Submarine Power Cable Market Reach 19,071.3 million USD, at a Thriving CAGR of 12.5% by 2027 | Analytical Report on Global Trends and Top Manufacturers

Submarine Power Cable Market Research Report and Growth Analysis 2022 by Type (Single Core and Multi-Core), Insulation Type (Cross-Linked Polyethylene (XLPE) and Ethylene Propylene Rubber (EPR)), Voltage (Up to 66 KV, 66 KV-220 KV and Above 220 KV), Conductor Material (Copper and Aluminum), End-Use (Offshore Wind Power Generation, Offshore Oil & Gas, Island Connection, and Wave & Tidal Power Generation) and Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America) – Forecast till 2027

By 2027, the industry for submarine power cables is projected to reach USD 19,071.3 million, growing at a CAGR of 12.5% from 2018 to 2027.

The increase in offshore wind farms and the growing preference for offshore oil and petrol operational processes are the main causes of the expansion. Throughout the anticipated term, there should be chances for buyers and sellers in undersea electric lines due to the rising need for islands and transborder energy interconnections. Submersible powerline industry development is expected to be constrained during the projected timeframe by the high installation costs and repair complexities.

COVID-19 has had a significant influence on all global businesses. Authorities all over the world have implemented stronger measures for the functioning of industrial plants and offices, resulting in tighter shutoffs, as a result of the fast proliferation.

Key Players

• Prysmian Group
• NKT A/S
• Nexans SA
• Sumitomo Electric Industries Limited
• ABB Ltd.

Request Sample Report @ https://www.marketresearchfuture.com/sample_request/6442

The lockdown had a notable impact on the power sector overall as power demand had decreased majorly in the commercial and industrial sectors. Because of worker shortages and plant closures, the infection also had a substantial impact on the factories that made electrified barbed wire and components. The result was a drop in sales and a difficult scenario for the enterprises to manage their working capital.

In addition, India’s weekly electricity usage has decreased by 28% since the countrywide shutdown started in March 2020. This is a result of businesses in the commercial and industrial sectors closing their headquarters and facilities. Because the T&D losses suffered are more than what was first anticipated, distributing firms have had to incur higher aggregate commercial and technological (AT&C) losses than the thresholds established by the regulations.

The market for submarine power cables is anticipated to expand gradually over the projected timeframe as a result of the continued worldwide growth in energy consumption. The main factors driving the rise in power consumption worldwide are growing income, more access to electricity, and urbanization.

In 2019, the world’s largest electricity consumption increased by 2.3% compared to 2018, mostly as a result of rising temperatures and conditioning demands. To reduce carbon emissions and encourage sustained development worldwide, power-producing businesses have been concentrating on the production of alternative power. In addition, there is a need to expand the proportion of sustainable sources of energy in the power grid due to growing worries about increasing carbon pollution and measures to reduce them.

Submarine Power Cable Market Report Scope:

Request For Customization @ https://www.marketresearchfuture.com/ask_for_customize/6442

Submarine Power Cable Market Segmentation:

This market is segmented into five major groups that are type, type of insulation, voltage, conductor material, and end-use.

Based on the type of this market is segmented into the single-core and multi-core. Based on the type of insulation this is divided into cross-linked polyethylene (Xlpe) and Ethylene Propylene rubber (Epr).

Based on voltage this is divided into the up to 66Kv, 66Kv to 220 Kv, and above 220 kV. Based on the conductor material is divided into Copper and Aluminium. And in last based on the end-use of the product, this is divided into Offshore wind power generation, offshore Oil & gas, island connection, and Wave & tidal power generation.

Submarine Power Cable Market Regional classification:

This market is classified into five major regions that are south America, Asia-Pacific, Europe, North America, and Middle East & Africa.

TABLE OF CONTENTS

1 EXECUTIVE SUMMARY

1.1.1 GLOBAL SUBMARINE POWER CABLE MARKET, BY TYPE

1.1.2 GLOBAL SUBMARINE POWER CABLE MARKET, BY INSULATION TYPE

1.1.3 GLOBAL SUBMARINE POWER CABLE MARKET, BY VOLTAGE

1.1.4 GLOBAL SUBMARINE POWER CABLE MARKET, BY CONDUCTOR MATERIAL

1.1.5 GLOBAL SUBMARINE POWER CABLE MARKET, BY END-USE

1.1.6 GLOBAL SUBMARINE POWER CABLE MARKET, BY REGION

2 MARKET INTRODUCTION

2.1 DEFINITION

2.2 SCOPE OF THE STUDY

2.3 RESEARCH OBJECTIVE

2.4 MARKET STRUCTURE

3 RESEARCH METHODOLOGY

3.1 RESEARCH PROCESS

3.2 PRIMARY RESEARCH

3.3 SECONDARY RESEARCH

3.4 MARKET SIZE ESTIMATION

3.5 FORECAST MODEL

3.6 LIST OF ASSUMPTIONS

4 MARKET DYNAMICS

4.1 INTRODUCTION

4.2 DRIVERS

4.2.1 RISING NUMBER OF OFFSHORE WIND FARMS

4.2.2 INCREASING DEMAND IN OFFSHORE OIL & GAS OPERATIONS

4.3 RESTRAINTS

4.3.1 HIGH INSTALLATION COST AND REPAIRING COMPLEXITY

4.4 OPPORTUNITIES

4.4.1 GROWING DEMAND FOR INTERCOUNTRY AND ISLAND POWER CONNECTIONS

4.5 IMPACT ANALYSIS OF COVID-19

4.5.1 IMPACT ON OVERALL POWER INDUSTRY

4.5.1.1 ECONOMIC IMPACT

4.5.2 IMPACT ON THE SUBMARINE CABLE MARKET

4.5.3 IMPACT ON SUPPLY CHAIN OF SUBMARINE CABLE MARKET

4.5.3.1 PRICE VARIATION OF KEY RAW MATERIALS

4.5.3.2 PRODUCTION SHUTDOWN

4.5.3.3 CASH FLOW CONSTRAINTS

…Continued.

Speak to Analyst @ https://www.marketresearchfuture.com/ask_for_schedule_call/6442

About:

Market Research Future® (Part of WantStats Research and Media Pvt. Ltd.) has specialized research analysts in the areas of Aerospace & Defense, Automotive, C&M, Energy & Power, F&B, Healthcare & Pharmaceutical, ICT, Industrial Equipment, Packaging Construction & Mining and Semiconductor.

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. MRFR’s approach combines the proprietary information with various data sources to give an extensive understanding to the client about the latest key developments, expected events and about what action to take based on these aspects.

Tags: Submarine Power Cable Market, Submarine Power Cable Market Trends, Submarine Power Cable Market Share, Submarine power cable Market Growth, Submarine power cable Market Forecast, Submarine Power Cable Market regions See Campaign: https://www.marketresearchfuture.com/reports/submarine-power-cable-market-6442

Contact Information:

Contact: Market Research Future 99 Hudson Street,5Th Floor New York, New York 10013 United States of America Sales: +1 628 258 0071(US)  +44 2035 002 764(UK) Email: [email protected]

Tags:
Wire, Research Newswire, English