海底電力ケーブル市場 : 2028年までの世界予測

Report Overview

The Submarine Power Cable market is estimated to grow from USD 12.9 Billion in 2023 to USD 22.3 Billion by 2028; it is expected to record a CAGR of 11.5% during the forecast period. The submarine power cable market is witnessing rapid growth owing to the increasing offshore wind energy installations and the number of projects related to inter-country and island connections.

“Single-core: The largest segment of the Submarine Power Cable market, by core type”
Based on core type, the Submarine power cable market has been split into two types: single core, and multicore. Single-core submarine power cables are specialized electrical cables designed for the transmission of electrical power underwater. During cable installation, single-core cables are generally easier to handle and maneuver compared to multi-core cables. This can lead to cost savings and reduced installation time.

“Inter-country and island connection is expected to emerge as the second largest segment based on end use”
Based on end use, the submarine power cable market has been segmented into upto offshore wind power generation, inter-country and island connection, and offshore oil & gas. Interconnecting countries and islands through power cables or grids helps enhance energy security and reliability. If one region experiences a power shortage or outage, interconnected grids can supply power from neighboring areas, reducing the risk of blackouts and ensuring a stable energy supply. The expanding interconnection capacities in various countries due to ongoing and prospective investments in the projects is driving this growth.

“Asia Pacific is expected to emerge as the second-largest region based on Submarine Power Cables market”
By region, the Submarine Power Cable market has been segmented into Asia Pacific, North America, South America, Europe, and Middle East & Africa. Asia Pacific is expected to be the second-largest segment in the market. In this region, According to the Global Wind Energy Council (GWEC), the Asia-Pacific region is expected to lead offshore wind growth this decade. China is targeting 1,200 GW of wind energy capacity by 2030, while the Asia-Pacific region as a whole has offshore wind project pipelines totaling 250GW. This ongoing industry activity is one of the trend which is expected to attract fresh investments in the offshore winf power generation sector, subsequently driving demand for submarine power cables in the region.

Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
By Company Type: Tier 1- 45%, Tier 2- 30%, and Tier 3- 25%
By Designation: C-Level- 35%, Director Levels- 25%, and Others- 40%
By Region: North America- 27%, Europe- 20%, Asia Pacific- 25%, and South America- 8% , the Middle East & Africa- 12%,
Note: Others include product engineers, product specialists, and engineering leads.
Note: The tiers of the companies are defined on the basis of their total revenues as of 2021. Tier 1: > USD 1 billion, Tier 2: From USD 500 million to USD 1 billion, and Tier 3: < USD 500 million

The Submarine power cable market is dominated by a few major players that have a wide regional presence. The leading players in the Submarine power cable market are Prysmian S.p.A (Italy), Sumitomo electric industries (Japan), LS Cable & System Ltd. (South Korea), NKT A/S (Denmark), and Nexans (France).

Research Coverage:
The report defines, describes, and forecasts the Submarine Power Cables market, by system type, power rating, grid connectivity, end user, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates, in terms of value, and future trends in the Submarine Power Cables market.

Key Benefits of Buying the Report
• Growth of Offshore Wind Farms, and Rise in the growth of Offshore Oil & Gas Operations drive the demand. Factors such as Complexities due to involvement of multi-country government bodies leading to Delays, and High Cost of Installation and Repair of Submarine Cables hinder market growth. Increasing adoption of HVDC submarine power cables offer lucrative opportunities in this market. Requirement of Technical Expertise for Development and installation, Damages caused to cables by human interventions, Supply Chain Disruptions to Pose a Significant Challenge are major challenges faced by countries in this market.
• Product Development/ Innovation: New subsea cable technologies are being developed to meet the increasing demand for reliable and efficient energy transmission over long distances underwater. Developments on technologies such as High-Performance Thermoplastic Elastomer (HPTE) insulation are being carried out by companies for increasing demand for reliable and efficient energy transmission across long distances underwater.
• Market Development: The global scenario of submarine power cable is evolving rapidly, with trends towards growth in the offshore wind energy capacities, and growing inter-country connection projects in countries is driving the market.
• Market Diversification: Prysmian Group introduced two new 525 kV extruded land cable systems, one with P-Laser insulation, and the other with XLPE insulation, following a year of qualification testing adhering to international standards These cable systems are designed at higher voltage levels and feature large conductor cross-sections, offering efficient technical solutions for long-distance, high-power transmission while minimizing land usage.
• Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like Prysmian S.p.A (Italy), Sumitomo electric industries (Japan), LS Cable & System Ltd. (South Korea), NKT A/S (Denmark), and Nexans (France) among others in the Submarine Power Cable market.

