A recent market intelligence report that is published by Data Insights Partner on Submarine Power Cable Market makes an offering of in-depth analysis of segments and sub-segments in the regional and international Submarine Power Cable Market. The research also emphasizes on the impact of restraints, drivers, and macro indicators on the regional and world Submarine Power Cable Market over the short as well as long period of time. A detailed presentation of forecast, trends, and dollar values of international Submarine Power Cable Market is offered. In accordance with the report, the Submarine Power Cable Market is projected to expand at a CAGR of 16.7% over the period of forecast.
Market Insight, Drivers, Restraints & Opportunity of the Market:
As the demand for the power continues to rise and the industry is moving steadily towards more sustainable and renewable energy sources, Transmission System Operators are more and more engaged in emerging, extending and elevating their power grids. This actually involves transmission of power through interconnectors that stretch across the land and under the seas, in between countries and the continents. First submarine cable that was used to carry the electricity was positioned across Isar River in the Bavaria in the year 1811. Submarine power cables have advanced considerably since then, through improvements in the technology and the design, ever growing in terms of capacity and length. Importance of the submarine power cables has augmented steadily in the recent decades. Advent of the offshore renewable energy needs export cables from wind, wave and the tidal installation is required to bring renewable energy ashore. With the growing dependence on the offshore-built renewable energy scheme, several countries nowadays class the submarine power cables as the critical infrastructure. Continuously growing demand for interconnecting diversified regional electrical transmission network for the purpose of allowing global energy trades is acting as a key growth driver for the submarine power cable market. Major advantages and growth drivers of submarine power cable includes that it is a major source of the renewable energy. With submarine power cables using the energy from the wind turbines or the ocean power, they are largely reducing the human dependency on the fossil fuel and helping them to make a shift towards much cleaner energy. These submarine power cables allow for a method to get the power to all these areas without much interference to land area and as a safe way to get this renewable power around different parts of the globe. Submarine power cables are being designed to be robust; though faults can momentarily affect the supply.
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Geographically, Submarine Power Cable Market is segmented into North America, Europe, Asia Pacific, Middle East, Africa and South America. The European market is anticipated to be the major contributor in the global submarine power cable market by 2026. Market size in Europe can be accredited to the growing offshore wind energy industry, of which the submarine power cable is a major component. The UK and Germany are the key countries for the submarine power cables in the European region. Continuously growing demand for the inter-country connection tied with demand from the offshore oil and gas business is estimated to drive the market demand in Europe.
This market intelligence report on the submarine power cable market can be segmented on the basis of voltage type, type, conducting material and application. Voltage type can be further bifurcated into three categories those are medium voltage (up to 72.5 kV), high voltage (up to 150 kV) and the extra high voltage (up to 220 kV).In terms of conducting material the market can be segmented into two categories those are copper and aluminum. By type the market has been segmented into two categories those are single mode and multimode cables. Single core segment is anticipated to grow at the fastest pace during forecast period as it is easier and economical in terms of deployment. Major applications are offshore wind farms, oil and gas industry, static tidal, island connections and the wave power applications along with lake and the river crossings.
Profiling of Market Players:
This business intelligence report offers profiling of reputed companies that are operating in the market. Companies such as Nexans, Prysmian , General Cable , NKT, ZTT, LS Cable & System and Sumitomo. Contracts for design, installation, supply & agreements was the commonly implemented strategy by the major players in the submarine power cable market in between 2015 to 2018 . Moreover, parameters such as submarine power cable market related investment & spending and developments by major players of the market are tracked in this global report.
In-depth analysis of the micro and macro indicators, market trends, and forecasts of demand is offered by this business intelligence report. Furthermore, the report offers a vivid picture of the factors that are steering and restraining the growth of this market across all geographical segments. In addition to that, IGR-Growth Matrix analysis is also provided in the report so as to share insight of the investment areas that new or existing market players can take into consideration. Various analytical tools such as DRO analysis, Porter’s five forces analysis has been used in this report to present a clear picture of the market. The study focuses on the present market trends and provides market forecast from the year 2017-2027. Emerging trends that would shape the market demand in the years to come have been highlighted in this report. A competitive analysis in each of the geographical segments gives an insight into market share of the global players.
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Ø This study offers comprehensive yet detailed analysis of the Submarine Power Cable Market, size of the market (US$ Mn), and Compound Annual Growth Rate (CAGR (%)) for the period of forecast: 2019 – 2027, taking into account 2017 as the base year
Ø It explains upcoming revenue opportunities across various market segments and attractive matrix of investment proposition for the said market
Ø This market intelligence report also offers pivotal insights about various market opportunities, restraints, drivers, launch of new products, competitive market strategies of leading market players, emerging market trends, and regional outlook
Ø Profiling of key market players in the world Submarine Power Cable Market is done by taking into account various parameters such as company strategies, distribution strategies, product portfolio, financial performance, key developments, geographical presence, and company overview
Ø Leading market players covered this report comprise names such as Nexans , Prysmian , General Cable , NKT, ZTT, LS Cable & System and Sumitomo among others
Ø The data of this report would allow management authorities and marketers of companies alike to take informed decision when it comes to launch of products, government initiatives, marketing tactics and expansion, and technical up gradation
Ø The world market for Submarine Power Cable Market caters to the needs of various stakeholders pertaining to this industry, namely suppliers, product manufacturers, investors, and distributors for Submarine Power Cable Market. The research also caters to the rising needs of consulting and research firms, financial analysts, and new market entrants
Ø Research methodologies that have been adopted for the purpose of this study have been clearly elaborated so as to facilitate better understanding of the reports
Ø Reports have been made based on the guidelines as mandated by General Data Protection Regulation
Ø Ample number of examples and case studies have been taken into consideration before coming to a conclusion
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