Submarine Power Cable Systems Market, Global Outlook and Forecast 2022-2028

Submarine Power Cable Systems Market, Global Outlook and Forecast 2022-2028

Amid the COVID-19 crisis, the global market for Submarine Power Cable estimated at US$9.2 Billion in the year 2020, is projected to reach a revised size of US$24.1 Billion by 2027, growing at a CAGR of 14.8% over the period 2020-2027.

Single Core, one of the segments analyzed in the report, is projected to record 15.7% CAGR and reach US$17.6 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Multi Core segment is readjusted to a revised 12.6% CAGR for the next 7-year period.

The U.S. Market is Estimated at $2.7 Billion, While China is Forecast to Grow at 14.2% CAGR

The Submarine Power Cable market in the U.S. is estimated at US$2.7 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$4.2 Billion by the year 2027 trailing a CAGR of 14.2% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 13.2% and 12.6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 10.7% CAGR.

Single Core Cable Segment to Reach $ Million by 2028, with a % CAGR in next six years.

The global key manufacturers of Submarine Power Cable Systems include Prysmian, Nexans, ZTT Group, ORIENT CABLE, Sumitomo Electric, Furukawa, Hengtong Group, NKT and WANDA CABLE GROUP, etc. In 2021, the global top five players have a share approximately % in terms of revenue.

We surveyed the Submarine Power Cable Systems companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.

Total Market by Segment:

Global Submarine Power Cable Systems Market, by Type, 2017-2022, 2023-2028 ($ millions)

Global Submarine Power Cable Systems Market Segment Percentages, by Type, 2021 (%)

• Single Core Cable
• Multicore Cable

Global Submarine Power Cable Systems Market, by Application, 2017-2022, 2023-2028 ($ millions)

Global Submarine Power Cable Systems Market Segment Percentages, by Application, 2021 (%)

• Shallow Sea
• Deep Sea

Global Submarine Power Cable Systems Market, By Region and Country, 2017-2022, 2023-2028 ($ Millions)

Global Submarine Power Cable Systems Market Segment Percentages, By Region and Country, 2021 (%)

• North America
• US
• Canada
• Mexico
• Europe
• Germany
• France
• U.K.
• Italy
• Russia
• Nordic Countries
• Benelux
• Rest of Europe
• Asia
• China
• Japan
• South Korea
• Southeast Asia
• India
• Rest of Asia
• South America
• Brazil
• Argentina
• Rest of South America
• Middle East & Africa
• Turkey
• Israel
• Saudi Arabia
• UAE
• Rest of Middle East & Africa

Competitor Analysis

The report also provides analysis of leading market participants including:

• Key companies Submarine Power Cable Systems revenues in global market, 2017-2022 (estimated), ($ millions)
• Key companies Submarine Power Cable Systems revenues share in global market, 2021 (%)

Further, the report presents profiles of competitors in the market, key players include:

• Prysmian
• Nexans
• ZTT Group
• ORIENT CABLE
• Sumitomo Electric
• Furukawa
• Hengtong Group
• NKT
• WANDA CABLE GROUP
• TFKable
• Qingdao Hanhe Cable
• KEI Industries

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