Table of Contents

1            INTRODUCTION            27

1.1         STUDY OBJECTIVES      27

1.2         MARKET DEFINITION   27

1.2.1      INCLUSIONS AND EXCLUSIONS 28

1.2.1.1   Submarine power cable market, by core type  28

1.2.1.2   Submarine power cable market, by type         28

1.2.1.3   Submarine power cable market, by voltage     28

1.2.1.4   Submarine power cable market, by conductor material 28

1.2.1.5   Submarine power cable market, by end use    29

1.3         STUDY SCOPE  29

1.3.1      MARKETS COVERED     29

1.3.2      REGIONAL SCOPE         30

1.3.3      YEARS CONSIDERED     30

1.4         CURRENCY CONSIDERED          30

1.5         LIMITATIONS   31

1.6         STAKEHOLDERS            31

1.7         SUMMARY OF CHANGES            31

1.8         IMPACT OF RECESSION 32

2            RESEARCH METHODOLOGY     33

2.1         RESEARCH APPROACH 33

FIGURE 1           SUBMARINE POWER CABLE MARKET: RESEARCH DESIGN              33

2.2         MARKET BREAKDOWN AND DATA TRIANGULATION    34

FIGURE 2           DATA TRIANGULATION             34

2.2.1      SECONDARY DATA       35

2.2.1.1   Key data from secondary sources     35

2.2.2      PRIMARY DATA 35

2.2.2.1   Key data from primary sources         36

2.2.2.2   Breakdown of primaries     36

2.3         SCOPE  37

FIGURE 3           MAIN METRICS CONSIDERED TO ANALYZE AND ASSESS DEMAND FOR SUBMARINE POWER CABLE         38

2.4         MARKET SIZE ESTIMATION       38

2.4.1      BOTTOM-UP APPROACH           38

FIGURE 4           MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH       39

2.4.2      TOP-DOWN APPROACH             40

FIGURE 5           MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH       40

2.4.3      DEMAND-SIDE ANALYSIS           41

2.4.3.1   Regional analysis 41

2.4.3.2   Country-level analysis        42

2.4.3.3   Assumptions for demand-side analysis           42

2.4.3.4   Calculations for demand-side analysis            42

2.4.4      SUPPLY-SIDE ANALYSIS             43

FIGURE 6           KEY STEPS CONSIDERED TO ASSESS SUPPLY OF SUBMARINE POWER CABLE 43

FIGURE 7           SUBMARINE POWER CABLE MARKET: SUPPLY-SIDE ANALYSIS              43

2.4.4.1   Calculations for supply-side analysis 44

2.4.4.2   Assumptions for supply-side analysis             44

FIGURE 8           COMPANY REVENUE ANALYSIS, 2022     44

2.4.5      GROWTH FORECAST    44

2.5         RESEARCH ASSUMPTIONS         45

2.6         RECESSION IMPACT      45

3            EXECUTIVE SUMMARY 46

TABLE 1             SNAPSHOT OF SUBMARINE POWER CABLE MARKET     46

FIGURE 9           SINGLE-CORE SEGMENT TO HOLD LARGER MARKET SHARE DURING FORECAST PERIOD     47

FIGURE 10         DC SEGMENT TO DISPLAY HIGHER CAGR, BY TYPE, DURING FORECAST PERIOD       48

FIGURE 11         COPPER SEGMENT TO DOMINATE MARKET THROUGHOUT FORECAST PERIOD       48

FIGURE 12         HIGH VOLTAGE SEGMENT TO EXHIBIT GREATER CAGR DURING FORECAST PERIOD     49

FIGURE 13         OFFSHORE WIND POWER GENERATION SEGMENT TO LEAD MARKET DURING FORECAST PERIOD   49

FIGURE 14         EUROPE ACCOUNTED FOR LARGEST SHARE IN GLOBAL SUBMARINE POWER MARKET IN 2022    50

4            PREMIUM INSIGHTS      51

4.1         ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN SUBMARINE POWER CABLE MARKET             51

FIGURE 15         GROWING ADOPTION OF OFFSHORE SOLUTIONS AND GOVERNMENT MANDATES TO FAVOR MARKET GROWTH         51

4.2         ASIA PACIFIC: SUBMARINE POWER CABLE MARKET, BY END USE AND COUNTRY         52

FIGURE 16         INDUSTRIAL SEGMENT AND CHINA HELD LARGEST SHARES IN 2022      52

4.3         SUBMARINE POWER CABLE MARKET, BY CORE TYPE    52

FIGURE 17         SINGLE CORE SEGMENT TO ACCOUNT FOR LARGER MARKET SHARE IN 2028  52

4.4         SUBMARINE POWER CABLE MARKET, BY TYPE 53

FIGURE 18         DC SEGMENT TO DOMINATE MARKET IN 2028 53

4.5         SUBMARINE POWER CABLE MARKET, BY CONDUCTOR MATERIAL              53

FIGURE 19         ALUMINUM SEGMENT TO CLAIM LARGER MARKET SHARE IN 2028      53

4.6         SUBMARINE POWER CABLE MARKET, BY VOLTAGE       54

FIGURE 20         HIGH VOLTAGE SEGMENT TO DOMINATE MARKET IN 2028              54

4.7         SUBMARINE POWER CABLE MARKET, BY END USE         54

FIGURE 21         OFFSHORE WIND POWER GENERATION SEGMENT TO CAPTURE LARGEST MARKET SHARE IN 2028      54

5            MARKET OVERVIEW     55

5.1         INTRODUCTION            55

5.2         MARKET DYNAMICS     55

FIGURE 22         SUBMARINE POWER CABLE MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES    55

