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North America Submarine Power Cable Market Size, Share & Industry Trends Analysis Report By Core Type (Single Core, & Multicore), By Conductor Material (copper & Aluminium), By Voltage, By Type, By End User, By Country and Growth Forecast, 2023 - 2030

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from $1,500 154 Pages Knowledge Based Value (KBV) Research October, 2023 KBV18339214
Best Price Guarantee
Price from $1,500
Length 154 Pages
Publisher Knowledge Based Value (KBV) Research
Published Date October, 2023
SKU KBV18339214

North America Submarine Power Cable Market Size, Share & Industry Trends Analysis Report By Core Type (Single Core, & Multicore), By Conductor Material (copper & Aluminium), By Voltage, By Type, By End User, By Country and Growth Forecast, 2023 - 2030


The North America Submarine Power Cable Market would witness market growth of 11.7% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 449.6 million feets, showcasing a growth of 9.6% (2019-2022).

A power transmission system provides multiple paths between generators and consumers to connect them. Submarine electricity transmission enables the transfer of electricity beneath the water's surface. Submarine power cables are enormous transmission cables that transport electricity below the water's surface. These are called "submarines" because they transport electricity beneath salt water (ocean arms, oceans, and straits). However, they can also be used beneath freshwater (large lakes and rivers). Many electrical power transmission systems use alternating current (AC) because transformers can easily adjust voltages as required.

Increasing investments in offshore wind farms, rising data traffic, and investments by OTT providers to meet demand are the primary factors driving market growth. Submarine cables are commonly used for electricity transmission and communication. The growing need to interconnect countries power grids is a significant aspect influencing the demand for low-power cables. Most nations view submarine cables as a vital economic component and have enacted regulations to protect them from risk. In addition, it establishes the legal framework for implementing new submarine initiatives.

One of the primary drivers for submarine power cable adoption in North America is the development of offshore wind energy projects along the Atlantic coast. Several states, such as Massachusetts, New York, New Jersey, and Virginia, have ambitious plans to harness offshore wind resources to meet renewable energy targets. North America has a diverse and expansive geography with regions separated by large bodies of water, including the Great Lakes and the Gulf of Mexico. Grid interconnection projects are being planned and implemented to enhance the reliability and resiliency of the electrical grid. With the growing offshore wind energy and offshore oil & gas sectors, the market will grow significantly in this region.

The US market dominated the North America Submarine Power Cable Market, By Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $4,855.2 million by 2030. The Canada market is experiencing a CAGR of 14.3% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 13.3% during (2023 - 2030).

Based on Core Type, the market is segmented into Single Core, & Multicore. Based on Conductor Material, the market is segmented into copper & Aluminium. Based on Voltage, the market is segmented into High, & Low. Based on Type, the market is segmented into DC, & AC. Based on End User, the market is segmented into Offshore Wind Power Generation, Offshore Oil & Gas, Inter-country and Island Connection. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Sumitomo Electric Industries, Ltd., Prysmian Group, Nexans S.A., NKT Photonics A/S (NKT A/S), LS Cable & System Ltd., Furukawa Electric Co., Ltd., SSG Cable Group, KEI Industries Limited, TPC Wire & Cable (Audax Management Company, LLC), and Hengtong Group Co., Ltd.

Scope of the Study

Market Segments covered in the Report:

