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

List of Tables

The North America submarine power cable market is expected to grow from US$ 1,165.96 million in 2021 to US$ 2,635.92 million by 2028. It is estimated to grow at a CAGR of 7.2% from 2021 to 2028.

Increasing Investment on Offshore Wind Energy Plants is Driving the North America 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. Thus, these high investments from developed and developing countries are factors driving the submarine power cables market growth.

North America Submarine power cable Market Overview

The submarine power cable market in North America is sub segmented into the US, Canada, and Mexico. Government initiatives to reduce carbon footprint across the region are highly supporting the adoption of renewable sources of power generation, such as wind, thereby boosting investments in offshore wind energy farms across countries such as the US and Canada. According to the Biden administration, the US aspires to lead a sustainable energy revolution, and offshore wind is at the core strategy of that approach. By 2030, the US Departments of Energy, Interior, and Commerce hope to increase the offshore wind capacity of the country to 30 gigawatts (GW). The current offshore wind energy in the US is ~42 MW, with just one active commercial offshore wind farm off the coast of Rhode Island (Block Island Wind Farm). The potential of the US to generate 30 GW of offshore wind by 2030 as part of the Green New Deal agenda is one of the major driving factors of submarine power cable market. Such a rise in investments in offshore wind energy is expected to trigger the demand for submarine power cables in North America. The high presence of offshore crude oil and natural gas rigs across the region is also influencing the demand for high power across these plants thereby contributing to the rise in demand for submarine power cables from the sector.

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

North America Submarine power cable Market Segmentation

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

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

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

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

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

Based on country, the North America submarine power cable market is segmented into the US, Canada, and Mexico. The US dominated the 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 North America 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 North America 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 North America 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 North America 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: BMIRE00028135

1. Introduction

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

2. North America Submarine Power Cable Market- Key Takeaways

3. Research Methodology

3.1 Coverage
3.2 Secondary Research
3.3 Primary Research

4. North America Submarine Power Cable Market Landscape

4.1 Market Overview
4.2 North America PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion

5. North America 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
- 5.3.1 Future Opportunities for Submarine Power Cable Market
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 - North America Market Analysis

6.1 Overview
6.2 North America Submarine Power Cable Market Forecast and Analysis

7. North America Submarine Power Cable Market Analysis - By Type

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

8. North America Submarine Power Cable Market Analysis - By Conductor Material

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

9. North America Submarine Power Cable Market Analysis - By Voltage

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

10. North America Submarine Power Cable Market Analysis - By Application

10.1 Overview
10.2 North America 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: North America 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: 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. North America Submarine Power Cable Market - Country Analysis

11.1 Overview
- 11.1.1 North America: Submarine Power Cable Market, by Key Country
  - 11.1.1.1 US: Submarine Power Cable Market - Revenue and Forecast to 2028 (US$ Million)
    - 11.1.1.1.1 US: Submarine Power Cable Market, By Type
    - 11.1.1.1.2 US: Submarine Power Cable Market, by Conductor Material
    - 11.1.1.1.3 US: Submarine Power Cable Market, by Voltage
    - 11.1.1.1.3.1 US: Submarine Power Cable Market, by High Voltage
    - 11.1.1.1.3.2 US: Submarine Power Cable Market, by Medium Voltage
    - 11.1.1.1.4 US: Submarine Power Cable Market, by Application
  - 11.1.1.2 Canada: Submarine Power Cable Market - Revenue and Forecast to 2028 (US$ Million)
    - 11.1.1.2.1 Canada: Submarine Power Cable Market, By Type
    - 11.1.1.2.2 Canada: Submarine Power Cable Market, by Conductor Material
    - 11.1.1.2.3 Canada: Submarine Power Cable Market, by Voltage
    - 11.1.1.2.3.1 Canada: Submarine Power Cable Market, by High Voltage
    - 11.1.1.2.3.2 Canada: Submarine Power Cable Market, by Medium Voltage
    - 11.1.1.2.4 Canada: Submarine Power Cable Market, by Application
  - 11.1.1.3 Mexico: Submarine Power Cable Market - Revenue and Forecast to 2028 (US$ Million)
    - 11.1.1.3.1 Mexico: Submarine Power Cable Market, By Type
    - 11.1.1.3.2 Mexico: Submarine Power Cable Market, by Conductor Material
    - 11.1.1.3.3 Mexico: Submarine Power Cable Market, by Voltage
    - 11.1.1.3.3.1 Mexico: Submarine Power Cable Market, by High Voltage
    - 11.1.1.3.3.2 Mexico: Submarine Power Cable Market, by Medium Voltage
    - 11.1.1.3.4 Mexico: 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 Sumitomo Electric Industries, Ltd.
- 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 FURUKAWA ELECTRIC CO., 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 NKT A/S
- 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 HENGTONG GROUP CO.,LTD.
- 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

14. Appendix

14.1 About The Insight Partners
14.2 Glossary