Europe Submarine Power Cable Market Forecast to 2028 - COVID-19 Impact and Regional Analysis - by Type, Conductor Material, Voltage, and Application

List of Tables

The Europe submarine power cable market is expected to grow from US$ 4,830.38 million in 2021 to US$ 7,268.67 million by 2028. It is estimated to grow at a CAGR of 6.0% from 2021 to 2028.

Increasing Investment on Offshore Wind Energy Plants is Driving the Europe Submarine Power Cable Market

Electricity generated by offshore wind turbines is sent to land via several cable systems buried in the seabed. Thus, the rising investment by developed and developing nations in offshore wind energy plants to generate wind energy is propelling the demand for submarine power cables. Some of the major investments include:

The British government in 2021 announced that GRI Renewables Industries and Siemens Gamesa has spent more than US$ 360.70 million (260 million pounds) in offshore wind manufacturing facilities in Northeast England.

According to WindEurope, in 2020, the European offshore wind business had drawn ~US$ 31.7 billion (26 billion euros) in investment. The investments are planned to fund a total of 7.1 gigawatts (GW) of offshore wind power over the next few years, with projects being designed and built.

The UK announced investment in the offshore wind manufacturing business in August 2021. Government and private sector investments worth of With US$ 360 million (£260 million) to develop 'next-generation' wind turbines. Moreover, the UK government has planned to grow its offshore wind manufacturing business across the Humber region.

Thus, these high investments from developed and developing countries are factors driving the submarine power cables market growth.

Europe Submarine power cable Market Overview

The submarine power cable market in Europe is sub segmented into France, Germany, Italy, the UK, Russia, and the Rest of Europe. Europe is a globally leading generator and consumer of offshore wind, with the most operational wind farms using both bottom-fixed and floating foundation technologies. The offshore capacity of the region is sufficient to meet its growing power consumption. In 2019, Europe installed a new record-high offshore wind plant of 3.6 GW capacity; however, this will require significant infrastructure investments and higher installation rates. In their National Energy and Climate Plans, European governments have set a goal of delivering 111 GW of wind capacity by 2030, but to achieve this goal, the country needs to almost triple the delivery rates. In 2020, Europe added 2.9 GW of offshore capacity. Across 9 wind farms, 356 new offshore wind turbines will be linked to the grid. The total installed offshore wind capacity in Europe today stands at 25 GW, which is equivalent to 5,402 grid-connected wind turbines spread across 12 different countries. In four different countries, eight new offshore wind projects passed the Final Decision Investment (FID) in 2020, with construction set to begin in the next years. In order to fund 7.1 GW of increased capacity, US$ 30.08 billion was invested in new assets by the European government. Such high investments are further propelling the demand for submarine power cables across Europe in the coming years.

Europe Submarine power cable Market Revenue and Forecast to 2028 (US$ Million)

Europe Submarine power cable Market Segmentation

The Europe submarine power cable market is segmented into type, conductor material, voltage, application, and country.

Based on type, the Europe submarine power cable market is bifurcated into multicore, single core. The single core segment accounted for the highest share in the Europe submarine power cable market in 2021.

Based on conductor material, the Europe submarine power cable market is segmented into copper and Aluminum. The copper segment accounted for the highest share in the Europe market in 2021.

Based on voltage, the Europe submarine power cable market is segmented into high voltage, and medium voltage. The high voltage accounted for a higher share in the Europe submarine power cable market in 2021.

Based on application, the Europe submarine power cable market is segmented into offshore oil and gas, offshore wind power, inter-country and island connection, and others. The offshore wind power segment accounted for the highest share in the submarine power cable Europe market in 2021.

Based on country, the Europe submarine power cable market is segmented into the France, Germany, Italy, the UK, Russia, and the Rest of Europe. The UK dominated the Europe submarine power cable market share in 2021.

Prysmian Group; NKT A/S; Sumitomo Electric Industries Ltd; FURUKAWA ELECTRIC CO. LTD; HENGTONG GROUP CO. LTD; KEI Industries Limited; LS Cable & System Ltd; Hydro Group Plc; ZT International Ltd; and TELE-FONIKA Kable S.A. are the leading companies operating in the Europe submarine power cable market.

Reasons to Buy:

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Europe submarine power cable market
Highlights key business priorities in order to assist companies to realign their business strategies
The key findings and recommendations highlight crucial progressive industry trends in the Europe submarine power cable market, thereby allowing players across the value chain to develop effective long-term strategies
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the submarine power cable market, as well as those hindering it
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

Product Code: BMIRE00028097

1. Introduction

1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation

2. Europe Submarine Power Cable Market- Key Takeaways

3. Research Methodology

3.1 Coverage
3.2 Secondary Research
3.3 Primary Research

4. Europe Submarine Power Cable Market Landscape

4.1 Market Overview
4.2 Europe PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion

5. Europe Submarine Power Cable Market - Key Industry Dynamics

5.1 Market Drivers
- 5.1.1 Increasing Investment on Offshore Wind Energy Plants
- 5.1.2 Rise in Cross Country Submarine Connections for Power Transmission
5.2 Market Restraints
- 5.2.1 Longer Life Span of Submarine Power Cable
5.3 Market Opportunities
5.4 Future Trends
- 5.4.1 Rise in Development of Underwater Data Center
5.5 Impact Analysis of Drivers and Restraints

