Submarine Power Cables Market is Estimated to Reach USD 19.57 Billion in 2024

The global submarine power cables market is estimated to reach USD 19.57 Billion in 2024 at a CAGR of 12.7%. Increasing adoption of offshore wind farms, growing demand for renewable grid connections, and expanding offshore oil and gas platforms are expected to drive the market during the forecast period. However, authorization process of the project and initial installation cost of the product is expected to restrain the market during the forecast period.

The Global Submarine Power Cables Market is estimated to reach USD 19.57 Billion in 2024 at a CAGR of 12.7%. Predicts Forencis Research.


Submarine power cable is a type of transmission cable which carry electronic power below the surface of the water. They are called submarine power cable because they usually carry electric power beneath salt water and many other water sources. For the transmission of electric power through submarine power cables, direct current (DC) is preffered because DC cables requires low reactive power than submarine AC cables. Some key players in submarine power cables market are Nexans SA, The Prysmian Group, Furukawa Electric Co Ltd, NKT A/S, and HENGTONG GROUP CO. LTD among others.

Submarine Power Cables Market: Segmentation
This market research report offers a comprehensive analysis of key market trends in the global market. It includes detailed discussion on historical market trends, current market dynamics, consumer landscape, growth opportunities and challenges backed by factful feedbacks. On the basis of type, the market is segmented into high voltage alternating current (HVAC) and high voltage direct current (HVDC). By material, the global market is segmented into conductor and insulator. On the basis of voltage, the market is segmented into medium (> 66 kV), high (66 kV to 220 kV), extra high (> 220 kV to 400 kV), and ultra-high (> 400 kV). By core the market is segmented into single core and multi-core. By end use industry, the global market is segmented into offshore renewable power generation, island and intercountry connections, and oil and gas.

Submarine Power Cables Market: Report Scope
The report on the submarine power cables market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.

List of the leading companies operating in the Submarine Power Cables Market include:
• Nexans SA (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
• The Prysmian Group
• Furukawa Electric Co Ltd
• Intertek Group plc
• HENGTONG GROUP PVT LTD
• Sumitomo Electric Industries, Ltd
• Hydro Group Plc
• NKT A/S
• ZTT
• TFKable
• Other Key Companies

Submarine Power Cables Market: Report Segmentation
For the scope of report, In-depth segmentation is offered by Forencis Research
Submarine Power Cables Market by Type
• High voltage alternating current (HVAC)
• High voltage direct current (HVDC)

Submarine Power Cables Market, by Material
• Conductor
• Insulator

Submarine Power Cables Market, by Voltage
• Medium (> 66 kV)
• High (66 kV to 220 kV)
• Extra high (> 220 kV to 400 kV)
• Ultra-high (> 400 kV)

Submarine Power Cables Market, by Core (Qualitative Chapter)
• Single Core
• Multi-Core

Submarine Power Cables Market by, End-Use Industry
• Offshore renewable power generation
• Island and Intercountry Connections
• Offshore Oil and Gas

Submarine Power Cables Market by Region
• Asia-Pacific (China, Japan, South Korea, India, Taiwan, Rest of Asia-Pacific)
• North America (US, Canada, Mexico)
• Europe (Germany, Russia, France, Italy, UK, Spain, The Netherlands, Rest of Europe)
• Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East & Africa)
• South America (Brazil, Argentina, Rest of South America)

Key Questions answered by the report
• What are the major developments impacting the global market and its growth?
• What will be the effects of the developments in the global market on the industry and on the market players in the near and far future?
• What are the evolving types of the global market?
• What are the evolving applications of global market?
• What are the major characteristics that will affect the global market growth during the study period?
• Who are the key players operating in the global market?
• How are the major players leveraging in the existing market conditions?

About Forencis Research
Forencis Research is a B2B market research, intelligence and advisory firm engaging in market research and consulting services across leading industries, globally. Our robust and meticulous research team provides high growth and niche syndicated reports, customized reports and consulting reports to the diverse global fortune clientele and intellectual institutions. Forencis Research database is a constantly evolving pool of reports and white paper studies which helps companies to foster accelerated revenue growth in global and regional markets. Forencis Research delivers market research and consulting reports on high growth markets to help companies dominate their competition and set themselves apart by attaining increased revenue growth. To enable exclusive insights around the target market, Forencis Research employs robust research Methodology & Design which includes data acquisition, data synthesis and data correlation, through Primary and Secondary Research. Through the obtained data, Top-down and bottom-up methods are exercised to attain and verify data sanity within the entire market. This market data is yet again correlated with Forencis Research's internal database before presenting it in any of our final publications. These methods of data correlation and amalgamation benefit us to put forward accurate market estimates enabling our clients to transform their business, markets and most importantly their "REVENUES".

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