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
The overall submarine power cable market is estimated to grow from USD
8.12 Billion in 2018 to USD 16.56 Billion by 2023, at a CAGR of 15.32%.
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 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 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.
Key Topics Covered
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Submarine Power Cable Market, By Type
7 Submarine Power Cable Market, By Voltage
8 Submarine Power Cable Market, By Conductor Material
9 Submarine Power Cable Market, By End-User
10 Submarine Power Cable Market, By Region
11 Competitive Landscape
12 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/76mnch/global_submarine?w=4
View source version on businesswire.com: https://www.businesswire.com/news/home/20180710005626/en/