Global Submarine Power Cables Market Outlook 2037

The global submarine power cable market is set to expand at a CAGR of 9.63% over the forecast period, i.e., 2025-2037. This growth of the market is predicted to be encouraged by the growing installation of offshore wind turbines, along with the rising capacity of renewable energy sources. Furthermore, the market is also set to rise on account of surging advancement of submarine power cables, and growing discoveries of offshore reservoirs. The market is predicted to capture a revenue of about USD 40 billion by the end of 2037, up from a revenue of more than USD 10 billion in the year 2024.

The global market for submarine power cable is segmented into numerous segments including core type, voltage, conductor material, and end user. By conductor material, the market is further segmented into copper and aluminum. Amongst these, the copper segment is set to gather the highest revenue by the end of 2037. This growth is set to be influence by growing production of copper.

On the basis of region, the global submarine power cable market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Europe market is predicted to generate the highest revenue of close to USD 13 billion by the end of 2037, up from a revenue of over USD 4 billion gathered in the year 2024. The major element to drive the market growth in this region is rising investment in offshore projects.

Some of the prominent industry leaders in the global submarine power cable market that are included in our report are Prysmian Spa, KEI Industries Ltd, Nexans Group, Ls cables and systems ltd, ZTT, Furukawa Electric Co Ltd, Ningbo Orient Wires & Cables Co., Ltd, Sumitomo Electric Industries Limited, TFKable, ABB Group, Hydro Group, and others.

1. An Outline of the Submarine Power Cable Market

1.2 Market definition
1.3 Market segmentation
1.4 Solution overview

2. Assumptions & Abbreviations

3. Research Methodology & Approach

3.2 Research process
3.3 Primary research
3.3.1 Service/Solution Providers
3.3.2 End-users
3.4 Secondary research
3.5 Market size estimation

4. Summary of the Report for Key Decision Makers5. Market Opportunities6. Market Dynamics7. Market Trends8. Major Roadblocks for the Market Growth9. Regulatory Landscape10. Comparative Analysis of the Current Technologies11. Industry Risk Analysis12. Industry Pricing Benchmarking & Analysis13. SWOT Analysis14. Industry Growth Outlook15. Use Case Analysis16. Industry Supply Chain Analysis17. Regional Demand Analysis18. Recent News on Submarine Power Cables Market19. PORTER Analysis20. EXIM Analysis21. Patent Analysis22. Competitive Positioning

23. Global Submarine Power Cable Market Outlook

23.2 Market Summary
23.3 Market Revenue by Value (USD Million) and Compound Annual Growth Rate (CAGR)
23.4 Market Increment $ Opportunity Assessment, 2024-2037
23.5 Year-on-Year (YoY) Growth Trend Analysis
23.6 Global Submarine Power Cable Market Valuation, Business Viewpoint, and Forecast by Core Type, 2024-2037
23.6.1 Single Core Cable, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
23.6.2 Multi Core Cable, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
23.7 Global Submarine Power Cable Market Valuation, Business Viewpoint, and Forecast by Voltage, 2024-2037
23.7.1 Medium, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
23.7.2 High, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
23.8 Global Submarine Power Cable Market Valuation, Business Viewpoint, and Forecast by Conductor Material, 2024-2037
23.8.1 Copper, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
23.8.2 Aluminum, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
23.9 Global Submarine Power Cable Market Valuation, Business Viewpoint, and Forecast by End User, 2024-2037
23.9.1 Off-Shore Wind Power Generation, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
23.9.2 Inter Country and Island Connection, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
23.9.3 Offshore Oil & Gas, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
23.10 Global Submarine Power Cable Market Valuation, Business Viewpoint, and Forecast by Region, 2024-2037
23.10.1 North America, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
23.10.2 Europe, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
23.10.3 Asia Pacific excluding Japan, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
23.10.4 Japan, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
23.10.5 Latin America, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
23.10.6 Middle East & Africa, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
23.11 Cross Analysis of Core Type w.r.t. End User (USD Million), 2024-2037

24. North America Submarine Power Cable Market Outlook

24.2 Market Summary
24.3 Market Value (USD Million) Current and Future Projections, 2024-2037
24.4 Market Increment $ Opportunity Assessment, 2024-2037
24.5 Year-on-Year Growth Forecast (%)
24.6 Market Dynamics
24.7 Key players operating in the region
24.8 Trends / Opportunities in the market
24.9 North America Submarine Power Cable Market Valuation, Business Viewpoint, and Forecast by Core Type, 2024-2037
24.9.1 Single Core Cable, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
24.9.2 Multi Core Cable, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
24.10 North America Submarine Power Cable Market Valuation, Business Viewpoint, and Forecast by Voltage, 2024-2037
24.10.1 Medium, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
24.10.2 High, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
24.11 North America Submarine Power Cable Market Valuation, Business Viewpoint, and Forecast by Conductor Material, 2024-2037
24.11.1 Copper, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
24.11.2 Aluminum, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
24.12 North America Submarine Power Cable Market Valuation, Business Viewpoint, and Forecast by End User, 2024-2037
24.12.1 Off-Shore Wind Power Generation, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
24.12.2 Inter Country and Island Connection, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
24.12.3 Offshore Oil & Gas, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
24.13 North America Submarine Power Cable Market Valuation, Business Viewpoint, and Forecast by Country, 2024-2037
24.13.1 US, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
24.13.2 Canada, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
24.14 Cross Analysis of Core Type w.r.t. End User (USD Million), 2024-2037