5.2.1      DRIVERS            56

5.2.1.1   Growing installation of offshore wind turbines             56

FIGURE 23         GLOBAL OFFSHORE INSTALLATIONS, 2012–2021            57

5.2.1.2   Discoveries of reserves and growing offshore production in developing economies              57

TABLE 2             COUNTRY-WISE MAJOR OFFSHORE PROJECTS AND CONTRACTS     58

5.2.2      RESTRAINTS     59

5.2.2.1   Complex regulatory and environmental authorization procedures            59

5.2.2.2   High cost of installation and repairing submarine cables            59

5.2.3      OPPORTUNITIES           60

5.2.3.1   Increasing adoption of HVDC submarine power cables 60

TABLE 3             REGION-WISE DATA FOR HVDC SUBMARINE CABLE PROJECTS, 2021–2024          60

5.2.4      CHALLENGES   60

5.2.4.1   Requirement of technical expertise for developing and installing submarine power cables    60

5.2.4.2   Damage caused to cables by human interventions        61

FIGURE 24         FACTORS CAUSING SUBMARINE POWER CABLE FAULTS              61

5.2.4.3   Price variations of copper and aluminum       61

FIGURE 25         GLOBAL NOMINAL PRICES FOR ALUMINUM AND COPPER, 2020-2023           62

5.3         TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES 62

FIGURE 26         REVENUE SHIFT AND NEW REVENUE POCKETS FOR PLAYERS IN SUBMARINE POWER CABLE MARKET             62

5.4         TECHNOLOGY ANALYSIS           63

5.4.1      TECHNOLOGY TRENDS OF SUBMARINE POWER CABLES            63

5.5         CASE STUDY ANALYSIS 63

5.5.1      AUSTRALIA–SINGAPORE INTERCONNECTOR PROJECT FOSTERS REGIONAL ENERGY COOPERATION BY INVESTING IN HVDC TECHNOLOGY              63

5.5.2      TRATOS COLLABORATES WITH ENEL TO DEVELOP SPECIALIZED CABLES WITH ADVANCED INSULATION MATERIALS     64

5.6         KEY CONFERENCES AND EVENTS, 2023–2024     64

TABLE 4             SUBMARINE POWER CABLE MARKET: LIST OF CONFERENCES AND EVENTS    64

5.7         ECOSYSTEM ANALYSIS 65

TABLE 5             COMPANIES AND THEIR ROLE IN SUBMARINE POWER CABLE ECOSYSTEM     65

FIGURE 27         SUBMARINE POWER CABLE MARKET: ECOSYSTEM ANALYSIS              66

5.8         VALUE CHAIN ANALYSIS            67

FIGURE 28         SUBMARINE POWER CABLE MARKET: VALUE CHAIN ANALYSIS              67

5.9         PRICING ANALYSIS        68

FIGURE 29         AVERAGE SELLING PRICE OF SUBMARINE POWER CABLE, BY TYPE    68

TABLE 6             AVERAGE SELLING PRICE OF SUBMARINE POWER CABLE, BY TYPE    68

TABLE 7             AVERAGE SELLING PRICE ANALYSIS OF SUBMARINE POWER CABLE, BY REGION        69

FIGURE 30         AVERAGE SELLING PRICE OF SUBMARINE POWER CABLE, BY REGION, 2021–2028        69

5.10       TARIFF AND REGULATORY LANDSCAPE            69

5.10.1    TARIFF RELATED TO SUBMARINE POWER CABLE UNITS            69

TABLE 8             AVERAGE TARIFF DATA OF SUBMARINE CABLES, BY COUNTRY              70

5.10.2    REGULATORY LANDSCAPE       71

TABLE 9             NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS         71

TABLE 10           EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS         71

TABLE 11           ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS         72

TABLE 12           GLOBAL: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS         72

5.10.3    STANDARDS     73

TABLE 13           NORTH AMERICA: STANDARDS/REGULATIONS RELATED TO SUBMARINE POWER CABLE MARKET    73

TABLE 14           SOUTH AMERICA: STANDARDS/REGULATIONS RELATED TO SUBMARINE POWER CABLE MARKET    73

TABLE 15           GLOBAL: STANDARDS/REGULATIONS RELATED TO SUBMARINE POWER CABLE MARKET    74

5.11       PATENT ANALYSIS        74

TABLE 16           SUBMARINE POWER CABLE MARKET: INNOVATIONS AND PATENT REGISTRATIONS, 2020–2023     74

5.12       TRADE ANALYSIS          77

FIGURE 31         IMPORT AND EXPORT SCENARIO FOR PRODUCTS UNDER HS CODE: 8544, 2018–2022  77

TABLE 17           TRADE DATA FOR PRODUCTS UNDER HS CODE: 8544, 2018–2022 (USD THOUSAND) 78

5.13       PORTER’S FIVE FORCES ANALYSIS         78

TABLE 18           SUBMARINE POWER CABLE MARKET: PORTER’S FIVE FORCES ANALYSIS          78

FIGURE 32         SUBMARINE POWER CABLE MARKET: PORTER’S FIVE FORCES ANALYSIS          78

5.13.1    THREAT OF SUBSTITUTES         79

5.13.2    BARGAINING POWER OF SUPPLIERS     79

5.13.3    BARGAINING POWER OF BUYERS           79

5.13.4    THREAT OF NEW ENTRANTS    79

5.13.5    INTENSITY OF COMPETITIVE RIVALRY 80

5.14       KEY STAKEHOLDERS AND BUYING CRITERIA    80

5.14.1    KEY STAKEHOLDERS IN BUYING PROCESS         80

FIGURE 33         INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE END USES  80

TABLE 19           INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE BY END USES          80

