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Submarine Power Cable Market 2019| Size, Growth, Status and Forecast by 2025

Author : Rahul Sankrityayan | Published Date : 2019-11-05 

Global Market Insights provides a detailed overview of Submarine Power Cable Market with respect to the pivotal drivers influencing the revenue graph of this business sphere. The current trends of Submarine Power Cable Market in conjunction with the geographical landscape, demand spectrum, remuneration scale, and growth graph of this vertical have also been included in this report.

With continuous developments in the offshore oil and gas sector along with groundbreaking subsea cable technologies, submarine power cable market is poised to witness a remarkable growth over the coming years. Today, several power suppliers and governments are shifting their preferences toward renewable energy sources like offshore wind power and even oil & gas companies are adopting new procedures to improve efficiency, reduce costs, and exploit new fields. Growing number of renewable energy projects and escalating penetration across other submarine applications will offer considerable boost to submarine power cable industry outlook.

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Expanding number of offshore wind farms and electrification of offshore oil and gas platforms has led to augmented research activities and tremendous progress has been made in quality of power cables. With the advent of subsea cables, it becomes extremely easy to connect oil platforms to mainland power grids. It also enables timely monitoring and surveillance to reinforce the business development and management of almost all activities in the ocean. Booming energy sector worldwide will immensely propel the revenue graph of submarine power cable industry from the demand of advanced and more reliable subsea cables.

A submarine power cable had been deployed recently between Montenegro and Italy under an investment of EUR 1.15 billion that will allow Montenegro to develop as an energy hub for the Balkan countries. The project has already fetched more than EUR 600 million for local businesses in Montenegro.

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LS Cable & System, a Korea-based industrial corporation and cable manufacturer, has inked an agreement in July 2019 worth $100 million worth with Orsted, a state energy firm from Denmark, to build a submarine power grid in Taiwan. The Taiwanese government is planning to invest nearly $23 billion to increase the volume of renewable energy generated in the country, from existing 5% to 20% by 2025. Growing number of submarine power grid projects will substantially impact submarine power cable industry trends.

In terms of geographical trends, European and North American electricity providers are shifting preferences towards integrating more offshore renewable energy sources such as wind and tidal wave installations. Submarine cables will allow the utility companies to transfer larger power flows over great distances with reduced rate of power loss. Deployment of subsea cables to strengthen conventional energy grids could also enhance the connection rate between nearby European offshore wind projects and the U.K. mainland electricity grid network.

Partial Table of Contents (ToC) of the report:

Chapter 4  Submarine Power Cable Market, By Core

4.1  Submarine power cable market share by core, 2018 & 2025

4.2  Single

4.2.1  Global market from single, 2014 - 2025

4.2.2  Global market from single, by region, 2014 - 2025

4.3  Multi Core

4.3.1  Global market from multi core, 2014 - 2025

4.3.2  Global market from multi core, by region, 2014 - 2025

Chapter 5  Submarine Power Cable Market, By Voltage

5.1  Submarine power cable market share by voltage, 2018 & 2025

5.2  Medium (> 66 kV)

5.2.1  Global market from medium, 2014 - 2025

5.2.2  Global market from medium, by region, 2014 - 2025

5.3  High (66 kV to 220 kV)

5.3.1  Global market from high, 2014 - 2025

5.3.2  Global market from high, by region, 2014 - 2025

5.4  Extra high (> 220 kV to 400 kV)

5.4.1  Global market from extra high, 2014 - 2025

5.4.2  Global market from extra high, by region, 2014 - 2025

5.5  Ultra-high (> 400 kV)

5.5.1  Global market from ultra-high, 2014 - 2025

5.5.2  Global market from ultra-high, by region, 2014 - 2025

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About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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