25. Europe Submarine Power Cable Market Outlook

25.2 Market Summary
25.3 Market Value (USD Million) Current and Future Projections, 2024-2037
25.4 Market Increment $ Opportunity Assessment, 2024-2037
25.5 Year-on-Year Growth Forecast (%)
25.6 Market Dynamics
25.7 Key players operating in the region
25.8 Trends / Opportunities in the market
25.9 Europe Submarine Power Cable Market Valuation, Business Viewpoint, and Forecast by Core Type, 2024-2037
25.9.1 Single Core Cable, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
25.9.2 Multi Core Cable, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
25.10 Europe Submarine Power Cable Market Valuation, Business Viewpoint, and Forecast by Voltage, 2024-2037
25.10.1 Medium, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
25.10.2 High, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
25.11 Europe Submarine Power Cable Market Valuation, Business Viewpoint, and Forecast by Conductor Material, 2024-2037
25.11.1 Copper, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
25.11.2 Aluminum, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
25.12 Europe Submarine Power Cable Market Valuation, Business Viewpoint, and Forecast by End User, 2024-2037
25.12.1 Off-Shore Wind Power Generation, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
25.12.2 Inter Country and Island Connection, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
25.12.3 Offshore Oil & Gas, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
25.13 Europe Submarine Power Cable Market Valuation, Business Viewpoint, and Forecast by Country, 2024-2037
25.13.1 U.K, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
25.13.2 Germany, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
25.13.3 France, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
25.13.4 Italy, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
25.13.5 Spain, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
25.13.6 Russia, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
25.13.7 Rest of Europe, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
25.14 Cross Analysis of Core Type w.r.t. End User (USD Million), 2024-2037

26. Asia Pacific excluding Japan Submarine Power Cable Market Outlook

26.2 Market Summary
26.3 Market Value (USD Million) Current and Future Projections, 2024-2037
26.4 Market Increment $ Opportunity Assessment, 2024-2037
26.5 Year-on-Year Growth Forecast (%)
26.6 Market Dynamics
26.7 Key players operating in the region
26.8 Trends / Opportunities in the market
26.9 Asia Pacific excluding Japan Submarine Power Cable Market Valuation, Business Viewpoint, and Forecast by Core Type, 2024-2037
26.9.1 Single Core Cable, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
26.9.2 Multi Core Cable, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
26.10 Asia Pacific excluding Japan Submarine Power Cable Market Valuation, Business Viewpoint, and Forecast by Voltage, 2024-2037
26.10.1 Medium, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
26.10.2 High, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
26.11 Asia Pacific excluding Japan Submarine Power Cable Market Valuation, Business Viewpoint, and Forecast by Conductor Material, 2024-2037
26.11.1 Copper, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
26.11.2 Aluminum, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
26.12 Asia Pacific excluding Japan Submarine Power Cable Market Valuation, Business Viewpoint, and Forecast by End User, 2024-2037
26.12.1 Off-Shore Wind Power Generation, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
26.12.2 Inter Country and Island Connection, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
26.12.3 Offshore Oil & Gas, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
26.13 Asia Pacific excluding Japan Submarine Power Cable Market Valuation, Business Viewpoint, and Forecast by Country, 2024-2037
26.13.1 China, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
26.13.2 India, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
26.13.3 South Korea, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
26.13.4 Australia, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
26.13.5 Vietnam, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
26.13.6 New Zealand, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
26.13.7 Rest of Asia Pacific, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
26.14 Cross Analysis of Core Type w.r.t. End User (USD Million), 2024-2037

27. Japan Submarine Power Cable Market Outlook

27.2 Market Summary
27.3 Market Value (USD Million) Current and Future Projections, 2024-2037
27.4 Market Increment $ Opportunity Assessment, 2024-2037
27.5 Year-on-Year Growth Forecast (%)
27.6 Market Dynamics
27.7 Key players operating in the region
27.8 Trends / Opportunities in the market
27.9 Japan Submarine Power Cable Market Valuation, Business Viewpoint, and Forecast by Core Type, 2024-2037
27.9.1 Single Core Cable, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
27.9.2 Multi Core Cable, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
27.10 Japan Submarine Power Cable Market Valuation, Business Viewpoint, and Forecast by Voltage, 2024-2037
27.10.1 Medium, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
27.10.2 High, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
27.11 Japan Submarine Power Cable Market Valuation, Business Viewpoint, and Forecast by Conductor Material, 2024-2037
27.11.1 Copper, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
27.11.2 Aluminum, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
27.12 Japan Submarine Power Cable Market Valuation, Business Viewpoint, and Forecast by End User, 2024-2037
27.12.1 Off-Shore Wind Power Generation, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
27.12.2 Inter Country and Island Connection, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
27.12.3 Offshore Oil & Gas, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
27.13 Cross Analysis of Core Type w.r.t. End User (USD Million), 2024-2037

