Global Submarine Cable Systems Market (2021 to 2026)

Global Submarine Cable Systems Market

Dublin, Feb. 16, 2022 (GLOBE NEWSWIRE) — The “Submarine Cable Systems Market by Application (Communication Cable and Power Cable), Component (Dry Plant Products and Wet Plant Products) Offering, Voltage, Type (Single Core and Multicore), insulation, End User and Geography – Global Forecast to 2026” report has been added to ResearchAndMarkets.com’s offering.

The submarine cable system market is projected to reach USD 22,747.8 million by 2026 from USD 13,807.4 million in 2021; it is expected to grow at a CAGR of 10.5% from 2021 to 2026.

Submarine power cables are widely used to link shore-based power grids. These cables carry power from one country to another, as well as from one offshore installation to another, and transfer power from offshore renewable energy generation plants, which use wind, wave, and tidal energy for electricity generation to other installations, consumers, regional electrical transmission networks, etc.

By insulation type, the market for Oil-Impregnated Paper (OIP) segment is expected to hold largest share during the forecast period

OIP-insulated submarine power cables offer high voltage insulation and are usually employed for high-voltage DC transmission. These are also called mass-impregnated cables and are sustainable for the environment. This insulation type is the go-to for insulation for submarine power interconnectors, as it is suited for long-distance transmissions at extreme depths.

The offshore wind power generation segment is expected to grow at the highest CAGR of the submarine power cable systems market during the forecast period.

Increase in use of submarine power cables for long-distance power transmission by offshore wind power generation plants is expected to fuel the demand for submarine power cables for offshore wind power generation during the forecast period.

Asia Pacific region is expected to hold the largest share of the submarine power cable systems market during the forecast period.

Story continues

Planned investment for using renewable power sources in China, advanced research and development activities in Japan, and related government initiatives in Asian countries are expected drive the regions revenue generation from submarine power cable systems market.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary
3.1 Growth Rate Assumptions/Growth Forecasts
3.2 Pre-COVID-19 Scenario
3.3 Post-COVID-19 Scenario

4 Premium Insights
4.1 Attractive Growth Opportunities in Submarine Cable Systems Market
4.2 Submarine Cable System Market, by Application
4.3 Submarine Communication Cable Market, by Component
4.4 Submarine Power Cable Market, by Insulation
4.5 Submarine Power Cable Market, by End-user & Region, 2021
4.6 Submarine Power Cable Market, by Country

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Expanding Offshore Wind Power Capacity
5.2.1.2 Increasing Penetration of Internet and…