Source: Research and Markets

Global $16.56 Bn Submarine Power Cable Market Report 2018-2023: Leading Players are Prysmian, Nexans, NKT, General Cable and Sumitomo

Dublin, July 12, 2018 (GLOBE NEWSWIRE) -- The "Submarine Power Cable Market, By Type (Single, Multicore), Voltage, Conductor Material (Copper, Aluminum), End-User (Offshore Wind Power Generation, Inter-Country & Island Connection, Offshore Oil & Gas) & Region-Global Forecast To 2023" report has been added to ResearchAndMarkets.com's offering.

The submarine power cable market is projected to grow at a CAGR of 15.32%, from 2018 to 2023.

The increasing demand from the offshore wind industry, along with demand from intercountry & island connections, have boosted the demand for submarine power cables. Also, the increasing deployment of submarine power cables in the offshore oil & gas sector would further aid the growth of this market. The high cost of installation and complex regulatory authorization procedures would act as a restraint for the submarine power cable market.

The single core segment is expected to grow at the highest CAGR, from 2018 to 2023.

The single core segment is expected to be the fastest-growing submarine power cable market, by type, from 2018 to 2023. It is considered to be the ideal cable type for submarine power cables. Single core submarine power cables are more suitable to cover longer distance as these cables experience lower reverse current when compared to multicore cables. Thus, application-based demand is high for this particular cable type, resulting in higher market share. The demand for single core submarine power cables is also driven by the increasing HVDC interconnections in Europe, Asia Pacific, and North America.

The high voltage segment is expected to dominate the submarine power cable market from 2018 to 2023.

The high voltage segment is estimated to be the largest market for submarine power cables in 2018. The market for the high voltage segment is driven by increasing number of grid interconnections and offshore wind projects, which require high-capacity cables for transmitting power over a long distance.

Europe: The largest market for submarine power cable

Europe is expected to be the largest market for submarine power cables in 2018, followed by Asia Pacific and North America. UK and Germany are expected to be the largest markets for submarine power cables in the region because of significant investments being made in the offshore wind sector.

The submarine power cable market is also expected to grow at a good pace in countries such as India, China, Taiwan and South Korea, because of new capacity additions in the offshore wind industry that are planned during the forecast period. These factors are expected to boost the growth of the submarine power cable market in Asia Pacific.

Leading players in the submarine power cable market include Prysmian (Italy), Nexans (France), NKT (Denmark), General Cable (US), and Sumitomo (Japan).

Key Topics Covered

1 Introduction
1.1 Objectives of the Study
1.2 Definition
1.3 Market Scope
1.3.1 Market Segmentation
1.3.2 Regional Scope
1.4 Years Considered for the Study
1.5 Currency
1.6 Limitations
1.7 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primaries
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Market Breakdown & Data Triangulation
2.4 Assumptions

3 Executive Summary

4 Premium Insights
4.1 Submarine Power Cable Market, By Country
4.2 Submarine Power Cable Market, By Conductor Type
4.3 Submarine Power Cable Market, By Type
4.4 Submarine Power Cable Market, By Voltage
4.5 Submarine Power Cable Market, By End-User
4.6 Europe Submarine Power Cable Market

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Number of Offshore Wind Farms
5.2.1.2 Increasing Demand for Inter-Country & Island Power Connections
5.2.1.3 Demand From Offshore Oil & Gas Operations
5.2.2 Restraints
5.2.2.1 High Cost of Installation and Complexity in the Repair of Deepwater Cables
5.2.2.2 Regulatory, Environmental, & Complex Authorization Procedures Leading to Delays
5.2.3 Opportunity
5.2.3.1 Increasing Demand for High Voltage Direct Current (HVDC) Submarine Power Cables
5.2.4 Challenges
5.2.4.1 Technical Challenges Regarding Implementation and Installation
5.2.4.2 Damages Caused to Cables By Human Interventions

6 Submarine Power Cable Market, By Type
6.1 Introduction
6.2 Single Core
6.3 Multicore

7 Submarine Power Cable Market, By Voltage
7.1 Introduction
7.2 Medium Voltage
7.3 High Voltage

8 Submarine Power Cable Market, By Conductor Material
8.1 Introduction
8.2 Copper
8.3 Aluminum

9 Submarine Power Cable Market, By End-User
9.1 Introduction
9.2 Offshore Wind Power Generation
9.3 Inter-Country & Island Connection
9.4 Offshore Oil & Gas

10 Submarine Power Cable Market, By Region
10.1 Introduction
10.2 Europe
10.2.1 By Type
10.2.2 By Voltage
10.2.3 By Conductor Material
10.2.4 By Country
10.2.4.1 UK
10.2.4.2 Germany
10.2.4.3 Denmark
10.2.4.4 Netherlands
10.2.4.5 Norway
10.2.4.6 Rest of Europe
10.3 Asia Pacific
10.3.1 By Type
10.3.2 By Voltage
10.3.3 By Conductor Material
10.3.4 By Country
10.3.4.1 China
10.3.4.2 Japan
10.3.4.3 South Korea
10.3.4.4 Malaysia
10.3.4.5 Indonesia
10.3.4.6 Rest of Asia Pacific
10.4 North America
10.4.1 By Type
10.4.2 By Voltage
10.4.3 By Conductor Material
10.4.4 By Country
10.4.4.1 US
10.4.4.2 Canada
10.4.4.3 Mexico
10.5 Middle East & Africa
10.5.1 By Type
10.5.2 By Voltage
10.5.3 By Conductor Material
10.5.4 By Country
10.5.4.1 Saudi Arabia
10.5.4.2 UAE
10.5.4.3 Angola
10.5.4.4 Rest of the Middle East & Africa
10.6 South America
10.6.1 By Type
10.6.2 By Voltage
10.6.3 By Conductor Material
10.6.4 By Country
10.6.4.1 Brazil
10.6.4.2 Argentina
10.6.4.3 Rest of South America

11 Competitive Landscape
11.1 Introduction
11.2 Market Share Analysis
11.3 Competitive Scenario
11.3.1 Contracts & Agreements
11.3.2 Expansions & Investments
11.3.3 New Product Launches
11.3.4 Collaborations & Partnerships
11.3.5 Mergers & Acquisitions

12 Company Profiles
12.1 Benchmarking
12.2 Prysmian
12.3 Nexans
12.4 General Cable Corporation
12.5 NKT
12.6 Sumitomo Electric
12.7 Furukawa Electric
12.8 ZTT
12.9 KEI Industries
12.10 LS Cable & System
12.11 Tele-Fonika Kable
12.12 Hydro Group
12.13 Hengtong Group

For more information about this report visit https://www.researchandmarkets.com/research/8w7698/global_16_56_bn?w=12

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Related Topics: Wire and Cables, Electricity