Submarine Cable Systems Market by Application (Communication Cable and Power Cable), Component (Dry Plant Products and Wet Plant Products) Offering, Voltage, Type (Single Core and Multicore), insulation, End User and Geography - Global Forecast to 2026

Submarine Cable Systems Market by Application (Communication Cable and Power Cable), Component (Dry Plant Products and Wet Plant Products) Offering, Voltage, Type (Single Core and Multicore), insulation, End User and Geography - Global Forecast to 2026

The submarine cable systems market is projected to grow from USD 13.8 billion in 2021 to USD 22.7 billion by 2026; it is expected to grow at a CAGR of 10.5%from 2021 to 2026.

Submarine power cables are widely used to link shore-based power grids. These cables carry power from one country to another, as well as from one offshore installation to another, and transfer power from offshore renewable energy generation plants, which use wind, wave, and tidal energy for electricity generation to other installations, consumers, regional electrical transmission networks, etc.

“By insulation type, the market for Oil-Impregnated Paper (OIP) segment is expected to hold largest share during the forecast period”

OIP-insulated submarine power cables offer high voltage insulation and are usually employed for high-voltage DC transmission. These are also called mass-impregnated cables and are sustainable for the environment. This insulation type is the go-to for insulation for submarine power interconnectors, as it is suited for long-distance transmissions at extreme depths.

“The offshore wind power generation segment is expected to grow at the highest CAGR of the submarine power cable systems market during the forecast period.”

Increase in use of submarine power cables for long-distance power transmission by offshore wind power generation plants is expected to fuel the demand for submarine power cables for offshore wind power generation during the forecast period.

“Asia Pacific region is expected to hold the largest share of the submarine power cable systems market during the forecast period.”

Planned investment for using renewable power sources in China, advanced research and development activities in Japan, and related government initiatives in Asian countries are expected drive the regions revenue generation from submarine power cable systems market.

Break-up of the profiles of primary participants:
By Company Type – Tier 1 – 40%, Tier 2 – 25%, and Tier 3 – 35%
By Designation – C-level – 45%, Director-level – 25%, and, Other – 30%
By Region – North America - 55%, Europe – 20%, APAC – 15%, and RoW – 10%

The key players operating in the submarine cable systems market include Alcatel-Lucent Enterprise (France), SubCom LLC (US), NEC Corporation (Japan), NEXANS (France), and Prysmian Group (Italy).

The Submarine Cable Systems market has been segmented into application, type, offering, voltage, component, insulation, end-user, and region.

Based on application the submarine communication cable market has been segmented into power cable and communication cable. Based on type the submarine communication cable market has been segmented into dry plant products and wet plant products. Based on offering the submarine communication cable market has been segmented by installation & commissioning, maintenance, and upgrades. Based on region the submarine communication cable market has been segmented by Trans-Atlantic, Trans-Pacific, Intra-Asia, Americas, Eu-Asia, and EMEA. Based on type the submarine power cable market has been segmented by single core and multicore. Based on voltage the submarine power cable market has been segmented by medium voltage and high voltage. Based on insulation the submarine power cable market has been segmented by Cross-linked Polyethylene (XLPE), Oil Impregnated Paper, Resin Impregnated Paper (RIP), and Resin Impregnated Synthetics (RIS). Based on End-User the submarine power cable market has been segmented by offshore wind, inter-country & island connections, and offshore oil & gas. Based on region the submarine power cable market has been segmented by North America, Europe, APAC, Middle East & Africa, and South America.
Illustrative segmentation, analysis, and forecast of the market based on application, type, offering, voltage, component, insulation, end-user, and region have been conducted to give an overall view of the submarine cable systems market.
A value chain analysis has been performed to provide in-depth insights into the submarine cable systems market.
The key drivers, restraints, opportunities, and challenges pertaining to the submarine cable systems market have been detailed in this report.
Detailed information regarding the COVID-19 impact on the submarine cable systems market has been provided in the report.
The report includes a detailed competitive landscape of the market, along with key players, as well as in-depth analysis of their revenues