Dublin, Feb. 16, 2022 (GLOBE NEWSWIRE) -- The "Submarine Cable Systems Market by Application (Communication Cable and Power Cable), Component (Dry Plant Products and Wet Plant Products) Offering, Voltage, Type (Single Core and Multicore), insulation, End User and Geography - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The submarine cable system market is projected to reach USD 22,747.8 million by 2026 from USD 13,807.4 million in 2021; it is expected to grow at a CAGR of 10.5% from 2021 to 2026.
Submarine power cables are widely used to link shore-based power grids. These cables carry power from one country to another, as well as from one offshore installation to another, and transfer power from offshore renewable energy generation plants, which use wind, wave, and tidal energy for electricity generation to other installations, consumers, regional electrical transmission networks, etc.
By insulation type, the market for Oil-Impregnated Paper (OIP) segment is expected to hold largest share during the forecast period
OIP-insulated submarine power cables offer high voltage insulation and are usually employed for high-voltage DC transmission. These are also called mass-impregnated cables and are sustainable for the environment. This insulation type is the go-to for insulation for submarine power interconnectors, as it is suited for long-distance transmissions at extreme depths.
The offshore wind power generation segment is expected to grow at the highest CAGR of the submarine power cable systems market during the forecast period.
Increase in use of submarine power cables for long-distance power transmission by offshore wind power generation plants is expected to fuel the demand for submarine power cables for offshore wind power generation during the forecast period.
Asia Pacific region is expected to hold the largest share of the submarine power cable systems market during the forecast period.
Planned investment for using renewable power sources in China, advanced research and development activities in Japan, and related government initiatives in Asian countries are expected drive the regions revenue generation from submarine power cable systems market.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
3.1 Growth Rate Assumptions/Growth Forecasts
3.2 Pre-COVID-19 Scenario
3.3 Post-COVID-19 Scenario
4 Premium Insights
4.1 Attractive Growth Opportunities in Submarine Cable Systems Market
4.2 Submarine Cable System Market, by Application
4.3 Submarine Communication Cable Market, by Component
4.4 Submarine Power Cable Market, by Insulation
4.5 Submarine Power Cable Market, by End-user & Region, 2021
4.6 Submarine Power Cable Market, by Country
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Expanding Offshore Wind Power Capacity
5.2.1.2 Increasing Penetration of Internet and Collaborations Among Tier-1 Vendors
5.2.1.3 Growing Demand for Bandwidth due to Emergence of 5G
5.2.1.4 Growing Demand in Pacific Region Owing to Increased Traffic
5.2.1.5 Increasing Network of Submarine Power Cable Systems
5.2.2 Restraints
5.2.2.1 High Initial Investments Act as Entry Barrier for Smes
5.2.2.2 Involvement of Multi-Country Government Bodies Leads to Complexities and Delays in Approvals
5.2.3 Opportunities
5.2.3.1 Upcoming Projects in Europe
5.2.3.2 Increasing Investments by Content Delivery and Streaming Partners to Create Opportunities in Pacific
5.2.4 Challenges
5.2.4.1 Scarcity of Commissioning and Repair Vessels
5.2.4.2 Alternative Modes of Internet Service Provisioning
5.3 Value Chain Analysis
5.4 Ecosystem Analysis
5.5 Pricing Analysis
6 Submarine Cable Systems Market, by Application
6.1 Introduction
