Submarine Power Cable Market | Size, Share, Growth | 2025 - 2030
Published: 2024 - January
Report Code: IM-6901
Format:
Region: Global
What are Submarine Power Cables?
Submarine power cables are essential components in the transmission of electrical power across underwater distances, primarily for offshore wind farms, oil & gas platforms, and subsea power connections. These high-performance cables facilitate the efficient transmission of electricity under the seabed, connecting remote energy generation sites to shore-based power grids.
The submarine power cable market is experiencing a disruptive shift driven by the global transition toward renewable energy, particularly offshore wind projects. These advancements create new opportunities for cost-effective and scalable power solutions. The need for secure and efficient energy transmission is also heightened by the rising demand for cleaner energy sources, making the sector both innovative and essential. Companies within this space offer increasingly sophisticated cables that are more resilient, easier to deploy, and safer to operate, fostering significant growth.
Market Size:
Submarine Power Cables Market was valued at USD 14.41 billion in 2024 and is projected to reach a market size of USD 28.14 billion by 2030 at a CAGR of 11.8%.
Key Market Players
• Sumitomo Electric Industries
• KEI Industries Limited
• Tele Fonika Kable SA
• Prysmian S.p.A
• Nexans
• NKT A/S
• LS Cable & System Ltd.
• Furukawa Electric Co., Ltd.
• ZTT
• Taihan Cable & Solution Co., Ltd.
Case Study:
Prysmian S.p.A’s installation of submarine power cables for offshore wind farms highlights the company’s leadership in providing highly durable and efficient solutions.
Market Dynamics & Popularity:
Submarine Power Cable market sees growth from offshore wind projects, regulatory support, and technological advancements.
Market Segmentation:
By Type
• AC (Alternating Current) Submarine Power Cable
• DC (Direct Current) Submarine Power Cable
By End User
• Offshore Wind Power
• Oil & Gas Industry
• Power Utilities
• Industrial Applications
• Subsea Mining and Resource Extraction
What’s in It for You?
• Access to in-depth market analysis to guide strategic investments.
• Insights into the latest technological innovations in submarine cable systems.
• Identification of key trends shaping offshore wind energy and subsea power networks.
• Competitive intelligence and market share insights for informed decision-making.
• Opportunities to identify gaps in the market for new product development and partnerships.
Chapter 1. SUBMARINE POWER CABLE MARKET – Scope & Methodology
1.1. Market Segmentation
1.2. Assumptions
1.3. Research Methodology
1.4. Primary Sources
1.5. Secondary Sources
Chapter 2. SUBMARINE POWER CABLE MARKET – Executive Summary
2.1. Market Size & Forecast – (2023 – 2030) ($M/$Bn)
2.2. Key Trends & Insights
2.3. COVID-19 Impact Analysis
2.3.1. Impact during 2023 - 2030
2.3.2. Impact on Supply – Demand
Chapter 3. SUBMARINE POWER CABLE MARKET – Competition Scenario
3.1. Market Share Analysis
3.2. Product Benchmarking
3.3. Competitive Strategy & Development Scenario
3.4. Competitive Pricing Analysis
3.5. Supplier - Distributor Analysis
Chapter 4. SUBMARINE POWER CABLE MARKET - Entry Scenario
4.1. Case Studies – Start-up/Thriving Companies
4.2. Regulatory Scenario - By Region
4.3 Customer Analysis
4.4. Porter's Five Force Model
4.4.1. Bargaining Power of Suppliers
4.4.2. Bargaining Powers of Customers
4.4.3. Threat of New Entrants
4.4.4. Rivalry among Existing Players
4.4.5. Threat of Substitutes
- Chapter 5. SUBMARINE POWER CABLE MARKET - Landscape
5.1. Value Chain Analysis – Key Stakeholders Impact Analysis
5.2. Market Drivers
5.3. Market Restraints/Challenges
5.4. Market Opportunities
Chapter 6. SUBMARINE POWER CABLE MARKET – By Type
6.1. Single Core
6.2. Multicore
Chapter 7. SUBMARINE POWER CABLE MARKET – By Voltage
7.1. Medium Voltage
7.2. High Voltage
Chapter 8. SUBMARINE POWER CABLE MARKET – By End User
8.1. Offshore Wind Power Generation
8.2. Inter-Country and Island Connection
8.3. Offshore Oil & Gas
Chapter 9. SUBMARINE POWER CABLE MARKET – By Region
9.1. North America
9.2. Europe
9.3. Asia-P2acific
9.4. Latin America
9.5. The Middle East
9.6. Africa
Chapter 10. SUBMARINE POWER CABLE MARKET – By Companies
10.1. Companies 1
10.2. Companies 2
10.3. Companies 3
10.4. Companies 4
10.5. Companies 5
10.6. Companies 6
10.7. Companies 7
10.8. Companies 8
10.9. Companies 9
10.10. Companies 10
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