28. Latin America Submarine Power Cable Market Outlook

28.2 Market Summary
28.3 Market Value (USD Million) Current and Future Projections, 2024-2037
28.4 Market Increment $ Opportunity Assessment, 2024-2037
28.5 Year-on-Year Growth Forecast (%)
28.6 Market Dynamics
28.7 Key players operating in the region
28.8 Trends / Opportunities in the market
28.9 Latin America Submarine Power Cable Market Valuation, Business Viewpoint, and Forecast by Core Type, 2024-2037
28.9.1 Single Core Cable, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
28.9.2 Multi Core Cable, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
28.10 Latin America Submarine Power Cable Market Valuation, Business Viewpoint, and Forecast by Voltage, 2024-2037
28.10.1 Medium, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
28.10.2 High, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
28.11 Latin America Submarine Power Cable Market Valuation, Business Viewpoint, and Forecast by Conductor Material, 2024-2037
28.11.1 Copper, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
28.11.2 Aluminum, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
28.12 Latin America Submarine Power Cable Market Valuation, Business Viewpoint, and Forecast by End User, 2024-2037
28.12.1 Off-Shore Wind Power Generation, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
28.12.2 Inter Country and Island Connection, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
28.12.3 Offshore Oil & Gas, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
28.13 Latin America Submarine Power Cable Market Valuation, Business Viewpoint, and Forecast by Country, 2024-2037
28.13.1 Brazil, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
28.13.2 Argentina, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
28.13.3 Mexico, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
28.13.4 Rest of Latin America, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
28.14 Cross Analysis of Core Type w.r.t. End User (USD Million), 2024-2037

29. Middle East & Africa Submarine Power Cable Market Outlook

29.2 Market Summary
29.3 Market Value (USD Million) Current and Future Projections, 2024-2037
29.4 Market Increment $ Opportunity Assessment, 2024-2037
29.5 Year-on-Year Growth Forecast (%)
29.6 Market Dynamics
29.7 Key players operating in the region
29.8 Trends / Opportunities in the market
29.9 Middle East & Africa Submarine Power Cable Market Valuation, Business Viewpoint, and Forecast by Core Type, 2024-2037
29.9.1 Single Core Cable, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
29.9.2 Multi Core Cable, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
29.10 Middle East & Africa Submarine Power Cable Market Valuation, Business Viewpoint, and Forecast by Voltage, 2024-2037
29.10.1 Medium, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
29.10.2 High, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
29.11 Middle East & Africa Submarine Power Cable Market Valuation, Business Viewpoint, and Forecast by Conductor Material, 2024-2037
29.11.1 Copper, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
29.11.2 Aluminum, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
29.12 Middle East & Africa Submarine Power Cable Market Valuation, Business Viewpoint, and Forecast by End User, 2024-2037
29.12.1 Off-Shore Wind Power Generation, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
29.12.2 Inter Country and Island Connection, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
29.12.3 Offshore Oil & Gas, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
29.13 Middle East & Africa Submarine Power Cable Market Valuation, Business Viewpoint, and Forecast by Country, 2024-2037
29.13.1 GCC, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
29.13.2 Israel, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
29.13.3 South Africa, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
29.13.4 Rest of Middle East & Africa, Market Value (USD Million), CAGR & Y-o-Y Growth Trend, 2024-2037F
29.14 Cross Analysis of Core Type w.r.t. End User (USD Million), 2024-2037

30. Comprehensive Analysis of Leading Players in the Market

30.2 Market share of Key Competitors in the Market (%), 2023
30.3 Profile of the Major Vendors
30.3.1 Prysmian Spa
30.3.2 KEI Industries Ltd
30.3.3 Nexans Group
30.3.4 Ls cables and systems ltd
30.3.5 ZTT Group
30.3.6 Furukawa Electric Co Ltd
30.3.7 Ningbo Orient Wires & Cables Co., Ltd
30.3.8 Sumitomo Electric Industries Limited
30.3.9 TFKable
30.3.10 ABB Group
30.3.11 Hydro Group

Companies Mentioned

Prysmian Spa
KEI Industries Ltd
Nexans Group
Ls cables and systems ltd
ZTT
Furukawa Electric Co Ltd
Ningbo Orient Wires & Cables Co. Ltd
Sumitomo Electric Industries Limited
TFKable
ABB Group
Hydro Group

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