- 14.3.1.1. OEG Offshore Acquires Subsea Cable Specialist Pelagian
- 14.3.1.2. Aqua Comms Acquires Indian Cable Landing Company Openbyte Infrastructure
- 14.3.2. New Product Launch & Enhancement
- 14.3.2.1. NTT Launches Hyperscale Data Center Campus, Subsea Cable System ‘MIST’ in Chennai
- 15. Competitive Portfolio
- 15.1. Key Company Profiles
- 15.1.1. ABB Limited
- 15.1.2. Belden Inc.
- 15.1.3. Fujitsu Limited
- 15.1.4. Furukawa Electric Co., Ltd.
- 15.1.5. Hellenic Cables S.A.
- 15.1.6. Hengtong Group Co., Ltd.
- 15.1.7. Hesfibel Subsea Cables
- 15.1.8. Hydro Group
- 15.1.9. JDR Cable Systems Ltd.
- 15.1.10. KEI Industries Limited
- 15.1.11. LS Cable & System Ltd.
- 15.1.12. Nexans SA
- 15.1.13. Ningbo Orient Wires & Cables Co., Ltd.
- 15.1.14. NKT A/S
- 15.1.15. Novacavi srl
- 15.1.16. Prysmian S.p.A.
- 15.1.17. S.B.Submarine Systems
- 15.1.18. SSG Cable
- 15.1.19. Sumitomo Electric Industries Limited
- 15.1.20. Taihan Cable & Solution Co., Ltd.
- 15.1.21. TELE-FONIKA Kable S.A.
- 15.1.22. ZMS Cable Group
- 15.1.23. ZTT International Limited
- 15.2. Key Product Portfolio
- 16. Appendix
- 16.1. Discussion Guide
- 16.2. License & Pricing
- FIGURE 1. SUBMARINE POWER CABLE MARKET RESEARCH PROCESS
- FIGURE 2. SUBMARINE POWER CABLE MARKET SIZE, 2023 VS 2030
- FIGURE 3. SUBMARINE POWER CABLE MARKET SIZE, 2018-2030 (USD MILLION)
- FIGURE 4. SUBMARINE POWER CABLE MARKET SIZE, BY REGION, 2023 VS 2030 (%)
- FIGURE 5. SUBMARINE POWER CABLE MARKET SIZE, BY REGION, 2023 VS 2024 VS 2030 (USD MILLION)
- FIGURE 6. SUBMARINE POWER CABLE MARKET DYNAMICS
- FIGURE 7. SUBMARINE POWER CABLE MARKET SIZE, BY CORE TYPE, 2023 VS 2030 (%)
- FIGURE 8. SUBMARINE POWER CABLE MARKET SIZE, BY CORE TYPE, 2023 VS 2024 VS 2030 (USD MILLION)
- FIGURE 9. SUBMARINE POWER CABLE MARKET SIZE, BY CONDUCTOR MATERIAL, 2023 VS 2030 (%)
- FIGURE 10. SUBMARINE POWER CABLE MARKET SIZE, BY CONDUCTOR MATERIAL, 2023 VS 2024 VS 2030 (USD MILLION)
- FIGURE 11. SUBMARINE POWER CABLE MARKET SIZE, BY CABLE TYPE, 2023 VS 2030 (%)
- FIGURE 12. SUBMARINE POWER CABLE MARKET SIZE, BY CABLE TYPE, 2023 VS 2024 VS 2030 (USD MILLION)
- FIGURE 13. SUBMARINE POWER CABLE MARKET SIZE, BY VOLTAGE LEVEL, 2023 VS 2030 (%)
- FIGURE 14. SUBMARINE POWER CABLE MARKET SIZE, BY VOLTAGE LEVEL, 2023 VS 2024 VS 2030 (USD MILLION)
- FIGURE 15. SUBMARINE POWER CABLE MARKET SIZE, BY END-USER, 2023 VS 2030 (%)
- FIGURE 16. SUBMARINE POWER CABLE MARKET SIZE, BY END-USER, 2023 VS 2024 VS 2030 (USD MILLION)
- FIGURE 17. AMERICAS SUBMARINE POWER CABLE MARKET SIZE, BY COUNTRY, 2023 VS 2030 (%)
- FIGURE 18. AMERICAS SUBMARINE POWER CABLE MARKET SIZE, BY COUNTRY, 2023 VS 2024 VS 2030 (USD MILLION)
- FIGURE 19. UNITED STATES SUBMARINE POWER CABLE MARKET SIZE, BY STATE, 2023 VS 2030 (%)
- FIGURE 20. UNITED STATES SUBMARINE POWER CABLE MARKET SIZE, BY STATE, 2023 VS 2024 VS 2030 (USD MILLION)
- FIGURE 21. ASIA-PACIFIC SUBMARINE POWER CABLE MARKET SIZE, BY COUNTRY, 2023 VS 2030 (%)
- FIGURE 22. ASIA-PACIFIC SUBMARINE POWER CABLE MARKET SIZE, BY COUNTRY, 2023 VS 2024 VS 2030 (USD MILLION)
- FIGURE 23. EUROPE, MIDDLE EAST & AFRICA SUBMARINE POWER CABLE MARKET SIZE, BY COUNTRY, 2023 VS 2030 (%)
- FIGURE 24. EUROPE, MIDDLE EAST & AFRICA SUBMARINE POWER CABLE MARKET SIZE, BY COUNTRY, 2023 VS 2024 VS 2030 (USD MILLION)
- FIGURE 25. SUBMARINE POWER CABLE MARKET, FPNV POSITIONING MATRIX, 2023
- FIGURE 26. SUBMARINE POWER CABLE MARKET SHARE, BY KEY PLAYER, 2023
Pricing
Currency Rates
Questions or Comments?
Our team has the ability to search within reports to verify it suits your needs. We can also help maximize your budget by finding sections of reports you can purchase.