The global submarine power cable market is forecast to grow at a CAGR of 5.12% during the period 2017-2021.
The report, Global Submarine Power Cable Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
One trend in the market is bladeless wind turbines. Offshore wind turbine is one of the major end-user segments of the submarine power cable market as the energy generated from offshore wind farms is transported using these cables. With the change in trend toward renewable energy projects, wind turbines have become one of the main sources of renewable energy in both onshore and offshore segments.
According to the report, one driver in the market is increasing inter-country and island connections. According to the IEA, there will be a 40% rise in power demand, with most of the power satisfied with the help of renewable sources of energy owing to increasing environmental concerns. As a result, most of the countries are trying to invest on renewable projects such as wind and tidal energy projects that will increase the demand for submarine power cables. However, there are many countries or islands that are not able to generate electricity according to their demand.
Further, the report states that one challenge in the market is damages caused to cables by human interventions. Cables are easily exposed to damages owing to the manufacturing material used in them. Also, in the case of submarine cables, damages can occur due to several reasons. The major reason for the damages in submarine power cables is owing to the accidental issues created by fishing boats or ships. To reduce this risk, cables are laid deep under the seabed by taking trenches. However, accidents still happen as the anchor of the ships gets hooked to these cables.
- General Cable Technologies
- NKT Group
- Prysmian Group
- Sumitomo Electric Industries
Other prominent vendors
- Hangzhou Cable
- Hengtong Marine Cable System
- KEI Industries
- LS Cable & System
Key Topics Covered:
Part 01: Executive Summary
Part 02: Scope Of The Report
Part 03: Research Methodology
Part 04: Introduction
Part 05: Market Landscape
Part 06: Market Segmentation By End-User
Part 07: Geographical Segmentation
Part 08: Decision Framework
Part 09: Drivers And Challenges
Part 10: Market Trends
Part 11: Vendor Landscape
Part 12: Key Vendor Analysis
Part 13: Appendix
For more information about this report visit https://www.researchandmarkets.com/research/gpllnc/global_submarine
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