The global Submarine Power Cable market was valued at 56.79 Million USD in 2021 and will grow with a CAGR of 14.91% from 2021 to 2027, based on HNY Research newly published report.

The prime objective of this report is to provide the insights on the post COVID-19 impact which will help market players in this field evaluate their business approaches. Also, this report covers market segmentation by major market verdors, types, applications/end users and geography(North America, East Asia, Europe, South Asia, Southeast Asia, Middle East, Africa, Oceania, South America).

Submarine power cables are used to transmit electricity below the ocean, that is, deep under the sea bed. These cables are used to transfer electricity from offshore wind turbines, tidal power projects, and onshore locations to oil rigs as well as to transmit electricity across countries or islands. Countries such as the UK and Germany that generate huge amounts of renewable energy through wind turbines use submarine power cables to export it to neighboring countries having less energy generation capacity.The overall market is set to witness significant growth because of the increasing offshore wind installations, growing demand for inter-country and island connection, and demand from offshore oil & gas sector. Increasing demand for HVDC connections is one of the major opportunities for the Submarine Power Cable Market. The offshore wind power generation segment is expected to hold the largest share of the Submarine Power Cable Market during the forecast period. Growing investment in the renewable sector and technology advancements along with government initiatives are the major factors driving the Submarine Power Cable Market in Europe. New offshore wind generation capacity is under development in countries in Asia Pacific, especially China. These factors have resulted in the highest market share of the offshore wind power generation segment in the Submarine Power Cable Market.

By Market Verdors:

ABB

General Cable

Nexans

NKT Cables

Prysmian

By Types:

Single Core Cable

Multi Core Cable

By Applications:

Offshore Wind Power Generation

Inter-country and Island Connection

Offshore Oil Rigs

Key Indicators Analysed

Market Players & Competitor Analysis: The report covers the key players of the industry including Company Profile, Product Specifications, Production Capacity/Sales, Revenue, Price and Gross Margin 2016-2027 & Sales with a thorough analysis of the market’s competitive landscape and detailed information on vendors and comprehensive details of factors that will challenge the growth of major market vendors.

Global and Regional Market Analysis: The report includes Global & Regional market status and outlook 2016-2027. Further the report provides break down details about each region & countries covered in the report. Identifying its sales, sales volume & revenue forecast. With detailed analysis by types and applications.

Market Trends: Market key trends which include Increased Competition and Continuous Innovations.

Opportunities and Drivers: Identifying the Growing Demands and New Technology

Porters Five Force Analysis: The report provides with the state of competition in industry depending on five basic forces: threat of new entrants, bargaining power of suppliers, bargaining power of buyers, threat of substitute products or services, and existing industry rivalry.

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