5.14.2    BUYING CRITERIA         81

FIGURE 34         KEY BUYING CRITERIA FOR TOP THREE END USES        81

TABLE 20           KEY BUYING CRITERIA FOR TOP THREE END USES        81

6            SUBMARINE POWER CABLE MARKET, BY CORE TYPE    82

6.1         INTRODUCTION            83

FIGURE 35         SUBMARINE POWER CABLE MARKET, BY CORE TYPE, 2022              83

TABLE 21           SUBMARINE POWER CABLE MARKET, BY CORE TYPE, 2021–2028 (USD MILLION) 83

6.2         SINGLE-CORE   84

6.2.1      EASY INSTALLATION AND HANDLING TO DRIVE DEMAND       84

TABLE 22           SINGLE-CORE: SUBMARINE POWER CABLE MARKET, BY REGION, 2021–2028 (USD MILLION)       84

6.3         MULTI-CORE    84

6.3.1      EASY TRANSMISSION OF HIGH LEVELS OF POWER TO BOOST MARKET GROWTH          84

TABLE 23           MULTI-CORE: SUBMARINE POWER CABLE MARKET, BY REGION, 2021–2028 (USD MILLION)       85

7            SUBMARINE POWER CABLE MARKET, BY TYPE 86

7.1         INTRODUCTION            87

FIGURE 36         SUBMARINE POWER CABLE MARKET, BY TYPE, 2022      87

TABLE 24           SUBMARINE POWER CABLE MARKET, BY TYPE, 2021–2028 (USD MILLION)          87

7.2         AC         87

7.2.1      COST-EFFECTIVENESS FOR SHORT DISTANCE AND EASY MAINTENANCE TO DRIVE MARKET GROWTH   87

TABLE 25           AC: SUBMARINE POWER CABLE MARKET, BY REGION, 2021–2028 (USD MILLION)     88

7.3         DC        88

7.3.1      ABILITY TO FACILITATE SUBSEA POWER DISTRIBUTION FOR MARINE RESEARCH AND EXPLORATION TO SPUR DEMAND       88

TABLE 26           DC: SUBMARINE POWER CABLE MARKET, BY REGION, 2021–2028 (USD MILLION)     88

8            SUBMARINE POWER CABLE MARKET, BY VOLTAGE       89

8.1         INTRODUCTION            90

FIGURE 37         SUBMARINE POWER CABLE MARKET, BY VOLTAGE, 2022              90

TABLE 27           SUBMARINE POWER CABLE MARKET, BY VOLTAGE, 2021–2028 (USD MILLION) 90

8.2         MEDIUM-VOLTAGE      91

8.2.1      SUITABILITY FOR SHORT-DISTANCE POWER TRANSMISSION TO DRIVE MARKET 91

TABLE 28           MEDIUM-VOLTAGE: SUBMARINE POWER CABLE MARKET, BY REGION, 2021–2028 (USD MILLION)       91

8.3         HIGH-VOLTAGE            91

8.3.1      RISING NUMBER OF OFFSHORE WIND POWER INSTALLATIONS TO FOSTER SEGMENTAL GROWTH 91

TABLE 29           HIGH-VOLTAGE: SUBMARINE POWER CABLE MARKET, BY REGION, 2021–2028 (USD MILLION)       92

9            SUBMARINE POWER CABLE MARKET, BY CONDUCTOR MATERIAL              93

9.1         INTRODUCTION            94

FIGURE 38         SUBMARINE POWER CABLE MARKET, BY CONDUCTOR MATERIAL, 2022             94

TABLE 30           SUBMARINE POWER CABLE MARKET, BY CONDUCTOR MATERIAL, 2021–2028 (USD MILLION)   94

9.2         COPPER             95

9.2.1      ROBUST TENSILE STRENGTH AND THERMAL CONDUCTIVITY TO FOSTER SEGMENTAL GROWTH 95

TABLE 31           CHARACTERISTICS OF COPPER AND ALUMINUM           95

TABLE 32           COPPER: SUBMARINE POWER CABLE MARKET, BY REGION, 2021–2028 (USD MILLION)          95

9.3         ALUMINUM       96

9.3.1      SAFE HANDLING FOR LONG CABLE LENGTHS TO DRIVE DEMAND              96

TABLE 33           ALUMINUM: SUBMARINE POWER CABLE MARKET, BY REGION, 2021–2028 (USD MILLION)          96

10          SUBMARINE POWER CABLE MARKET, BY END USE         97

10.1       INTRODUCTION            98

FIGURE 39         SUBMARINE POWER CABLE MARKET, BY END USE, 2022              98

TABLE 34           SUBMARINE POWER CABLE MARKET, BY END USE, 2021–2028 (USD MILLION) 98

10.2       OFFSHORE WIND POWER GENERATION             99

10.2.1    DEPLOYMENT OF HVDC CABLING TO TRANSMIT POWER ACROSS REMOTE OFFSHORE INSTALLATIONS TO BOOST SEGMENTAL GROWTH              99

TABLE 35           COUNTRY-WISE DATA ON OFFSHORE WIND PROJECTS, 2022–2027      99

TABLE 36           OFFSHORE WIND POWER GENERATION: SUBMARINE POWER CABLE MARKET, BY REGION, 2021–2028 (USD MILLION) 100

10.3       INTER-COUNTRY & ISLAND CONNECTION        100

10.3.1    PROMOTION OF UNIFIED ELECTRICITY MARKET TO DRIVE MARKET              100

TABLE 37           REGION-WISE DATA ON SUBMARINE INTERCONNECTION PROJECTS, 2021–2027    101

TABLE 38           INTER-COUNTRY & ISLAND CONNECTION: SUBMARINE POWER CABLE MARKET, BY REGION, 2021–2028 (USD MILLION)             101

