Submarine Power Cable Market Comprehensive Insights and Growth Potential In The Future

Overview of Submarine Power Cable Market

The submarine power cable market is estimated to be valued at USD 16.56 billion by 2023, at a CAGR of 15.32% from 2018 to 2023. Submarine power cables are widely used to connect offshore wind farms to mainland grids. Increasing demand for inter-country and island connection and increasing offshore wind installations in UK, Germany, and China are contributing to the growth of the submarine power cable market. Increasing demand for HVDC connections is one of the major opportunities for the submarine power cable market.

Europe is expected to be the fastest-growing market for submarine power cables from 2018 to 2023. The demand for submarine power cables in Europe is driven by the improvement and development of offshore wind technology, which led to new offshore wind capacity additions across various countries in the region.

Download PDF Brochure @  https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=160046356  

UK, Germany, Denmark, and Netherlands are witnessing a significant rise in new capacity addition, which has led to a growth in the demand for submarine power cables. UK and Germany are expected to be the two largest markets for submarine power cables in Europe in 2018. The growth of offshore wind sector in these countries is supported by increasing government initiatives, such as zero bids for offshore in Germany and a full zero subsidy tender in the Netherlands. Moreover, the market is also expected to grow significantly in Denmark and Netherlands, as well as in Finland, France, and Sweden during the forecast period.

The report’s target audience includes:

·         Submarine power cable manufacturing company

·         Industry and consulting firms

·         State and national regulatory authorities

·         Transmission and distribution utilities

·         Government and industry associations

·         Submarine cable associations

The offshore wind power generation segment is expected to be the fastest-growing segment of the submarine power cable market from 2018 to 2023. This can be attributed to technology advancements and cost reductions. North America is the fastest-growing market for submarine power cables and offers various business opportunities to submarine power cable manufacturers in the offshore wind power generation segment. High electricity price and high electricity demand, along with the state governments backing for the renewable energy industry, are the main drivers of offshore wind development in North America.

The high voltage segment is expected to be the fastest-growing market, by voltage, from 2018 to 2023. The high voltage submarine power cable ranging above 33 kV is used for grid interconnections and for connecting offshore platforms such as offshore wind generation and offshore oil & gas facilities to the mainland grid. As cable technology advances, more projects are being planned that require longer, deeper, and higher-capacity cables. Hence, UK, Germany, Denmark, and Netherlands are expected to experience a lot of investments in grid interconnections and offshore wind sector in the coming years, which will result in higher market share of the high voltage submarine power cable segment.

Browse Research Report Summary With Complete TOC @ https://www.marketsandmarkets.com/Market-Reports/submarine-power-cable-market-160046356.html

The single core segment is expected to be the fastest-growing segment of the submarine power cable market from 2018 to 2023. Single core cables offer many benefits to operators, including easier and cheaper deployment. They are more suitable to cover longer distance as these cables experience lower reverse current when compared to multi-core cables. Upcoming extra-high voltage projects in Asia Pacific, Europe, and North America are expected to drive the segment during the forecast period.

The copper segment is expected to be the fastest-growing segment of the submarine power cable market from 2018 to 2023.  Copper has better corrosion resistance than aluminum. Moreover, cables using copper have a smaller cross-section diameter than those using aluminum as copper has higher conductivity and requires a smaller cross-section area for the same current-carrying capability. The submarine power cable market with copper as conductor material is driven by technical factors such as high conductivity and specific weight advantage, which lead to a more efficient cable-laying process and greater stability of cables.

Browse more related reports:

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

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

Self-Healing Grid Market Comprehensive Insights and Growth Potential in The Future

The self-healing grid market is estimated to grow at a CAGR of 9.07%, from 2017 to 2022, to reach a projected value of USD 2.66 billion by 2022. A self healing grid is a combination of sensors, automated controls, and advanced software that helps in reducing the occurrence of power outages by identifying faults and taking necessary action. A self-healing grid also utilizes real-time distribution data to identify the fault and isolate the fault area, thus, increasing grid reliability. Modernization of aging grid infrastructure is one of the major opportunities for the self-healing grid market.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=60620398

Asia Pacific is expected to be the fastest-growing market for self-healing grid from 2017 to 2022. The growing focus on modernizing the grid, mostly in China and Japan, along with increasing government initiatives in the deployment of new communication technologies in the grid, has led to a growth in the demand for self-healing grid. China and Japan are expected to be the two largest markets for self-healing grid in the region in 2017. Government support for reliable power supply through minimizing the power outage in both countries will drive the self-healing grid market. Moreover, the market is also expected to grow significantly in countries such as India and South Korea during the forecast period. Factors such as enhancing the ability to optimize the energy allocation in the distribution network and integration of new power generation capacity from renewable energy resources are driving the self-healing grid market in India and South Korea.

Scope of the Report:

    By Application

·         Distribution lines

·         Transmission lines

    By Component

·         Hardware

·         Software & Services

    By End-user

·         Public Utility

·         Private Utility

    By Region

·         North America

·         Europe

·         Asia Pacific

·         Rest of the World

Public utility is expected to be the fastest-growing segment of the self-healing grid market from 2017 to 2022, owing to the significant efforts being made by the government to extend the services of public utilities. The grants by the governments will help in modernizing the grid. This will boost the market for self-healing grid. North America and Asia Pacific are the fastest-growing markets for public utility and offer various business opportunities for self-healing grid solution providers in the public utilities segment. Major European companies such as ABB (Switzerland) and Eaton (Ireland) are involved in providing complete self-healing grid solutions. In Asia Pacific, governments are focusing on increasing the contribution of renewable energy sources to meet the domestic electricity demand. This will increase the grid complexity, thereby driving the market of self-healing grid, which helps to minimize the grid complexity.  

