Dublin, July 12, 2018 (GLOBE NEWSWIRE) -- The "Submarine Power Cable Market, By Type (Single, Multicore), Voltage, Conductor Material (Copper, Aluminum), End-User (Offshore Wind Power Generation, Inter-Country & Island Connection, Offshore Oil & Gas) & Region-Global Forecast To 2023" report has been added to ResearchAndMarkets.com's offering.
The submarine power cable market is projected to grow at a CAGR of 15.32%, from 2018 to 2023. The increasing demand from the offshore wind industry, along with demand from intercountry & island connections, have boosted the demand for submarine power cables. Also, the increasing deployment of submarine power cables in the offshore oil & gas sector would further aid the growth of this market. The high cost of installation and complex regulatory authorization procedures would act as a restraint for the submarine power cable market. The single core segment is expected to grow at the highest CAGR, from 2018 to 2023. The single core segment is expected to be the fastest-growing submarine power cable market, by type, from 2018 to 2023. It is considered to be the ideal cable type for submarine power cables. Single core submarine power cables are more suitable to cover longer distance as these cables experience lower reverse current when compared to multicore cables. Thus, application-based demand is high for this particular cable type, resulting in higher market share. The demand for single core submarine power cables is also driven by the increasing HVDC interconnections in Europe, Asia Pacific, and North America. The high voltage segment is expected to dominate the submarine power cable market from 2018 to 2023. The high voltage segment is estimated to be the largest market for submarine power cables in 2018. The market for the high voltage segment is driven by increasing number of grid interconnections and offshore wind projects, which require high-capacity cables for transmitting power over a long distance. Europe: The largest market for submarine power cable Europe is expected to be the largest market for submarine power cables in 2018, followed by Asia Pacific and North America. UK and Germany are expected to be the largest markets for submarine power cables in the region because of significant investments being made in the offshore wind sector. The submarine power cable market is also expected to grow at a good pace in countries such as India, China, Taiwan and South Korea, because of new capacity additions in the offshore wind industry that are planned during the forecast period. These factors are expected to boost the growth of the submarine power cable market in Asia Pacific. Leading players in the submarine power cable market include Prysmian (Italy), Nexans (France), NKT (Denmark), General Cable (US), and Sumitomo (Japan).
Key Topics Covered
1 Introduction 1.1 Objectives of the Study 1.2 Definition 1.3 Market Scope 1.3.1 Market Segmentation 1.3.2 Regional Scope 1.4 Years Considered for the Study 1.5 Currency 1.6 Limitations 1.7 Stakeholders 2 Research Methodology 2.1 Research Data 2.1.1 Secondary Data 2.1.1.1 Key Secondary Sources 2.1.2 Primary Data 2.1.2.1 Key Data From Primary Sources 2.1.2.2 Key Industry Insights 2.1.2.3 Breakdown of Primaries 2.2 Market Size Estimation 2.2.1 Bottom-Up Approach 2.2.2 Top-Down Approach 2.3 Market Breakdown & Data Triangulation 2.4 Assumptions 3 Executive Summary 4 Premium Insights 4.1 Submarine Power Cable Market, By Country 4.2 Submarine Power Cable Market, By Conductor Type 4.3 Submarine Power Cable Market, By Type 4.4 Submarine Power Cable Market, By Voltage 4.5 Submarine Power Cable Market, By End-User 4.6 Europe Submarine Power Cable Market 5 Market Overview 5.1 Introduction 5.2 Market Dynamics 5.2.1 Drivers 5.2.1.1 Increasing Number of Offshore Wind Farms 5.2.1.2 Increasing Demand for Inter-Country & Island Power Connections 5.2.1.3 Demand From Offshore Oil & Gas Operations 5.2.2 Restraints 5.2.2.1 High Cost of Installation and Complexity in the Repair of Deepwater Cables 5.2.2.2 Regulatory, Environmental, & Complex Authorization Procedures Leading to Delays 5.2.3 Opportunity 5.2.3.1 Increasing Demand for High Voltage Direct Current (HVDC) Submarine Power Cables 5.2.4 Challenges 5.2.4.1 Technical Challenges Regarding Implementation and Installation 5.2.4.2 Damages Caused to Cables By Human Interventions 6 Submarine Power Cable Market, By Type 6.1 Introduction 6.2 Single Core 6.3 Multicore 7 Submarine Power Cable Market, By Voltage 7.1 Introduction 7.2 Medium Voltage 7.3 High Voltage 8 Submarine Power Cable Market, By Conductor Material 8.1 Introduction 8.2 Copper 8.3 Aluminum 9 Submarine Power Cable Market, By End-User 9.1 Introduction 9.2 Offshore Wind Power Generation 9.3 Inter-Country & Island Connection 9.4 Offshore Oil & Gas 10 Submarine Power Cable Market, By Region 10.1 Introduction 10.2 Europe 10.2.1 By Type 10.2.2 By Voltage 10.2.3 By Conductor Material 10.2.4 By Country 10.2.4.1 UK 10.2.4.2 Germany 10.2.4.3 Denmark 10.2.4.4 Netherlands 10.2.4.5 Norway 10.2.4.6 Rest of Europe 10.3 Asia Pacific 10.3.1 By Type 10.3.2 By Voltage 10.3.3 By Conductor Material 10.3.4 By Country 10.3.4.1 China 10.3.4.2 Japan 10.3.4.3 South Korea 10.3.4.4 Malaysia 10.3.4.5 Indonesia 10.3.4.6 Rest of Asia Pacific 10.4 North America 10.4.1 By Type 10.4.2 By Voltage 10.4.3 By Conductor Material 10.4.4 By Country 10.4.4.1 US 10.4.4.2 Canada 10.4.4.3 Mexico 10.5 Middle East & Africa 10.5.1 By Type 10.5.2 By Voltage 10.5.3 By Conductor Material 10.5.4 By Country 10.5.4.1 Saudi Arabia 10.5.4.2 UAE 10.5.4.3 Angola 10.5.4.4 Rest of the Middle East & Africa 10.6 South America 10.6.1 By Type 10.6.2 By Voltage 10.6.3 By Conductor Material 10.6.4 By Country 10.6.4.1 Brazil 10.6.4.2 Argentina 10.6.4.3 Rest of South America 11 Competitive Landscape 11.1 Introduction 11.2 Market Share Analysis 11.3 Competitive Scenario 11.3.1 Contracts & Agreements 11.3.2 Expansions & Investments 11.3.3 New Product Launches 11.3.4 Collaborations & Partnerships 11.3.5 Mergers & Acquisitions 12 Company Profiles 12.1 Benchmarking 12.2 Prysmian 12.3 Nexans 12.4 General Cable Corporation 12.5 NKT 12.6 Sumitomo Electric 12.7 Furukawa Electric 12.8 ZTT 12.9 KEI Industries 12.10 LS Cable & System 12.11 Tele-Fonika Kable 12.12 Hydro Group 12.13 Hengtong Group
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