The Submarine Cable Systems Market is expected to grow from USD 13.8 billion in 2021 to USD 22.7 billion by 2026; it is expected to grow at a CAGR of 10.5% from 2021 to 2026
Submarine power cables are widely used to connect land-based power grids. These cables transport electricity from one country to another, as well as from one offshore installation to another, and transfer energy from offshore renewable energy production plants, which use wind, wave and tidal power for generating electricity to other facilities, consumers, regional power grids. transport networks, etc.
New York, 01 Feb. 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the publication of the report “Submarine Cable Systems Market by Application, Component Supply, Voltage, Type, Insulation, End User and Geography – Global Forecast to 2026” – https://www.reportlinker.com/p05586651/?utm_source=GNW
By Insulation Type, the Oil Impregnated Paper (OIP) segment market is expected to hold the largest share during the forecast period
OIP insulated submarine power cables provide high voltage insulation and are typically used for high voltage DC transmission. They are also called mass impregnated cables and are environmentally sustainable.
This type of insulation is the gold standard for underwater electrical interconnect insulation, as it is suitable for long distance transmissions at extreme depths.
The offshore wind power generation segment is expected to grow at the highest CAGR in the submarine power cable system market during the forecast period.
The increase in the use of submarine power cables for the transmission of electricity over long distances by offshore wind power plants is expected to fuel the demand for submarine power cables for offshore wind power generation during the forecast period.
The Asia-Pacific region is expected to hold the largest share of the submarine power cable system market during the forecast period.
Planned investments for the utilization of renewable energy sources in China, advanced research and development activities in Japan, and related government initiatives in Asian countries are expected to drive the region’s revenue generation from the power system market. submarine electric cables.
Distribution of the profiles of the main participants:
• By business type – Level 1 – 40%, Level 2 – 25% and Level 3 – 35%
• By designation – C level – 45%, Director level – 25% and other – 30%
• By region – North America – 55%, Europe – 20%, APAC – 15% and Rest of the world – 10%
The major players operating in the submarine cable systems market are Alcatel-Lucent Enterprise (France), SubCom LLC (United States), NEC Corporation (Japan), NEXANS (France) and Prysmian Group (Italy).
The submarine cable systems market has been segmented into application, type, supply, voltage, component, insulation, end user, and region.
Based on application, the submarine communication cable market has been segmented into power cables and communication cables. Based on type, the undersea communication cable market has been segmented into dry plant products and wet plant products.
On the basis of supply, the submarine communication cable market has been segmented by installation and commissioning, maintenance and upgrades. Based on region, the submarine communication cable market has been segmented by Transatlantic, Transpacific, Intra-Asian, Americas, Eu-Asia, and EMEA.
On the basis of type, the submarine power cable market has been segmented into single-core and multi-core. On the basis of voltage, the submarine power cable market has been segmented into medium voltage and high voltage.
On the basis of insulation, the underwater power cable market has been segmented into cross-linked polyethylene (XLPE), oil-impregnated paper, resin-impregnated paper (RIP), and resin-impregnated synthetics (RIS). On the basis of end-user, the submarine power cable market has been segmented by offshore wind, inter-country and island connections, and offshore oil and gas. Based on region, the submarine power cable market has been segmented into North America, Europe, APAC, Middle East & Africa and South America.
• Illustrative market segmentation, analysis and forecast based on application, type, supply, voltage, component, insulation, end-user and region has been performed to give a comprehensive view. overall market for submarine cable systems.
• A value chain analysis has been carried out to provide in-depth insights into the submarine cable systems market.
• Major drivers, restraints, opportunities, and challenges pertaining to the Submarine Cable Systems market have been detailed in this report.
• Detailed information regarding the impact of COVID-19 on the Submarine Cable Systems market has been provided in the report.
• The report includes a detailed competitive landscape of the market, along with key players, along with an in-depth analysis of their revenue
Read the full report: https://www.reportlinker.com/p05586651/?utm_source=GNW
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