Submarine Power Cable Market : Key Growth Factors and Industry Analysis 2024

A submarine power cable is an electricity transmission cable used primarily to carry electricity from below the surface of the water. It is termed submarine, as it is mostly laid onto the seafloor or buried under the seafloor. Submarine power cable is used to transmit electricity to offshore installations such as oil & gas platforms, offshore laboratories, or offshore power generation units. If required, these cables can also be laid on to river beds or lake beds for energy transmission across cities or remote locations. Submarine power cable can also be employed to interconnect different electrical transmission networks to allow global energy trade. Its usage can be extended to supply power and for communication purpose to remote locations.

Browse Market Research Report @

High Voltage Alternating Current (HVAC) and High Voltage Direct Current (HVDC) are the two primary and basic types of submarine power cable. Depending upon the insulation, the cable can also be classified into paper insulated & fluid filled and extruded plastic insulation (XLPE or EPR). The size or diameter of the cable depends upon its current carrying capacity and amount of insulating layers. The range varies from 50 mm to 1500 mm, depending upon the end-use or application.
Most countries are shifting toward harnessing wind energy & wave energy of sea or ocean due to the increase in demand for renewable energy. The number of offshore wind farms has increased significantly of late. At the same time, the usage of tidal turbine to harness wave energy is also being practiced in developed nations such as the U.S., Germany, France, and Denmark.
Submarine power cable carries the electricity generated at such offshore renewable energy platforms to the shore or mainland for usage in various applications. However, such energy projects need to transfer high or heavy load of electricity from power generation unit to load centers. This can lead to significant losses during transmission of power. HVDC cables are lightweight; therefore, they are preferred over HVAC cables for such applications. Thus, rise in the number of renewable power generation projects is expected to boost the demand for HVDC cables in the next few years.
Apart from renewable energy sources, submarine power cables are also used for providing power to offshore oil & gas platforms and offshore ocean laboratories. Most of the oil deposits are being developed offshore, which requires power for its operations, is certainly one of the key factor which may increase the demand of Submarine power cables.
High cost of installation or high cost of laying the cable onto the ocean or sea floor is the major restraint of the submarine power cable market. The route has to be surveyed before laying such cables across long distances along the seafloor. However, the planned route may change due to the topography and submarine conditions. This may increase the cost of the project.
Europe is expected to be a key region of the submarine power cable market in the near future due to the major shift toward renewable energy in the region. In February 2017, the European Union agreed to the proposal of investing significantly in increasing energy security by strengthening its cross-border energy infrastructure. HVDC cables can play a vital role in such projects. This presents immense opportunities for the submarine power cable market.

Get accurate market forecast and analysis on the Submarine Power Cable Market. Request a sample to stay abreast on the key trends impacting this market @

Asia Pacific is also anticipated to be a key region of the market due to the rise in the usage of renewable energy in the region. North America is also likely to be one of the prominent regions of the submarine power cable market owing to the rising number of renewable energy projects and offshore oil and gas projects in the region.

Key players operating in the submarine power cable market are Hentong Marine Cable Systems, AEI Cables, General Cables, JDR Cables, NXT, Prysmian, ZTT, ABB, Nexan, TE Subcom, and Sumitomo

Comments

Post a Comment

Popular posts from this blog

High-performance Anti-corrosion Coatings Market to Record an Exponential CAGR by 2024

The global high-performance anti-corrosion coatings market was valued at US$ 12.60 Bn in 2017 and is anticipated to expand at a CAGR of 5.9% from 2018 to 2026, according to a new report titled ‘High-performance Anti-corrosion Coatings Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026,’ published by Transparency Market Research (TMR). The global high-performance anti-corrosion coatings market is driven by growth of the global oil & gas industry. Asia Pacific accounts for a major share of the global market, due to growth of construction, marine, and oil & gas industries in the region. Read Report Overview @ https://www.transparencymarketresearch.com/high-performance-anticorrosion-coatings-market.html The number of oil & gas drilling and exploration activities has increased in the last few years. The Gulf of Mexico, Southeast Asia, and North Sea are currently rich in oil & gas resources and they have a large ...
Keep reading