6. Submarine Power Cable Market - Europe Market Analysis

6.1 Overview
6.2 Europe Submarine Power Cable Market Forecast and Analysis

7. Europe Submarine Power Cable Market Analysis - By Type

7.1 Overview
7.2 Europe Submarine Power Cable Market Breakdown, by Type, 2020 and 2028
7.3 Multicore
- 7.3.1 Overview
- 7.3.2 Multicore: Europe Submarine Power Cable Market Revenue and Forecast to 2028 (US$ Million)
7.4 Single Core
- 7.4.1 Overview
- 7.4.2 Single Core: Europe Submarine Power Cable Market Revenue and Forecast to 2028 (US$ Million)

8. Europe Submarine Power Cable Market Analysis - By Conductor Material

8.1 Overview
8.2 Europe Submarine Power Cable Market, by Conductor Material (2020 and 2028)
8.3 Copper
- 8.3.1 Overview
- 8.3.2 Copper: Europe Submarine Power Cable Market - Revenue and Forecast to 2028 (US$ Million)
8.4 Aluminum
- 8.4.1 Overview
- 8.4.2 Aluminium: Europe Submarine Power Cable Market - Revenue and Forecast to 2028 (US$ Million)

9. Europe Submarine Power Cable Market Analysis - By Voltage

9.1 Overview
9.2 Europe Submarine Power Cable Market, by Voltage (2020 and 2028)
9.3 High Voltage
- 9.3.1 Overview
- 9.3.2 High Voltage: Europe Submarine Power Cable Market - Revenue and Forecast to 2028 (US$ Million)
9.4 Medium Voltage
- 9.4.1 Overview
- 9.4.2 Medium Voltage: Europe Submarine Power Cable Market - Revenue and Forecast to 2028 (US$ Million)

10. Europe Submarine Power Cable Market Analysis - By Application

10.1 Overview
10.2 Europe Submarine Power Cable Market, by Application (2020 and 2028)
10.3 Offshore Oil and Gas
- 10.3.1 Overview
- 10.3.2 Offshore Oil and Gas: Europe Submarine Power Cable Market - Revenue and Forecast to 2028 (US$ Million)
10.4 Offshore Wind Power
- 10.4.1 Overview
- 10.4.2 Offshore Wind Power: Europe Submarine Power Cable Market - Revenue and Forecast to 2028 (US$ Million)
10.5 Inter-Country and Island Connection
- 10.5.1 Overview
- 10.5.2 Inter-Country and Island Connection: Submarine Power Cable Market - Revenue and Forecast to 2028 (US$ Million)

