Europe Export Offshore Wind Cable Market Size - By Voltage Rating (132 kV & Less, 132 kV & Above), By Conductor Material (Aluminum, Copper) & Forecast, 2024 – 2032

Europe Export Offshore Wind Cable Market Size - By Voltage Rating (132 kV & Less, 132 kV & Above), By Conductor Material (Aluminum, Copper) & Forecast, 2024 – 2032

Europe export offshore wind cable market size is set to register 38.3% CAGR during 2024-2032 driven by the substantial increase in offshore wind farm installations across the region. Europe has emerged as a global leader in offshore wind energy, with numerous large-scale projects developed in countries like the U.K., Germany, and Denmark. These projects employ advanced export cables to transmit electricity from offshore wind farms to the onshore grid efficiently. As per reports the EU built and connected to its grid 17GW of new wind capacity in 2023.

Innovations, such as improved insulation materials and higher voltage ratings are also enhancing the performance and durability of offshore wind cables, making them more suitable to the challenging marine environment. Significant investments in R&D activities, as well as the growing expertise of European cable manufacturers, will contribute to the development of more efficient and cost-effective solutions in the region.

The Europe export offshore wind cable industry is classified into voltage rating, conductor material, and country.

The market value from the less than 132kV voltage rating segment is poised to generate substantial revenue between 2024 and 2032 due to the increasing deployment of medium-voltage offshore wind farms and the need for cost-effective solutions. As many European countries are focusing on developing numerous smaller offshore wind installations in addition to large-scale projects, the demand for reliable and affordable 132 kV and lower voltage cables will grow.

Based on conductor material, the Europe export offshore wind cable market from the copper segment is set to grow during 2024-2032. This is owing to the superior electrical conductivity and reliability in high-performance cable applications. The excellent conductivity of copper allows efficient power transmission with minimal energy loss, which is crucial for the long distances involved in offshore wind projects.

U.K. export offshore wind cable industry will expand significantly through 2032 attributed to the ambitious targets for expanding offshore wind capacity and strategic investments in advanced grid infrastructure. The U.K. government has set ambitious goals to significantly increase offshore wind energy output by 2030, which involves deploying extensive wind farms in its maritime zones. This factor is likely to favor the regional market growth.