6.2 Communication Cables
6.2.1 Increasing Demand for High-Capacity Communication Infrastructure Leading to Rise in Global Demand for Submarine Communication Cables
6.3 Power Cables
6.3.1 Increasing Offshore Wind Farm Installations to Contribute to Demand for Submarine Power Cables Globally
7 Submarine Communication Cable Market, by Component
7.1 Introduction
7.2 Dry Plant Products
7.2.1 Submarine Line Terminal Equipment
7.2.2 Submarine Line Monitors (Slm)
7.2.3 Power Feeding Equipment (Pfe)
7.2.4 Wet Plant Products
7.2.4.1 Repeaters
7.2.4.2 Branching Units (Bu)
7.2.4.3 Cables
7.2.4.4 Others
8 Submarine Communication Cable Market, by Offering
8.1 Introduction
8.2 Installation & Commissioning
8.2.1 Installation & Commissioning Segment to Witness Highest Growth Rate in EMEA
8.3 Maintenance
8.3.1 Transatlantic Region to Account for Largest Share of Submarine Communication Cable Market for Maintenance
8.4 Upgrades
8.4.1 Upgrades Segment to Grow at Highest CAGR from 2021 to 2026
9 Submarine Power Cable Market, by Type
9.1 Introduction
9.2 Single Core
9.2.1 Single Core Segment to Lead Submarine Power Cable Market from 2021 to 2026
9.3 Multicore
9.3.1 Multicore Cables Have Reduced Installation Costs as They Lay Complete Circuit in One Trench
10 Submarine Power Cable Market, by Insulation Type
10.1 Introduction
10.2 Cross-Linked Polyethylene (Xlpe)
10.3 Oil-Impregnated Paper (Oip)
10.4 Resin-Impregnated Paper (Rip)
10.5 Resin-Impregnated Synthetics (Ris)
10.5.1 an Emerging Technology Expected to Gain Sizable Traction in Coming Decade
11 Submarine Power Cable Market, by Voltage
11.1 Introduction
11.2 Medium Voltage
11.2.1 Europe Held Largest Share of Medium-Voltage Submarine Power Cable Market in 2020
11.3 High Voltage
11.3.1 Low Transmission Losses Offered by High-Voltage Submarine Power Cables Boost Their Global Demand
12 Submarine Power Cable Market, by End-user
12.1 Introduction
12.2 Offshore Wind Power Generation
12.2.1 Increase in Use of Submarine Power Cables for Long-Distance Power Transmission by Offshore Wind Power Generation Plants
12.3 Intercountry & Island Connection
12.3.1 Improved Power Supply to Islands and Upgrades to Existing Networks Leading to Growth of Intercountry & Island Connection Segment
12.4 Offshore Oil & Gas
12.4.1 Increasing Subsea Operations and Deepwater Drilling Activities are Driving Submarine Power Cable for Offshore Oil & Gas
13 Geographic Analysis of Submarine Power Cable Market
14 Geographic Analysis of Submarine Communication Cable Market
15 Competitive Landscape
15.1 Overview
15.2 Revenue Analysis
15.3 Market Share Analysis (2020)
15.4 Market Share Analysis for Submarine Optical Fiber Cable Market (2020)
15.4.1 Top 5 Companies and Countries in Submarine Optical Fiber Cable Ecosystem
15.5 Company Evaluation Quadrant, 2020
15.5.1 Star
15.5.2 Pervasive
15.5.3 Emerging Leader
15.5.4 Participant
15.6 Competitive Scenario and Trends
16 Company Profiles
16.1 Key Players
16.1.1 Alcatel-Lucent (Nokia)
16.1.2 Prysmian Group
16.1.3 Subcom
16.1.4 Nec Corporation
16.1.5 Nexans
16.2 Other Players
16.2.1 Google Cloud Products
16.2.2 Saudi Ericsson
16.2.3 Hengtong
16.2.4 Ztt
16.2.5 Nkt
16.2.6 Corning Inc.
16.2.7 The Okonite Company
16.2.8 Apar Industries
16.2.9 Afl
16.3 Innovators
16.3.1 Tele-Fonika Kable (Tf Kable)
16.3.2 Hexatronic
16.3.3 Jdr Cable Systems Ltd.
16.3.4 Cablel Hellenic Cables Group
16.3.5 Ocean Specialists, Inc
16.3.6 Ssg Cable
16.3.7 Occ Corporation
16.3.8 1X Technologies LLC
16.3.9 Tratos
16.3.10 General Cable
16.3.11 Sumitomo Electric Industries, Ltd.
17 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/wuadxn
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