By Core Type (Volume, Million Feets, USD Billion, 2019 to 2030)
  • Single Core
  • Multicore
By Conductor Material (Volume, Million Feets, USD Billion, 2019 to 2030)
  • copper
  • Aluminum
By Voltage (Volume, Million Feets, USD Billion, 2019 to 2030)
  • High
  • Low
By Type (Volume, Million Feets, USD Billion, 2019 to 2030)
  • DC
  • AC
By End User (Volume, Million Feets, USD Billion, 2019 to 2030)
  • Offshore Wind Power Generation
  • Offshore Oil & Gas
  • Inter-country and Island Connection
By Country (Volume, Million Feets, USD Billion, 2019 to 2030)
  • US
  • Canada
  • Mexico
  • Rest of North America
Companies Profiled
  • Sumitomo Electric Industries, Ltd.
  • Prysmian Group
  • Nexans S.A.
  • NKT Photonics A/S (NKT A/S)
  • LS Cable & System Ltd.
  • Furukawa Electric Co., Ltd.
  • SSG Cable Group
  • KEI Industries Limited
  • TPC Wire & Cable (Audax Management Company, LLC)
  • Hengtong Group Co., Ltd.
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Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Submarine Power Cable Market, by Core Type
1.4.2 North America Submarine Power Cable Market, by Conductor Material
1.4.3 North America Submarine Power Cable Market, by Voltage
1.4.4 North America Submarine Power Cable Market, by Type
1.4.5 North America Submarine Power Cable Market, by End User
1.4.6 North America Submarine Power Cable Market, by Geography
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
Chapter 4. Competition Analysis – Global
4.1 Market Share Analysis, 2022
4.2 Porter’s Five Forces Analysis
Chapter 5. North America Submarine Power Cable Market, By Core Type
5.1 North America Single Core Market, By Country
5.2 North America Multicore Market, By Country
Chapter 6. North America Submarine Power Cable Market, By Conductor Material
6.1 North America Copper Market, By Country
6.2 North America Aluminium Market, By Country
Chapter 7. North America Submarine Power Cable Market, By Voltage
7.1 North America High Market, By Country
7.2 North America Low Market, By Country
Chapter 8. North America Submarine Power Cable Market, By Type
8.1 North America DC Market, By Country
8.2 North America AC Market, By Country
Chapter 9. North America Submarine Power Cable Market, By End User
9.1 North America Offshore Wind Power Generation Market, By Country
9.2 North America Offshore Oil & Gas Market, By Country
9.3 North America Inter-country and Island Connection Market, By Country
Chapter 10. North America Submarine Power Cable Market, By Country
10.1 US Submarine Power Cable Market
10.1.1 US Submarine Power Cable Market, By Core Type
10.1.2 US Submarine Power Cable Market, By Conductor Material
10.1.3 US Submarine Power Cable Market, By Voltage
10.1.4 US Submarine Power Cable Market, By Type
10.1.5 US Submarine Power Cable Market, By End User
10.2 Canada Submarine Power Cable Market
10.2.1 Canada Submarine Power Cable Market, By Core Type
10.2.2 Canada Submarine Power Cable Market, By Conductor Material
10.2.3 Canada Submarine Power Cable Market, By Voltage
10.2.4 Canada Submarine Power Cable Market, By Type
10.2.5 Canada Submarine Power Cable Market, By End User
10.3 Mexico Submarine Power Cable Market
10.3.1 Mexico Submarine Power Cable Market, By Core Type
10.3.2 Mexico Submarine Power Cable Market, By Conductor Material
10.3.3 Mexico Submarine Power Cable Market, By Voltage
10.3.4 Mexico Submarine Power Cable Market, By Type
10.3.5 Mexico Submarine Power Cable Market, By End User
10.4 Rest of North America Submarine Power Cable Market
10.4.1 Rest of North America Submarine Power Cable Market, By Core Type
10.4.2 Rest of North America Submarine Power Cable Market, By Conductor Material
10.4.3 Rest of North America Submarine Power Cable Market, By Voltage
10.4.4 Rest of North America Submarine Power Cable Market, By Type
10.4.5 Rest of North America Submarine Power Cable Market, By End User
Chapter 11. Company Profiles
11.1 Sumitomo Electric Industries, Ltd.
11.1.1 Company Overview
11.1.2 Financial Analysis
11.1.3 Segmental and Regional Analysis
11.1.4 Research & Development Expenses
11.1.5 SWOT Analysis
11.2 Prysmian Group
11.2.1 Company Overview
11.2.2 Financial Analysis
11.2.3 Segmental and Regional Analysis
11.2.4 Research & Development Expenses
11.2.5 Recent strategies and developments:
11.2.5.1 Partnerships, Collaborations, and Agreements:
11.2.6 SWOT Analysis
11.3 Nexans S.A.
11.3.1 Company Overview
11.3.2 Financial Analysis
11.3.3 Segmental and Regional Analysis
11.3.4 Research & Development Expense
11.3.5 Recent strategies and developments:
11.3.5.1 Product Launches and Product Expansions:
11.3.5.2 Acquisition and Mergers:
11.3.6 SWOT Analysis
11.4 NKT Photonics A/S (NKT A/S)
11.4.1 Company Overview
11.4.2 Financial Analysis
11.4.3 Segmental and Regional Analysis
11.4.4 Research & Development Expenses
11.4.5 SWOT Analysis
11.5 LS Cable & System Ltd.
11.5.1 Company Overview
11.5.2 Financial Analysis
11.5.3 Recent strategies and developments:
11.5.3.1 Geographical Expansions:
11.5.4 SWOT Analysis
11.6 Furukawa Electric Co., Ltd.
11.6.1 Company Overview
11.6.2 Financial Analysis
11.6.3 Segmental and Regional Analysis
11.6.4 Research & Development Expense
11.6.5 SWOT Analysis
11.7 SSG Cable Group
11.7.1 Company Overview
11.7.2 SWOT Analysis
11.8 KEI Industries Limited
11.8.1 Company Overview
11.8.2 Financial Analysis
11.8.3 Segmental and Regional Analysis
11.8.4 SWOT Analysis
11.9 TPC Wire & Cable (Audax Management Company, LLC)
11.9.1 Company Overview
11.9.2 SWOT Analysis
11.10. Hengtong Group Co., Ltd.
11.10.1 Company Overview
11.10.2 SWOT Analysis

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