10.4       OFFSHORE OIL & GAS   102

10.4.1    INCREASING SUBSEA OPERATIONS AND DEEPWATER DRILLING TO FUEL MARKET GROWTH            102

TABLE 39           OFFSHORE OIL & GAS: SUBMARINE POWER CABLE MARKET, BY REGION, 2021–2028 (USD MILLION)  102

11          SUBMARINE POWER CABLE MARKET, BY REGION          103

11.1       INTRODUCTION            104

FIGURE 40         NORTH AMERICA TO DISPLAY HIGHEST CAGR DURING FORECAST PERIOD       104

FIGURE 41         EUROPE DOMINATED GLOBAL SUBMARINE POWER CABLE MARKET IN 2022             104

TABLE 40           SUBMARINE POWER CABLE MARKET, BY REGION, 2021–2028 (USD MILLION) 105

TABLE 41           SUBMARINE POWER CABLE MARKET, BY REGION, 2021–2028 (KILOMETERS) 105

11.2       EUROPE             105

TABLE 42           EUROPE OFFSHORE WIND SITES WITH GRID-CONNECTED TURBINES, 2022 106

FIGURE 42         EUROPE: SUBMARINE POWER CABLE MARKET SNAPSHOT              106

11.2.1    RECESSION IMPACT: EUROPE   107

TABLE 43           EUROPE: SUBMARINE POWER CABLE MARKET, BY TYPE, 2021–2028 (USD MILLION)     107

TABLE 44           EUROPE: SUBMARINE POWER CABLE MARKET, BY CORE TYPE, 2021–2028 (USD MILLION)          107

TABLE 45           EUROPE: SUBMARINE POWER CABLE MARKET, BY VOLTAGE, 2021–2028 (USD MILLION)          107

TABLE 46           EUROPE: SUBMARINE POWER CABLE MARKET, BY CONDUCTOR MATERIAL, 2021–2028 (USD MILLION)      107

TABLE 47           EUROPE: SUBMARINE POWER CABLE MARKET, BY COUNTRY, 2021–2028 (USD MILLION)          108

11.2.2    UK         108

11.2.2.1 Strong focus to achieve ‘Net Zero Target’ to fuel market            108

TABLE 48           UK: SUBMARINE POWER CABLE MARKET, BY END USE, 2021–2028 (USD MILLION)     109

11.2.3    GERMANY         109

11.2.3.1 Legislations favoring development of renewable energy sector to fuel market growth   109

TABLE 49           GERMANY: SUBMARINE POWER CABLE MARKET, BY END USE, 2021–2028 (USD MILLION)          110

11.2.4    DENMARK         110

11.2.4.1 Rising investments to develop offshore wind energy projects to favor market growth   110

TABLE 50           DENMARK: SUBMARINE POWER CABLE MARKET, BY END USE, 2021–2028 (USD MILLION)          110

11.2.5    NETHERLANDS 111

11.2.5.1 Promising investment opportunities for players in offshore wind sector to foster market growth     111

TABLE 51           NETHERLANDS: SUBMARINE POWER CABLE MARKET, BY END USE, 2021–2028 (USD MILLION) 111

11.2.6    NORWAY           111

11.2.6.1 Key players making significant investments in offshore oil and gas industry to drive market   111

TABLE 52           NORWAY: SUBMARINE POWER CABLE MARKET, BY END USE, 2021–2028 (USD MILLION)          112

11.2.7    FRANCE             112

11.2.7.1 Growing emphasis on developing energy sector to drive market growth   112

TABLE 53           FRANCE: SUBMARINE POWER CABLE MARKET, BY END USE, 2021–2028 (USD MILLION)          112

11.2.8    REST OF EUROPE           113

TABLE 54           REST OF EUROPE: SUBMARINE POWER CABLE MARKET, BY END USE, 2021–2028 (USD MILLION)      113

11.3       ASIA PACIFIC    114

FIGURE 43         ASIA PACIFIC: SUBMARINE POWER CABLE MARKET SNAPSHOT              115

11.3.1    RECESSION IMPACT: ASIA PACIFIC        115

TABLE 55           ASIA PACIFIC: SUBMARINE POWER CABLE MARKET, BY TYPE, 2021–2028 (USD MILLION)          116

TABLE 56           ASIA PACIFIC: SUBMARINE POWER CABLE MARKET, BY CORE TYPE, 2021–2028 (USD MILLION)             116

TABLE 57           ASIA PACIFIC: SUBMARINE POWER CABLE MARKET, BY VOLTAGE, 2021–2028 (USD MILLION)    116

TABLE 58           ASIA PACIFIC: SUBMARINE POWER CABLE MARKET, BY CONDUCTOR MATERIAL, 2021–2028 (USD MILLION)      116

TABLE 59           ASIA PACIFIC: SUBMARINE POWER CABLE MARKET, BY COUNTRY, 2021–2028 (USD MILLION     117

11.3.2    CHINA  117

11.3.2.1 Increased focus on achieving carbon neutrality to drive market  117

TABLE 60           CHINA: SUBMARINE POWER CABLE MARKET, BY END USE, 2021–2028 (USD MILLION)          117

11.3.3    JAPAN  118

11.3.3.1 Rising government-led initiatives to protect undersea cables to drive market              118

TABLE 61           JAPAN: SUBMARINE POWER CABLE MARKET, BY END USE, 2021–2028 (USD MILLION)          118

11.3.4    SOUTH KOREA 118

