Global Submarine Power Cables Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2022-2027 - (By Type Coverage, Conductor Coverage, Voltage Coverage, End-user Coverage, By Geography, Leading Companies)
Published Date: Jul 2022 |
Format:
| No. of Pages: 114
Industry: Energy & Natural Resources | Author Name: Harshad
Global submarine power cables market is anticipated to reach US$11.2 Bn by 2027
The top five players in submarine power cables market include: Sumitomo, Prysmian Group, Nexans, ZTT, and The Furukawa Electric Co., Ltd.
In 2021, Europe constituted 55.7% of the global submarine power cables market by value. In terms of value, Asia Pacific is expected to register a CAGR of 22.7% from 2022-2027.
In terms of type, single core segment dominated and constituted 79.3% share of the global submarine power cables market in 2021. In terms of conductor, copper segment dominated and constituted more than 70% share of the global submarine power cables market in 2021. In terms of voltage, high (500KV and above) segment dominated and constituted more than 65% share of the global submarine power cables market in 2021. In terms of end user, offshore wind power segment constituted more than 60% share of the market in 2021.
Delays in project fundings for offshore oil & gas and offshore wind power projects has hampered the new sales as well as maintenance activities of submarine power cables.
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