Technavio forecasts subsea cable market trends

Illustration (Image: National Grid)
Illustration (Image: National Grid)

 
Technavio’s latest report on the global subsea power cable market provides an analysis on the most important trends expected to impact the market outlook from 2016-2020.

Technavio’s market research analysts have predicted that the global submarine power cable market will grow steadily at a moderate CAGR of almost 6% by 2020.

The top three emerging trends driving the global submarine power cable market according to Technavio heavy industry research analysts are:

  • Volatile raw material price
  • Rise in sales of HVDC power cables
  • High R&D investment

Anju Ajaykumar, a lead analyst at Technavio for research on engineering tools, said: “The offshore wind power generation sector is the major end-user of submarine power cables. Utility companies deploy these cables for efficient transportation of electric power. The cables play a vital role from electricity generation to transmitting power, and finally transporting the power onshore.

“Rising investments worldwide to support renewable energy generation such as tidal turbine, wave energy, and offshore wind power generation will trigger a major demand for submarine power cables during the forecast period.”

This market research report analyzes the key players in the submarine power cable market such as ABB, General Cable, Nexans, nkt cables, Prysmian, and Sumitomo.

The report also presents a competitive analysis of the market by end user (offshore wind power generation, inter-country and island connection, offshore oil rigs, and others) and by geography (the Americas, APAC, and EMEA).

Technavio is a global technology research and advisory company.

Share this article

Follow Tidal Energy Today

Events>

<< Feb 2018 >>
MTWTFSS
29 30 31 1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 1 2 3 4

Waterpower Week 2018

This 3-day jam packed event provides you the opportunity to network, learn about legislative and regulatory initiatives, and discuss…

read more >

RenewableUK Wave & Tidal 2018

The event will bring together leading developers, OEM’s, financial and innovation funding experts, technical and safety professionals…

read more >

Scottish Renewables Annual Conference

Scottish Renewables’ Annual Conference 2018 will take place against a background of these debates and examine in detail what these changes…

read more >

Maritime & Offshore Career Event (MOCE)

There is something for everyone; MOCE is not only for starters, experienced professionals also visit the event to find their next career move…

read more >