Wood Adhesives and Binders Market to Perceive Substantial Growth During 2020 The competitive landscape of global wood adhesive and binders market is fragmented, as only tope four players are responsible for 36% of the total market, as analyzed by Transparency Market Research (TMR). As the market requires huge amount of capital and significant high setup cost some of the key players play a noticeable role. Henkel AG, Dow Chemical Company, 3M Company and Co., KGaA, HB Fuller, and 3M Company are some of the key players analyzed in the report. The global wood adhesive and binders market is consolidated due to the high cost involved to customize products by using innovative technologies. The competition is also fierce due to limited number of players competing against each other. Although new player with strong financial support will pave their way in bio based adhesive formulations. Read Report Overview @ https://www.transparencymarketresearch.com/wood-adhesives-binders-market.html As per the analysis done by the TMR authors, the global wood adhesive and binders market is estimated to reach a valuation of US$ 17.7 bn by the end of the forecast period in 2020. The CAGR is projected to expand at 4.4% between 2014 to 2020. The furniture and subcomponents segment under the application category is estimated to lead the market by attaining 5% CAGR during the forecast period. As per geography, North America leads the global market. The region is witness larger consumption of wood adhesive and binders market in the recent past. Increasing Demand in Construction Industry Could Boost the Market Wood adhesive and binders have a significant role in making cabinets, windows, doors, flooring, plywood, and various other structural panels. The use of wood adhesive and binders is widely seen in furniture and construction areas. As the construction market is estimated to increase at a CAGR of 4.7% during 2016 to 2020, which will significantly boost the demand for wood adhesive and binders during the same period. Rising population in emerging nations, require residential facilities thus propelling the construction and infrastructure market, which will further boost the demand for wood adhesive and binders market. Asia Pacific being the major region where building and construction industry have significantly growing 2015 to 2020. Environmental Concerns May Restrain the Wood Adhesive and Binders Market to Grow at its Full Potential Petroleum based feedstock like vinyl, styrene butadiene, urea, acetate, phenols, acrylates, and polyurethanes helps in manufacturing wood adhesive and binders. As these petroleum feedstock’s are highly dependent on crude oil, even a minute fluctuation in the crude oil prices affects the raw material required to manufacture wood adhesive and binders. Request to view Sample Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=3045 Additionally, with the emission of volatile organic compounds (VOC) while manufacturing wood adhesive and binders highly affects the environment and create various health risks. The increasing environmental concerns may restrict the market from attaining its full potential. Thus to mitigate these harmful effects number of governments are bring regulation to restrict the amount of gasses releases while manufacturing adhesives and binders which will help the market to grow in coming years. About Us Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information. TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports. Contact Transparency Market Research State Tower, 90 State Street, Suite 700, Albany NY - 12207 United States Tel: +1-518-618-1030 USA - Canada Toll Free: 866-552-3453 Email: sales@transparencymarketresearch.com Website: http://www.transparencymarketresearch.com

The competitive landscape of global wood adhesive and binders market is fragmented, as only tope four players are responsible for 36% of the total market, as analyzed by Transparency Market Research (TMR). As the market requires huge amount of capital and significant high setup cost some of the key players play a noticeable role. Henkel AG, Dow Chemical Company, 3M Company and Co., KGaA, HB Fuller, and 3M Company are some of the key players analyzed in the report. The global wood adhesive and binders market is consolidated due to the high cost involved to customize products by using innovative technologies. The competition is also fierce due to limited number of players competing against each other. Although new player with strong financial support will pave their way in bio based adhesive formulations. Read Report Overview @ https://www.transparencymarketresearch.com/wood-adhesives-binders-market.html As per the analysis done by the TMR authors, the glob...
Keep reading

Water Pump Market - Global Industry Analysis , Share 2023 | TMR

Albany, New York, May 29, 2017: Transparency Market Research (TMR) announces a new report on the global water pump market. The report, titled ‘Water Pump Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2023,’ profiles the historical development of the market to derive useful patterns regarding the way the market has developed in the recent past. Based on a solid database of past and present data, reliable projections regarding the future growth trajectory of the global water pump market have been provided in the report. The report provides readers with a comprehensive picture of the global water pump market, making it a must-have accessory for interested parties in the market. Browse Market Research Report @ http://www.transparencymarketresearch.com/water-pump-market.html Water pumps have been a necessity in human development and have played a key role in the development of human civilization itself. In recent years, the global w...
Keep reading