11.3.4.1 Ongoing developments in offshore wind sector to fuel market growth      118

TABLE 62           SOUTH KOREA: SUBMARINE POWER CABLE MARKET, BY END USE, 2021–2028 (USD MILLION) 119

11.3.5    MALAYSIA         119

11.3.5.1 Rise in offshore oil & gas explorations to drive market  119

TABLE 63           MALAYSIA: SUBMARINE POWER CABLE MARKET, BY END USE, 2021–2028 (USD MILLION)          119

11.3.6    INDONESIA       120

11.3.6.1 Development of new offshore projects to foster market growth  120

TABLE 64          INDONESIA: SUBMARINE POWER CABLE MARKET, BY END USE, 2021–2028 (USD MILLION)          120

11.3.7    VIETNAM          120

11.3.7.1 Subsequent increase in offshore wind energy capacity to boost market growth              120

TABLE 65           VIETNAM: SUBMARINE POWER CABLE MARKET, BY END USE, 2021–2028 (USD MILLION)          121

11.3.8    REST OF ASIA PACIFIC  121

TABLE 66           REST OF ASIA PACIFIC: SUBMARINE POWER CABLE MARKET, BY END USE, 2021–2028 (USD MILLION) 121

11.4       NORTH AMERICA          122

11.4.1    RECESSION IMPACT: NORTH AMERICA 122

TABLE 67           NORTH AMERICA: SUBMARINE POWER CABLE MARKET, BY TYPE, 2021–2028 (USD MILLION)             122

TABLE 68           NORTH AMERICA: SUBMARINE POWER CABLE MARKET, BY CORE TYPE, 2021–2028 (USD MILLION) 122

TABLE 69           NORTH AMERICA: SUBMARINE POWER CABLE MARKET, BY VOLTAGE, 2021–2028 (USD MILLION)    123

TABLE 70           NORTH AMERICA: SUBMARINE POWER CABLE MARKET, BY CONDUCTOR MATERIAL, 2021–2028 (USD MILLION)      123

TABLE 71           NORTH AMERICA: SUBMARINE POWER CABLE MARKET SIZE, BY END USE, 2021–2028 (USD MILLION) 123

TABLE 72           NORTH AMERICA: SUBMARINE POWER CABLE MARKET, BY COUNTRY, 2021–2028 (USD MILLION)    123

11.4.2    US         124

11.4.2.1 Implementation of comprehensive strategies by Department of Energy to boost market   124

TABLE 73           US: SUBMARINE POWER CABLE MARKET, BY END USE, 2021–2028 (USD MILLION)     124

11.4.3    CANADA            124

11.4.3.1 Government-led initiatives to promote and support clean economy with renewable energy technologies to fuel market growth     124

TABLE 74           CANADA: SUBMARINE POWER CABLE MARKET, BY END USE, 2021–2028 (USD MILLION)          125

11.4.4    MEXICO             125

11.4.4.1 Large and diverse renewable energy resource base to offer lucrative opportunities to players             125

TABLE 75           MEXICO: SUBMARINE POWER CABLE MARKET, BY END USE, 2021–2028 (USD MILLION)          125

11.5       MIDDLE EAST & AFRICA             126

11.5.1    RECESSION IMPACT: MIDDLE EAST & AFRICA   126

TABLE 76           MIDDLE EAST & AFRICA: SUBMARINE POWER CABLE MARKET, BY TYPE, 2021–2028 (USD MILLION)       126

TABLE 77           MIDDLE EAST & AFRICA: SUBMARINE POWER CABLE MARKET, BY CORE TYPE, 2021–2028 (USD MILLION)          126

TABLE 78           MIDDLE EAST & AFRICA: SUBMARINE POWER CABLE MARKET, BY VOLTAGE, 2021–2028 (USD MILLION)             127

TABLE 79           MIDDLE EAST & AFRICA: SUBMARINE POWER CABLE MARKET, BY CONDUCTOR MATERIAL, 2021–2028 (USD MILLION) 127

TABLE 80           MIDDLE EAST & AFRICA: SUBMARINE POWER CABLE MARKET, BY END USE, 2021–2028 (USD MILLION) 127

TABLE 81           MIDDLE EAST & AFRICA: SUBMARINE POWER CABLE MARKET, BY COUNTRY, 2021–2028 (USD BILLION)             127

11.5.2    SAUDI ARABIA  128

11.5.2.1 Significant presence of productive onshore oilfields to drive market         128

TABLE 82           SAUDI ARABIA: SUBMARINE POWER CABLE MARKET, BY END USE, 2021–2028 (USD MILLION) 128

11.5.3    UAE      128

11.5.3.1 Implementation of Enhanced Oil Recovery (EOR) technique in oil fields to surge demand 128

TABLE 83           UAE: SUBMARINE POWER CABLE MARKET, BY END USE, 2021–2028 (USD MILLION)     129

11.5.4    ANGOLA            129

11.5.4.1 Rising focus on exploring and producing offshore crude oil and natural gas to fuel market growth     129

TABLE 84           ANGOLA: SUBMARINE POWER CABLE MARKET, BY END USE, 2021–2028 (USD MILLION)          129

11.5.5    REST OF MIDDLE EAST & AFRICA           130

TABLE 85           REST OF MIDDLE EAST & AFRICA: SUBMARINE POWER CABLE MARKET, BY END USE, 2021–2028 (USD MILLION)           130