Browse Research Report Summary With Complete TOC @ https://www.marketsandmarkets.com/Market-Reports/self-healing-grid-market-60620398.html

The hardware sub-segment is expected to be the fastest-growing market, by component, from 2017 to 2022. These hardware devices include both sensing as well as communication devices, which are an integral part of the distribution network helping to mitigate the losses occurring from power outage.  The increasing deployment of hardware component in self-healing grid will drive the hardware segment.

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. Shelly Singh

MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA : 1-888-600-6441

newsletter@marketsandmarkets.com

Global Trends in Power Quality Equipment Market Driven by Non-Uniform Power Quality and Network Reliability Issues

The power quality equipment market is expected to grow at a CAGR of 6.56%, from 2017 to 2022, to reach a market size of USD 40.85 billion by 2022. Non-uniform power quality and network reliability issues, rise in alternative energy programs, and power quality standardization are the major drivers of the power quality equipment market.

The power quality equipment market is dominated by a few major players that have a wide regional presence and are established brand names. The leading players in the power quality equipment market include ABB, Ltd. (Switzerland), Siemens AG (Germany), Schneider Electric SE (France), Emerson Electric Company (U.S.), Eaton Corporation Plc (Ireland), and General electric Company (U.S.). These companies have developed new products and implemented advanced production technology to bolster their product portfolios.

Don't miss out on business opportunities in power quality equipment market

https://www.marketsandmarkets.com/Market-Reports/power-quality-equipment-market-110225967.html

The report segments global market, by end–user, into industrial and manufacturing, utilities, transportation, residential, and commercial. The commercial segment is expected to grow at the fastest rate during the forecast period. Information technology initiative is being applied to vehicles and electrical machinery in order to enable remote diagnostics, remote maintenance, and remote data capture. This initiative has increased the need for datacenters, servers, and communication systems. As the demand for electronic equipment grows, the need for protection system also increases for continuous functioning of such critical equipment. Such initiatives are driving the market for power quality equipment in the commercial segment, which is expected to create new revenue pockets for the power quality equipment market during the forecast period.

With respect to the equipment segment, Solid Oxide Fuel Cells (SOFC) are expected to constitute the fastest growing market from 2017 to 2022. The rapidly growing demand for the SOFC market is driven by its ability to be used for various applications, fuel flexibility, and ability to utilize biomass efficiently. SOFCs can be used for developing portable, transportation, and stationary applications. For transportation, they are used to develop Auxiliary Power Units (APU); and military applications include portable batteries and other energy storage applications. They are also flexible when it comes to the type of fuel required as they can run on variety of fuel including natural gas, gasoline, diesel, and hydrogen.

The power quality equipment market in Asia-Pacific is expected to grow at the highest CAGR during the forecast period. A rise in investments in smart grid technologies and smart cities that include distribution grid automation, smart meters, and demand response systems in countries such as Japan, South Korea, and Australia would create opportunities for the power quality equipment market.

Increase in the number of data centers along with surge in IT hubs and commercial institutions such as banking facilities, healthcare units, and investments in distribution infrastructure is expected to drive the power quality equipment market in the region.

ABB, Ltd. is a leading power and automation technology company offering a wide range of products, services, and systems, namely, transformers, distribution automation products, high-voltage products, power transmission systems, grid integration systems, and others. The company operates in four segments, namely, power grids, electrification products, process automation, and discrete automation and motion. It offers power quality equipment under its electrification products division, which accounted for 26% of the company’s total net sales in 2016. The company has a wide array of products ranging from switches and sockets to robots, and from large transformers to control systems that manage entire power networks and factories.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=110225967

Eaton Corporation Plc is a power management company offering a wide range of products related to fuel-efficient systems and power chain management tools. The company operates in five business segments, namely, electrical products, electrical systems and services, vehicles, hydraulics, and aerospace. Eaton’s electrical business segment offers power distribution, power quality, control and automation, and monitoring products and services. The company offers power quality equipment through its electrical products division, which accounted for 35% of the company’s total net sales in 2016. The principal markets for these products are the industrial, institutional, governmental, utility, commercial, residential, and information technology sectors.

Browse more related reports –

Smart Transformers Market by Component (Converters, Switches, Transformers, Hardware for Transformer Monitoring), Type (Power, Distribution, Specialty, and Instrument), Application (Smart Grid, Traction Locomotive, Electric Vehicle Charging), and Region - Global Forecast to 2022

Distributed Control Systems Market by Industry (Oil & Gas, Chemicals, Power Generation, Metals and Mining, Pharmaceutical, Paper and Pulp, Food and Beverage), Component (Hardware, Software, Services), Application, and Region - Global Forecast to 2022

Surge Protection Devices Market by Type (Hard-Wired, Plug-In, and Line Cord), Discharge Current (Below 10 kA, 10 kA–25 kA, and above 25 kA), End-User (Industrial, Commercial, and Residential), and Region - Global Forecast to 2022