The submarine power cable market is expected to grow from an estimated market size of USD 8.12 Billion in 2018 to USD 16.56 Billion by 2023, at a CAGR of 15.32%, from 2018 to 2023. The overall market is set to witness significant growth because of the increasing offshore wind installations, growing demand for inter-country and island connection, and demand from offshore oil & gas sector. Increasing demand for HVDC connections is one of the major opportunities for the submarine power cable market.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=160046356
Offshore Wind Power Generation: The largest segment, by End-User, during the forecast period
The offshore wind power generation segment is expected to hold the largest share of the submarine power cable market during the forecast period. Growing investment in the renewable sector and technology advancements along with government initiatives are the major factors driving the submarine power cable market in Europe. New offshore wind generation capacity is under development in countries in Asia Pacific, especially China. These factors have resulted in the highest market share of the offshore wind power generation segment in the submarine power cable market.
 |
The high voltage segment accounts for the largest share of the submarine power cable market, by voltage, during the forecast period
The high voltage segment is expected to be the largest market, by voltage, from 2018 to 2023. Factors driving the market for high-voltage submarine power cables ranging above 33 kV include vast implementation of these submarine power cables in the offshore wind industry and inter-country & island connections.
Europe: The fastest-growing market for submarine power cables
In this report, the submarine power cable market has been analyzed on the basis of 5 regions: Asia Pacific, North America, Europe, and the Middle East & Africa. The submarine power cable market in Europe is driven by countries such as UK, Germany, Denmark, and Netherlands. The demand for submarine power cables in this sector is driven by rising offshore wind installations accelerated by significant technology advances.
Ask FREE Sample Pages @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=160046356
To enable an in-depth understanding of the competitive landscape, the report includes the profiling of some of the key players in the submarine power cable market. These players include Prysmian (Italy), Nexans (France), NKT (Denmark), General Cable (US), and Furukawa Electric (Japan). Leading players are trying to establish themselves in the markets in developing economies and are adopting various strategies to increase their market shares.
Objectives of the Study
- To define, describe, and forecast the global submarine power cables market on the basis of type, voltage, end-user, conductor material type, and region
- To provide detailed information on major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
- To strategically analyze the submarine power cables market with respect to individual growth trends, future expansions, and contributions to the market
- To analyze market opportunities for stakeholders and details of a competitive landscape for market leaders
- To forecast the growth of the submarine power cables market with respect to major regions (North America, Europe, Asia Pacific, South America, and Middle East & Africa)
- To profile key players and comprehensively analyze their market ranking and core competencies
- To analyze competitive developments, such as mergers & acquisitions, expansion, new product developments, and contracts & agreements in the field of submarine power cables market
Browse related reports:
Cables and Accessories Market by Voltage (Low, Medium, High), LV by Installation (Overhead (Conductors, Accessories), Underground (PVC, XLPE, Terminations, and Joints)), LV by End-User (Industrial, Renewables), and Region - Global Forecast to 2022
Wire and Cable Management Market by Product (Trays & Ladders, Raceway, Connectors, Ties, Conduit), Cable Type (Power Cable, Communication Wire & Cable), Material (Metallic and Non-Metallic), End-User, and Region - Global Trends and Forecasts to 2023
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com
No comments:
Post a Comment