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Submarine Cable System Market by Application, Offering And Region - Global Forecast to 2023

Submarine Cable System Market: Global Forecast until 2023

  • October 2018
  • 147 pages
  • ID: 5586651
In this report:
According to the ENTSO-E TYNDP 2016, around ##,## km route length of extra high-voltage power lines on land, as well as sea, will need to be built and refurbished by 2030 in Europe, accounting for ##% of the total distance to be built using EHV underground and submarine cables, the majority of which being HVDC submarine cabling.

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Submarine cable system market to grow at Compound annual growth rate of ~12.3 percent from 2018 to 2023

The submarine cable system market is forecasted to grow from ~$11.7B in 2018 to ~$20.9B by 2023, at a compound annual growth rate (CAGR) of ~12.3 percent. The rise of the submarine cable system market is propelled by the growing internet traffic in Asia-Pac and increasing number of internet users. Nevertheless, Elements such as entry barriers for start-ups and small-to-medium enterprises are selecting the market increase. Redundant links and natural and human-triggered activities pose main challenges for the actors in the submarine cable system market.

"Market for submarine power cables forecasted to grow at topmost cagr from 2018 to 2023

The industry for power cables is forecasted to grow at the maximal rate during the outlook period.Growing demand for electric energy on islands, together with disproportional costs of maintaining local electric energy production plants, has led to the significant production of submarine power cables to transfer electricity from the mainland to main grids.

Therefore, the need to connect new renewable sources to main grids and ensure the reliability of power supply to isolated islands will continue to boost the industry demand for high- and extra-high-voltage submarine power cables during the estimate period.

APAC-fastest-growing market for submarine power cables

Asia-Pacific is anticipated to be the quickest developing market for submarine power cables.China (CN) is anticipated to be the biggest market for submarine power cables in Asia-Pac by cause of the significant investments being made in the offshore wind market.

The submarine power cable market is also anticipated to grow at a good pace in countries such as india (IN), Taiwan, and South Korea (KR) as a result of new capacity additions in the offshore wind sector that are planned during the outlook period. These factors are anticipated to boost the rise of the submarine power cable market in Asia Pacific (APAC).

Breakdown of the profiles of primary members taking part:

• By Organization: Tier 1 = 45.0 percent, Tier 2 = 35.0 percent, and Tier 3 = 20.0 percent

• By Description: C-suite executives = 50.0 percent, Managers = 30.0 percent, and Others = 20.0 percent

• By Area: North America continent = 43.0 percent, EU = 29.0 percent, Asia-Pacific = 21.0 percent, and RoW = 7.0 percent

• Jiangsu Zhongtian Technology Co., Limited

• Jiangsu Hengtong Optic-Electric Stock Co., Limited

Segment Research

In this business report, the submarine cable system market has been broken down by application, component, offering, and area.The market has been split on the basis of application into communication, and power.

The submarine cable system market, by category, has been divided into dry plant products and wet plant products.Established on offerings, the industry has been broken down into installation and commissioning, maintenance, and upgrades.

The market research also forecasts the size of the market in 4 main regions-North America, Europe (EU), Asia-Pac, and RoW.

Why acquiring this study can help you

The analysis would benefit the market top players/new sector entrants in this sector in these ways:

1. This document breaks down the submarine cable system market comprehensively and offers the closest approximation of the global market size and those of the subsegments across distinct contact applications, components, offerings, and localities.

2. The market research would benefit partners distinguish the pulse of the sector and offer them with the info on key market drivers, market restraints, opportunities, and alternatives for the increase ot the market.

3. This industry report would benefit partners comprehend their players better and acquire additional insights to improve their rank in the business sector. The competitive outlook section includes competitor landscape, and launches of new product, alliances, and mergers and acquisitions carried out by the main players in the sector.

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