11. Europe Submarine Power Cable Market - Country Analysis

11.1 Overview
- 11.1.1 Europe: Submarine Power Cable Market, by Key Country
  - 11.1.1.1 France: Submarine Power Cable Market - Revenue and Forecast to 2028 (US$ Million)
    - 11.1.1.1.1 France: Submarine Power Cable Market, By Type
    - 11.1.1.1.2 France: Submarine Power Cable Market, by Conductor Material
    - 11.1.1.1.3 France: Submarine Power Cable Market, by Voltage
    - 11.1.1.1.3.1 France: Submarine Power Cable Market, by High Voltage
    - 11.1.1.1.3.2 France: Submarine Power Cable Market, by Medium Voltage
    - 11.1.1.1.4 France: Submarine Power Cable Market, by Application
  - 11.1.1.2 Germany: Submarine Power Cable Market - Revenue and Forecast to 2028 (US$ Million)
    - 11.1.1.2.1 Germany: Submarine Power Cable Market, By Type
    - 11.1.1.2.2 Germany: Submarine Power Cable Market, by Conductor Material
    - 11.1.1.2.3 Germany: Submarine Power Cable Market, by Voltage
    - 11.1.1.2.3.1 Germany: Submarine Power Cable Market, by High Voltage
    - 11.1.1.2.3.2 Germany: Submarine Power Cable Market, by Medium Voltage
    - 11.1.1.2.4 Germany: Submarine Power Cable Market, by Application
  - 11.1.1.3 Italy: Submarine Power Cable Market - Revenue and Forecast to 2028 (US$ Million)
    - 11.1.1.3.1 Italy: Submarine Power Cable Market, By Type
    - 11.1.1.3.2 Italy: Submarine Power Cable Market, by Conductor Material
    - 11.1.1.3.3 Italy: Submarine Power Cable Market, by Voltage
    - 11.1.1.3.3.1 Italy: Submarine Power Cable Market, by High Voltage
    - 11.1.1.3.3.2 Italy: Submarine Power Cable Market, by Medium Voltage
    - 11.1.1.3.4 Italy: Submarine Power Cable Market, by Application
  - 11.1.1.4 UK: Submarine Power Cable Market - Revenue and Forecast to 2028 (US$ Million)
    - 11.1.1.4.1 UK: Submarine Power Cable Market, By Type
    - 11.1.1.4.2 UK: Submarine Power Cable Market, by Conductor Material
    - 11.1.1.4.3 UK: Submarine Power Cable Market, by Voltage
    - 11.1.1.4.3.1 UK: Submarine Power Cable Market, by High Voltage
    - 11.1.1.4.3.2 UK: Submarine Power Cable Market, by Medium Voltage
    - 11.1.1.4.4 UK: Submarine Power Cable Market, by Application
  - 11.1.1.5 Russia: Submarine Power Cable Market - Revenue and Forecast to 2028 (US$ Million)
    - 11.1.1.5.1 Russia: Submarine Power Cable Market, By Type
    - 11.1.1.5.2 Russia: Submarine Power Cable Market, by Conductor Material
    - 11.1.1.5.3 Russia: Submarine Power Cable Market, by Voltage
    - 11.1.1.5.3.1 Russia: Submarine Power Cable Market, by High Voltage
    - 11.1.1.5.3.2 Russia: Submarine Power Cable Market, by Medium Voltage
    - 11.1.1.5.4 Russia: Submarine Power Cable Market, by Application
  - 11.1.1.6 Rest of Europe: Submarine Power Cable Market - Revenue and Forecast to 2028 (US$ Million)
    - 11.1.1.6.1 Rest of Europe: Submarine Power Cable Market, By Type
    - 11.1.1.6.2 Rest of Europe: Submarine Power Cable Market, by Conductor Material
    - 11.1.1.6.3 Rest of Europe: Submarine Power Cable Market, by Voltage
    - 11.1.1.6.3.1 Rest of Europe: Submarine Power Cable Market, by High Voltage
    - 11.1.1.6.3.2 Rest of Europe: Submarine Power Cable Market, by Medium Voltage
    - 11.1.1.6.4 Rest of Europe: Submarine Power Cable Market, by Application

12. Industry Landscape

12.1 Overview
12.2 Market Initiative
12.3 New Product Development

13. Company Profiles

13.1 TELE-FONIKA Kable S.A.
- 13.1.1 Key Facts
- 13.1.2 Business Description
- 13.1.3 Products and Services
- 13.1.4 Financial Overview
- 13.1.5 SWOT Analysis
- 13.1.6 Key Developments
13.2 ZT International Ltd
- 13.2.1 Key Facts
- 13.2.2 Business Description
- 13.2.3 Products and Services
- 13.2.4 Financial Overview
- 13.2.5 SWOT Analysis
- 13.2.6 Key Developments
13.3 Hydro Group
- 13.3.1 Key Facts
- 13.3.2 Business Description
- 13.3.3 Products and Services
- 13.3.4 Financial Overview
- 13.3.5 SWOT Analysis
- 13.3.6 Key Developments
13.4 LS Cable & System Ltd.
- 13.4.1 Key Facts
- 13.4.2 Business Description
- 13.4.3 Products and Services
- 13.4.4 Financial Overview
- 13.4.5 SWOT Analysis
- 13.4.6 Key Developments
13.5 KEI Industries Limited
- 13.5.1 Key Facts
- 13.5.2 Business Description
- 13.5.3 Products and Services
- 13.5.4 Financial Overview
- 13.5.5 SWOT Analysis
- 13.5.6 Key Developments
13.6 Prysmian Group
- 13.6.1 Key Facts
- 13.6.2 Business Description
- 13.6.3 Products and Services
- 13.6.4 Financial Overview
- 13.6.5 SWOT Analysis
- 13.6.6 Key Developments
13.7 Sumitomo Electric Industries, Ltd.
- 13.7.1 Key Facts
- 13.7.2 Business Description
- 13.7.3 Products and Services
- 13.7.4 Financial Overview
- 13.7.5 SWOT Analysis
- 13.7.6 Key Developments
13.8 FURUKAWA ELECTRIC CO., LTD.
- 13.8.1 Key Facts
- 13.8.2 Business Description
- 13.8.3 Products and Services
- 13.8.4 Financial Overview
- 13.8.5 SWOT Analysis
- 13.8.6 Key Developments
13.9 NKT A/S
- 13.9.1 Key Facts
- 13.9.2 Business Description
- 13.9.3 Products and Services
- 13.9.4 Financial Overview
- 13.9.5 SWOT Analysis
- 13.9.6 Key Developments
13.10 HENGTONG GROUP CO.,LTD.
- 13.10.1 Key Facts
- 13.10.2 Business Description
- 13.10.3 Products and Services
- 13.10.4 Financial Overview
- 13.10.5 SWOT Analysis
- 13.10.6 Key Developments

14. Appendix

14.1 About The Insight Partners
14.2 Glossary