11.6       SOUTH AMERICA           130

11.6.1    RECESSION IMPACT: SOUTH AMERICA 130

TABLE 86           SOUTH AMERICA: SUBMARINE POWER CABLE MARKET, BY CORE TYPE, 2021–2028 (USD MILLION) 131

TABLE 87           SOUTH AMERICA: SUBMARINE POWER CABLE MARKET, BY TYPE, 2021–2028 (USD MILLION)             131

TABLE 88           SOUTH AMERICA: SUBMARINE POWER CABLE MARKET, BY VOLTAGE, 2021–2028 (USD MILLION)    131

TABLE 89           SOUTH AMERICA: SUBMARINE POWER CABLE MARKET, BY CONDUCTOR MATERIAL, 2021–2028 (USD MILLION)      131

TABLE 90           SOUTH AMERICA: SUBMARINE POWER CABLE MARKET SIZE, BY END USE, 2021–2028 (USD MILLION) 132

TABLE 91           SOUTH AMERICA: SUBMARINE POWER CABLE MARKET, BY COUNTRY, 2021–2028 (USD MILLION)    132

11.6.2    BRAZIL 132

11.6.2.1 Growing offshore exploration and oil production activities to drive market              132

TABLE 92           BRAZIL: SUBMARINE POWER CABLE MARKET, BY END USE, 2021–2028 (USD MILLION)          133

11.6.3    ARGENTINA      133

11.6.3.1 Rising government investments for offshore gas production venture to drive market   133

TABLE 93           ARGENTINA: SUBMARINE POWER CABLE MARKET, BY END USE, 2021–2028 (USD MILLION) 133

11.6.4    REST OF SOUTH AMERICA         134

TABLE 94           REST OF SOUTH AMERICA: SUBMARINE POWER CABLE MARKET, BY END USE, 2021–2028 (USD MILLION)           134

12          COMPETITIVE LANDSCAPE       135

12.1       OVERVIEW        135

12.2       KEY STRATEGIES ADOPTED BY MAJOR PLAYERS            135

TABLE 95           SUBMARINE POWER CABLE MARKET: OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS           135

12.3       MARKET SHARE ANALYSIS, 2022             136

FIGURE 44         SUBMARINE POWER CABLE MARKET SHARE ANALYSIS, 2022              136

TABLE 96           SUBMARINE POWER CABLE MARKET SHARE ANALYSIS, 2022              137

FIGURE 45         SUBMARINE POWER CABLE MARKET SHARE ANALYSIS OF KEY PLAYERS, 2022  137

12.4       REVENUE ANALYSIS, 2018–2022 138

FIGURE 46         SUBMARINE POWER CABLE MARKET: REVENUE ANALYSIS OF TOP FIVE PLAYERS, 2018–2022   138

12.5       EVALUATION MATRIX OF KEY COMPANIES, 2022           139

12.5.1    STARS  139

12.5.2    PERVASIVE PLAYERS     139

12.5.3    EMERGING LEADERS    139

12.5.4    PARTICIPANTS 139

FIGURE 47         SUBMARINE POWER CABLE MARKET: EVALUATION MATRIX OF KEY COMPANIES, 2022          140

12.6       SUBMARINE POWER CABLE MARKET: COMPANY FOOTPRINT   141

TABLE 97           COMPANY FOOTPRINT 141

TABLE 98           TYPE: COMPANY FOOTPRINT   142

TABLE 99           END USE: COMPANY FOOTPRINT          143

TABLE 100         REGION: COMPANY FOOTPRINT            144

12.7       COMPETITIVE SCENARIOS AND TRENDS           145

12.7.1    PRODUCT LAUNCHES  145

TABLE 101         SUBMARINE POWER CABLE MARKET: PRODUCT LAUNCHES, 2021–2023          145

12.7.2    DEALS  145

TABLE 102         SUBMARINE POWER CABLE MARKET: DEALS, 2021–2023 145

12.7.3    OTHERS             146

TABLE 103         SUBMARINE POWER CABLE MARKET: OTHERS, 2021–2023              146

13          COMPANY PROFILES    147

13.1       KEY PLAYERS   147

(Business Overview, Products/Services/Solutions Offered, MnM View, Key Strengths and Right to Win, Strategic Choices Made, Weaknesses and Competitive Threats, Recent Developments)*

13.1.1    SUMITOMO ELECTRIC INDUSTRIES, LTD.          147

TABLE 104         SUMITOMO ELECTRIC INDUSTRIES, LTD.: COMPANY OVERVIEW        147

FIGURE 48         SUMITOMO ELECTRIC INDUSTRIES, LTD.: COMPANY SNAPSHOT        148

TABLE 105         SUMITOMO ELECTRIC INDUSTRIES, LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED   148

TABLE 106         SUMITOMO ELECTRIC INDUSTRIES, LTD.: DEALS          149

TABLE 107         SUMITOMO ELECTRIC INDUSTRIES, LTD.: OTHERS       149

13.1.2    PRYSMIAN SPA 152

TABLE 108         PRYSMIAN GROUP: COMPANY OVERVIEW         152

FIGURE 49         PRYSMIAN GROUP: COMPANY SNAPSHOT         153

TABLE 109         PRYSMIAN GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED          153

