The size of Submarine Power Cable Market demand was anticipated as 1.5 billion in the year 2018 and is predicted to touch 3 billion till 2025, as per the research done by Global Market Insights, Inc.
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.
Pages: 390
Tables: 719
Charts / Figures: 26
Companies covered: 14
Countries covered: 30
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. Such developments would create abundant opportunities for oil & gas companies and other suppliers, attracting significant investments in the energy sector, for renewable sources and digitization. The surge in installation of submarine electrical cables to supply power and emergence of more advanced techniques will thrust global submarine power cable market share.
Browse key industry insights spread across 390 pages with 719 market data tables & 26 figures & charts from the report, “Submarine Power Cable Market Size By Core (Single, Multi Core), By Voltage (Medium {> 66 kV}, High {66 kV to 220 kV}, Extra High {> 220 kV to 400 kV}, Ultra High {> 400 kV}), By Conductor (Copper, Aluminum), By End User (Offshore Windfarm, Offshore Oil & Gas Production), Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Germany, Italy, France, UK, Spain, Greece, Norway, Denmark, Ireland, Belgium, China, India, Australia, Japan, Vietnam, Malaysia, Philippines, Taiwan, Qatar, UAE, Bahrain, Libya, Cyprus, Tunisia, Brazil, Chile, Argentina), Price Trends, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
Over the past decade, novel technologies are being utilized to perform better maintenance and repair of underwater cables for reducing the overall cost of operations in the offshore energy segment. Oil companies are extensively using high-speed fiber networks to vastly enhance their remote field operations, improve field safety records and to take full advantage of real-time information. Operators are rapidly gaining installation expertise in ultra-deep waters and are aiming to advance the array of energy and telecom cables for offshore production. Increasing adoption of such products will considerably influence submarine power cable industry outlook.
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.
The EuroAsia submarine High Voltage Direct Current (HVDC) cable is one of the largest submarine power cable lines in the world which connects the Greek, Cypriot, and Israeli power grids with 2000 MW power capacity. These kind of project will open up substantial prospects for submarine power cable suppliers in the ensuing years. Prominent reports inform that in 2018, Europe submarine power cable market had generated a revenue of more than USD 2.5 billion.
Owing to widespread implementation of pioneering energy transfer technologies, there would be promising growth prospects for offshore wind farms over the forecast period and subsequent need for power transmission. Eminent players offering reliable subsea cable products include Sumitomo Electric, LS Cable & Systems, Nexans, KEI Industries, Prysmian, Furukawa, TF Kable, Ningbo Orient wires, Sumitomo Electric, ABB, Intertek Group, and Hengtong Marine Cable Systems. Global Market Insights, Inc. has projected that global submarine power cable market size will surpass USD 3 billion in annual valuation by 2025.
Partial Table of Contents (ToC) of the report:
Report Content
Chapter 1 Methodology & Scope
1.1 Methodology
1.2 Market definitions & abbreviations
1.2.1 Definitions
1.2.2 Abbreviations
1.3 Market estimates and forecast parameters
1.4 Data Sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Submarine power cable market 3600 synopsis, 2014 – 2025
2.1.1 Business trends
2.1.2 Core trends
2.1.3 Voltage trends
2.1.4 End user trends
2.1.5 Conductor trends
2.1.6 Regional trends
Chapter 3 Industry segmentation
3.1 Industry segmentation
3.2 Industry landscape, 2014 – 2025 (USD Million)
3.3 Industry ecosystem analysis
3.3.1 Vendor matrix
3.4 Regulatory landscape
3.4.1 The Exclusive Economic Zone and Continental Shelf Laws of 2004 and 2014
3.4.1.1 Procedure for examination of the application
3.4.1.2 Regulations and Regulatory Issues
3.4.1.3 Standards
3.4.1.4 Electrical Specification
3.4.1.5 Mechanical Specification
3.4.2 North America
3.4.2.1 Federal Regulations
3.4.3 Europe
3.4.3.1 UK
3.4.3.2 Cable Laying
3.4.3.3 Wind:
3.4.3.3.1 Operation and Maintenance
3.4.3.3.2 Decommissioning:
3.4.3.3.3 Marine Licence - Dredging:
3.4.3.3.4 Marine Licence - Disposal:
3.4.3.3.5 Marine Licence - Exemption:
3.4.3.3.6 Marine Works – Environmental Impact Assessment:
3.4.3.3.7 Water Framework Directive:
3.5 Innovation & technology landscape
3.5.1 Sumitomo Electrics
3.5.2 Prysmian Group
3.5.3 FMGC
3.5.4 Borouge and Borealis
3.6 Price trend analysis
3.7 Key projects undertaken by leading manufacturers
3.8 Industry impact forces
3.8.1 Growth drivers
3.8.1.1 Increasing deployment of offshore wind farms
3.8.1.2 Increasing demand for inter-country & island power connections
3.8.1.3 Demand from offshore oil & gas operations
3.8.2 Industry pitfalls & challenges
3.8.2.1 High Cost of Installation and Complexity in the Repair of Deepwater Cables
3.8.2.2 Regulatory, Environmental, & Complex Authorization Procedures Leading to Delays
3.9 Growth potential analysis
3.10 Porters analysis
3.11 Competitive landscape, 2018
3.11.1 Strategy dashboard
3.11.1.1 ZTT Group
3.11.1.1.1 Project Launch
3.11.1.1.2 ZTT & Demirer Kablo
3.11.1.1.3 ZTT in Bangladesh
3.11.1.1.4 ZTT in South Australia
3.11.1.1.5 ZTT in Canada
3.11.1.2 Prysmian Group
3.11.1.2.1 Prysmian Group acquired General Cable
3.11.1.2.2 Prysmian Group & Visiotalent
3.11.1.2.3 Prysmian Group in Claremont
3.11.1.2.4 Prysmian Group expansion
3.11.1.3 Nexans
3.11.1.3.1 Product Launch
3.11.1.3.2 Awards
3.11.1.4 NTK
3.11.1.4.1 Awards
3.11.1.4.2 NKT & Norwegian Offshore Oil and Gas Field
3.11.1.4.3 Project Consortium
3.11.1.4.4 Agreements
3.11.1.4.5 Project Upgrade
3.11.1.4.6 Project Launch
3.11.1.5 ABB
3.11.1.5.1 Joint Venture
3.11.1.5.2 Project Launch
3.11.1.5.3 Acquisition and Mergers
3.11.1.5.4 Project Launch
3.12 PESTEL analysis
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
Chapter 6 Submarine Power Cable Market, By End User
6.1 Submarine power cable market share by end user, 2018 & 2025
6.2 Offshore Wind Power Generation
6.2.1 Global market from offshore wind power generation, 2014 - 2025
6.2.2 Global market from offshore wind power generation, by region, 2014 - 2025
6.3 Inter Country & Island Connector
6.3.1 Global market from inter country & island connector, 2014 - 2025
6.3.2 Global market from inter country & island connector, by region, 2014 - 2025
6.4 Offshore Oil & Gas
6.4.1 Global market from offshore oil & gas, 2014 - 2025
6.4.2 Global market from offshore oil & gas, by region, 2014 - 2025
Browse complete table of content of this report @ https://www.gminsights.com/toc/detail/submarine-power-cable-market
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