Market Research Report - 205764
Submarine Electricity Transmission - HVDC and HVAC Submarine Power Cables: Demand Drivers, Technology Issues, Prominent Projects, Key Industry Players and Global Market Forecasts
|Published by||Navigant Research|
|Published||Content info||69 Pages; 38 Tables, Charts & Figures|
|Submarine Electricity Transmission - HVDC and HVAC Submarine Power Cables: Demand Drivers, Technology Issues, Prominent Projects, Key Industry Players and Global Market Forecasts|
|Published: June 23, 2015||Content info: 69 Pages; 38 Tables, Charts & Figures||
HVDC and HVAC Submarine Power Cables: Demand Drivers, Technology Issues, Prominent Projects, Key Industry Players, and Global Market Forecasts.
Submarine electricity transmission systems are increasingly used for long and short hauls in undersea, lake, and river interconnection applications, such as in the Hudson River in New York or for connecting offshore wind farms across Europe. As with overhead and underground systems, many high-voltage subsea systems are moving toward high-voltage direct current (HVDC) technology, away from the historically prevalent alternating current (AC) technology.
The market for HVDC and high-voltage alternating current (HVAC) submarine electricity transmission systems is large and highly specialized. Analysis of existing and planned systems indicates that the submarine transmission industry will continue to experience substantial growth for years to come. In Europe, the transmission system requires extensive reconfiguration and expansion to deal with coal and nuclear generation plant retirements and the rapid growth of offshore and onshore wind generation in the Nordic region, as well as in other remote offshore areas. The European market will likely account for more than half of the global submarine cable projects over the next decade. According to Navigant Research, the global submarine electricity transmission market is expected to grow from $16.8 billion in 2015 to $24.8 billion in 2024.
This Navigant Research report analyzes the global market for submarine electricity transmission systems. The study provides an analysis of the market issues, including market drivers and regulations and policies, associated with submarine electricity transmission projects. Global market forecasts for project value, segmented by technology and region, extend through 2024. The report also provides case studies and examines the key technologies related to submarine electricity transmission systems, as well as the competitive landscape.