Global Submarine Power Cable Market to Experience Significant Growth in 2030, Driven by Offshore Wind Farms and Oil & Gas Operations

Dublin, July 24, 2023 (GLOBE NEWSWIRE) -- The "Global Submarine Power Cable Market - Forecast 2023-2030" report has been added to's offering.

The Global Submarine Power Cable Market on a global scale is expected to experience substantial growth, with a significant CAGR forecasted for the upcoming period. Regional revenue generation has been boosted by economic and significant infrastructure development.

The analysis of patterns related to domestic production, import and export, and consumption has enabled market participants to capitalize on potential opportunities. Furthermore, the accompanied qualitative and quantitative parameters in the report, including detailed analysis, have highlighted the market's driving and restraining factors.

Market Statistics:

The report provides market sizing and forecasts across 7 major currencies - USD, EUR, JPY, GBP, AUD, CAD, and CHF; multiple currency support helps organization leaders to make well-informed decisions. In this report, 2018 to 2021 are considered as historical years, 2022 is base year, 2023 is estimated year, and years from 2024 to 2030 are considered as forecast period.

FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Global Submarine Power Cable Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in a particular market space. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

The report provides insights on the following pointers:

  1. Market Penetration: Provides comprehensive information on the market offered by the key players
  2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
  3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
  4. Market Trends: Provides comprehensive understanding of the Cumulative Impact of COVID-19, the Russia-Ukraine Conflict, and the High Inflation
  5. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
  6. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:

  1. What is the market size and forecast of the Global Submarine Power Cable Market?
  2. What are the inhibiting factors and impact of COVID-19 shaping the Global Submarine Power Cable Market during the forecast period?
  3. Which are the products/segments/applications/areas to invest in over the forecast period in the Global Submarine Power Cable Market?
  4. What is the competitive strategic window for opportunities in the Global Submarine Power Cable Market?
  5. What are the technology trends and regulatory frameworks in the Global Submarine Power Cable Market?
  6. What is the market share of the leading vendors in the Global Submarine Power Cable Market?
  7. What modes and strategic moves are considered suitable for entering the Global Submarine Power Cable Market?

Market Dynamics


  • Growing number of offshore wind farms
  • Increasing growth of offshore oil & gas operations
  • High use of high voltage direct current (HVDC) submarine power cables


  • High cost of installation and complexity in the repair


  • Rising need for inter-country & island power connections
  • Design improvements and advancements in submarine power cables


  • Regulatory, environmental, & complex authorization procedures

Companies Mentioned

  • ABB Limited
  • Fujitsu Limited
  • Furukawa Electric Co., Ltd.
  • General Cable Inc. by Norddeutsche Seekabelwerke GmbH
  • Hengtong Group Co., Ltd.
  • Hydro Group
  • KEI Industries Limited
  • LS Cable & System Ltd.
  • Nexans SA
  • Ningbo Orient Wires & Cables Co., Ltd.
  • NKT A/S
  • Prysmian S.p.A.
  • Sumitomo Electric Industries Limited
  • TELE-FONIKA Kable S.A.
  • ZTT International Limited

Market Segmentation & Coverage:

This research report categorizes the Global Submarine Power Cable Market in order to forecast the revenues and analyze trends in each of following sub-markets:

  • Based on Type, the market is studied across Multicore and Single Core. The Single Core is projected to witness significant market share during forecast period.
  • Based on Conductor Material, the market is studied across Aluminum and Copper. The Copper is projected to witness significant market share during forecast period.
  • Based on End-User, the market is studied across Inter-Country & Island Connection, Offshore Oil & Gas, and Offshore Wind Power Generation. The Inter-Country & Island Connection is projected to witness significant market share during forecast period.
  • Based on Region, the market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Americas is projected to witness significant market share during forecast period.

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