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Submarine Power Cable Market : Key Growth Factor, Industry Analysis 2019 – 2025

Author : Rahul Sankrityayan | Published Date : 2019-09-10 

Global Market Insights adds global Submarine Power Cable Market Market report which focuses on the major drivers and restraints for the key players. It also provides analysis of the market share, segmentation, revenue forecasts and geographic regions of the market.

Europe submarine power cable market in 2018 valued over USD 2.5 billion. The industry is positively influenced by ongoing developments toward an efficient transmission infrastructure coupled with increasing energy demand from emerging nations. In 2018, according to IEA, the global energy demand witnessed an upsurge of 4% which in turn pave a favorable industry foundation. Stringent regulatory norms owing to efficient power supply along with growing cross-border power trade will further drive the business dynamics.

Get sample copy of this research report @ https://www.gminsights.com/request-sample/detail/3396

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

 ZTT

 Nexans

 Kelani cables

 KEI Industries

 Prysmian

 Furukawa

 NKT

 LS Cable & Systems

 TF Kable

 Sumitomo Electric

 ABB

 Intertek Group ZTT

 Nexans

 Kelani cables

 KEI Industries

 Prysmian

 Furukawa

 NKT

 LS Cable & Systems

 TF Kable

 Sumitomo Electric

 ABB

 Intertek Group

Submarine Power Cable Market in 2018 valued over USD 1.5 billion and is predicted to exceed an annual installation of 2'500 km by 2025. Rapid expansion of offshore wind farms along with rising deployment of offshore oil & gas establishments will drive the technological adoption. Ongoing fund allocation from private & government players favored by stringent regulatory schemes to establish an energy efficient operational environment will augment the business potential. Moreover, increasing intercountry transmission network for subsea electricity supply has incorporated a positive industry outlook.

Ongoing installation of offshore wind turbines has strengthened the demand for multi-core power cables. In addition, easy installation owing to efficient product configurations and short route electricity supply with minimal losses will stimulate the business growth. Incorporation of enhanced cable laying technologies & procedures along with specific directives for line burial have further escalated the product adoption.

Large-scale deployment along with low installation cost across offshore wind farm platforms have positively influenced the demand for MV cables. Although, these lines incur high maintenance cost and transmission losses when compared high voltage lines. However, increasing dependence on sustainable electricity generation technologies in line with government initiatives & reforms to build an energy efficient operational environment will escalate the industry growth.

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Versatile product configuration, ease of installation along with lower material cost in comparison to copper wires are the key factors favoring the installation of aluminum wires. Furthermore, longer life span, minimal transmission losses coupled with low maintenance cost are few indispensable parameters driving the product demand.

Submarine power cable market is favored by various government initiatives including incentives, subsidies and leveraging schemes along with rising government fund flow to infuse an energy efficient environment. According to IEA, growing offshore oil & gas production will increase fund allocation in offshore wind turbines propelling the business dynamics. In addition, paradigm shift towards the sustainable power generation coupled with rising installation of offshore wind farms globally will energize the industry potential.

Eminent submarine power cable market participants include: Sumitomo Electric, Ningbo Orient Wires & Cables, Intertek group, Hentong Marine Cable Systems, Kelani Cables, ABB, LS Cable & Systems, TF Kable, NKT, KEI industries, Nexans, Furukawa Electric, ZTT and Prysmian group.

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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