TABLE 110         PRYSMIAN GROUP: PRODUCT LAUNCHES         154

TABLE 111         PRYSMIAN GROUP: DEALS         154

TABLE 112         PRYSMIAN GROUP: OTHERS      154

13.1.3    NEXANS             161

TABLE 113         NEXANS: COMPANY OVERVIEW 161

FIGURE 50         NEXANS: COMPANY SNAPSHOT             162

TABLE 114         NEXANS: PRODUCTS/SOLUTIONS/SERVICES OFFERED 162

TABLE 115         NEXANS: DEALS             163

TABLE 116         NEXANS: OTHERS          164

13.1.4    NKT A/S             167

TABLE 117         NKT A/S: COMPANY OVERVIEW             167

FIGURE 51         NKT A/S: COMPANY SNAPSHOT             168

TABLE 118         NKT A/S: PRODUCTS/SOLUTIONS/SERVICES OFFERED 168

TABLE 119         NKT A/S: PRODUCT LAUNCHES             169

TABLE 120         NKT A/S: DEALS             169

TABLE 121         NKT A/S: OTHERS          170

13.1.5    LS CABLE & SYSTEM LTD.          173

TABLE 122         LS CABLE & SYSTEM LTD.: COMPANY OVERVIEW           173

FIGURE 52         LS CABLE & SYSTEM LTD.: COMPANY SNAPSHOT          173

TABLE 123         LS CABLE & SYSTEM LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED          174

TABLE 124         LS CABLE & SYSTEM LTD.: OTHERS       174

13.1.6    FURUKAWA ELECTRIC CO., LTD.            177

TABLE 125         FURUKAWA ELECTRIC CO., LTD.: COMPANY OVERVIEW              177

FIGURE 53         FURUKAWA ELECTRIC CO., LTD.: COMPANY SNAPSHOT              178

TABLE 126         FURUKAWA ELECTRIC CO., LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED   178

TABLE 127         FURUKAWA ELECTRIC CO., LTD.: OTHERS         179

13.1.7    ZTT      180

TABLE 128         ZTT: COMPANY OVERVIEW       180

FIGURE 54         ZTT: COMPANY SNAPSHOT      180

TABLE 129         ZTT: PRODUCTS/SOLUTIONS/SERVICES OFFERED        181

TABLE 130         ZTT: OTHERS   181

13.1.8    KEI INDUSTRIES LIMITED          183

TABLE 131         KEI INDUSTRIES LIMITED: COMPANY OVERVIEW          183

FIGURE 55         KEI INDUSTRIES LIMITED: COMPANY SNAPSHOT          184

TABLE 132         KEI INDUSTRIES LIMITED: PRODUCTS/SOLUTIONS/SERVICES OFFERED          184

TABLE 133         KEI INDUSTRIES LIMITED: DEALS          185

13.1.9    TFKABLE           186

TABLE 134         TFKABLE: COMPANY OVERVIEW            186

TABLE 135         TFKABLE: PRODUCTS/SOLUTIONS/SERVICES OFFERED              186

13.1.10  TAIHAN CABLE & SOLUTION CO., LTD. 187

TABLE 136         TAIHAN CABLE & SOLUTION CO., LTD.: COMPANY OVERVIEW              187

FIGURE 56         TAIHAN CABLE & SOLUTION CO., LTD.: COMPANY SNAPSHOT              188

TABLE 137         TAIHAN CABLE & SOLUTION CO., LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED   188

TABLE 138         TAIHAN CABLE & SOLUTION CO., LTD.: OTHERS           189

13.1.11  HENGTONG GROUP CO., LTD. 190

TABLE 139         HENGTONG GROUP CO., LTD: COMPANY OVERVIEW   190

TABLE 140         HENGTONG GROUP CO., LTD: PRODUCTS/SOLUTIONS/SERVICES OFFERED   190

TABLE 141         HENGTONG GROUP CO., LTD: OTHERS             191

13.1.12  TRATOS             192

TABLE 142         TRATOS: COMPANY OVERVIEW             192

TABLE 143         TRATOS: PRODUCTS/SOLUTIONS/SERVICES OFFERED 192

TABLE 144         TRATOS: OTHERS          193

13.1.13  HYDRO GROUP 194

TABLE 145         HYDRO GROUP: COMPANY OVERVIEW 194

TABLE 146         HYDRO GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED              194

13.1.14  THE OKONITE COMPANY          195

TABLE 147         THE OKONITE COMPANY: COMPANY OVERVIEW           195

TABLE 148         THE OKONITE COMPANY: PRODUCTS/SOLUTIONS/SERVICES OFFERED          195

13.1.15  HELLENIC CABLES        196

TABLE 149         HELLENIC CABLES: COMPANY OVERVIEW         196

TABLE 150         HELLENIC CABLES: PRODUCTS/SOLUTIONS/SERVICES OFFERED          196

TABLE 151         HELLENIC CABLES: OTHERS     197

*Business Overview, Products/Services/Solutions Offered, MnM View, Key Strengths and Right to Win, Strategic Choices Made, Weaknesses and Competitive Threats, Recent Developments might not be captured in case of unlisted companies.

13.2       OTHER PLAYERS           198

13.2.1    BHUWAL INSULATION CABLE PVT. LTD            198

13.2.2    APAR INDUSTRIES         199

13.2.3    JDR CABLE SYSTEMS LTD.         199

13.2.4    SSGCABLE         200

13.2.5    1X TECHNOLOGIES LLC             200

14          APPENDIX         201

14.1       INSIGHTS FROM INDUSTRY EXPERTS   201

14.2       DISCUSSION GUIDE      202

14.3       KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL             204

14.4       CUSTOMIZATION OPTIONS      206

14.5       RELATED REPORTS       206

14.6       AUTHOR DETAILS         207